As FxAutomater; the developers of Forex Diamond EA, have received numerous requests from their customers over the last few months, they have finally added a News Filter to their decent EA. This will be favored by trades who prefer to avoid trading during high-impact news events, this was included in a new version 5.0 of the EA with other interesting new features.
Visual Risk Level Indication
This is to make it easier to define the risk level to be used in trading, so:
- Low Risk is considered if the risk of trading is lower than 1% – BLUE.
- Moderate Risk is considered if the risk of trading is between 1% and 3% – ORANGE.
- High Risk is considered if the risk of trading is higher than 3% – RED.
Setting The Risk Level Default for All Signals to Auto MM 0.5% Per Trade
This aims to protect Forex Diamond EA customers from taking too high risk mistakenly. If higher risk is desired, the risk level can be changed anytime.
News Filter Settings
- The news filter is disabled by default, to be enabled, AvoidNews parameter is to be set to true.
- GMT_Offset is one of the most important News Filter parameters, the winter GMT offset of the broker should always be used for this parameter.
- DST_usage is the next parameter in importance as in case that the broker provides two different GMT offsets, one for winter and another for summer, DST_usage should be set to true, while if the broker uses only one GMT offset for all seasons, DST_usage should be set to false.
- Other Parameters:
- Include_Medium_News: true / false; if set to true, medium-impact news will be avoided.
- Wait_Before_News: it's a time period in minutes during which trading will be disabled before a news event.
- Wait_After_News: it's a time period in minutes during which trading will be resumed after a news event.
New Image Logo and Colors
These features will not directly affect the trading results of Forex Diamond EA, but they will improve the EA user interface and make it more easier for beginners and more interesting and useful for experienced traders.
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Risk
Forex trading can involve the risk of loss beyond your initial deposit. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.
Forex accounts typically offer various degrees of leverage and their elevated profit potential is counterbalanced by an equally high level of risk. You should never risk more than you are prepared to lose and you should carefully take into consideration your trading experience.
Past performance and simulated results are not necessarily indicative of future performance. All the content on this site represents the sole opinion of the author and does not constitute an express recommendation to purchase any of the products described in its pages.