Forex Factory News Expert Advisor

Forex Factory News Expert Advisor review:

Expert Advisor designed for news trading.

The news are downloaded from the Forex Factory,, websites.

Make sure to add the URL to the terminal settings.

The EA should be attached to each currency chart. In the Symbol News field, set the currency symbol for searching news in the calendar. Example: if the EA is attached to the AUDUSD chart, set Symbol News to AUD; if USDCAD, Symbol News – CAD, XAUUSD Symbol News – USD, and so on. Change the magic number for each chart, any timeframe.

The robot works with pending and market orders. It places two Buy stop and Sell stop orders before a news release, or sets levels hidden from the broker. In case a level is broken, an order is opened.

The EA features a function for trading news from the list using pending and market orders. To use this, add the desired news to be traded and specify the numerical deviation for opening an order.

Test results:

Forex Factory News Expert Advisor


  • Type Trade – trading type (trade news from the calendar or news entered manually)
  • Symbol News – symbol of the news
  • Order Type for Type 2 – type of orders for trading news entered manually
  • Time to read calendar data, sec – time to read the data from the calendar from the list for the trading type 2 with market orders
  • Distance to orders – distance to place orders and levels
  • Hide pending orders setting – hide placement of orders
  • Hide Take Profit setting – hide placement of take profit
  • Hide Stop Loss setting – hide placement of stop loss
  • Take Profit – take profit
  • Stop Loss – stop loss
  • Type of initial lots – use a fixed lot or a free margin percentage
  • Fixed lot – fixed lot to be used in trading
  • Using margin, % – free margin percentage to be used in trading
  • Profit transfer stop to breakeven – breakeven activation
  • Step breakeven – breakeven step
  • The trailing stop – trailing size
  • Step trailing stop – trailing step
  • The maximum spread – maximum spread to open an order
  • Slippage – maximum slippage. If a slippage exceeds a specified value, orders are removed
  • Interval modify orders – move orders towards the price after a specified time interval in seconds (0-off)
  • Align the order of, s – place stop orders before a news release in seconds
  • Remove pending orders through min – delete orders if none has been triggered after a specified time
  • Open new orders if there are open orders – open new orders if there are open orders present on the given currency pair
  • Max Drawdown – maximum drawdown percentage
  • Magic Number – magic number
  • Comment – comment to orders

Doubling the opposite order

  • Doubling the lot of the opposite pending order – when one of the orders triggers, an opposite order with a doubled lot will be placed.
  • Number of doubling (1-3) – how many times orders will be doubled
  • Interval modify orders of, s. (0-off) – modification of the order following the price (disabled if 0)
  • Distance – the distance for placing the order
  • Deleting pending orders, sec. – deletion of doubled order

Limit orders before news releases

  • Use setting limit orders to the news – use limit orders before news releases (on/off)
  • Distance – distance for limit orders
  • Stop Loss – stop loss
  • Lot – лот
  • Trailing stop – trailing stop value
  • Step trailing stop – trailing step
  • Remove limit orders through sec. – deleting limit orders after this time

Hedging settings

  • Use Hedging – use hedging (enable/disable)
  • Distance – hedging distance
  • Coefficient of Take Profit – take profit ratio (to determine the take profit distance, the distance is multiplied by the coefficient)
  • Coefficient for lot Hedging – lot multiplier

Limit Orders grid setup

  • Use a limit order grid – use a grid of limit orders
  • Distance – distance to place limit orders
  • Max. count. limit orders – the maximum number of limit orders
  • Trailing Stop Break Even – total trailing of limit orders
  • Take Profit on the Break Even – take profit based on breakeven
  • Number martingale limit order (0-off) – number of the martingale limit order (0 – disabled)
  • Coefficient – lot multiplier

Time Configurations

  • Use auto set GMToffset – detect the MetaTrader 4 server time automatically or set manually
  • GMToffset Server – MetaTrader 4 server time

Calendar Settings

  • Selecting calendar – selection of the calendar
  • Trading High News – trade high impact news
  • Trading Medium News – trade medium impact news
  • Trading Low News – trade low impact news
  • Show High News – show the high impact news on the chart
  • Show Medium News – show the medium impact news on the chart
  • Show Low News – show the low impact news on the chart
  • Show markers news – display news markers
  • Use Alert News – signal about the upcoming news
  • Time before Alert News – time before the news for the signal

Settings for manually entered news

  • Description of the news – name of the news to trade
  • Change for BUY – deviation to open a buy trade
  • Change for SELL – deviation to open a sell trade

Testing by time

  • Time test news 1 – time of the test news
  • Time test news 2 – time of the test news

Download our other Free Forex Robots For Metatrader 4


Copy and paste the file into the MQL4 Experts folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Experts (paste here)

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