Advisor MSR NewsTrading (news trading).
The MSR NewsTrading Advisor is a unique news expert that works on news.
Most advisors are afraid of news, and their developers are trying in every possible way to avoid unpredictable price jumps by introducing various filters, especially trading restrictions.
But the question arises, if we see weakness and a certain pattern (even if it is negative for us), why not try to make a profit from it?
For many, trading on news is simply an impenetrable jungle. Indeed, there are so many different economic factors that you probably won’t be able to keep track of them all, let alone what lies behind these numbers. I won’t discover America incorrectly, but how many of you have seen the investing service?
On this service, almost all the routine work related to sorting news, their importance, and volatility was done for us. Many people simply use this news calendar, trading their hands on the data that comes out on it. But if it is difficult to predict where the price will go, then the very fact that the price will go somewhere at a certain moment can already help us make money.
Based on a simple pattern, the author decided to create an algorithm in which the trader can set in the settings in which direction the price, according to his opinion, can go in the event of news. If the price goes against us, the order is closed with a stop and a new one is opened in the opposite direction with an increased lot. You are probably tormented by the question, how does an expert know when the news will come out?
MSR NewsTrading works on the basis of an indicator, which in turn reads all the data from the same investing site, selecting news already sorted by importance.
Setting up and installing the MSR NewsTrading Advisor
Before starting work, the expert should be installed in the Meta Trader 4 trading terminal. To do this, download the archive with the advisor and indicator at the end of the article. With the platform running, go to the file menu and open the data directory. Copy the custom indicator to the indicators folder, and the advisor to the expert folder. Next, you need to restart the trading terminal. Find MSR NewsTrading in the list of experts and drag it onto the chart with the price. A settings window will appear in front of you, which we will talk about below.
Since the author is our domestic trader, all the settings that are present in the expert are written in Russian. The only thing I would like to recommend to you is to check the terminal time zone and set it to your real one. I believe that it is necessary to select the distance between pending orders, since different currency pairs react to similar news differently. For example, the euro fluctuates greatly from political statements, which is not typical for the pound.
In addition, I recommend reducing the lot multiplication factor in case of a losing position.
By default it costs 3, which is too risky for me. All other settings are visually clear and technical in nature. If you think that after the news is released the price will go up, then in the “Open Buy order first” line, put True. If you think that after the news is released, the price will go down, then in the line “Open a Sel order first”, turn on True. Since the expert is a news one, it cannot be run in the strategy tester. So I had to look for various information about him on forums. For example, one of the authors shared this report:
The MSR NewsTrading advisor deserves attention and is an excellent assistant for traders who trade on news. I would like to note that it contains the function of reversing a position in the event of a losing position, and as my bitter experience shows, the series of losing trades can be long. Also, when trading on news, it is important that you have a reliable broker, and not a kitchen. Thanks for your attention, good luck!