News Catcher Pro MT5

News Catcher Pro MT5 is a unique mean-reversion strategy designed to take advantage of intraday seasonal volatility patterns caused by high-impact news events in the Forex market. As a professional Forex trader, I have had the opportunity to test and analyze this trading tool extensively, and in this review, I will share my insights and observations.

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Features

One of the standout features of News Catcher Pro MT5 is its ability to provide solid backtest and live performance results. This allows traders to have confidence in the strategy’s historical performance and its potential for future success. Additionally, the advanced news filter, which can be used in the Strategy Tester, helps to ensure that trades are executed only during favorable market conditions.

The EA utilizes a self-diagnostic system that constantly monitors its performance and makes adjustments as needed. This feature helps to maintain the integrity of the strategy and ensures that it continues to perform optimally in different market conditions.

Installation and Requirements

Installing News Catcher Pro MT5 is a straightforward process. The EA should be attached to only one M5 chart, with EURUSD being the recommended currency pair. It is important to note that the EA requires a hedging account to function properly. Additionally, running the EA on a VPS continuously is recommended for optimal performance. It is also advisable to use a good ECN broker for executing trades.

Strategy

The strategy employed by News Catcher Pro MT5 revolves around identifying and capitalizing on intraday seasonal volatility patterns that occur around high-impact news events. The EA enters the market shortly before such events occur, aiming to take advantage of the resulting price movements. It is crucial to emphasize that the EA does not trade frequently, as it focuses on quality setups rather than quantity.

FAQs

1. Which currency pairs are supported by News Catcher Pro MT5?

News Catcher Pro MT5 supports the following currency pairs: GBPUSD, EURUSD, and EURGBP.

2. What is the recommended timeframe for using News Catcher Pro MT5?

The recommended timeframe for using News Catcher Pro MT5 is M5.

3. Does the EA use martingale or grid strategies?

No, the EA does not utilize martingale or grid strategies. Each trade is protected by a stop loss, ensuring controlled risk management.

4. How can I backtest News Catcher Pro MT5?

To backtest the EA, you will need to download the news events data file ‘NewsEvents.txt’ and copy it to the common MT4/5 directory. The data file can be found in the Comments section. It is recommended to perform backtests using Tick Data Suite GMT 2 with US DST, as this is the GMT offset used by most brokers.

Conclusion

News Catcher Pro MT5 is a powerful mean-reversion strategy that offers professional Forex traders the opportunity to capitalize on intraday seasonal volatility patterns caused by high-impact news events. With its solid backtest and live performance results, advanced news filter, and self-diagnostic system, this EA presents a promising trading tool for those seeking to optimize their Forex trading strategies.

For independent testing and updates on the results of using News Catcher Pro MT5, you can visit the forexroboteasy.com website. I encourage you to share your experiences with this product, as your insights can contribute to the overall understanding of its effectiveness.