EA Mbot News Trader is an Expert Advisor based on a classical news trading strategy. You just need to configure from properties News time and the rest is automatically handled by the robot.

The Expert Advisor uses pending orders expecting both breakout and rollback. Before news release, the EA places two pending orders at a preset distance from the current price. once one of the orders triggers, the second one is deleted. A common trailing stop is used to manage positions. If a news release is not followed by price movement, the two orders are deleted after the specified time.

Recommendations on trading

• 0.01 lot with a minimum deposit of $100
• It is recommended to test the EA on a demo account to understand what kind of settings you should use with your broker.
• It can be optimized to work on any instrument
• ECN brokers with low spread and slippage are recommended for trading

Settings

MagicNumberEA - unique number for the robot to distinguish its orders

slippage - maximum slippage in points

lotMode - lot settings

• LOT_MODE_CONST - fixed lot mode
• LOT_MODE_STEP_BALANCE - automated lot calculation based on the lot and balance step
• LOT_MODE_DEPO_RISK_PER_ORDER - automated lot calculation based on risk % of balance
• lotConst - trade volume in the fixed sizing mode
• lotModeStep_BalanceStep - balance step
• lotModeStep_LotStep - lot step. For example, if you set the balance step to 100 and the lot step to 0.01, then 0.01 lot will be opened per each 100 of balance.
• lotModeDepo_riskPerOrderPercent - risk percent of balance. (1-100%)

timeSettings - time settings

• timeOfNewsLocal - news release data and time (local time)
• secondsToStart - the time in seconds before the news release to place pending orders and to hold them at the given distance from the current price
• secondsToCancel - time in seconds after which pending orders will be deleted
• inpDistanceToBuy - distance between the Buy order and the current price
• inpDistanceToSell - distance between the Sell order and the current
• inpPendingOPModifyStep - orders price change step before a news release

strategy - choose a trading strategy

• STRATEGY_STOPS - a breakout strategy. The EA places 2 orders: Sell Stop below the current price and Buy Stop above the current price
• STRATEGY_LIMITS - a rollback strategy. The EA places 2 orders: Sell Limit below the current price and Buy Limit above the current price
• STRATEGY_BUYSTOP - a Buy Stop order is placed
• STRATEGY_SELLSTOP - a Sell Stop order is placed
• STRATEGY_BUYLIMIT - a Buy Limit order is placed
• STRATEGY_SELLLIMIT - a Sell Limit order is placed
• deleteRemainingOrder - enable/disable deletion of the second order after a trade is opened
• deleteUfterTimeCancel - enable/disable deletion of pending orders after timeout
• StopLossBuy - configuration of the protective order in points for Buy trades
• TakeProfitBuy - Take Profit for Buy trades in points
• StopLossSell - configuration of the protective order in points for Sell trades
• TakeProfitSell - Take Profit for Sell trades in points
• SizeTrallStart - distance in points, after which Trailing Stop is activated
• SizeTrall - Trailing Stop distance from the current price
• SizeTrallStep - trailing step
• NPipsTurnOnNoLoss - distance in points, after which the protective stop loss order is moved to the open price
• NPipsShiftNoLossProfit - shift of the breakeven level from the opening level

OtherVariables

• ordersCommentConst - a comment to orders
• sleepIfFailedMs - a pause in seconds after an unsuccessful request
• stopTradeSignalIfFailed - canceling a signal in case of an error
• displayComment - enable/disable the information panel
• displayPrint - enable/disable logs
• messageType - notification about opening/closure of trades (alert, E-mail, Push)