Trading Robots for MetaTrader 5
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MetaTrader 5
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Overview
News Catcher Pro is a mean-reversion strategy that uses intraday seasonal volatility patterns caused by high-impact news events. It enters the market at a certain time shortly before a high-impact news event occurs. It does not trade frequently!
Supported currency pairs: GBPUSD, EURUSD, EURGBP
Recommended timeframe: M5
MT4 version can be found here
EA is FIFO compatible
To backtest the EA you should download the news events data file 'NewsEvents.txt' and copy it to the common MT4/5 directory - '\Common\Files' (File -> Open Data Folder -> Up to ‘Terminal’ -> Common -> Files). The data file can be found in the Comments section.
Features:
- One Chart Setup: you only need one chart to trade all symbols
- Multiple currency pairs support
- Solid backtest and live performance
- Advanced News Filter (can be used in Strategy Tester)
- Auto GMT detection
- Self Diagnostic System
Backtests should be done with Tick Data Suite GMT+2 with US DST. This GMT offset is used by most brokers
How to install
- The EA must be attached to ONLY one M5 chart, EURUSD is recommended
- If your broker uses a suffix (e.g. EURUSD.a) you should update names in the Symbol parameter
- Use recommended pairs only. You don't need .set files, all settings are stored internally in the EA
-
Please allow web requests to the following URLs for news filter and GMT detection (delete spaces!):
- https: //ec.forexprostools.com
- https: //www. worldtimeserver.com
- http: //timesrv.online
- https: //ec.forexprostools.com
Requirements
- Hedging account!
- The EA should run on a VPS continuously
- Good ECN broker is preferable
Setting
- Allow Opening a new Trade - on/off opening new trades
- Lot-sizing Method - select the lot sizing method according to the risk you want to take: Fixed Lots will use fixed lot size from the "Fixed lot" parameter, Dynamic Lots will use Dynamic Lot parameter, Max Risk per Trade will calculate lots based on % risk per trade, 3 predefined presets will calculate risk automatically for you
- Fixed Lot - fixed trading lot
- Dynamic Lot - balance/equity to be used per 0.01 lot
- Maximum Lot - max allowed trading lot
- Maximum Spread, in pips - max allowed spread for position closing
- Maximum Slippage for a non-ECN acc, in pips - max allowed slippage
- Maximum Symbols at a time - max allowed number of symbols that can be opened at the same time
- Maximum Net Number of Currencies - max allowed number of open trades with the same currencies (not symbols/currency pairs) in the same direction
- Allow to Buy/Sell - on/off Buy/Sell trades
- Allow Hedging - allow opening multi-directional trades on the same symbol
- Minimum Free Margin % - if Free Margin% falls below the specified value, the EA will not place new pending orders and will cancel already placed ones
- Max Floating Drawdown % (in Money) - if current floating drawdown exceeds the specified % (value) the EA will close open positions
- Max Drawdown Action - allows specifying actions to be taken after the max. drawdown is reached (in money or %)
Strategy
- Symbols separated by comma - list of pairs to trade. Suffix needs to be included if your broker uses one!
- PCh Period - period of the price channel (PCh)
- PCh Offset - offset for the PCh levels
- ATR Period - period of the daily ATR indicator
- Position Time Stop - max position holding time, in M5 bars
- Hour to Stop Trading on Friday - hour to stop trading on Friday. All open positions will be closed at this hour
- New Year Holiday Filter - on/off Christmas/New Year filter
- TakeProfit / StopLoss, %ATR - volatility-based take profit / stop loss in %ATR
- Hide StopLoss - on/off SL hiding
- News Filter Enabled - on/off News Filter
- Minutes Before/After Event - allow trading before/after the high-impact event
Others
- Trade Comment - comment
- UID (0...9) - unique EA instance number. Usually no need to change it
- ShowPanel - on/off Info-panel
- Disable Automatic GMT Detection - set it to 'true' to disable automatic GMT detection. You can use the GMT Test/Manual' and 'DST Test/Manual' parameters to manually set the GMT offset in live trading.
- GMT/DST Test/Manual - GMT offset in winter and DST
