A Truly News Indicator

News release plays an important role in the lives of Forex traders. Whether you trade the news or not, you should always be aware of the important macroeconomic events release. Sharp price movements pose a hidden danger, and can at once take all your deposit, if not take precautions. This indicator is designed to ensure that you are always aware of the most influential news releases. It is enough to configure the display once and no trade event will pass by your attention.

Also, a unique Truly News Indicator feature is the ability to automatically turn off the advisors for N minutes before and turn on N minutes after the news release.

Indicator features

• Platform: Metatrader 4
• Currency pairs: Any
• Timeframe: Any
• Trading hours: Round the clock

Settings Description

Basic settings:

• GMT offset - broker timezone
• News Time Count - the number of news to display
• Show Table – to show the news table (not to show, top left, bottom left)
• Table Time - time display method (time remaining until the news, broker time, local time of the computer)
• Show Forecast - show the last news and forecast values
• Show Event Flags - show the news on the chart (not to show, only show flags; show flags and lines)
• Show History Flags - saving past news on the chart

Settings Currency:

• Show Only Pair News - show the news for the current currency pair
• Bank Holiday On - to take bank holidays into account
• Show USD News - what news to show for the bucks
• Show EUR News - what news to show for the euro
• Show GBP News - what news to show for the pound
• Show JPY News - what news to show for the yen
• Show AUD News - what news to show for the Australian
• Show NZD News - what news to show for the New Zealander
• Show CAD News - what news to show for Canadian
• Show CHF News - what news to show for franc
• Show CNY News - what news to show for yuan

Auto-Trade Options:

• Ignore open trades - ignoring the opened positions
• Stop Minutes Before - time of auto-trading turning off before the news
• Start Minutes After - time of auto-trading turning on after the news

Notifications settings:

• Show Caution BeforeNews - time for displaying the notification on the chart before the news
• Show Alert BeforeNews - time for displaying the regular alert before the news
• Send Mail BeforeNews - time of sending the letter to the mail before the news
• Send Notify BeforeNews - time of sending a push notification to a mobile application before the news

Visual settings:

• Main Panel Color - the color of the main panel
• Frame Panel Color - the color of the frame panel
• Background Transparent – transparency of the table
• Color Header - news header color
• Color Low News - color the least important news
• Color Medium News - Color the news of secondary importance
• Color High News - color of the most important news
• Color Bank Holiday - color of the news of the weekend

Indicator installation

Here, everything is standard, the installation process is similar to the conventional MetaTrader 4 indicator. Detailed installation instructions can be found on our website.

An important point: the need to allow terminal access to the http://www.forexfactory.com/ website. To do this, go to the Tools-> Settings-> Expert Advisors in the terminal, put a check “Allow WebRequest for the listed URL:” in the box below and put this address http://www.forexfactory.com/

When the indicator appears in the terminal, we throw it on the chart and do the initial setup. At first, we set a time shift relative to the Greenwich Mean Time (GMT). It is necessary for the proper news display on the chart, as brokers often use different time zones. For example, for Roboforex broker you need to specify a value of 2 at winter time, and 3 at summer time.

Also, if you are trading advisors, it is important to set the time of auto-trading turning off and on before and after the news. This will help to avoid triggering stops during high volatility times. Usually, 30 minutes is enough, but for weaker news, you can set even 15. Options controlling auto-trading are Stop Minutes Before and Start Minutes After.

If you trade manually, you can also configure alerts before the news release to be able to adjust stop levels during this time. This may be a warning in the terminal, in your email or a push notification on your phone to keep the track of events even being offline.

Conclusion

You can not take the fundamental analysis into account, but you can not cancel the fact that news creates the greatest movement in the market (remember the recent Brexit). Still, keeping the economic calendar opened is not always convenient. This indicator allows you to monitor events in the world, clearly showing the news on the chart. This does not distract from the trading process, and the indicator is rather an unobtrusive assistant. You might as well use the indicator as a trading tool, as development has extremely wide possibilities for customization.

Download Truly News Indicator