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Fundamental Trader DailyFX CSV MQL4

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Fundamental Trader DailyFX CSV MQL4


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  • Author
  • Uploaded 02-03-2013, 02:46 AM
  • Last Updated 15-10-2015, 09:58 AM
  • Category Expert Advisors
  • Total Downloads 2014


Files

  • Fundamental Trader DailyFX_MQL4 v0.04.mq4 24.0 KB
  • str2double.zip 53.2 KB



Description:

The idea was to develop an Expert Advisor which makes financial trading decisions on news events, automatically. Fundamental Trader EA cannot be back-tested on historical data, it can only be forward-tested, because it is setup to wait for the next news event, and make a financial trading decision based on the difference between (actual vs. forecast) or (actual vs. previous) data.

Fundamental Trader EA is very simple, after downloading the calendar, it determines which news event on the DailyFX calendar is scheduled to be next, then it waits for that news event to be released, once the data is released, the EA makes an investor trading decision. Fundamental Trader EA can be applied to any-chart and any-time frame, as it only uses the chart for executing orders.
Fundamental Trader EA is setup to support every Country that is on the DailyFX calendar, see below for details.


NOTE:
This EA is built on code from an indicator which is specified in the link above. You MUST first, follow instruction in the link above, and setup the following files:
getright_setup.zip
Time.mq4
Time.mqh
Make sure you change the default "get right" download directory to where the calendar will be downloaded, else this EA will not work.
Make sure you read that article very slowly, and make sure to follow every instruction.
You can read all about what those (3) files are, and what their function is. That article does a very good job, at explaining what the indicator is executing, to display the news events in the chart window.
It is a good idea, to first, setup that indicator and have the news displayed on your chart, after which this EA will work without any problems.
That indicator source code was modified to become an EA, to trade the news and not just display them.
When you setup the files listed above, from the link listed above, you can download this EA along with "str2double.dll" and this EA will trade the news released on DAILYFX. The "str2double.dll" file goes in the root directory, e.g. C:\Program Files\Interbank FX Trader 4\

Trading Logic:

The logic behind the trade is as follows: there are two types of events that occur when trading news.
1st: there is actual economic data which is compared to the forecast economic data.
2nd: there is actual economic data which is compared to the previous economic data.
The difference between economic data, can affect the direction of the currency price, and the percent difference between the economic data, gives a higher probability that the news event will have a market reaction in a specific direction.
When there is a high percentage difference between economic data, the EA executes orders with larger lots.
When the percentage difference between economic data is small, the EA executes orders with minimal lots.
These lot sizes are specified, when the EA is applied to the chart with the following variables:
lot1, lot2, lot3, lot4, lot5, lot6......lot18
The specific lot size will be chosen by the EA, based on the percent difference between economic data.

Risk/Reward Ratio:

Fundamental Trader EA is setup with 1:3, risk/reward ratio, the default values are risk=20, reward=3.
Risk is the PIP StopLoss values, and reward is the multiplier, so that if the EA is risking 20 PIP, it is expecting to gain 60 PIP.
These values can be modified, when applying the EA to the chart.


Wait Time for the News Event to be Released:

News data is not released at exact time when it is scheduled, it is necessary to setup a time frame for the EA to wait for the news events to be released.
The following code snippet determines the time that the EA will wait for the news to be released, when the news wait time has passed, the EA moves on to the next news event.
xTime is a variable, which can be changed, when you first apply the EA to a chart. The default value is 27 minutes.

if(Date>(TimeCurrent()-(xTime*60)))


Wait Time for the Orders to be Closed:

You can also setup a time frame for the EA to wait a certain amount of time before closing an opened order.
e.g. After a news event has been released, and a position was executed, wait 30 minutes to close the current order, with profit or loss. This is recommendation by MQL4 user "ebenv".
There are (3) variables that control this function:
MagicNumber | number which is used to track opened orders
enable_close_time | set to true to enable the EA to monitor the time that has passed since the order was executed
wait_time | time to wait before closing the order


Fundamental Trader Country Support:

Fundamental Trader EA trades every single currency that is supported on dailyfx.com/calendar.

Below is the code snippet which specifies the currency to trade based on the Country where the news event is released. The currency list is the following: EUR, USD, JPY, GBP, CHF, AUD, CAD, NZD

if(stCurrency=="EUR" ){ordercurrency="EURUSD";} //trading eurusd
if(stCurrency=="USD" ){ordercurrency="EURUSD";} //trading eurusd
if(stCurrency=="JPY" ){ordercurrency="USDJPY";} //trading usdjpy
if(stCurrency=="GBP" ){ordercurrency="GBPUSD";} //trading usdgbp
if(stCurrency=="CHF" ){ordercurrency="USDCHF";} //trading usdchf
if(stCurrency=="AUD" ){ordercurrency="AUDUSD";} //trading audusd
if(stCurrency=="CAD" ){ordercurrency="USDCAD";} //trading usdcad
if(stCurrency=="NZD" ){ordercurrency="NZDUSD";} //trading nzdusd


Trading Decision:

The following code snippet describes how the EA makes a trading decision, when the EA is waiting for actual economic data, when the forecast economic data is available.

When the forecast data is not available the EA uses the previous data to make a trade.

The following code snippet explains how the trade is executed based on forecast data and actual data. The same algorithm is used when the EA makes a trading decision based on previous and actual economic data.

if(StringToDouble(stActual)>StringToDouble(stForec ast))
{
Aert("Stronger(actual vs forecast): "+stCurrency+" "+"Time: "+stTime);

int total=OrdersTotal();
for(int cnt=0;cnt<total;cnt++)
{
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES); //check opened orders
if(OrderComment()==stCurrency+stActual+stForecast+ "BUY"||
OrderComment()==stCurrency+stActual+stForecast+"SE LL")
{
FileClose(file);Comment("\n"+"Live Trade Open"+OrderTicket());return(0);
}
}

int historytotal=OrdersHistoryTotal();
for(cnt=0;cnt<historytotal;cnt++)
{
OrderSelect(cnt, SELECT_BY_POS, MODE_HISTORY); //check opened orders
if(OrderComment()==stCurrency+stActual+stForecast+ "BUY"||
OrderComment()==stCurrency+stActual+stForecast+"SE LL"){
FileClose(file);Comment("\n"+"Trade Executed"+OrderTicket());return(0);
}
}
if(stCurrency=="EUR"||stCurrency=="GBP"||stCurrenc y=="AUD")
{
double ask=MarketInfo(ordercurrency,MODE_ASK);
double point1=MarketInfo(ordercurrency,MODE_POINT);
OrderSend(ordercurrency,OP_BUY,lot_p,ask,3,ask-(risk*point1),
ask+reward*risk*point1),stCurrency+stActual+stFore cast+"BUY");}

if(stCurrency=="CHF"||stCurrency=="CAD"||
stCurrency=="NZD"||stCurrency=="JPY"||stCurrency== "USD")
{
double bid=MarketInfo(ordercurrency,MODE_BID);
double point2=MarketInfo(ordercurrency,MODE_POINT);
OrderSend(ordercurrency,OP_SELL,lot_p,bid,3,bid+ri sk*point2),
bid-(reward*risk*point2),stCurrency+stActual+stForecas t+"SELL");}

1st: the EA can only execute one order per news event, so it first checks to see if an order was executed, if the order is currently open, the EA exits.

2nd: the EA determines if this order was already executed and closed, if the order has been executed and closed with profit or loss, the EA exits.

The (2) checks for orders, makes sure that there is not a duplication of orders, which allows the EA to only make a single trade per news event.

Next, it determines which Country the data is being released for, and opens a trade with the specifications in the ordersend function when the economic data is released.

The above code is for: when actual data is greater than forecast data, the code is the same when the actual data is less than the forecast data, the only difference is the direction of the trade.

The same algorithm is applied to when the previous data is compared to actual data when the forecast data is not present.


Lot Sizing:

The EA compares (actual data to forecast data), or (actual data to previous data), the percent difference between the news data determines lot amount that the EA will trade.

The following code snippet is how the EA determines the percent difference, and specifies the lot size, the lot size is an external number which can be modified, to support any EA broker.

The user can modify the lots when applying the EA to the chart. The default lot size values are (0.01, 0.02, 0.03...0.17).

double percent_d_AF=MathAbs((MathAbs(StringToDouble(stAct ual)-
StringToDouble(stForecast))/StringToDouble(stForecast))*100);
double lot_p=0;
if((percent_d_AF>0 && percent_d_AF<=3)){lot_p=lot1;}//0.1 lot
if((percent_d_AF>3 && percent_d_AF<=6)){lot_p=lot2;}//0.2 lots
if((percent_d_AF>6 && percent_d_AF<=9)){lot_p=lot3;}//0.3 lots
if((percent_d_AF>9 && percent_d_AF<=12)){lot_p=lot4;}//0.4 lots
if((percent_d_AF>12 && percent_d_AF<=15)){lot_p=lot5;}//0.5 lots
if((percent_d_AF>15 && percent_d_AF<=18)){lot_p=lot6;}//0.6 lots
if((percent_d_AF>18 && percent_d_AF<=21)){lot_p=lot7;}//0.7 lots
if((percent_d_AF>21 && percent_d_AF<=24)){lot_p=lot8;}//0.8 lots
if((percent_d_AF>24 && percent_d_AF<=27)){lot_p=lot9;}//0.9 lots
if((percent_d_AF>27 && percent_d_AF<=30)){lot_p=lot10;}//1 lots
if((percent_d_AF>30 && percent_d_AF<=40)){lot_p=lot11;}//2 lots
if((percent_d_AF>40 && percent_d_AF<=50)){lot_p=lot12;}//3 lots
if((percent_d_AF>50 && percent_d_AF<=60)){lot_p=lot13;}//4 lots
if((percent_d_AF>60 && percent_d_AF<=70)){lot_p=lot14;}//5 lots
if((percent_d_AF>70 && percent_d_AF<=80)){lot_p=lot15;}//6 lots
if((percent_d_AF>80 && percent_d_AF<=90)){lot_p=lot16;}//7 lots
if((percent_d_AF>90 && percent_d_AF<=100)){lot_p=lot17;}//8 lots
if((percent_d_AF>100)) {lot_p=lot18;}//8 lots
  1. Chojin23x
    Has someone managed to find the files mentioned in the description, i.e. getright_setup.zip, Time.mq4, and Time.mqh?

    -----------------------------------------------------------------------------------

    Ok, I found the files, and now I've started testing it. I've already found out that it doesn't really work as it is, and I've started changing it ... just wanted you to know, in case you thought, it could be used as is.
  2. marakano
    Anyone had any results to share with this one please? Real live money results preferable please!
  3. fluddyanymn
    This is a very nice EA..Thanks for Sharing!
  4. fluddyanymn
    I THINK IT'S GOOD EA. WILL TRY IT
  5. Miey Jiey
    have a try
  6. maurog1111
    getright_setup.zip, Time.mq4, Time.mqh?

    Where are these files?

    are these exists? ...or it is something like...fake thread/advisor. Please delete this thread or do it complete.

    Thanks.
  7. maxmg
    Hello

    Very interesting this EA
    Please mention any links above, but I do not know which one.
    Where can I find these files: getright_setup.zip Time.mq4 Time.mqh?

    thanksHello

    Very interesting this EA
    Please mention any links above, but I do not know which one.
    Where can I find these files: getright_setup.zip Time.mq4 Time.mqh?

    thanks

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