Today we’re seemingly seeing some pairs lose steam trending-wise and gaining ranging-wise. I wouldn’t switch just yet because we need further confirmation on more than just a few pairs. The trending is still strong at +1000 but the ranging is gaining a bit at +120. I did turn some off in my real account earlier though and these movements may not have anything to do with market direction but rather with news announcements. There were some important ones today for CHF, GBP & USD.
I mentioned earlier that I don’t include the news aspect into my trading strategy because I simply don’t clearly see the relationship all the time. Sometimes there will be huge news and no market reaction and sometimes you’ll get this WTF 1H bar like the world is coming to an end, and you search and search the news and find absolutely no justification. And of course, sometimes there are news AND a market reaction. But all this seems so random to me.
I have read articles and books on “how to trade the news” and you’ll find many threads and even whole supra-threads dedicated to all sorts of approaches based on news. A few years back, I got a few indicators that show upcoming news directly on your screen. Here’s one:
I guess this is fine if you’re only trading 1 or 2 pairs, but with 10 pairs up on your screen, things will get a bit crammed. If you’ve got 2 screens, then it might be an option, if you so choose to integrate news and trading.
You can find the calendar indicator and a template in the download link. You can place the calendar directly on a pair, it won’t affect anything. But PULL UP AN ADDITIONAL CHART if you intend to use the template (to get a screen like in my pic) because it will erase your bot and everything else you’ve got on your pair screen.
Calendar indicator: FFCal.mq4 (copy to your Experts/Indicators folder)
Calendar template: FFCal.tpl (copy to your Templates folder)
