How to auto-disable EA trading on news or pre-programmed hours
- Pre-programmed market trading hours (e:g: If you want to trade only Asian session)
- During major high impact news events (compatible with FFcal indicator from ForexFactory)
Get a free DEMO version
(Demo works only on AUDCAD pair and during 6,12,13,21,22,23,0,1,2,3 hours)
1.Installation and activation of Indicator
1a) Make sure the EA is installed in your local MQL/Indicators directory. Depending on your system configuration this will be one of the following directories:
1b) Make sure the Auto trading and DLL imports are enabled:
1c) Activate your Indicator copy:
DEMO version: If you are running demo version make sure the LicenseKey Indicator parameter is set to ‘DEMO’ and you have entered valid email address in EmailAddr field. After that go to your mailbox and activate this product by clicking on the provided link in the welcome email.
FULL version: If you have purchased this product you should have received a welcome email together with a valid LicenseKey code. Enter this code into Indicator LicenseKey parameter and then just run the Indicator.
Note: If you did not get any email, check your spam folder as well.
2a) EaBlockByHours: This parameter enables and disables blocking using specific hours given by ‘AllowedTradingHours’ parameter.
2b) AllowedTradingHours: This parameter specifies which trading hours are allowed. So when set to e.g.: ‘12,13,14,15’ the MT4 AutoTrading button will be enabled only during those hours. This means all EA’s running on this MT4 terminal will be blocked.
2c) EaBlockByNews: This parameter enables and disables ‘News blocking’ feature. This mode is compatible with the FFcal news indicator from ForexFactory, which displays vertical lines on chart at the time when high impact news event is expected.
2d) NewVerticalLineName: When operating in EaBlockByNews mode the EaBlocker indicator will look for ‘vertical lines’, displayed on chart by the FFcal news indicator, and will block the AutoTrading in case when the current time is within NewsBeforeMinutes and NewsAfterMinutes time window w.r.t. the next vertical line indicating upcoming news event. This feature can be used to automatically disable MT4 AutoTrading before and after major news events that can lead to unpredictable and volatile market behavior.
2e) NewsBeforeMinutes/NewsAfterMinutes : As explained in 2d.
Below example of News blocking option in action = in this example the AutoTrading option is locked 2h before major news event:
In order to make it work you need to setup the NewCal indicator properly and run it on TimeFrame specified by VLineMaxPeriod to see the vertical lines on chart: