Introduction

The News Catcher Pro EA V4.38 is a specialized MetaTrader 4 Expert Advisor designed to trade around high-impact economic news events. Unlike conventional forex robots that rely on technical indicators, this EA employs a mean-reversion strategy to capitalize on volatility spikes preceding and following major economic announcements. The system operates on the fundamental principle that sharp news-driven price movements often overshoot fair value before correcting, creating profitable trading opportunities. The News Catcher Pro EA V4.38 is optimized for the EURUSD currency pair on the M15 timeframe and can also trade GBPUSD and EURGBP.

Key Features

Advanced news filter integration for precise event detection and backtesting capability
One-chart setup allowing trading of multiple currency pairs from a single EURUSD M15 chart
Automatic GMT detection with Daylight Saving Time adjustment
Volatility-based stop-loss and take-profit levels expressed as percentage of Average True Range
Comprehensive position management including trailing stops, breakeven functionality, and partial profit taking
Drawdown protection system that monitors floating loss and closes positions when thresholds are exceeded
Self-diagnostic system verifying connectivity, symbol availability, and VPS performance
Multiple lot-sizing methods including fixed lots, dynamic lots based on balance, and max risk per trade
FIFO compliance for regulatory compatibility
Position time stops limiting maximum holding period and closing positions before Friday trading ends

Recommended Settings

Timeframe: M15
Currency Pair: EURUSD (primary), with optional GBPUSD and EURGBP support
VPS Requirement: Continuous connectivity required for optimal performance
Broker Type: ECN brokers with tight spreads and fast execution
Lot Sizing: Choose between fixed lots, dynamic lots based on account balance, or max risk percentage per trade
News Filter Configuration: Set minutes before and after event parameters based on trading preference
GMT Detection: Enable automatic detection or manually configure offset
Trailing Stop: Configure activation threshold as desired
Friday Stop Hour: Set specific hour to close all positions and avoid weekend gap risk
Maximum Spread: Define acceptable spread limit for trade execution
Maximum Slippage: Set allowable slippage threshold

Advantages

Eliminates emotional decision-making during volatile news events
Provides precise timing around news releases that manual traders often miss
Adapts risk parameters automatically to changing market volatility
Offers multi-currency trading capability from a single chart setup
Includes robust drawdown protection for capital preservation
Features self-diagnostic system for operational reliability
Reduces time commitment through fully automated operation

Disadvantages

Performance depends on frequency and quality of economic news events
Requires continuous VPS connection representing additional cost
Not infallible and can incur losses like any trading system
Performance varies across brokers based on execution speed and spreads
Limited trading opportunities during periods with few high-impact news releases

Conclusion

The News Catcher Pro EA V4.38 offers a specialized solution for traders seeking to automate news-based trading strategies. Its mean-reversion approach, combined with advanced features like news filtering, adaptive risk management, and comprehensive position controls, provides a complete trading system for the MetaTrader 4 platform. While the EA requires realistic expectations and proper configuration, its focused strategy and robust risk management features make it a noteworthy option for traders who understand news event dynamics and are willing to operate the system on a reliable VPS. The News Catcher Pro EA V4.38 is best suited for traders who value systematic, research-backed trading approaches over high-frequency or aggressive strategies.

Support & Disclaimer

Support

If you need help installing or configuring your EA, or face any kind of bug, feel free to reach out on:

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Disclaimer:

Forex and gold trading involve risk. Past performance doesn’t guarantee future results. Always test robots on demo before live trading and use proper risk management.