I have limmited testsing on this. But looks great so far. Full instructions are in the EA.
Be sure to...
1. set "Enable.News. Trading" to true and "Place.Straddle. Immediately"
parameter to false when trading news
2. set "Enable.News. Trading" to false and "Place.Straddle. Immediately"
parameter to true if you want to play a narrow range breakout
unrelated to news events.
3. set "Enable.News. Trading" to false and "Place.Straddle. Immediately"
also to false if you want the ea to simply work as a trailing ea for
manual positions. Please do read the documentation inside the code.

Dave

any results this far to post ?

there was a bug in previous where it made an order once s/l or tp was hit. here's the latest version. Once a trade has been made and completed it won't make another untill reset. Its not a run 24/7 ea.

Dave

Don't run this live. Its got a bug or something. I sent the maker a mesage and results of my tests.

when s/l or tp is hit its immediatly placing other orders and messing up the profits.

It shouldn't place another order once the triggered one is complete,untill reset.

Once this is taken care of this can be a great EA for breakouts and news trading.

Is anyone else testing and having the same problem?

Hi everyone,
I don’t have anything against posting EA’s found on other groups or forums because I do believe in the value of sharing. I have done that myself a couple of times, but every time I always quoted the author of the code and the group from which it was found, at least when this data is available inside the code. This is just a remark and by no means a complaint, but from an ethical point of view it is only a small but fair contribution to all the coders who freely and gladly share their work.
This said, just a quick explanation on what this ea can do.
- You can use it for baby sitting manually opened positions. In that case it will check and immediately fill SL and TP if you didn’t fill that already at the time you placed your trade. It will trail your position by any amount of pips, but also scale out multi lot positions closing them partially every xx pips as well as secure your positions to any breakeven level you want.
- You can use it as a range breakout expert during low volume / quiet market consolidation periods. In that case it will put pending buy and sell orders xx pips above and below price and if a position is triggered you can either have the ea remove the opposite pending order or keep it also. Of course all the functions on trailing, breakeven and partial profits take out will also kick in.
All order management here is done by the ea.
- You can use it as a straddle EA for news events. In that case you can specify how long before news release you want it to place the 2 pending orders so we get rid of spread widening issues or platform freeze problem. The ea will take it from there and it will start adjusting these 2 pending orders, keeping them at the same initial distance above and below price as price moves. This will be done every minute until x minutes before the event.
As Dave said, everything is more than documented inside the code, with detailed explanations and examples on every parameter and every mechanism.

I hope it will be valuable. As usual, use it at your own risk. Demo trade first so you get acquainted with all the settings and how it works.

Yannis

Edit: just saw your post Dave. Market was dead last night when i "fixed" the bug so i couldn't check it. I am going to as soon as possible and update version.
Thanks for your feedback.

This EA worked very well on the GDP deflator at 8.30EST.

Some suggestions re settings would be helpful.

I changed the Distance from price down to 20 and it activated the buy trade and cancelled the sell just before a retrace which almost immediately closed the order. The price continued downwards just far enough to have activated the sell order if it had not been cancelled. Then immediately rose and would have closed the sell order.

My settings were correct for FXDD time zone but would not be correct for SFBX or IBFX

ShutDown.NOW=0
sStr00= 0=Everything
sStr01= 1=All Triggered Positions
sStr02= 2=Triggered Long
sStr03= 3=Triggered Short
sStr04= 4=All Pending Positions
sStr05= 5=Pending Long
sStr06= 6=Pending Short
ShutDown.What=0
ShutDown.Current.Pair.Only=1
sStr1==== POSITION DETAILS ===
Lots=0.30000000
Take.Out.Lots=0.10000000
Slippage=10
StopLoss.Pips=30
TakeProfit.Pips=60
Trail.Pips=10
Trail.Starts.After.BreakEven=0
Move.To.BreakEven.Lock.pips=1
Move.To.BreakEven.at.pips=10
sStr2==== NEWS EVENT ===
Enable.News.Trading=1
Distance.From.Price=20
Event.Start.Hour=15
Event.Start.Minutes=30
Pre.Event.Entry.Minutes=5
Stop.Adjusting.Min.Before.Event=2
Remove.Opposite.Order=1
Adjust.Pending.Orders=1
Place.Straddle.Immediately=0

I have taken screen prints to illustrate the continued action and I have to say that the EA worked perfectly but there is some school of thought that suggests that those spikes are carefully manufactured just to trap the straddlers.

John

Attached Images

	straddle1.GIF (35.5 KB, 1556 views)
	straddle2.GIF (55.6 KB, 1172 views)
	straddle3.GIF (59.6 KB, 1132 views)
	straddle4.GIF (57.6 KB, 1213 views)

I trade FXDD real account. Actually in adition to mine I manage accounts on fxdd also. There are no price spikes caused by this broker. I am certian of that.

Dave

Yannis,

Thanks for the info, very helpful. I was trading the news with an EA, and then consolidation via manual method. I guess the EA will now be able to help me instead of having to do what I have been doing.

xxDavidxSxx,

Thanks for finding such an EA.

Hi everyone,
Here is the latest version (3.30). This one should take care of the problem, i tried it today on a few occasions (not during news though), SL was hit on 3 trades without triggering any other trade immediately.

John,
I don't know if it's a "common" problem with MT4 brokers, but one thing is sure. They know all too well that most of the "small" traders trading news have their stops between 15 to 30 pips max. Usually when i straddle the news, i try keeping my pending orders around 30 pips distance from price. Depending on volatility and price movement as time approaches i may change my settings from initial 30 pips to 25 or 20. Generally i prefer getting in for as much as the broker allows me to be close to the price with my trail. I prefer to take what i can from the table with more lots than to be greedy and go after the big one. If it goes fast one way (my way hopefully) i don't mind but i don't let it reverse if i can. If my stop is hit, i turn to manual and stay on hold and evaluate. Often i stay out until things settle down and i get a clearer picture. News never end.

Yannis

Thank you Yannis,

I have downloaded your latest edition and have set it to operate during the upcoming JPY announcements.

After your comments on Distance from Price I have reverted to your original setting 30 pips.

Is there a setting to terminate this EA after a period of time inactivated?

I will be at work when the EA activates so it will be flying alone.

John