Lutos News

Overview of Lutos News

Lutos News is a unique Expert Advisor (EA) designed for the MetaTrader 4 platform. It specializes in executing Buy and Sell Stop orders during news events, capitalizing on the volatility and price movements triggered by significant news releases. The EA requires manual input of news times, as it does not have an automatic news detection feature.

Key Features

• Manual News Time Input: Users must manually set the news times for the EA to place pending orders.
• Pending Orders: The EA places Buy and Sell Stop orders on the chart during the specified news times.
• Trailing Stop Loss: Once a trade is initiated, the EA uses a trailing stop loss to secure profits as the price moves favorably.
• High Spread Consideration: Users are advised not to set stop loss values too close to the entry point due to high spreads during news events.

Input Parameters

• Pending Order Activation: Ensures that pending orders are always active before the news time.
• Lot Size: Users can set a fixed lot size for the trades.
• Stop Loss and Take Profit: Allows users to define stop loss and take profit levels for their trades.
• Trailing Pending Order: Helps capture the movement at the correct level by trailing the stop loss.
• Active Start Time: Users must manually set the start time for news events.
• End Time: Defines the end time for the news event trading period.
• Expired Pending Order Time: Sets the expiration time for pending orders in minutes.

Usage Recommendations

• Best Timeframe: The EA performs best on the M30 timeframe.
• Spread Awareness: Avoid setting stop loss values too close due to high spreads during news events.
• Manual Setup: Users need to manually input the news times and ensure the EA is configured correctly before news events.

User Reviews and Ratings

Lutos News has received positive feedback from users, boasting a 5.0 rating based on three reviews. Users appreciate its effectiveness in capturing price movements during news events and its trailing stop loss feature, which helps secure profits. However, the manual input requirement for news times is seen as a minor inconvenience.

Conclusion

Lutos News is a powerful tool for traders looking to capitalize on the volatility during news events. Its manual setup requirement ensures that users have control over the news times, while its trailing stop loss feature helps secure profits. Despite the need for manual input, its effectiveness and positive user feedback make it a valuable addition to any trader's toolkit. 🚀📈