NewsHound is a MetaTrader 4 Expert Advisor (EA) that allows you to trade the spike in price caused by news announcements. You provide a few parameters to define when to enter a trade and how to manage it and NewsHound does everything else for you, automatically.
You can set the EA in place minutes or hours prior to the trade and then, just seconds before the news announcement, NewsHound will straddle the current price with pending Buy and/or Sell orders. NewsHound considers the Spread before creating orders--if the broker increases the spread beyond a specified threshhold, the orders will not be created.
When the price spike activates the pending order, the NewsHound sets your initial stop loss and, as the trades moves along in profit, it trails, pip by pip, behind the price by a specified number of pips. It then takes profit at specified profit points or lets the trade fall back to exit in profit at a stop loss point.
Because the price moves so quickly on an announcement, the NewsHound can manage the trade much more quickly and more efficiently than you could do so manually.
Note: Before purchasing, please check with your broker to insure that they allow hedging. Some brokers consider pending Buy/Sell orders to be a hedge, even though only one of the orders is actually opened.
The NewsHound is FREE.
To download, click here.
Below is a snapshot of the results of trading the Australian Employment Change announcement--51 pips of profit.
"Thanks very much for this awesome product. In just one
week it returned about 20 times it's cost." ~ Michael L.
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