With the generous cooperation of the folks at ForexFactory, I have created an indicator which will tell you how many minutes till the next relevant news event (or two). Normally I peruse the Yahoo MetaTrader_Experts_and_Indicators group, where this has already been posted. But its only proper that it be posted here as well.
In order to use it, you need to turn on DLL Imports in your Metatrader platform options, because it calls a DLL to get your timezone, as well as another to read the ForexFactory web page to get news information. (Be aware it will write out .XML files to your expert/files folder).
The indicator has settings so you can filter out (or in) news announcements of High, Medium, or Low impact, as well as those with the word Speaks in them. You can have it display the minutes till (and info about) the next announcement, or the next two. And you can adjust the colours of the text.
You just apply it to your chart, set your desired options, and it will give you announcement info relating to either currency in the pair on the chart.
The indicator can also be called from within an EA using the iCustom call. By accessing buffer 1, index 0, you can get the minutes until the most recent past event (so minutes will be negative or zero), or by using buffer 1, index 1, minutes until the next news event (positive or zero). If you want to use this feature and need more info, I can post a more detailed sample.
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Looking for aForex Calendar? here you go, check out our real-time Forex Economic Calendar which is sometimes called forex news calendar as well.
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By taking signals in the direction of a strong trend you would REDUCE UNNECESSARY LOSSES and increase the odds of winning. You need to know how well the market is trending to avoid very short-term trends.
STOP hunting the market for every potential trade. Pick only the best trending pairs and time frames and DO NOT take any trading signals in the choppy market (unless you know exactly what you are doing).
Successful traders keep it simple and this is the way how the pros made fortunes in the markets – by trading less and making more.
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Which Forex pair and time frame is best to trade is the frequently asked question and I want do give you the DEFINITE ANSWER.
Are you expecting that I am going to say something like EUR/USD on 5-minute time frame or GBP/USD on daily…? No, it is not so simple, but SIMPLE ENOUGH we can figure it out!
The PROBLEM is that markets change over time. If GBP/USD was a well trending currency pair a few years ago, today it is another one.
I actually want to let you know about a SPECIAL TOOL that I use to find the BEST TRENDING PAIRS among all the Forex pairs.
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