News Catcher Pro

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

MT5 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!):

  1. https: //ec.forexprostools.com
  2. https: //www. worldtimeserver.com
  3. http: //timesrv.online
     

Requirements

• 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