This feature simply closes any open positions in a set number of minutes just before a news event is about to happen, please note it will not close all positions, instead it will only close positions where the currency pair relates to the news event.
A news event is about to happen for the Euro (EUR), with this feature activated any currency pair (positions) that are open that contain EUR will close, so EURUSD & EURGBP.
The settings above are mostly self-explanatory, you set the number of minutes before the event is about to happen and if you want to capture high, medium or low impact news events. To activate the feature you click on the toggle button and set it to yes.
News Event Log
It is possible to also look at the history of events for the application in the news event long tab, the image below shows an example of the trade manager feature closing all open positions for EURUSD 6-minutes before the event at 17:00 hours.