Forex news indicator for mt4
Trading on news is one of the most popular strategies on the Forex currency market and the stock exchange; it allows even a novice trader to make a profit without any special knowledge.
This strategy is based on monitoring the release of major financial news and, based on the information received, decisions are made on opening new transactions, their direction and duration.
The news indicator for MT4 makes it possible to receive information in the fastest and at the same time convenient way.
Thanks to it, news is displayed directly in the mt4 trading terminal, which gives some advantage over other traders and greatly simplifies the work.
At the same time, we should not forget that not every news is reflected in the movement of the trend, some events are practically ignored by the Forex market, so you should not rush to open a transaction, but you must first wait for the price to react to the release of the news.
• high – show news only on the most important events, helps to exclude information on unimportant news from appearing on the screen.
• Texts – immediately report new news.
• Currency selection – helps to select only the currency in which trading is carried out, making the trader’s work more productive.
You can also specify in the settings such parameters as message language, time zone, settings for visual display of received information; more detailed information on the news indicator can be found in the archive by downloading the indicator.
Trading strategy using the mt4 news indicator
The news strategy is not only one of the most popular, but also one of the most effective, and it works equally well in both the stock market and forex.
When implementing it, the main difficulty is the need to constantly monitor the emergence of new events, and the presented tool makes it easy to cope with this task.
Trading using the MT4 news indicator for Forex is really quite simple, first we make all the necessary settings and select the currency for which the news will be displayed.
This must be one of the currencies used in the currency pair, for example let's take EUR/USD.
In this case, we check the box to display news on the euro and US dollar, wait for the news to come out, analyze it and determine the direction of the transaction.
It should not be forgotten that positive news on the base currency leads to an increase in the price of the currency pair, and negative news to its decrease, and vice versa when tracking news on the quoted currency included in the currency pair.
For example, there was a message about a reduction in the discount rate on the euro, this step will most likely lead to a downward trend in EUR\USD, we look at the chart and if the movement has begun, we open a sell order.