News Release Expert Advisor For MT4

News Release Expert Advisor For MT4



PLEASE NOTE: This expert advisor was publicly available for free usage on other websites and is not programmed by us. We explain the functionality and possible improvements of the EA. Furthermore, we are convinced that fully automatic Expert Advisors will fail in the long run. On the other hand, our semi-automatic approach with detecting the best setups and then activating our Expert Advisors (e.g. V-Power EA, EdgeZone EA) produced many successful traders and some of them even got prop traders at prop trading firms. Therefore, we added a similar semi-automatic trading feature (to allow only buy or only sell trades) to the free Expert Advisors. You can download the modified version here and enjoy!


The News Release Expert Advisor For MT4 is a fully automated trading system that uses news events as trigger for entry. To run this expert advisor in a trading account, the user must allow WebRequest and add a URL provided in Inputs to the Expert Advisors tab in Options. Otherwise, the robot would return errors and would not take trades.

Since the trading system trades new announcements, it is not possible to test its performance in the strategy tester. The expert advisor runs only during news times by putting pending orders five minutes before the news release. This scenario could not be replicated in the strategy tester. Therefore, the only way to test this expert advisor is through demo trading. Gathering data to determine the profitability of this robot surely takes some time. Initial testing showed that the robot has more winning trades than losing trades.

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The News Release Expert Advisor For MT4– Entry Criteria

The News Release Expert Advisor presents the user with a large array of variables to make sense of before he can start using it in trading. The sheer number of variables to go through might overwhelm the user so time and patience are needed while learning how to use this robot. The algorithm does not run on every tick or on every candle. Instead, the expert advisor uses an internal timer that does not correspond to the computer clock or even the candle time. The user has the option to set the frequency of this timer in Inputs, but the default value is one second or 1,000 milliseconds.

Out of the loads of variables provided in Inputs, the following variables are selected and explained to cut the learning curve for new users. The user must understand these main variables first and then move on to the other external variables to be able to use them in trading.

  • GMT_OffsetHours = 0 – To match the time used by the expert advisor with the local computer time, the user must determine the gap between his broker time and his local time. This is done by comparing the computer time with the hour time of the current candle. This difference should be put as the value of this variable.

  • MillisecondTimer = 1000 – The expert advisor is not run by the tick in order to save computer resources. Instead, the robot runs in every 1,000 milliseconds or 1 second.

  • StrategyToUse = Custom_Stategy – The expert advisor offers five different entry strategies that the user can explore. The default is the custom strategy.

  • MoneyManagement = false – If this option is set to true, the robot will determine and set the lot size based on a risk factor, account balance and account type.

  • RiskFactor = 10 – This parameter is one factor in determining the lot size of trades, but it applies only if the money management option is true.

  • ManualLotSize = 0.01 – Since money management option is false, the robot takes this lot size and uses it on every trade.

  • MinutesBeforeNewsStart = 5 – The robot puts buy stop and sell stop orders five minutes before a news release if applicable.

  • ImpactToTrade = Only_High – The user can allow the robot to trade only high-impact news, high- and medium-impact news, and high-, medium- and low-impact news. The default is only high-impact news. This value is adjustable.

  • IncludeSpeaks = true – If this is true, the robot will trade scheduled speeches as well.

  • DistancePendingOrders = 10.0 – This is the distance between buy stop and sell stop orders from market price in pips.

  • DeleteOrphanPending = true – If one of the two stop orders get triggered, the other pending order will be deleted immediately.

  • MinutesExpireOrders = 60 – Pending orders that are not converted to market orders are automatically closed by the terminal after 60 minutes.

  • UseStopLoss = true – This prompts the robot to define a stop loss for each trade.

  • OrdersStopLoss = 10.0 – Each trade has a stop loss of 10 pips.

  • UseTakeProfit = true – This prompts the robot to define a take profit for each trade.

  • OrdersTakeProfit = 15.0 – Each trade has a take profit of 15 pips.

  • UseBreakEven = true – The stop loss of winning trades will be moved to breakeven if the trades gain 15 pips (see variable below).

  • BreakEvenPips = 15.0 – Breaking even transpires as a trade gains 15 pips.

  • LevelCloseAllInLoss = 500.0 – If multiple trades have been opened in the trading account and the aggregate loss reaches 100 dollars, all trades will be closed and the loss is accepted.

  • LevelCloseAllInProfit = 100.0 – If multiple trades have been executed in the trading account and the total profit reaches 100 dollars, all trades will be closed in profit.

  • Slippage = 3 – The difference between requested price and fill price during order entry or order closure should not be greater than 3 points (or 0.3 pips).

  • MagicNumber = 0 – By this setting, the robot will assign a magic number to each trade.

  • OrdersComments = "NewsReleaseEA" – This information is added to each trade to identify it as a trade opened by this expert advisor.

When the algorithm runs, the expert advisor sends a request to Forex Factory for information about upcoming news events. If a news announcement is to be released in five minutes that affects a certain currency, the expert advisor will set buy stop and sell stop orders to all pairs having this currency as counterpart. The stop orders are placed 10 pips from the market price. A buy stop order is placed 10 pips from the ask price, and a sell stop order is placed 10 pips below the bid price.

Each order placed by the robot has a lot size of 0.01, stop loss of 10 pips and take profit of 15 pips as defined in Inputs. If one of the stop orders is triggered, the other pending order is canceled immediately. If the other stop orders in the other currency pairs are not triggered, they will be closed by the terminal after 60 minutes. This is because each order is set to expire in 60 minutes.

The News Release Expert Advisor For MT4 – Exit Criteria

While the News Release Expert Advisor comes with a breakeven function as seen in Inputs, this function is not used at all because it is set to take effect when a trade has gained 15 pips. At the same time, a trade will reach take profit if it has gained 15 pips. If the user wants to use the breakeven function, he must adjust either the take profit target or the breakeven trigger point or even both. In the current setting, market orders are closed by the take profit or stop loss only.

The News Release Expert Advisor For MT4 – Room for Improvement

The News Release Expert Advisor is an interesting algorithmic trading system. Running it in a demo account for a relatively short period of time showed that it can make money for the trader. The robot closed more winning trades than losing trades, and profit is bigger than loss because of the relative values set in Inputs. However, determining if the robot makes money over the long term is yet to be seen.

The best way to test this robot is to put it on a demo account and run the account in a virtual private server. This way testing is done continuously without interruptions. To see the robot taking more trades, the user may choose to allow low-impact and medium-impact news in addition to high-impact news as well as speeches. Doing so does not raise much concerns as the stop loss and take profit targets are so close to the entry price anyway.


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