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Manual News Trading with Timed Pending Orders in MetaTrader 4

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Summary

This document describes a MetaTrader 4 expert advisor for trading around scheduled news releases. The user must enter the release time, lot size, stop-loss, and take-profit settings, with the start time intended to be set one minute before the announcement. Timing must use the broker’s server clock. The listed inputs also include a delay, price offset, optional trailing stop and trailing gap, and switches to enable buying or selling. Later versions added a magic number and an adjustable pending-order expiry.

The author does not guarantee reliable profits and says results may depend on acting after hearing favorable news. No event-selection process, order-placement logic, slippage assumptions, or performance records are supplied. The document therefore gives setup parameters and operational cautions, but not enough detail to assess the strategy’s expected returns or execution risk. News releases can move prices quickly, and the note provides no evidence that its settings manage those conditions consistently.

Key ideas

  • The expert advisor is designed for trading around scheduled news releases in MetaTrader 4.
  • Users must set the release time using their broker’s server time and configure trade size and exits.
  • The listed options include a price offset, delayed execution, optional trailing stops, and direction switches.
  • Pending-order expiry and a magic number were added in later versions.
  • The author gives no profit guarantee, and the document provides no performance evidence or execution analysis.

Tags

Event-drivenForexExecution

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