News Trader
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called News Trader. Its name points to economic news times. In the code it works with ATR. It raises the lot size after losses (martingale — high risk), moves the stop behind price and can size trades from your risk. It has 28 settings, for example News Time (default __DATE__), Stop Loss (default 15) and Take Profit (default 75). Before any live use, test it on a demo account and check its lot size, stop loss and trading hours. Inside: 1 EA file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Expert advisor · MT4 · v1.0 · Free
About News Trader
News Trader is an expert advisor (trading robot) for MetaTrader 4 based on ATR. It increases the lot size after a losing trade (martingale), moves the stop loss behind price (trailing stop / break-even) and can size trades from your balance and risk percent. It has 28 settings, such as News time, Stop loss and Take profit. MQL source code included.
It also has a news filter.
Files in the download: NewsTrader.mq4.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| News time | __DATE__ | News date/time. |
| Stop loss | 15 | Stop-loss in broker's pips. |
| Take profit | 75 | Take-profit in broker's pips. |
| Direction | Both | Direction of the trade to open. |
| Trailing stop | None | Type of trailing stop based on stop-loss. |
| Pre adjust sltp | false | Preadjust SL/TP until news is out. |
| Seconds before | 18 | Open trade X seconds before the news. |
| Close after seconds | 3600 | Close trade X seconds after the news, 0 - turn the feature off. |
| Spread fuse | true | SpreadFuse - prevent trading if spread >= stop-loss. |
| Use atr | false | Use ATR-based stop-loss and take-profit levels. |
| Atr period | 14 | ATR Period. |
| Atr multiplier sl | 1 | ATR multiplier for SL. |
| Atr multiplier tp | 5 | ATR multiplier for TP. |
| Lots | 0.01 | Trade size in lots |
| MM | true | Money Management, if true - position sizing based on stop-loss. |
| Risk | 1 | Risk - Risk tolerance in percentage points. |
| Fixed balance | 0 | FixedBalance - If greater than 0, position size calculator will use it instead of actual account bal |
| Money risk | 0 | MoneyRisk - Risk tolerance in base currency. |
| Use money instead of percentage | false | |
| Use equity instead of balance | false | |
| Lot digits | 2 | LotDigits - How many digits after dot supported in lot size. For example, 2 for 0.01, 1 for 0.1, 3 f |
| Show timer | true | Show timer before and after news. |
| Font size | 18 | |
| Font | Arial | |
| Font color | clrRed | Colour on the chart |
| Slippage | 3 | Maximum slippage allowed when opening a trade |
| Magic | 794823491 | Magic number that tells this EA's orders apart |
| Commentary | NewsTrader | Comment - trade description (e.g. "US CPI", "EU GDP", etc.). |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Experts.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the expert advisor from the Navigator onto a chart, check the settings, allow Algo/Auto Trading and press OK.
- Test it first on a demo account or in the Strategy Tester.
Tags: News Trading · Martingale · Trailing Stop & Break-even · Risk & Lot Size · ATR · MT4 Expert Advisor · MQL4 Source Code