Published on Mon Nov 30th, 2015

As FxAutomater; the developers of Forex Diamond EA, have received numerous requests from their customers over the last few months, they have finally added a News Filter to their decent EA. This will be favored by trades who prefer to avoid trading during high-impact news events, this was included in a new version 5.0 of the EA with other interesting new features.

Visual Risk Level Indication

This is to make it easier to define the risk level to be used in trading, so:

  • Low Risk is considered if the risk of trading is lower than 1% – BLUE.
  • Moderate Risk is considered if the risk of trading is between 1% and 3% – ORANGE.
  • High Risk is considered if the risk of trading is higher than 3% – RED.

Setting The Risk Level Default for All Signals to Auto MM 0.5% Per Trade

This aims to protect Forex Diamond EA customers from taking too high risk mistakenly. If higher risk is desired, the risk level can be changed anytime.

News Filter Settings

  • The news filter is disabled by default, to be enabled, AvoidNews parameter is to be set to true.
  • GMT_Offset is one of the most important News Filter parameters, the winter GMT offset of the broker should always be used for this parameter.
  • DST_usage is the next parameter in importance as in case that the broker provides two different GMT offsets, one for winter and another for summer, DST_usage should be set to true, while if the broker uses only one GMT offset for all seasons, DST_usage should be set to false.
  • Other Parameters:
    • Include_Medium_News: true / false; if set to true, medium-impact news will be avoided.
    • Wait_Before_News: it's a time period in minutes during which trading will be disabled before a news event.
    • Wait_After_News: it's a time period in minutes during which trading will be resumed after a news event.

    New Image Logo and Colors

    These features will not directly affect the trading results of Forex Diamond EA, but they will improve the EA user interface and make it more easier for beginners and more interesting and useful for experienced traders.

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    Talk about Forex Diamond

    Information, charts or examples contained in this review article are for illustration and educational purposes only. It should not be considered as an advice or endorsement to purchase or sell any security or financial instrument. We do not and cannot give any kind of financial advice. No employee or persons associated with us are registered or authorized to give financial advice. We do not trade on anyone's behalf, and we do not recommend any broker. On certain occasions, we have a material link to the product or service mentioned in the article. This may be in the form of compensation or remuneration.