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MT5 Expert advisors

mrtools, Sat Jan 13, 2024 9:58 am

To be honest know nothing about Mt5 EA's so please bear with me, this is an EA far as I understand it trades off of the mt5 calendar. To get the EA to work and compile you will need to unpack the MQL5Book files folder and place it in your include section, have no idea if it works or how it works but will find out in my demo.

From mt5 site:

The results are not very impressive. Still, news trading is full of subjectivity. First, theoretical assessments of the impact of the actual value of the news on the course may differ from the emotional expectations of the crowd or additional information background (remaining outside the calendar and not quantifiable). Second, we have already mentioned the inaccuracy in the actual value publication time. Third, our strategy is implemented in the simplest form, without analyzing the preliminary price movement (when there was probably a leak and the news was "played out" earlier).

Overall, this test found that traders' favorite Nonfarm Payrolls or GDP reports do not guarantee success, at least not with our default settings. Further, it is required, in the usual manner, to analyze individual transactions, find out what went wrong, select parameters, and improve the algorithm, in particular, add a time adjustment module for switching DST in the server time zone.

At the same time, the technique itself works fine, and we can just try to choose the most successful news to begin with. For example, let's take news 276030003 (Ifo Business Climate). By setting it into EventID, we will receive the following report, coinciding with our calculated indicators.

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