News Scope EA PRO v1.2 Review

3rd Party Verified Live Trading Results

How to backtest News Scope EA PRO

If you wish to back-test News Scope EA PRO, first you should download history from the MetaTrader history center: click Tools -> History Center, or press the "F2" key on the keyboard. In the list, find the currency pair that you wish to back-test and double click to expand it. Click "1 Minute (M1)" and then click "Download". When the download process is finished, double click on "5 Minutes (M5)" and "15 Minutes (M15)" to convert the M1 data (repeat this for the rest of the time frames). Close the "History Center" window. Restart the MT4 terminal in any case. Check the below image!

To open the "Strategy Tester" window click the "Strategy Tester" button on the MetaTrader menu, or press "Ctrl+R" on the keyboard. In the "Strategy Tester" window chose News Scope EA PRO, chose one of the supported currency pairs, chose M1 timeframe, and chose the method "Every tick ...", as shown below. Click "Start" to start the back-test.

IMPORTANT! When you test News Scope EA PRO for the first time on the strategy tester, the EA may download a big CSV file with news for the past years. Therefore the strategy tester may freeze. If after clicking the start button you don't see any activity please stop the test and restart the terminal. This should fix the problem. After this test again. This time everything should be fine.

Metatrader Strategy Tester News Scope EA PRO Backtests

News Scope EA Pro v1.2 EURUSD - 2014 to 2021 - 99.9% Modelling Quality Dukascopy Tick Data Backtests

Trading Strategy

Usually, when a major news event occurs, the price spikes in one, or both directions and this creates an opportunity for short-term scalping. If the magnitude of the price movement is strong enough, the trader could gain 20, or in some rare cases even more than 100 pips in a few seconds.

While, the liquidity issues in such high volatility moments could lead to spread increase, execution delay, and slippage, brokers' conditions have continuous improvement in the last years making the spreads during major news events, lower than ever, creating a good opportunity for profitable news trading.

News Scope EA PRO Features

• Exit by a trailing stop, or back-tick detection.

• Semi-automated and fully automated modes.

• Low drawdown.

• Solid 17-year backtest performance

• Multiple currency pairs support.

• Advanced News Filter.

• Precise time and news detecting filters.

• NFP and FOMC only trading mode.

• Email and Push Notification system.

• Friday Exit System.

• Single or multiple-cascade order modes.

• High spread detection filter.

News Scope EA PRO Metatrader Parameters

==== Risk Management ====

• FixedLots - fixed trading volume (works if AutoMM=0).
• AutoMM - values greater than 0 (zero) activate automatic ММ (traded volume as a percentage of free margin).

==== General Settings ====

• Slippage - maximal allowed slippage for position opening.
• MaxSpread - maximal allowed spread for position opening.
• MagicNumber - magic number - it is extremely important to keep this different for all robots.
• StartTrail - value in pips. When trade's profit is equal to this value the EA set trailing stop.
• TrailStop - value in pips. The trailing stop value.
• EA_Coment - text which will be added as a comment to each trade opened by News Scope EA PRO.

==== Pending Orders Settings ====

• PlaceOrders_OnInit - true/false - whether to place or not pending orders during initialization of the EA.
• ExitAll_OnDeinit - true/false - whether to close or not all orders during de-initialization of the EA.
• ExitAll_OnInit - true/false - whether to close or not all orders during initialization of the EA.
• CloseOnTradeHour - true/false - whether to close or not all orders before to place pending orders.
• TradeDirection - possible values: -1 only short trades; +1 only long trades; 0 long and short trades;
• AddDistance - the distance between the current price and the first pending order in pips.
• AddStep - the distance between each pending orders in pips.
• AddCount - the number of pending orders to be placed.
• StopLoss - the stop loss value for pending orders. 0 - means not stop loss.
• ExpireMinutes - the expiration time for pending orders in minutes.
• DeleteAfterSeconds - placed pending orders will be deleted after X second (X is value of DeleteAfterSeconds)
• CloseOnReversePips - when there is a reverse X pips then the EA will close all active orders with the idea to protect the profit. (X is value of CloseOnReversePips)

==== Time Management System ====

There are 5 slots for setting custom time for placing pending orders. For example the news will be at 11:30 then you can set TradeHour_1=11 and TradeMinute_1=29. The EA will place pending orders 1 minute before the news time.

• TradeHour_1 - hour for placing pending orders. Slot 1.
• TradeMinute_1 - minutes for placing orders. Slot 1.
• TradeHour_2 - hour for placing pending orders. Slot 2.
• TradeMinute_2 - minutes for placing orders. Slot 2.
• TradeHour_3 - hour for placing pending orders. Slot 3.
• TradeMinute_3 - minutes for placing orders. Slot 3.
• TradeHour_4 - hour for placing pending orders. Slot 4.
• TradeMinute_4 - minutes for placing orders. Slot 4.
• TradeHour_5 - hour for placing pending orders. Slot 5.
• TradeMinute_5 - minutes for placing orders. Slot 5.

• MondayTrading - true/false - enable or disable trading on Monday
• TuesdayTrading - true/false - enable or disable trading on Tuesday
• WednesdayTrading - true/false - enable or disable trading on Wednesday
• ThursdayTrading - true/false - enable or disable trading on Thursday
• FridayTrading - true/false - enable or disable trading on Friday

==== GMT Settings ====

• GMT_Offset - winter GMT offset of your broker.
• Calculate_DST - true/false - Set TRUE if the broker shifts the GMT offset with +1 in Summer. Set FALSE if broker use same GMT offset whole year.

==== News Filter Settings ====

• PlaceOrdersOnNews - true/false - enable/disable placing trades before news.
• Include_Medium_News - true/false – include, or not the medium impact news. The high impact news are included by default.
• NFP_FOMC_ONLY - true/false - when true the EA will place pending orders only during NFP and FOMC news.
• PlaceOrdersBefore - value in seconds. The EA will place the pending orders X second before the news (X is value of PlaceOrdersBefore).
• DeleteAfterNews - placed pending orders before news will be deleted after X second (X is value of DeleteAfterNews). This parameter is different than DeleteAfterSeconds. It is only for panding orders placed before news while DeleteAfterSeconds is for pending orders placed based on the Time Management System.
• Tolerance - the EA may place the pending orders with X seconds delay (X is value of Tolerance).. Sometimes there are not ticks at the right moment and the EA may wait a few second for the first tick to appear after the right moment.

==== Notifications ====

• EMAIL_Notification - true/false - enable/disable email notifications.
• PUSH_Notification - true/false – enable/disable push notifications to mobile phones.

Configure MT4 terminal to allow WEB Requests to the following URL: http://www.fxautomater.com Only this way the news filter will be able to work properly!

You can find it in: MT4 terminal -> Tools -> Options -> Expert Advisors -> Allow WebRequests for listed URL (check the image below):