Thread: Add a news filter

Here is a code for the news filter.

Extern parameters :

Code:

extern string S8="---------------- News Filter";

extern bool UseNewsFilter=false;//|---------------use news filter
extern int StartNewsFilter=0;//|------------------start news filter
extern int EndNewsFilter=24;//|-------------------end news filter
extern int MinsUntilNews=30;//|-------------------minutes until news
extern int MinsAfterNews=30;//|-------------------minutes after news
extern string News1="3=High; 2=Medium; 1=Low";//|-news impact information
extern int NewsImpact=3;//|-----------------------news impact
extern bool CloseProfitableTrades=true;//|--------close profitable trades before the news
extern bool CloseAllTrades=true;//|---------------close all the trades before the news
extern bool ShowAlerts=true;//|-------------------show alerts

Conditions :

Code:

&&(Hour()>StartNewsFilter&&Hour()<EndNewsFilter&&UseNewsFilter==false||(UseNewsFilter&&NewsFilterCheck()))

Functions :

Code:

//|---------close profitable trades before news

void CloseProfitableTradesBeforeNews()
{
   for(int cc=0;cc<OrdersTotal();cc++)
   { 
      if(OrderType()==OP_BUY || OrderType()==OP_SELL && OrderSymbol()==Symbol() && OrderMagicNumber()==Magic)
      {
         if(OrderProfit()>=0)bool ticket=OrderClose(OrderTicket(),OrderLots(),OrderClosePrice(),10,CLR_NONE);
           return;
      }
   }
}

//|---------close existing trades

bool CloseExistingTrades(int type)
{
   if(OrdersTotal()==0)return(true);
   for(int cc=0;cc<OrdersTotal();cc++)
   {
      OrderSelect(cc,SELECT_BY_POS);
      if(OrderSymbol()==Symbol() && OrderMagicNumber()==Magic && OrderType()==type)
      {
         bool result=OrderClose(OrderTicket(),OrderLots(),OrderClosePrice(),5,CLR_NONE);
         if(!result)
         {
            int err=GetLastError();
            if(ShowAlerts)Alert(OrderTicket()," ",Symbol()," OrderClose failed with error(",err,"). ");
            Print(OrderTicket()," ",Symbol()," OrderClose failed with error(",err,"). ");
            return(false);
         }
         else 
         {
            if(ShowAlerts)Alert(OrderTicket()," ",Symbol()," OrderClose");
            Print(OrderTicket()," ",Symbol(), "OrderClose");            
            return(true);
         }
      }
   }
   return(true);
}

//|---------news impact

string Num2Impact(int impact)
{
   if(impact==3)return("HIGH IMPACT");
   if(impact==2)return("MED IMPACT");
   if(impact==1)return("LOW IMPACT");
   else return("");
}

//|---------news filter check

bool NewsFilterCheck()
{
   if(!IsTesting())
   {
      int  minutesUntilNextEvent=iCustom(NULL,0,"FFCal",true,true,false,true,true,1,1);
      int  minutesSincePrecEvent=iCustom(NULL,0,"FFCal",true,true,false,true,true,1,0);
      int impactOfPrecEvent=iCustom(NULL,0,"FFCal",true,true,false,true,true,2,0);
      datetime dTime=minutesUntilNextEvent*60;
      string sTime=TimeToStr(dTime,TIME_MINUTES);
      string sText;
      bool TradeAllowed=true;
      
      if(minutesUntilNextEvent>MinsUntilNews&&(impactOfPrecEvent<NewsImpact||(impactOfPrecEvent>=NewsImpact&&minutesSincePrecEvent>MinsAfterNews)))
      {
         sText=StringConcatenate("No News within the next ",sTime);
      }
      else
      {
         int impactOfNextEvent=iCustom(NULL,0,"FFCal",true,true,false,true,true,2,1);
         string sImpact=Num2Impact(impactOfNextEvent);
         if(StringLen(sImpact)>0)sImpact="["+sImpact+"] ";
         sText=sImpact+"News in "+sTime;
         if(impactOfNextEvent>=NewsImpact)
         {
            TradeAllowed=false;
            if(CloseProfitableTrades && OrdersTotal()>0)CloseProfitableTradesBeforeNews();
            if(CloseAllTrades && OrdersTotal()>0){CloseExistingTrades(OP_BUY);CloseExistingTrades(OP_SELL);}
         }
      }
      return(TradeAllowed);
   }
}

Put FFCal.mq4 in the indicators folder.
Put WebGet.dll in the libraries folder.

If you have a better code, don't hesitate to post.

Hi Funyoo,

How can I use FFCal to trigger new position 30 mins before high impact news? Thanks in advance.

Regards,
Jdk

Originally Posted by jidonk

Hi Funyoo,

How can I use FFCal to trigger new position 30 mins before high impact news? Thanks in advance.

Regards,
Jdk

Hello jidonk and everybody,

Here is an easier way to do

After the extern parameters, add :

Code:

extern bool AvoidNews=true;
extern int MinimumImpact=1;
extern int MinsBeforeNews=30;
extern int MinsAfterNews=30;

At the beginning of the start body, add :

Code:

   bool ContinueTrading=true;
   if(AvoidNews)
   {
      static int PrevMinute=-1;  
   
      int MinSinceNews=iCustom(NULL,0,"FFCal",true,true,false,true,true,1,0);
      int MinToNews=iCustom(NULL,0,"FFCal",true,true,false,true,true,1,1);
         
      int ImpactSinceNews=iCustom(NULL,0,"FFCal",true,true,false,true,true,2,0);
      int ImpactToNews=iCustom(NULL,0,"FFCal",true,true,false,true,true,2,1);

      if(Minute()!=PrevMinute)
      {
          PrevMinute=Minute();
          if((MinToNews<=MinsBeforeNews &&  ImpactToNews>=MinimumImpact) || (MinSinceNews<=MinsAfterNews && ImpactSinceNews>=MinimumImpact))ContinueTrading=false;
      }
   }

In each entry conditions, add :

Code:

&& ContinueTrading

Finally copy the two attached files in the indicators folder.

FYI, for anyone who is using News Avoidance in your EA. You will need to update the web adress within the code to make it work.

Here is the link to the post from Twee.
Forex Factory - View Single Post - FF Calendar Indicator for MT

Originally Posted by altoronto

Question, so with this code will not trade 30 mins. before and 30 mins. after news, right?

TIA

Hi altoronto,

That's correct.