Hey there, fellow traders! If you’re looking to capitalize on market volatility during major news events, let me introduce you to the Straddle News EA for MetaTrader 4. This tool leverages the principle that big news releases can lead to significant price swings, making it a perfect companion for your trading strategy.
The Straddle News EA operates by setting up two Pending Orders: a Buy Stop and a Sell Stop. Once one of these orders gets triggered, the other one automatically cancels. Plus, it features a trailing stop that follows the market movement, ensuring you don’t miss out on those quick gains. If the trade goes well, it’ll close automatically via the trailing stop or take profit. If not, it’ll exit at the stop loss. The best part? This algorithm is lightweight, which is crucial when trading during news releases.
Fully Adjustable Features:
- Stop Loss
- Take Profit
- Trailing Stop
- Pips Away (Set pending orders XX pips from the current Bid & Ask)
- Balance Used (Adjust lot size based on the balance used function; for instance, if BU = 1, you’ll use 100% of your available balance)
- Spread Operation (Allows spreads up to XX pips; if the spread exceeds this, no pending orders will be sent)
- Slippage (Allows slippage up to XX pips)
Recommendations:
Before you jump into trading, it's crucial to compile the source code (hit F5) if you plan on reusing it for future news events. This EA is designed to send only one set of pending orders per news event, so make sure you do this each time!
Five seconds before the news release, don’t forget to enable the EA manually 
.
It’s wise to choose a broker that doesn’t widen the spread too much during major news announcements—Alpari is a solid choice! While you can use any time frame, the timing of the news release is what really matters.
Recommended News Events for Trading:
- NFP (Non-Farm Payroll)
- GDP Reports
- Interest Rate Decisions
- Inflation Reports
- Trade Balance
- Manufacturing PMI
Good luck out there, and happy trading!
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