News Grid Expert Advisor for MT4/MT5
Info
The News Grid Expert Advisor for MT4/MT5 is a Expert Advisor for MetaTrader 4 that this expert advisor strategically places a grid of pending orders in both buy and sell directions five minutes prior to a specified news release time. Once orders are triggered, the EA implements a trailing stop loss.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use News Grid Expert Advisor for MT4/MT5
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
This Expert Advisor strategically places a grid of pending orders in both buy and sell directions five minutes prior to a specified news release time.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: Semi-HFT Grid Bot: Two-Sided Martingale Grid with Basket Take Profit - another powerful expert for MetaTrader 4 traders.
This Expert Advisor strategically places a grid of pending orders in both buy and sell directions five minutes prior to a specified news release time. Once orders are triggered, the EA implements a trailing stop loss. Ten minutes after the news release time, any untriggered pending orders are automatically deleted.Also recommended: e-news-lucky$ - automated news trading expert advisor - similar expert with strong performance on MetaTrader 4.
EA Parameters:
news_time - The scheduled time for the news release.
amount_of_deals - The number of pending orders to place in each direction, spaced by a defined step.
step_between_them - The price difference between consecutive pending orders in the same direction.
distance_from_current_price - The initial distance from the current market price where the first pending order will be placed.
trail_sl (in pips) - The trailing stop distance in pips. This is activated once an order is filled at market price.
take_profit_from_order_price - The take profit level for each order, measured from its entry price.
tolerance_for_trail - A setting to manage the frequency of stop loss updates during trailing, reducing server calls.
magic_number - A unique identifier for orders placed by this EA.
lot_size - The volume for each trade executed by the EA.
You may also like: moving average grid ea - excellent alternative for expert users on MetaTrader 4.
Source Code
#property version "1.0"
#property copyright "robotfx"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property strict
input datetime news_time=d'2015.11.06 14:30';
input int
deals=3, //amount of deals
delta=50, //step between them (in pips)
distance=300, //distance from current price.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.