Indicator Display and alert news on the MetaTrader4 chart by FXSSI.Calendar indicator ex4 MT4

[farsitools]

The news indicator displays on the MT4 chart the date and time of the upcoming macroeconomic statistics release affecting the Forex market. It also indicates the country of the publication (currency) and its degree of impact (importance).

The indicator data sources are news calendars by ForexFactory and Investing .com

News are displayed as vertical lines on the chart. Currency and importance (1 to 3 stars) of the release are displayed next to each line.

The indicator supports any financial instruments. All you need is to specify the currencies you want to track.

The given news analysis indicator is best suited for those traders who are not that much interested in the news itself but need a reminder of possible volatility increase.

1. As we expected, increased volatility occurs immediately after the news release. However, we don’t know whether the movement will continue, or it’s a false maneuver.
2. We observe that the price has pulled back and reached half of the news impulse. This is exactly the time to determine where the price is going to move further.
3. If the price approaches the point (3), it means that the news impulse was false, and more likely, we’ll see the movement in its opposite direction (as the red line shows).
4. If the price approaches the high made during the impulse again, it indicates that the impulse was true, and you can consider opening trade in its direction.
5. In this example, the trade was opened an hour and a half after the news release when the volatility has already decreased, traders have added
6. to the positions as needed, and the price can safely move in the right direction.

very good for news trading