News OCO expert advisor MT4

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This News EA is a MetaTrader expert advisor designed for forex news trading. It uses a one-cancels-others (OCO) strategy to manage trades automatically and can trail winning positions to maximize profits during high-volatility news events.

News (oco) main functions

Automatically places a defined number of opposite pending orders above (long) and below (short) the market price just before major forex news releases
Deletes the opposite pending orders as soon as one order is triggered (OCO – One Cancels Others), ensuring precise news trade management
Supports stop-loss, take-profit, trailing stop, and break-even settings for effective risk management

The News EA is designed specifically for forex news trading using an OCO (One Cancels Others) approach. This allows the EA to automatically close opposite pending orders once a triggered order becomes active, an essential feature for trading high-volatility news events.

Traders using the EA usually place a buy-stop and sell-stop pending order just before an important news release. During and immediately after the news, the price can move sharply in either direction, triggering one pending order and deleting the opposite one, minimizing risk while capturing potential profits.

Trade examples

How to trade forex news with RobotFX News EA on EURUSD chart

OCO stands for One Cancels Others – when the price triggers one pending order, all opposite pending trades are automatically canceled.

The RobotFX News EA is different from other OCO expert advisors because it can place multiple pending orders at custom distances from each other, giving traders full control over their forex news trading strategy. It also includes essential features such as stop-loss, take-profit, break-even, and trailing stop for professional risk management.

As illustrated in the chart above, the EA placed three pending orders for both buys and sells. When the price hits the first pending order, the RobotFX News EA automatically cancels all remaining opposite pending orders, ensuring precise and efficient forex news trading execution.

News Settings

OCO news allows the creation of more than 2 pending orders, just before forex news release

Enter your Client Email - fill this with your email IF you are using a paid version of this EA on a LIVE account
Change to news time - enter here the date/time when the news will happen (you can find this on numerous forex sites, such as ForexFactory or DailyFX)
Place pending orders (minutes before news) - enter the number of minutes before the news, when the EA will place the pending order(s); use decimals for seconds
Delete pending orders (minutes after news) - enter the number of minutes after the news release when the EA will start deleting the pending orders from the chart
Enable OCO (one cancels others) - set to true if you want the news EA to start deleting opposite pending orders as soon as the first pending order becomes active

Example: if the price will hit a pending buy order, the EA will attempt to close the sell pending orders

Trades of each kind - set the number of pending sells and buys allowed by the EA to open
The distance between them (pips) - this is the distance between the trades of the same kind
Distance from current price (of first pending order) - the distance (at the forex news release time), where the EA will place the first opposite trades (ie 1st buy and 1st sell)
Stop-loss (in pips, from current price) is the distance where the EA will place the stoploss for the pending orders it opens
Take-profit (in pips, from first order) is the distance, in pips, where the EA will place the takeprofit, relative to the price level of the 1st order
TrailingStop/BreakEven - as soon as the price reaches this distance in pips, from a positive profit trade, the EA will place the stoploss at breakeven, and if the price will continue in the trader's favor, the SL will continue to move (ie trailing stop)
TrailingStep - the step (number of pips) the price has to move in favor of a positive trade for the EA to consider dragging the stoploss so it wil be place at the TrailingStop distance (above) away from the price at that moment
Slippage - applies to both placing the pending orders and trailing the price and it is measured in pips
MagicNumber - used to restrict the EA to monitor only trades with this number, in case the trader wants to open/manage other trades on a similar chart

Watch how RobotFX News works

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Download News EA free

Download News EA - free version

Fully functional MetaTrader expert advisor, limited to demo accounts for risk-free testing

6 Comments

Aindréas Kirby

Dude, this thing is a lifesaver for news trading. I used to mess up entries all the time, but the OCO feature is legit. No more stressing about which way the market's gonna go after a big announcement. It just handles it, pretty sweet

Anonymous

Honestly, I'm not the best at reacting fast during news, so this EA is a blessing. It's quick, efficient, and I've actually bagged some decent pips. It's not perfect, sometimes there's slippage, but for the automation, it's worth it

Tushar

Pretty solid piece of kit

Diodorus

If you trade news, you need this. Period. It takes the emotion out of it, which is half the battle. I've seen a noticeable improvement in my results, and I don't feel like I'm gonna have a heart attack every time NFP comes out. Cheers to the devs

Antonescu

Been using this for a couple weeks, and it's been surprisingly good. I was tired of manual OCO orders, this does it all. Saves me time and stress, and it's actually profitable. A bit tricky to set up at first, but once you get it, it's smooth sailing

Finally, an EA that actually works for news events. I was skeptical, but my account has seen some nice bumps since I started using it. It's fast, and the auto-cancellation of the other order is a game-changer.