News Catcher Pro EA MT4 v4.38 with SetFiles (Platform 1473+)

News Catcher Pro MT4 Settings Guide

News Catcher Pro MT4 is an advanced news trading Expert Advisor designed to capitalize on high-impact economic events with intelligent market filtering, machine learning pattern recognition, adaptive grid management, and comprehensive risk protection.

It supports multi-symbol trading, advanced news filters, stock market crash protection, and flexible money management, making it suitable for traders who want to automate event-driven Forex trading on MetaTrader 4.

News Catcher Pro MT4 Settings Explained

MM & Risk Settings

🔹 Check for Instances of the EA = true – Prevents multiple copies of the EA from running on the same account simultaneously.

🔹 Allow Opening a new Trade = true – Allows the EA to open new trading positions.

🔹 Lot-sizing Method = Fixed Lots – Uses fixed lot sizing instead of automatic balance-based calculation.

🔹 Fixed Lot = 0.01 – Sets every initial trade to 0.01 lots.

🔹 Dynamic Lot = 10000.0 – Reference balance of 10000.0 for dynamic lot sizing if enabled.

🔹 Max Risk per Trade = 5.0 – Limits the maximum risk to 5.0% per trade.

🔹 Maximum Lot = 200.0 – Restricts individual trade size to 200.0 lots.

🔹 Max Open Lots = 200.0 – Maximum combined open lot exposure is 200.0 lots.

🔹 Maximum Spread, in pips = 5.0 – Prevents new trades when spread exceeds 5.0 pips.

🔹 Maximum Slippage for a non-ECN account, in pips = 5.0 – Accepts a maximum execution slippage of 5.0 pips.

🔹 Portfolio Mode = false – Portfolio trading mode is disabled.

🔹 Initial Delay for Portfolio Mode, ms = 4000 – Portfolio mode starts after 4000 milliseconds when enabled.

🔹 Consider WAKA Orders (Portfolio only) = false – WAKA orders are excluded from portfolio calculations.

🔹 Consider PAI Orders (Portfolio only) = false – PAI orders are excluded from portfolio mode.

🔹 Consider GP Orders (Portfolio only) = false – GP orders are excluded from portfolio management.

🔹 Allow Additional Trades = false – Only the primary trade is allowed.

🔹 Maximum Symbols at a time = 3 – Trades a maximum of 3 symbols simultaneously.

🔹 Maximum Net Number of Currencies [0-disabled] = 2 – Limits exposure to 2 net currencies.

🔹 Only One Symbol if Grid reaches this Level [0-disabled] = 0 – No grid-based symbol restriction is applied.

🔹 Allow to Buy/Sell = Buy and Sell – Enables both Buy and Sell positions.

🔹 Allow Hedging = false – Hedging is disabled.

🔹 Minimum Free Margin % [0-disabled] = 0.0 – No minimum free margin restriction.

🔹 Max Floating Drawdown % = 100.0 – Floating drawdown protection threshold is 100.0%.

🔹 Max Floating Drawdown % for each Symbol = 100.0,100.0,100.0 – Applies 100.0% floating drawdown protection per symbol.

🔹 Max Floating Drawdown in Money [0-disabled] = 0.0 – Monetary floating drawdown protection is disabled.

🔹 Max Daily Drawdown Limit % FTMO Rules = 100.0 – Daily FTMO drawdown percentage is 100.0%.

🔹 Max Daily Drawdown Limit in Money FTMO Rules [0-disabled] = 0.0 – Monetary FTMO drawdown protection is disabled.

🔹 Max Daily Drawdown Reset Hour FTMO Rules (Broker time) = 0 – Daily drawdown resets at broker hour 00:00.

🔹 Max Daily Drawdown Type FTMO = Equity – Uses Equity for drawdown calculations.

🔹 Max Drawdown Action = Close trades & stop trading for 24h – Closes all trades and pauses trading for 24 hours after exceeding drawdown.

🔹 Do Nothing if During Rollover = false – Risk protection remains active during rollover.

🔹 Max Drawdown Calculation = This strategy – Drawdown applies only to this EA.

🔹 Handle Max Drawdown Events on Every Tick = false – Drawdown is not recalculated on every market tick.

Time Settings

🔹 Time Filter Set = Strong Filtration – Uses the strongest predefined trading session filter.

🔹 Trade on Monday = true – Enables Monday trading.

🔹 Trade on Tuesday = true – Enables Tuesday trading.

🔹 Trade on Wednesday = true – Enables Wednesday trading.

🔹 Trade on Thursday = true – Enables Thursday trading.

🔹 Trade on Friday = true – Enables Friday trading.

🔹 New Year Holiday Filter = true – Prevents trading during the New Year holiday period.

🔹 Rollover Start Hour = 23 – Rollover protection begins at 23:00.

🔹 Rollover Start Minutes = 45 – Rollover starts at 23:45.

🔹 Rollover End Hour = 0 – Rollover ends at 00:00.

🔹 Rollover End Minutes = 15 – Rollover ends at 00:15.

🔹 Send Orders During Rollover = true – Allows orders during rollover.

🔹 Remove TakeProfit During Rollover = false – Keeps Take Profit active.

🔹 Remove StopLoss During Rollover = false – Keeps Stop Loss active.

Forecast Settings

🔹 Use ChatGPT Forecast = false – AI forecasting with ChatGPT is disabled.

🔹 Use Gemini Forecast = false – Gemini forecasting is disabled.

Grid Settings

🔹 Enable Grid (optional) = false – Grid trading is disabled.

🔹 Weighted TakeProfit = true – Uses weighted Take Profit calculations.

🔹 Trade Distance = 75 – Grid spacing is 75 points.

🔹 Pause Between Grid Trades, in min [0-disabled] = 0 – No delay between grid orders.

🔹 Smart Distance = true – Uses adaptive spacing between trades.

🔹 2nd Trade Multiplier = 2.0 – Second position doubles the lot size.

🔹 3rd–5th Trade Multiplier = 2.0 – Third through fifth trades use a 2.0x multiplier.

🔹 6th+ Trade Multiplier = 1.5 – Sixth and later trades use a 1.5x multiplier.

🔹 Maximum Trades = 4 – Limits the grid to 4 positions.

🔹 Custom Multipliers = (empty) – Default multipliers are used.

🔹 Calculate Levels from Initial Trade = true – Grid levels are calculated from the first order.

🔹 Disable SL if Grid is Enabled = true – Disables Stop Loss when grid mode is active.

🔹 Force Basket Closure once the Initial Order is Closed = false – Basket remains active after the initial trade closes.

🔹 Send Push Notifications after this Level [0-disabled] = 0 – Push notifications are disabled.

Additional Settings

🔹 Trade Comment = News Catcher – Custom trade comment attached to every order.

🔹 UID (0…9) = 0 – User ID is set to 0.

🔹 Basic Magic Number = 36937 – Uses 36937 as the EA Magic Number.

🔹 Show Panel = true – Displays the on-chart information panel.

🔹 Show Stats = true – Displays trading statistics.

🔹 Font Size (1…8) = 6 – Dashboard font size is 6.

Backtest Settings

🔹 Disable Automatic GMT Detection = false – GMT detection remains automatic.

🔹 GMT Test/Manual = 2 – Manual GMT offset is 2.

🔹 DST Test/Manual = US – Uses the US daylight saving profile.

Strategy Settings

🔹 Symbols separated by comma = EURUSD, GBPUSD, EURGBP – Trades EURUSD, GBPUSD, and EURGBP.

🔹 Symbol Suffix = (empty) – No broker-specific suffix is used.

🔹 ML-based Pattern Recognition & Filtering = true – Enables machine learning pattern recognition.

🔹 ML-based Pattern Filter Threshold = 90.0 – Requires a minimum confidence score of 90.0.

🔹 PCh Period = 50 – Price Channel period is 50.

🔹 PCh Offset = 0.0 – Price Channel offset is 0.0.

🔹 ATR Period = 5 – ATR uses a 5-period calculation.

🔹 Swap Filter = false – Swap filtering is disabled.

🔹 Max Negative Swap, in points = 0.0 – No swap restriction is applied.

🔹 Apply Swap Filter To = All days – Swap filter applies to all trading days if enabled.

TP & SL Settings

🔹 TakeProfit, %ATR = 25.0 – Dynamic Take Profit equals 25.0% of ATR.

🔹 TakeProfit, in pips (fixed) = 0.0 – Fixed Take Profit is disabled.

🔹 StopLoss, %ATR = 400.0 – Dynamic Stop Loss equals 400.0% of ATR.

🔹 StopLoss, in pips (fixed) = 0.0 – Fixed Stop Loss is disabled.

🔹 Hide StopLoss = false – Stop Loss remains visible.

🔹 Position Time Stop, in bars [0-disabled] = 4000 – Positions may close after 4000 bars.

🔹 Hour to Stop Trading on Friday [0-disabled] = 0 – Friday stop hour is disabled.

🔹 Randomize TP/SL Levels = false – TP and SL remain fixed.

🔹 Do not adjust SL/TP after X bars [0-disabled] = 0 – Dynamic adjustment remains enabled.

🔹 Max Random Delay before sending Orders, sec [0-disabled] = 0.0 – No execution delay.

🔹 Allow sending SL along with an order (for a non-ECN account) = false – Stop Loss is sent after order execution.

🔹 Close in Profit/Loss if Open for X Minutes = false – Time-based closing by minutes is disabled.

🔹 Close in Profit/Loss if Open for X Bars = true – Time-based closing by bars is enabled.

🔹 Min/Max Profit/Loss to Close, in pips A = 15.0 – First closing condition uses 15.0 pips.

🔹 Minutes Since Trade Opened A = 1440 – First timer equals 1440 minutes.

🔹 Bars Since Trade Opened A = 288 – First bar timer equals 288 bars.

🔹 Min/Max Profit/Loss to Close, in pips B = 5.0 – Second closing condition uses 5.0 pips.

🔹 Minutes Since Trade Opened B = 2880 – Second timer equals 2880 minutes.

🔹 Bars Since Trade Opened B = 576 – Second bar timer equals 576 bars.

🔹 Enable TrailStop & BreakEven = false – Trailing Stop and Break Even are disabled.

🔹 Trailing StopLoss, in pips = 5.0 – Trailing distance is 5.0 pips.

🔹 Trailing StopLoss Start, in pips = 25.0 – Trailing activates after 25.0 pips.

🔹 BreakEven, in pips = 0.0 – Break Even is disabled.

News Filter Settings

🔹 News Filter Enabled = true – Enables the advanced economic news filter.

🔹 Minutes Before Event = 90 – Stops opening trades 90 minutes before news.

🔹 Minutes After Event = 10 – Resumes trading 10 minutes after news.

🔹 Speaks = true – Enables voice notifications.

🔹 Show News List = true – Displays the economic calendar.

🔹 News List Refresh Rate = Every 3 hours – Updates news every 3 hours.

🔹 Don’t Enter a Trade at the Moment of News Release = false – Allows trading exactly at release time if other conditions permit.

Stock Market Crash Filter

🔹 Stock Market Crash Filter Enabled = false – Crash filter is disabled.

🔹 Stock Market Symbol = US500, SPX500 – Monitors US500 and SPX500.

🔹 Filter Period = 12 – Uses a 12-period crash filter.

🔹 Max Historical Volatility (HV), in % = 30.0 – Crash detection threshold is 30.0%.

🔹 Block Trading for the Entire Day = true – Stops trading for the entire day if a crash event is detected.

Risk Level

🔹 Fix Lot – Uses a constant lot size regardless of account balance for predictable risk.

🔹 Safe – Focuses on preserving capital with conservative position sizing and lower exposure.

🔹 Balanced – Provides a compromise between growth potential and drawdown control for everyday trading.

🔹 Aggressive – Increases position size and overall exposure to maximize profit potential while accepting higher drawdown risk.

Conclusion

News Catcher Pro MT4 is a highly configurable automated news trading Expert Advisor featuring machine learning pattern recognition, advanced economic news filtering, dynamic ATR-based risk management, intelligent grid controls and comprehensive portfolio protection.

With flexible money management, multiple symbol support, and robust risk controls, it offers traders a powerful solution for automating event-driven Forex trading while maintaining strict control over exposure and execution quality.

FAQs

❓ What is News Catcher Pro MT4 designed for?

It is an automated MT4 Expert Advisor built specifically for trading around high-impact economic news events.

❓ Does News Catcher Pro MT4 support machine learning?

Yes. It includes ML-based pattern recognition and filtering with an adjustable confidence threshold.

❓ Can I trade multiple currency pairs simultaneously?

Yes. The EA supports multi-symbol trading and allows you to define your own list of trading instruments.

❓ Does the EA include advanced risk management?

Yes. It offers floating drawdown protection, ATR-based Stop Loss and Take Profit, spread filtering, position limits, and configurable money management.

❓ Can I customize the news filter and trading schedule?

Yes. You can configure the news filter timing, trading sessions, holiday filters, stock market crash protection, and numerous execution parameters to suit your preferred trading strategy.