Stance News EA is a fundamental expert advisor that automatically trades news events, the expert can trade from Monday-Friday and you can set it to trade high impact news, if you rent a vps you can set it at the beginning of the week then it will automatically trade until Friday . Due to the fact that the market watch time varies depending on the broker/prop firm you are using, so if your real standard time is different from the market watch time, then you have to adjust your standard time to the market watch time so that whenever there's a news event then the EA can automatically trade that event precisely on time eg. whenever there's an news event that's going to take place at 04:00 on a Tuesday, but then your current standard time is 13:00 on a Monday, also on that very same time your current market watch time is 14:00, this means the market watch is forward by 1 hour thus you going to set the time as 05:00 instead of 04:00. So far this Expert advisor has not lost any Non-Farm Payroll News event over the past 9 months, which makes it highly effective
Timeframe
The EA works on small timeframes because news events mostly happen for a short period of time.
- M1
- M5
Backtesting
Unlike other EA's, Stance News Expert cannot be backtested in straight consecutive days, weeks, months and years. The reason behind this is that, high impact news affect the market of a certain symbol/currency at a certain period of time within a specific day, thus they do not affect the market of a certain symbol/currency everyday at specific time consecutively.
However, when backtesting you can only set for a specific date and time of the event. For instance, NFP which affects the US index mostly every first Friday of each month. For clarity, you can check these websites below for backtesting and setting the EA.
- fxstreet.com
- investing.com
- dailyfx.com
Symbols To Set For This EA
- EURUSD
- AUDCAD
- EURAUD
- GBPJPY
- CHFJPY
- EURNZD
- GBPUSD
- EURGBP
- GBPAUD
- NZDCAD
- NZDJPY
High Impact News To Set For This EA
- Consumer Price Index
- Interest Rate Decision
- Harmonized Index Of Consumer Prices
- Unemployment Rate
- Non-Farm Payroll (NFP)
- ECB Rate
Instructions
- Make sure you follow all instructions as mentioned in the description, EA inputs and the video.
- Do not set the EA on a pair that's overlapping at a certain time eg. if there's an event that affects the EUR index, and that very same time there's an event that affects the US index, this means that do not set the EA to trade EURUSD for that period of time, instead set other pairs that are not overlapping.
- If a pair has two high impact news that will affect it on the same day but on different times, set the EA to trade the event that will take place first within that day, and do not set the EA to trade the second event of the very same pair at that specific day eg. if there's an event that affects the CAD index at 09:00 on a Tuesday and on that very same day there's an event that affects the AUD index at 15:00, now you want to set the EA to trade AUDCAD, so this means that you have to set AUDCAD for 09:00 and ignore AUDCAD for 15:00.
