News Trading System - Possible Automatio
News trading system:
1) First we select high-impact news. Suppose NFP is our selective news.
2) Assume that the NFP message is published at 7:30 pm (BD time)
3) We have to wait for the 7:30 PM 1 minute candle to close. After closing that candle we have to draw the FIBO extension (if the candle is bearish then we should draw the close as high and if the candle is bullish we should draw the close as low)
4) After the Fibonacci plot, we will wait for a pullback.
5) When the Fibonacci 61.8 level is hit, we trigger the first entry point and the second entry point comes from the Fibonacci 50 level.
6) Stop loss Fibonacci 0.00 level + 10 pips
7) TP Fibo 161.8, 261.8 and 423.6 Zones** This is a news trading system. Just need Fibo extension drawing auto. The EA will automatically enter the trade when the price reaches our desired area.
How we want to create the EA:
1) The trader can modify his FIBO wish area. Some traders want to trigger from 50, others are happy with the 38.2 area. Therefore the trader can modify his zone. So we need 4 Fibonacci level options. Traders can use the “True-False” option
2) High-impact news and medium-impact news graphs should be displayed in the chart. Traders can modify it via the “true – false” options. If the trader selects the "False" option, it means that the news will not be displayed on the chart. But EA must act based on real news data.
3) EA must understand the news. When I run the EA on the chart, it should follow the news (which means no Fibonacci levels should be drawn after running the EA, and entries will not be triggered until the news is released.) The EA must follow real news time data.
4) Trailing stop loss and breakeven systems are required in NEWS EA.
5) The batch size should be modified.
1) First we select high-impact news. Suppose NFP is our selective news.
2) Assume that the NFP message is published at 7:30 pm (BD time)
3) We have to wait for the 7:30 PM 1 minute candle to close. After closing that candle we have to draw the FIBO extension (if the candle is bearish then we should draw the close as high and if the candle is bullish we should draw the close as low)
4) After the Fibonacci plot, we will wait for a pullback.
5) When the Fibonacci 61.8 level is hit, we trigger the first entry point and the second entry point comes from the Fibonacci 50 level.
6) Stop loss Fibonacci 0.00 level + 10 pips
7) TP Fibo 161.8, 261.8 and 423.6 Zones** This is a news trading system. Just need Fibo extension drawing auto. The EA will automatically enter the trade when the price reaches our desired area.
How we want to create the EA:
1) The trader can modify his FIBO wish area. Some traders want to trigger from 50, others are happy with the 38.2 area. Therefore the trader can modify his zone. So we need 4 Fibonacci level options. Traders can use the “True-False” option
2) High-impact news and medium-impact news graphs should be displayed in the chart. Traders can modify it via the “true – false” options. If the trader selects the "False" option, it means that the news will not be displayed on the chart. But EA must act based on real news data.
3) EA must understand the news. When I run the EA on the chart, it should follow the news (which means no Fibonacci levels should be drawn after running the EA, and entries will not be triggered until the news is released.) The EA must follow real news time data.
4) Trailing stop loss and breakeven systems are required in NEWS EA.
5) The batch size should be modified.
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