Nonfarm Payrolls Advisor
News trading is one of the most attractive areas in the foreign exchange market, since it is at the moment of publication of the news that the most noticeable reaction of the forex market occurs.
Also, the popularization of news trading was influenced by the appearance of economic calendars, which sort all events by date, currency and degree of influence on the market, collect statistics and provide a detailed breakdown of the macroeconomic indicator.
Naturally, in such conditions, any person has the opportunity to develop the correct response scenario to the release of news.
However, experienced traders probably know that the market’s reaction to this or that news can be very unpredictable, and in their trading they take into account only the emergence of a market impulse, which they try to catch.
One of such news that an experienced trader will never miss is Nonfarm Payrolls.
However, it is not always possible for a trader to be at the monitor on Friday, which is why Forex advisors are often used. In fact, we propose to meet one of these experts in this article.
The advisor was developed as an assistant to the trader, but it can independently trade without any intervention from the trader. The advisor is not tied to a specific time frame, therefore it can be applied to any trading interval, and this in no way affects its performance.
You can also note that the robot is multi-currency, since all currency pairs with the dollar react in one way or another to the publication of Nonfarm Payrolls.
Installing the Nonfarm Payrolls advisor
The first version of the advisor, as well as the idea itself, were developed in 2011, after which the robot succumbed to deeper optimization and refinement, and as a result was added to the MT4 library.
Therefore, in order to use the robot, traders have two options for installing it, namely according to the standard scheme or through the built-in library.
To install through the library, launch your trading terminal, open the “Termina” panel and go to the “Library” tab. After simply sorting, find the Nonfarm Payrolls advisor in the list and download
If installation through the library is not possible, you can download the robot file at the end of the article, and then follow the standard procedure for installing the advisor.
After installation, restart the trading terminal, after which to start working you will only need to drag the name of the robot onto the chart.
Trading strategy of the Nonfarm Payrolls advisor.
Settings Nonfarm Payrolls is the strongest dollar news that comes out every first Friday of the month.
Knowing this pattern, the advisor places two pending orders, Buy Stop and Sell Stop, with the same lot, once a month at a certain distance from the price at a certain time. If one of the orders is triggered due to high volatility, the other one is automatically deleted, after which trailing is activated for the open position.
The robot does not use any averaging, but only processes the news with a clear profit and stop order.
The Nonfarm Payrolls advisor has a maximum number of settings that allow it to be optimized for any currency pair.
So in the StopLoss and TakeProfit variables you can set profit and stop orders in points for pending orders. The Trailing variable allows you to set the size of the trailing stop , and the BULevel variable allows you to specify after how many points the price moves towards profit the advisor will move the stop order to the point at which the trade was opened.
The StartHour and EndHour variables indicate the start and end times of the advisor's trading, and the Expiration variable indicates how many hours after placing pending orders they are automatically deleted.
In the Distance variable you can set the distance in points at which pending orders will be placed from the price, and in the Lot variable you can change the volume of positions.
Testing the advisor on history
To create an objective test, we decided to test the advisor on history with an attached set from the developer for the entire 2016 for the Euro/Dollar currency pair on a five-minute time frame.
You can see what came out of this below:
In conclusion, it is worth noting that the Nonfarm Payrolls advisor allows you to work out the most volatile news on the dollar and at the same time you are never afraid that you will miss it.
Of course, the robot’s profitability is not high, since it works only once a month, but nevertheless it is an excellent confirmation that effective trading can be done on the news.
Download Advisor Nonfarm Payrolls
Strategy for manual trading on Nonfarm Payrolls - http://time-forex.com/strategy/nonfarm-payrolls