Thread: Forex News Indicator

Hi Guys,
I've got an idea for an indicator that I'm going to have coded for me and I'd like a bit of advice as I'm not sure what would be best.

Basically I would like a database of all regular scheduled news events. The database would contain the name of the news event, the date and the time. I'm pretty sure that's all that would be needed.

Then, the indicator would be used to let the user highlight these news events on a chart, the user would select which news events they want to see or dont want to see.

The more complicated part that I'd like would be to find the average pip movement for when these news events take place. i.e. for news event A, the price on average moves 70 pips up or down. The average would be found by gathering the pip movement each time this news event was supposed to take place and finding the average movement for each hour that the news event took place in.

The reason for this would be to allow it to act as a filter of sorts for trades. For example, if a news event is comming up that moves the price by more than x amount, close all trades and don't open any more until a few hours after the news event, or move stops to 10 pips within price (This way you'll catch the move if it's a positive one and not lose much if it goes against you).

Right, my question is (Finally), how should this all be set up?
What kind of database should I use is the main thing, if an excel spreadsheet would work that would be acceptable.
How would the database thing work if it was hosted on my website rather than than on my home computer?
Would it make a difference?

The reason I ask is because I'm having this created by someone else, 2 people infact, 1 web designer to handle the database (If it even needs to be a database) and 1 to handle the indicator creation.

Oh yes, another very important question, where can I get all of the new events times and dates? Preferably in a form that it can simply just be scraped by a program and put into a file rather than me manually having to type all of it in.

Any help and advice would be very much appreciated.

Warmest regards
Steve

It was created long time ago. Without average pip movement but it is very advanced: with this one:
"highlight these news events on a chart, the user would select which news events they want to see or dont want to see" and many many other options.

FF calendar indicator FF Calendar Indicator for MT

Our forum calendar indicator, News EA and SignalTrader Indicators/EAs for news and trading signals

wow, great thanks. That should save me a decent some of money and confusing trying to explain it to a coder.

I've never seen that part of the forum, thanks, it will be bookmarked.

I'll check out that indicator and say so if it isn't what I was expecting.

thanks again

regards
steve

It's helpful for me！