Economic News Trading with Event Filters, Risk Controls, and Impact Rules

Summary

This installment develops an MQL5 Expert Advisor that trades around economic-calendar events. It adds filters for calendar importance, event frequency, sector, type, and currency, along with configurable pre-entry timing, fixed stop-loss and take-profit levels, and several ways to size exposure against balance or free margin. It also describes a spread rating based on recent one-minute spread observations, chart displays for upcoming events, and market-order direction rules tied to event impact and the currency affected.

The article focuses on implementation and configuration rather than demonstrating profitability. Its spread categories use recent observed minimum, median, and maximum values, so the rating depends on the selected symbol and sample period. The supplied text does not provide outcome statistics, transaction-cost analysis, or evidence that the impact-to-direction rules have predictive value. The author describes this as a functional step in a larger series, with further event-specific filters and pending-order features planned for later installments.

Key ideas

• The Expert Advisor filters calendar events by importance, frequency, sector, type, and currency.
• Risk settings can size trades relative to balance, free margin, or a stated maximum-risk volume.
• The spread rating compares the current spread with recent one-minute spread observations.
• Trade direction is determined by event impact and the relationship between the event currency and symbol currencies.
• The installment describes implementation but supplies no profitability evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.