News Scope EA PRO is an automated system that was created in February 2020 by developer Lachezar Krastev. News Scope EA PRO is based on a highly efficient and potentially profitable strategy for high-impact news trading.
Normally, when a relevant news event is broadcast, the price moves in one, or both directions and this creates an opportunity for scalping in the short term. If the extent of price movement is significant enough, the cold trader earns 20, or in some cases even more than 100 pips in a few seconds. Of course, nothing is perfect and liquidity problems at a time of such high volatility could lead to increased spread, delayed implementation, and slippage. In recent years, however, the conditions of brokers are continually improving and the spread of the most important news is better than ever. This creates an excellent opportunity for relevant news trading.
News Scope Features of EA PRO
- Semi-automated and fully automated modes.
- Precise time and news detection filters included.
- High propagation detection filter.
- Single or multiple cascade command modes.
- Go out for a final stop, or recoil detection.
- NFP and FOMC trading modes.
- Support for multiple currency pairs.
- The only option for longs and shorts.
- Customized time management function.
If you are a trader who likes news trading, News Scope EA PRO can be a good tool for you. The recommended time frame is M1. The recommended currency pairs are EURUSD, USDJPY, USDCAD, AUDUSD, and GBPUSD.
The developer has performed REAL TICK data optimizations and 99.90% real quality variable differential testing for various currency pairs. It has also used two independent Dukascopy and Alpari ECN Pro data sources.
The developer comments that it is important to use “News Scope EA PRO” only on well-known and reputable ECN brokers. If you repeatedly notice unusual spread increase, too high slide, or run delay, you should not use News Scope EA PRO on this broker.
Configuration News Scope EA PRO
- Fixed lots – fixed trading volume (works if Automm=0).
- Automm – values greater than 0 (zero) automatically activate ММ (volume traded as a percentage of free margin).
- General Configuration
- Slide – maximum slip allowed for the opening position.
- Max spread – maximum propagation allowed for the opening position.
- Magic number – It is extremely important to keep this different for all robots.
- Start trail – value in pips. When trading profit is equal to this value the EA set stops.
- Trail stop – value in pips. The final stop value.
- EA comment – text to be added as a comment to each trade opened by News Scope EA PRO.
In short, we are talking about an EA designed to run on the coincidence of high-impact economic news. This robot will detect sudden movements in the price to try to make the most of the upward or downward paths that are produced by the impact of the news.
A very important tool if you use this EA is to know very well the economic calendar and to take into account the news of each day that may have an impact on the different financial assets.
Certainly, this is an EA of very recent creation and at the moment there are no user ratings that have tested it. The best we could do, if you are traders who like to trade with the news is to download the trial version and check its performance with some high impact news, such as NFP, oil inventories, etc.
News Scope EA PRO is available on the MQL market at a price of 117 USD (its launch price was 147 USD, it is currently being promoted). There are no rental options available.