Introduction
The MT4 News Stopout EA is an Expert Advisor (EA) that automatically closes all open trades during news releases. This is done to protect traders from losses that can be caused by sharp price movements during news releases.
How does it work?
The MT4 News Stopout EA uses a variety of methods to identify news releases. These methods include:
- Checking the economic calendar
- Monitoring news websites
- Listening to news feeds
Once a news release is identified, the EA will close all open trades. The EA can be configured to close trades a few minutes before the news release, or it can be configured to close trades immediately after the news release.
Benefits
The MT4 News Stopout EA can help traders to protect themselves from losses that can be caused by sharp price movements during news releases. This is especially important for traders who are using automated trading strategies, as these strategies are more likely to be affected by news releases.
- Protects from losses caused by news volatility
- Can be used with automated trading strategies
- Easy to set up and use
How to use
To use the MT4 News Stopout EA, you will need to:
- Install the EA on your MetaTrader 4 platform.
- Configure the EA to your liking.
- Start the EA.
The EA will automatically close all open trades during news releases.
Here are some of the things you can configure in the MT4 News Stopout EA:
- The list of news events that the EA will close trades for.
- The time in advance of the news release that the EA will close trades.
- The maximum number of trades that the EA will close during a news release.
You can also configure the EA to close trades for specific symbols or timeframes.
Once you have configured the EA, you can start it by clicking on the "Start" button. The EA will then start monitoring the news calendar and will close all open trades when a news event is triggered.
Where to get the MT4 News Stopout EA?
The MT4 News Stopout EA is available for free on the MQL5 forum. You can also find it on other websites, such as 4xPip.
Here are some of the places where you can get the MT4 News Stopout EA:
- MQL5 forum: The MQL5 forum is a forum where traders and developers can share trading strategies, indicators, and EAs. You can find the MT4 News Stopout EA in the "Expert Advisors" section of the forum.
- 4xPip: 4xPip is a website where you can find different trading bots, indicators, EAs, and other trading tools. They also offer a free trial so you can test out the bots before you buy them.
- Other websites: There are other websites that offer the MT4 News Stopout EA. However, it is important to be careful when downloading EAs from third-party websites, as there is a risk of downloading malware or viruses.
Best settings for the MT4 News Stopout EA
The best settings for the MT4 News Stopout EA will vary depending on your individual trading strategy and risk tolerance. However, there are a few general settings that you may want to consider:
- News events to monitor:The MT4 News Stopout EA can be configured to monitor a variety of news events, including economic releases, central bank announcements, and political events. You will need to decide which news events you want the EA to monitor based on your trading strategy.
- Stop-loss level:The MT4 News Stopout EA will automatically close all open trades at a predetermined stop-loss level when a news event is detected. You will need to decide on a stop-loss level that is appropriate for your risk tolerance.
- Close all trades or close only losing trades: The MT4 News Stopout EA can be configured to close all open trades or to close only losing trades when a news event is detected. You will need to decide which option is best for your trading strategy.
Here are some additional tips for choosing the best settings for the MT4 News Stopout EA:
- Start with conservative settings. It is always better to start with conservative settings and then adjust them as needed. This will help to protect your trading account from unnecessary losses.
- Backtest your settings. Once you have chosen some initial settings, it is a good idea to backtest them on historical data. This will give you an idea of how the settings would have performed in the past.
- Monitor your performance. Once you have started using the MT4 News Stopout EA in a live trading environment, it is important to monitor your performance closely. This will help you to identify any areas where you may need to adjust your settings.
4xPip:
4xPip is a website where you can find different trading bots, indicators, EAs, and other trading tools. They also offer a free trial so you can test out the bots before you buy them.
The MT4 News Stopout EA is one of the products that 4xPip offers. It is an Expert Advisor (EA) that automatically closes all open trades during news releases. This is done to protect traders from losses that can be caused by sharp price movements during news releases.
Here are some of the features of the MT4 News Stopout EA:
- It can be configured to close trades for specific news events, symbols, or timeframes.
- It can be configured to close trades a certain number of minutes before or after the news release.
- It can be configured to close trades based on the volatility of the market.
- It is easy to install and use.
4xPip also offers a free trial of the MT4 News Stopout EA. This allows you to test the EA on historical data to see how it would have performed in the past. If you are looking for an EA to help you protect your profits during news releases, then the MT4 News Stopout EA from 4xPip is a good option.
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