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Straddle Forex News Trading EA Review

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Straddle EA can be found within the MQL5 marketplace, it was created by Hitesh Arora and was uploaded to the marketplace on the 2nd of April 2020, it was uploaded as version 2.1 and has not received any further updates.

Overview

Straddle EA (as the name suggests) is a Forex expert advisor. This EA was designed to be used within the MetaTrader 4 platform. The EA works by looking at and then trading major fundamental news events. It will open 2 pending orders, Buy Stops and Sell Stops in order to capture the markets’ single direction movements at the time of the news.

The EA has three states:

  1. Waiting: The period before market news has been released.
  2. Passed: The EA started and a trade has been executed.
  3. Expired: The EA has expired (after the expiration time is past).

Once added to a chart, the EA will show the following:

  1. The type of trade 
  2. Trade settings (Lot, Gap, TP & SL)
  3. Trailing Setting
  4. Trade activation and expiration time
  5. Current status of the EA (Waiting, Expired, and Passed)

There are also a number of different parameters available, these include the trade type to use, lot sizes, buy gap, the sell gap, take profits, stop losses, comments, magic numbers, trailing stop settings, time settings, and more.

Service Cost

There is not an option to purchase this EA outright and so we are only able to rent it, this can be done on a monthly basis and will cost you $49 per month. There is a free demo version available, but this can only be used with the strategy tester within the MT4 trading platform.

Conclusion

As the EA was only recently uploaded to the marketplace, there are currently no reviews or ratings about the EA, this makes it hard for us to know whether people are finding it profitable and whether it does what it is intended to do. There are also no comments so we would suggest contacting the developer with any questions that you may have, this way you can be sure that the EA will function how you need it to and that the developer will be around to offer support should you need it.

 

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