News EA Description
This Metatrader News expert advisor can trade forex news using an one-cancels–others (OCO), approach and track the price of winning trades.
News (oco), main functions
Places a specified number of opposite pending order below (short) or above (long), the price, just prior to the news release.
You can delete the orders opposite as soon as the price reaches a pending order (oco is one cancels other).
Places stop-loss, take-profit, trail, break-even etc.
The News expert advisor is designed to trade news events using an OCO approach. OCO stands for one cancels another and refers to an EA's ability close a pending or more orders once the price triggers a opposite pending order. This is an important feature of news trading.
Traders who trade news often place two pending orders just before an important news event. This is the most profitable and well-known way to trade forex news: a buy-stop or a sell-stop.