News Alerts

Time reading this page: 5 minutes
Time installing the indicator: Just a few minutes with our MetaTrader Pro setup

What does it do?

The Analytic Trading News Indicator for MetaTrader overlays up-coming and recent news events relevant to the instrument chart it is added to, with the optional display of all USD news events.

It will display screen alerts and send email alerts at specified times before events, and shows the typical impact of the event, previous and forecast figures – all taken from the data feed provided at forexfactory.com/calendar.php.

Credit for the original version of this indicator goes to DerkWehler and his excellent thread on Forex Factory where you can download his version for free. Our version is simply contains our added display and pip calculation functionality to work better for our needs.

What is it for?

Although we are technical traders, it is the news events that create the volatility we are looking for to find the best trade setups. It is also important to monitor news events when there is an open trade on the relevant instrument.

How do we use it?

By default, we have the news indicator displayed on our S&P 500 chart in the top-left window of all forex, commodity and index profile layouts, to monitor market risk-sentiment and events likely to cause significant price movements.

Then, when we have a trade open on an instrument, we will make sure we have one chart with the news indicator displayed so that we can monitor the price-action that evolves around risk events, to help manage our trades.

Make sure you bookmark and regularly review the News Calendar at ForexFactory.com and ForexPeaceArmy.com

News Alert specific settings

In most cases these settings can be left on the default values, although users with different strategies or preferences to our own may want to be able to adjust them.

Variable	Default Value	Possible Values	Description
IncludeHigh	true/false	true	The switch to show High volatility news events on the current forex instrument chart.
IncludeMedium	true/false	true	The switch to show Medium volatility news events on the current forex instrument chart.
IncludeLow	true/false	false	The switch to show Low volatility news events on the current forex instrument chart.
IncludeSpeaks	true/false	true	The switch to show events where notable market influencers speak.
IsEA_Call	false/true	false	The News indicator has the ability to trigger EA trades for developers.
OffsetHours	0	-12 to 12	The GMT/BST Offset for your local timezone.
AllowWebUpdates	true/false	true	Set this to false when another indicator instance is already running on that same symbol and same period.
Alert1MinsBefore	-1	integer	The number of minutes before an event to show the first screen alert.
Alert2MinsBefore	-1	integer	The number of minutes before an event to show the second screen alert.
Email1MinsBefore	-1	integer	The number of minutes before an event to send the first email alert.
Email2MinsBefore	-1	integer	The number of minutes before an event to send the second email alert.
ReportAllForUSD	true	true/false	The switch to show all USD news events regardless of the instrument chart used.
EnableLogging	false	true/false	Debugging logs.
ShowNextTwoEvents	true	true/false	The switch to show the on-chart text information for the latest 2 relevant events.
ShowVertNews	false	true/false	The switch to show lines on the actual chart bars for news events.
TxtSizeTitle	7	integer	The title text size.
TxtSize	7	integer	The details text size.
TxtColorTitle	Gray	any colour name or RGB value	The indicator title text colour.
TxtColorNews	DeepSkyBlue	any colour name or RGB value	The news event name colour.
TxtColorImpact	Red	any colour name or RGB value	The impact text colour.
TxtColorPrevious	Peru	any colour name or RGB value	The previous text colour.
TxtColorForecast	Lime	any colour name or RGB value	The forecast text colour.
VertTxtShift	21	integer	The distance of the bar lines text from the bar
VertLeftLineShift	900	integers	How far away to the left of the line we want to place our vertical news text.
VertRightLineShift	200	integers	How far away to the left of the line we want to place our vertical news text.
VertLineColor	SlateBlue	any colour name or RGB value	The bar lines colour.
VertTxtColor	DimGray	any colour name or RGB value	The bar lines text colour.
VertTxtSize	7	integers	The vertical text size.
NewsCorner	2	integers	The corner to display the next 2 events text display. 0=Upper Left, 1=Upper Right, 2=Lower Left , 3=Lower Right
NewsXPos	3	integers	The distance from the chosen corner.
SaveXmlFiles	true	true/false	The ability to generate daily Xml files of news events. These can be used with EAs capable of using them for filtering news events in backtesting.

Pip Calculation Settings

Display Settings

Variable	Default Value	Possible Values	Description
TradeDPCalcType	auto	auto/semi-auto/manual	For most brokers the indicator can automatically calculate the value of a pip using “auto”. However, if pips are incorrectly displayed for a broker or instrument you can try “semi-auto” and set the instrument type for the current chart, or you can set to “manual” and specify in a number to how may decimal points the value of a pip is.
TradeDP	4	whole numbers	If you need to use TradeDPCalcType=manual then here you need to specify the number of decimal places that 1 pip is at. So for a EURUSD price displayed as 0.12345 or 0.1234 the value would be 4, for USDJPY prices displayed as 00.123 or 00.12 the value would be 2.
ShowExtraInfo	false	true/false	Setting this value to true will show the pip calculation mode in brackets at the end of the displayed text on the chart to help with diagnosing pip calculation.

Variable	Default Value	Possible Values	Description
display_font_colour	white	any colour name or RGB value	The colour of the text comments information displayed on the chart.
display_font_size	7	any whole number	Values 6 to 12 are probably most appropriate. The default of 7 is designed to match the default instrument text information displayed in the top left corner of all MetaTrader charts.
display_corner	0	0/1/2/3	0=TopLeft, 1=TopRight, 2=BottomLeft, 3=BottomRight.
display_distance_x	3	any whole number	The horizontal distance in pixels to display the comment text from the selected corner.
display_distance_y	25	any whole number	The vertical distance in pixels to display the comment text from the selected corner.
bgBoxColour	Black	any colour name or RGB value	The colour of the background block used to make the comment text more readable over the price bars/candles/lines behind them.
bgBox_width_perc	32	whole numbers from 20-100	This is the multiplier used to approximate the text width for the background coloured block to match it and keep the text readable but not cover up too much of the price bars/candles/lines behind it.

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License Abstract:	You can read our original content in the context published at analytictrading.co.uk. We do not otherwise permit any copying or use without written agreement from Analytic Trading. You may, of course post links, and direct people to view the content directly at analytictrading.co.uk.

Pip calculation settings used on all indicators

Display settings used on all indicators

What does it do?

What is it for?

How do we use it?

News Alert specific settings

Pip calculation settings used on all indicators

Display settings used on all indicators

MetaTrader Pro Setup

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