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Expert: News Catcher Pro_fix.ex4 v4.24 (Unlocked MT4 Build 1420+), Document: Servers.txt, NO MANUAL.
News Catcher Pro – Smart Mean-Reversion Trading Around High-Impact News
News Catcher Pro is a specialized Expert Advisor designed to trade the forex market using a mean-reversion strategy focused on intraday volatility caused by major news events. It times entries shortly before important news releases when price swings are most predictable, aiming to profit from the market’s natural pullback after sharp moves. Unlike many EAs, it trades selectively and infrequently, focusing on quality over quantity.
Supported Currency Pairs & Timeframe
GBPUSD, EURUSD, EURGBP
Recommended timeframe: 5-minute (M5) chart
Key Features
One Chart Setup: Attach the EA to just one M5 chart (EURUSD recommended) to trade all supported symbols automatically.
Multi-Pair Support: Works seamlessly across multiple currency pairs.
Advanced News Filter: Integrated news filter helps avoid risky trades around news events and works in the Strategy Tester for realistic backtesting.
Auto GMT Detection: Automatically adjusts to your broker’s time zone for accurate trade timing.
Self-Diagnostic System: Continuously checks for correct operation to keep your trading smooth.
Backtesting Advice: For best backtest accuracy, use Tick Data Suite with GMT+2 and US Daylight Savings settings, matching most broker times.
Installation & Setup
Attach the EA to a single M5 chart (preferably EURUSD).
If your broker uses suffixes (like EURUSD.a), update the symbol names in the settings.
Use only the recommended pairs — no separate .set files needed, all settings are internal.
Enable web requests to these URLs for the news filter and GMT detection:
Requirements
Run the EA continuously on a VPS for best results.
Prefer a good ECN broker for optimal spreads and execution.
Important Settings Overview
Allow Opening a New Trade: Toggle trading on/off.
Lot-Sizing Method: Choose from Fixed Lots, Dynamic Lots (balance-based), Max Risk %, or presets.
Fixed Lot / Dynamic Lot / Max Lot: Control your position sizes and risk exposure.
Max Spread & Slippage: Set maximum allowable spread and slippage limits to protect against poor execution.
Max Symbols & Net Currency Trades: Limit the number of open trades simultaneously and control exposure per currency.
Buy/Sell and Hedging Options: Enable or disable buying, selling, or hedging strategies.
Margin & Drawdown Controls: Automatically stop placing orders or close positions if free margin or drawdown thresholds are hit.
Take Profit / Stop Loss: Use volatility-based targets calculated as percentages of ATR (Average True Range).
News Filter Timing: Set how many minutes before or after news events trading is allowed.
Trading Strategy
News Catcher Pro trades by detecting predictable volatility patterns around high-impact news events and capitalizing on mean reversion. It uses carefully tuned price channels, ATR values, and timing rules to enter and exit trades efficiently, minimizing risk and maximizing reward.
