MT4 News Indicator | Forex News & Economic Calendar Indicator for MT4 (2024)

Trading around the timing of news releases is one of the more popular methods of trading the forex market. Economic data releases and other news items frequently change the views of market participants, leading to price moves. News trading is most relevant to the forex market, but can also be applied to indices, commodities and bonds.

The most important news releases occur when government agencies release updated economic statistics like economic growth, inflation or employment data. Economic data is released at scheduled dates and times, so the entire market reacts to the news at the same time. Typically, prices consolidate just before a news release, volatility increases after the release, and a new trend may develop.

There are lots of approaches to news trading. Some traders focus on the data release and how it compares to analysts’ estimates. Others ignore the actual data and focus on the price action. Some traders use volatility to get a favorable entry in the direction of a prevailing trend.

Automated systems can also capitalize on price moves if the time and date of each release are loaded into the trading system. Many of these use stop buy and a stop sell orders just above and below the market price to open a position regardless of the direction the price moves. Other automated strategies wait for the first price move after the initial reaction, as the second move is often more reliable.

Whichever approach you use, there are several tools and news indicators you can use. Most important is some type of real-time economic calendar so that you know when news is due to be released.

It is very important for a trader to track news in advance in order to know exactly when a particular publication will be released and which trading instruments it will affect. Most Forex web-sites contain a news calendar, but it takes a lot of time to study it and constantly switch between charts of MT4 terminal and the web-site, which increases the risk of missing an important news event and reduces the speed of trading response to current market events. The solution to the problem is an automated MT4 news indicator. The news indicator will clearly show the exact time an economic release is expected so you can track all the events easily.

MT4 News Indicator is an indicator that displays information about past and upcoming news events of Forex economic calendar.

The indicator is specially adapted for use on the most popular MetaTrader 4 trading platform.

The indicator info panel contains all the necessary data on one chart. Displaying economic news directly in the trading terminal, it eliminates the need for the trader to search for the events on the Internet and allows to completely concentrate on trading. The indicator always displays current data and is updated online. The news source is the well-known among traders forexfactory.com web-site.

MT4 News Indicator is a key tool that helps traders to not miss any important news event. Therefore, for the convenience of its use, it is not overloaded with unnecessary information and contains only the most important data for analysis and decision making:

• Day and Time: Day and time of a news event;
• Symbol: The currency that will be affected by the publication of the economic data. The indicator displays news for each currency pair available on Forex market;
• Name: Name of the report/event of the economic calendar. Upcoming events are displayed both in the information panel and on the chart in the form of a vertical line with a listing of the main data and in accordance with the news release time;
• Impact: Assessment of the degree of importance of the event and its probability to significantly affect the movement of the market. The information panel displays 2 types of major economic events, the color and significance of which depends on the assessment of their importance: HIGH (Red) — high level of influence and MEDIUM (Orange) — medium level of influence;
• Influence: The actual assessment of the impact of published data. The assessment is carried out according to 3 variants of the development of events: coincidence with the forecast (NO influence) (NO is also used for the events that are still expected), BETTER — the data turned out to be better than the forecast, and WORSE — the data turned out to be worse than expected;
• Status: Shows the current status of the event: publication of the data is expected, or the event have already been published.

Another important point in terms of ease of use of the indicator is the location of the information panel in a separate window under the chart. This solution allows you to view the chart without interference and adjust the size of the indicator panel based on your personal preferences.

The importance of the fundamental analysis and events of the economic calendar in Forex trading is undeniable and, in our opinion, the news indicator will become an effective and useful addition to any trading strategy.

If you need your own news indicator designed for your individual needs, request a free consultation with our team of professional MQL4 developers and find out the cost and development conditions of your project. At your request, we can also develop a news indicator for MetaTrader 5, NinjaTrader 7/8 and cTrader platforms.

Our solutions are recognized by competent software architecture and high quality code. You will receive a product that simplifies technical analysis and improves your trading efficiency.

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