News Catcher Pro MT5

Overview of News Catcher Pro MT5

News Catcher Pro MT5 is a sophisticated trading robot designed to capitalize on the market movements caused by high-impact news events. It operates by leveraging data from the mql5.com calendar to make informed trading decisions. This tool is perfect for traders who thrive on the volatility brought about by economic announcements.

Key Features

• Automated Calendar Integration: Automatically downloads and utilizes economic calendars for decision-making.
• Multiple Symbols: Capable of trading various symbols including Gold, Oil, and cross-rates.
• Two Trading Strategies: Employs both pending and instant order strategies based on economic data releases.
• Strategy Storage: Stores strategy settings locally for consistent application across different data releases.
• Autoclick Strategy: Applies an 'autoclick' strategy for high-volatility events, allowing fully automatic trading.

Trading Strategies

• Pending Orders: Places two pending orders above and below the current price before data release. The direction of the price movement triggers one of the orders.
• Instant Orders: Evaluates the actual value against the forecast or previous value post-release and opens a market order if a significant difference is detected.

Customizability

• Change Default Symbols: Users can change the default symbols for specific events.
• Combining Strategies: Allows combining pending and instant order strategies for a more dynamic approach.
• High Volatility Events: Users can manually select high-volatility events on a weekly basis for targeted trading.

Performance and Backtesting

• Backtesting Capabilities: Offers robust backtesting features to optimize and test strategies over long periods and various currency pairs.
• Solid Live Performance: Proven track record of performance in live trading environments.

Installation and Setup

• One Chart Setup: Requires attachment to only one M5 chart, preferably EURUSD.
• News Events Data File: Users need to download and place the 'NewsEvents.txt' file in the common MT4/5 directory for backtesting.
• Web Requests: Requires enabling web requests to specific URLs for news filter and GMT detection.

Additional Features

• Advanced News Filter: Filters news based on importance and can be used in the Strategy Tester.
• Auto GMT Detection: Automatically detects GMT offset for accurate time-based trading.
• Self-Diagnostic System: Ensures the EA operates smoothly and efficiently.

Supported Currency Pairs and Timeframes

• Supported Pairs: GBPUSD, EURUSD, EURGBP.
• Recommended Timeframe: M5.

Final Thoughts

News Catcher Pro MT5 is a powerful tool for traders looking to harness the volatility of news events. With its automated strategies, robust backtesting capabilities, and high level of customizability, it stands out as a top choice for news-based trading. 📈💡