I tried installing 【EATradeStop】 that stops the EA using high-impact indicator releases and the VIX (Fear) index

There is an impression that FX traders who stop their EA (automatic trading software) mainly when high-priority economic indicators are released or when the VIX (fear) index rises have increased more than before.

Probably, since around July, price movements across currency pairs have often become rapid and extreme, and the number of EAs that cannot keep up has increased; as a result, it is believed that stopping at such moments can help avoid large losses (and in fact, this would likely improve performance).

Nowadays, tools that can pause EA at indicators or at arbitrary times are popular, and a representative product is [EATradeStop] MT4 trading tool that can pause and resume EA at economic indicator releases or arbitrary times. Today,[EATradeStop] will be reported on as it is actually deployed in MT4.

I immediately configured it in MT4 while reading the manual.

First, register your GoGoJungle purchase code and ID (email address) in the authentication system created by developer emija, and then place it in the MQL4 → Scripts folder,[EATradeStop] onto the chart.

The parameters are displayed as in the image below, and after entering the ID and purchase code, it becomes usable.

The parameter settings continue, but you choose whether to pull news from English-language sources or Japanese.

If you select Japanese, the news will be displayed in Japanese.

Furthermore, in the NewsCountry item in the following image’s parameters, you can specify a country to show only US news or only Japanese news, but more often people operate the IsNewsHigh、IsNewsMedium、IsNewsLow options to select the importance of news. The default setting stops up to Medium.

After completing these settings,[EATradeStop] will display a screen like the following.

The area indicated by the orange triangle below displays the news. It also shows High, Medium, and Low; by default, it is configured not to stop for Low news.

This time we selected English-language news, but if you choose Japanese, Japanese news will appear.

The area indicated by the green triangle above shows the arbitrary stop times that the user has entered in the adjacent table.記載したThe times can be displayed.

Today, for example, if there is news that Trump will make an announcement, you can set the times you think it would be better to stop. It's convenient that these can be displayed on the chart's on-chart table.

In addition, there are other convenient features; here are a few.

• Emergency stop function — can be triggered from a smartphone
• Margin maintenance stop function — stops when the margin maintenance ratio falls below the specified value
• Emergency stop for specified loss — stops when a defined loss occurs
• VIX (fear index) stop function — stops when the VIX exceeds a specified value
  

There are also other features, such as closing positions and canceling pending orders at the specified stop time, and notifying you if the stop fails.

I’d like to master these features, which will likely further improve EA performance.

Written by Hayakawa