Want to trade and don’t miss the impact of news and events on Forex market again? MT4 features such a robot that follows the news and trades in two modes: actual against previous and actual against forecast.
MT4 robot Fundamental Trader DailyFX uses the downloaded calendar to pick up the news that will have an impact on the currencies and decides the trading strategy accordingly. This expert only uses the chart to execute orders, and, as such, you can use in all timeframes and all chart types.
Fundamental Trader DailyFX EA for MT4 Working principles
Fundamental Trader DailyFX robot for MT4 uses the news in two modes:
- Actual data compared to forecasts
- Actual data compared to previous data
Depending on the differences between these data, the EA predicts the price move and places orders: high difference means large lots orders, while low difference means minimal lot orders. The lot size is pre-set from 1 to 18 and the EA chooses one depending on the percentage of the difference between the data it analyses.
In short, the Fundamental Trader expert advisor:
- Identifies the next news in the calendar and waits for its release for 27 minutes
- Identifies the type of data: actual/forecast or actual/previous
- Sets the trading currency, trend, and size of the lots
- Executes order
The particularity of this EA is that it places only one order based on one piece of news. It sets the waiting time until the order is executed, and then closed the order as per the determined trend. This EA uses data from all the countries included in the DailyFX calendar and can cover all major currencies.
Your data is not covered by DailyFX? Pick another MT4 trading robot!