News Trading Script
Info
The News Trading Script is a Script for MetaTrader 4 that this script is designed for high-impact news events like fomc, nfp, and rate bank announcements, especially for 4-digit brokers. It automates the placement of buy stop and sell stop orders, ensuring you're ready to capture rapid price movements during major news releases.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Scripts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use News Trading Script
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
This script is designed for high-impact news events like FOMC, NFP, and rate bank announcements, especially for 4-digit brokers.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Script works on MetaTrader 4. Place the file in the MQL4/Scripts folder and restart the terminal.
Description & Settings
Related: automated economic calendar trading advisor - another powerful script for MetaTrader 4 traders.
This script is designed for high-impact news events like FOMC, NFP, and rate bank announcements, especially for 4-digit brokers.Also recommended: investing.com news calendar for mt4/mt5 - similar script with strong performance on MetaTrader 4.
It automates the placement of buy stop and sell stop orders, ensuring you're ready to capture rapid price movements during major news releases.
Here's how to use it:
- Click on the script or assign a shortcut (e.g., Ctrl + 1) to activate it just before the news event.
- The script will place buy stop and sell stop orders with predefined stop loss and target levels.
Recommendations:
- Use this strategy specifically for high-impact 'red' news events.
- If the market doesn't trigger the buy stop or sell stop orders within 3 minutes after the news, cancel the orders and wait for the next news event.
This strategy aims to capitalize on the initial market volatility following significant news releases.
You may also like: rsi and cci trading strategy - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property show_inputs
#include <stdlib.mqh>
#include <winuser32.mqh>
#property show_inputs
extern double lots = 0.01;
double sstop,sell_stop_price,tp_buy = 0.0;
double bstop,buy_stop_price,tp_sell = 0.0 ;.......
⚠ 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.