Quantina Precision Forex News Spike Trader EA
Latest Released Version: v1.1 (2021)
Developed by Quantina Intelligence Research Lab. in The United Kingdom
How to install:
Australian Employment News – June settings:
Australian Employment News – June Results:
Forex Economic News Release
Quantina Precision Forex News Spike Trader EA (Quantina PFNS EA). We call it “precision” because our Expert Advisor is working on the tick and timing method at the same time. Quantina Precision Forex News Spike EA can be used for multiple news event-related strategies. This is a tool and not a completely automated forex robot, however, you can “set it and forget it”. Main aim to use our EA on or after forex news events or so-called Economic News Release. Economic Data are released multiple times each month and week.
Since markets move because of forex news, economic data is often the most important catalyst for short-term long-term movements. This is particularly true in the currency market, which response not only to the U.S. economic figures but also to news from all around the world.
Quantina Intelligence has been released multiple forex news-related applications, expert advisors, and indicators from 2013 till today.
Which Currencies Are The Most Influencer
With at least eight major currencies available for trading at most currency brokers, there is always a piece of economic data slated for release that forex traders can use to make informed trades. Normally, seven or more pieces of data are released almost every weekday (except holidays) from the eight major most-followed countries. So for those who choose to trade news, there are plenty of opportunities. The eight major currencies are
1. U.S. dollar (USD)
2. British pound (GBP)
3. Euro (EUR)
4. Japanese yen (JPY)
5. Canadian dollar (CAD)
6. Australian dollar (AUD)
7. New Zealand dollar (NZD)
8. Swiss franc (CHF)
Trading on news is harder than it may sound. Not only is the reported consensus figure important, but so are the whisper numbers (the unofficial and unpublished forecasts) Also, some releases are more important than others; this can be measured in terms of both the significance of the country releasing the data and the importance of the release in relation to the other pieces of data being released at the same time. (Investopedia)
Direction at a news release is not so important and not relevant
Because with this strategy and with this EA you do not need to watch and understand the released economic data. You do not need to worry about the straddle issues and also, you do not need to afraid to spread hunter brokers. All you have to do is to use our EA and set the news date/time on it as your broker’s time zone.
High Impact News Releases
When trading news, you first have to know which releases are actually expected that week. Second, knowing which data is important is also key. Generally speaking, the most important information relates to changes in interest rates, inflation, and economic growth, like retail sales, manufacturing, and industrial production. (Investopedia) We are using the Forex Factory’s calendar to determine what is the expected level of impact at news releases. However, many other publicly available economic calendars can be found all around the internet like FX Street Calendar, or Investing’s Economic Calendar.
The Key: Retracement level after Spike at News
Based on Quantina Straddle Trader EA in 2014 the Straddle trading is described as a method of simply placing two pending orders before the economic news is released, a buy-stop and a sell-stop. The essence of this is to set a trap to capture market moves after a news release, which may go either way. If the news release comes out bullish, a bullish spike would trigger the buy-stop order and hopefully, the trader will make some money. The same applies to bearish spikes. So with straddling, the direction of a news release is not so important and not relevant, however with straddling you can get a false spike or high spread catch. A more relaxed and more wised solution is to wait for a couple of seconds after the report. Monitor closely the initial spike direction and wait for the retracement before you enter the market. With our EA you can set the waiting time where EA will monitor and record the initial spike direction and you can also set the retracement level in percentage. With pre-set of the EA you can half automatize the trading strategy.
- MagicNumber: Individual unique ID. The EA will only manage the position of the chart symbol with this magic number.
- MoneyManager: EA will automatically determine the number of lots for your orders, according to the risk you are willing to take.
- Risk Percent: The risk in percent you are willing to take on any single order. Calculated according to your Actual Balance.
- TradingLot: Number of Lots of your orders; if you set Money Manager to false then you have to tell the EA how many lots to use for the orders.
- NewsDate: The date and time where EA will start to monitor the price spike. Format is yyyy.mm.dd hh:mm (24 hours)
- SpikeDurationInSeconds: How many seconds will the EA be in standby mode to monitor the price movements from NewsDate.
- SpikeActionTreshHoldInPip: Market price needs to move at least this much pips to trigger BUY or SELL order in from NewsDate.
- RetracementDurationInSeconds: EA will wait for these seconds from the news date for the market to get correction, or called retracement level to get triggered.
- RetracementPercentage: EA will wait until the market price gets a correction or called retracement from the initial spike.
- MaxTradeHoldTimeInMinutes: EA will close the opened order (by this EA) even in profit or loss If the time is over.
- StopLoss: Stop Loss amount in pips. EA can also close the opened orders If time is over by MaxTradeHoldTimeInMinutes.
- TakeProfit: Target (Take) Profit: Amount of pips, when your order gets the profit that equals this amount of pips, it will be closed automatically. EA can also close the opened orders If time is over by MaxTradeHoldTimeInMinutes.
- MaxSpread: Maximum Allowed Spread just before entering the market.
- DisplayPanel: If it’s true EA will draw the nice and fancy panel to the chart with useful information on it.
- TradeComment: a comment that will be displayed in the transaction log. Our recommendation is to type the news event name here.
- Slippage: the slippage parameter within which the trade will be executed in case of a requote. The slippage parameter may not work for some brokers
Samples of the Market Movement:
USA Manufacturing PMI
on February 1, at 10:00 am, the USA Manufacturing PMI number was released, so in the first 3 seconds, the price of USDJPY spiked down by 91952.8 pips from 92045.0 to 92.2. Then the price started retracing, and within about 12 seconds retraced to a 100% level of 92118.0. So you would Sell at 92118.0, set a stop/loss at 92128.0, and set a take/profit at 92108.0. 12 minutes after the report the take/profit was hit yielding 8.0 pips of profit, given that your spread at the time of the entry was at exactly 2 pips. (Forex Peace Army)
on June 5, at 9:30 pm, Australia’s GDP number was released, so in the first 5 seconds, the price of AUDUSD spiked up by 47.7 pips from 0.97755 to 0.98232. Then the price started retracing, and within about 10 seconds retraced to a 30% level of 0.98089. So you would Buy at 0.98089, set a stop/loss at 0.97939, and set a take/profit at 0.98239. 1 minute after the report the take/profit was hit yielding 12.0 pips of profit, given that your spread at the time of the entry was at exactly 3 pips. (Forex Peace Army)
USA ADP Nonfarm Payroll (all-time favorites)
on July 5, at 8:15 am, the USA ADP Nonfarm Payroll number was released, so in the first 7 seconds, the price of USDJPY spiked down by 79591.1 pips from 79671.0 to 79.9. Then the price started retracing, and within about 25 seconds retraced to 100% level of 79826.0. So you would Sell at 79826.0, set a stop/loss at 79836.0, and set a take/profit at 79816.0. 7 minutes after the report the take/profit was hit yielding 8.0 pips of profit, given that your spread at the time of the entry was at exactly 2 pips. (Forex Peace Army)
1: Download the latest version of Quantina EA. Usually, It is 1 file only. (no DLLs, no Indicators needed)
2: Open your MetaTrader4 Terminal / File / Open Data Folder
3: Copy your downloaded Quantina xxxxxxx.ex4 file into your MT4 Data Folder \ MQL4 \ experts \ Quantina
4: Refresh your Expert Advisors at your Navigator window (right-click / refresh)
5: Open a currency pair chart with M1 (One Minute timeframe) and attach your
Quantina EA from navigator window.
Minor updates on settings and feature’s name.
Released beta version