News Catcher Pro: Parameters
Once you load News Catcher Pro on your chart, pop-up box will appear showing the settings of your EA. Make sure that all the settings and alerts are correct before clicking OK.News Catcher Pro parameters:Allow Opening a new Trade - enable/disable opening of new trades. You can disable it while having opened trades to have the EA close trades that are opened, but stop opening new ones after thatLot-sizing Method - select the lot sizing method according to the risk you want to take: Fixed Lots will use fixed lot size from the 'Fixed lot' parameter, Dynamic Lots will use 'Dynamic Lot' parameter, Max Risk per Trade will calculate lots based on % risk per trade, and 3 predefined presets will calculate risk automatically for you. When you choose one method you will only use the parameters that refer to it. For example, if you have chosen Dynamic Lots option you should use the 'Dynamic Lot' parameter below. Changing 'Fixed Lot' and 'Max Risk per Trade' won't matter. Also when you choose one of the predefined risk profiles all the three parameters below won't matterFixed Lot - fixed trading lot. If you want to have all trades the same fixed lot size, select "Fixed Lots" in the 'Lot-sizing Method' and set here the lot size you wantDynamic Lot - balance/equity to be used per 0.01 lot. If you want to have for example 0.01 lot size per 100 of your deposit select "Dynamic Lots" in the 'Lot-sizing Method' and set 100 in the 'Dynamic Lot' parameterMax Risk per Trade - will calculate the lot size, so that risk per trade stays within specified limit. E.g. setting this parameter to 5 will have all trades lose 5% of the deposit in case of hitting SLMaximum Lot - maximum allowed trading lot. The EA won't open trades higher than this lotMaximum Spread, in pips - maximal allowed spread for position closing. Works rarely, as most of the trades are closed using TPPortfolio Mode - allows you to run more than one set file (instance of the EA) and/or my other EAs (instances of Perceptrader AI and Golden Pickaxe) on the same account so that the EAs do not open new initial trades simultaneously.Initial Delay for Portfolio Mode, ms - time delay, which will be set automatically based on the UID value. This delay is necessary to ensure one set file recognizes the opened trades of another and skips the trading signal. Please note that set files of the same EA must have a unique UID!For example, if you run 2 set files on the same account and want to prevent the same pair from being opened by both set files simultaneously, then I recommend setting as follows:First set file: Portfolio Mode=true, UID=Second set file: Portfolio Mode=true, UID=1Consider WAKA Orders (Portfolio only) - the EA will take into account open trades of WakaWaka in portfolio mode.Consider PAI Orders (Portfolio only) - the EA will take into account open trades of Perceptrader AI in portfolio mode.Consider GP Orders (Portfolio only) - the EA will take into account open trades of Golden Pickaxe in portfolio mode.ML-based Pattern Recognition & Filtering - enable/disable filtering of trades using ML-based candlestick pattern filter. The filter increases the trading quality but reduces the number of trades.ML-based Pattern Filter Threshold - the minimal predicted probability that a trade will result in profit.Max Floating Drawdown in Money - if the floating drawdown in money exceeds the specified value, the EA will perform actions specified in the 'Max Drawdown Action' parameter. This option can be used, for example, to prevent losses higher than specified by your prop trading firmMax Floating Drawdown % for each Symbol, separated by comma - allows you to specify the max. drawdown % separately for each symbol.Only One Symbol if Grid reaches this Level [0-disabled] - this option allows you to temporarily reduce the "Maximum Symbols at a Time" to one if an open grid reaches the specified level.Do Nothing if During Rollover - set to true if you want to ignore max. drawdown checks during rollover.Max Random Delay before sending Orders, sec [0-disabled] - maximum random delay in seconds before sending an order. Values over 15 seconds are not recommended.Allow sending SL along with an order (for a non-ECN acc.) - if true, then the EA will send SL along with orders. If false, then SL will be set after the order is sent and executed.Symbols separated by comma - list of pairs to trade. Suffix needs to be included if your broker uses one! Supported pairs: GBPUSD, EURUSD, EURCHF, USDCAD, USDCHF + CHFJPY, AUDCAD, EURCAD, EURAUD. First 3 ones are the preferred option (like on Best Pairs and MT 5 Extreme signals)Hour to Start/Stop Placing Orders - when to start/stop placing pending orders. Set Smart Time Filter to false if you want to optimize these parametersSmart Time Filter - enable/disable smart time filter, it is preferred to enable this parameter, unless using custom set files with optimized timing parametersHour to Stop Trading (on Friday) - hour to stop trading (on Friday). All open positions will be closed at this hour. Set it to 22 if you do not want trades to be held over weekendsNew Year Holiday Filter - enable/disable Christmas/New Year filter. It is recommended to use this filter to prevent low-liquidity market tricks during these holidaysStopLoss, in pips - stop loss value in standard 4 digit pips. By default are used different optimal SL values for different pairsHide StopLoss - enable/disable SL hiding. You may use this option to hide your real SL from the brokerRollover Time Filter - enable/disable the rollover filterSwap Filter - cancels trading on Wednesday evening in the direction of the negative swap or cancels trading on every day when swap is exceeded (parameter is adjustable). It is preferred to be used with the default value. Can be disabled on swap-free accountsMax Negative Swap, in pips - max negative swapMax Drawdown Action - allows specifying actions to be taken after the max. drawdown is reached (in money or %):'Close trades & stop trading for 24h' - the EA will close all open trades and will not open new ones for 24 hours;'Close trades & stop trading until restart' - the EA will close all open trades and will not open new ones until the EA/MT restarts;'Prohibit opening new trades' - new trades will be prohibited as long as the floating drawdown is above a specified value;'Prohibit opening new trades until restart' - new trades will be prohibited until the EA/MT restartsMax Drawdown Action - Max Drawdown Calculation - allows to specify how the maximum drawdown is calculated:'The account' - takes into account all positions opened on the account, including trades opened manually or by other EAs;'This strategy' - takes into account only positions opened by this set file of the EAMaximum Net Number of Currencies - allows to limit the number of open trades with the same currencies (not symbols/currency pairs) in the same direction. The parameter does not lead to performance improvements on tests, still, it limits risks, so it is recommended to be used with a value of 2 when more than 3 pairs are traded at a time. This parameter limits the exposure to risk in a smart way (not just by limiting the number of pairs traded)For example, we set 'Maximum Net Number of Currencies'=2 and got 3 position open:- long EURUSD- long GBPUSD- short EURCHF- Net number of open positions with the same currencies- EUR = 0 (long EURUSD + short EURCHF- USD = -2 (long EURUSD + long GBPUSD)- GBP = 1 (long GBPUSD)- CHF = 1 (short EURCHF)As you can see, USD has reached the max. limit (-2), so any orders that can lead to a new short USD trade (for example, short USDCHF) will be canceled and prohibitedMedium Impact News - enable/disable news events with medium impact (2 stars news)Low Impact News - enable/disable news events with low impact (1 star news)Speaks - if false, then the EA will not take into account news events marked as Speeches/SpeaksNews List Refresh Rate - news events list update frequency (selection from the drop-down list)Symbol Suffix - here you can specify a symbol suffix if your broker uses onePlacing Orders During Rollover Time - enable/disable placing pending orders during rollover timeFriday Half Lots - halving trading lots on Friday eveningHandle Max Drawdown Events on Every Tick - enable/disable drawdown event handling on every tick (instead of once a minute that is used by default, it may consume more CPU resources)Max Daily Drawdown Limit % FTMO Rules in Money [0-disabled] - maximum daily drawdown limit in MONEY, calculated according to the FTMO rules. Non-trading operations (like withdrawals) during the day are not taken into accountMax Daily Drawdown Reset Hour FTMO Rules (Broker time) - hour to reset the max. drawdown with the prop firmMin Profit To Close Trade Before Midnight, in pips [0-disabled] - automatically closes profitable trades before midnight if the specified profit is reachedHide TakeProfit - on/off TakeProfit hidingMax Open Lots - here you can put a value limiting the total lots that can be opened by the EA on all currency pairsMinutes to Stop Trading - minutes to stop tradingBlock Trading for the Entire Day - prohibits opening new trades throughout the day if HV hits the specified level just once at any moment during the dayShow Stats - show a panel with some statisticsAllow Opening a new Trade - enable/disable opening of new trades. You can disable it while having opened trades to have the EA close trades that are opened, but stop opening new ones after thatUse ChatGPT Forecast - enable/disable filtering of trades using ChatGPT forecasts.Use Bard Forecast - enable/disable filtering of trades using Google Bard.Rollover Start Hour - rollover start hour.Rollover Start Minutes - rollover start minutes.Rollover End Hour - rollover end hour.Rollover End Minutes - rollover end minutes.Send Orders During Rollover - enable/disable sending orders (including grid trades) during rollover time.Remove TakeProfit/StopLoss During Rollover - removes TP/SL for all orders at the specified rollover time. This option helps to avoid closing trades via TP/SL during bad trading conditions.Pause Between Grid Trades, in min [0-disabled] - a minimum pause between grid trades in minutes.Custom Multipliers sep. by comma (e.g., 2,4,8,16,32) - custom multipliers for each GRID step separated by a comma, for example - 2,4,8,16,32Calculate Levels from Initial Trade - if true, then entry prices of grid levels will be calculated based on the entry price of the initial trade. In this case, if the distance of the previous grid is very large, the next grid can be formed shorter than 35 (by default) or even inside the previous grid. If false, then the entry price of a grid level will be calculated based on the entry price of the previous grid to form grids with distances greater than 75 (by default).Force Basket Closure once the Initial Order is Closed - option to force basket closure once the initial order/trade is closed by TP or by manual intervention