We have many Economic News Chart Event tools for the cTrader trading platform, but this version allows you to download the full source code to use in your automated trading systems. This version will show the future news events for both low, medium and high-impact events, in the picture below you can see historical news events that have already happened, the red line is a high-impact event and the blue lines are medium.
What are High, Medium & Low Impact News Events?
A high impact news event is one where a news release is about to happen for a specific currency symbol or instrument, the following are very important high-impact news events.
- Central Bank Meetings.
- Consumer Price Index (CPI).
- Gross Domestic Product (GDP).
- Unplanned Forex News.
When a high impact news event happens you will see wild swings or movement of the symbols price, these are so volatile that it takes out many traders stop-losses and for those who do not use a stop loss, it can cause considerable financial loss. Having the ability to visually see upcoming news events on the charts helps with closing your trades or adding additional risk management before the event. Usually, low-impact news events see little movement in the price as a symbol and medium can see some small movements, we advise that you always manage high-impact events.
When you attach the indicator to a chart you will see the indicator settings which allow you to configure it.
- Data URI- this is the path to a service that returns the news data, do not modify it.
- Only Symbol Events - Only show the news events for the current chart symbol.
High, Medium, Low Impact
These settings are for news event lines on the charts.
- Show - show or high the news lines.
- Color - type the name of the color you wish to use.
- Style - choose from various line styles.
- Thickness - select the thickness of the line.
* We are unsure of the Others options and which news events they show, please contact Spotware regarding this.
When this option is selected it will provide a popup text block telling you about the news event when you hover your mouse over the news event line.
How To Install & Open
First, make sure you have the cTrader trading platform installed and then simply unzip the file and double-click on it to automatically install it onto the platform.
Watch a Video Demonstration
The video has been uploaded to 1080p High Quality, so do not forget to set your U-Tube video quality to 1080p HD.
Duration: 6 minutes - Watch full screen on YouTube
Custom Development Work Available
As this indicator is open source you can request custom development work to modify and improve it, you get to keep the full source code after, just get in touch with us below.
Our News Event Trading Software
You may be interested in the trading tools that we have built for news events, you can find them below.