Accounting for the news background is one of the most important factors in Fundamental Analysis. Economic and political news have a direct impact on currency quotes. Even if you use only technical analysis in your trading, knowing the time of macroeconomic events, you can improve your trading performance.

News such as changes in interest rates, GDP growth (or falling), presidential elections (or parliament) and unemployment data can cause a movement in the tens, if not hundreds of points in a matter of minutes. Also, the average importance can be attributed to data on the volume of production orders, the indicator of housing construction, the index of retail sales.

Do not forget that during the release of important news, the market can occur a strong slippage and your applications for opening trades will be executed at an unfavorable rate.

Information about the upcoming news is available on one of the most popular websites dedicated to the Forex Market – Forex Factory. The data is updated every week and contains the full list of future world events from Monday to Friday.

The indicator contains many settings for more accurate data analysis, such as: the impact of news, the filter of specific currencies, the previous data indicator and the forecast, the display of data output lines directly on the graph itself. The built-in user notification feature won’t let you miss the moment important news is released.

Indicator settings:

It is important not to forget in the settings to change the GMT indicator to the one that your broker uses.

Also useful function is to stop the work of experts in the terminal – clicking the Auto-Trade button. For example: you have a number of advisers on the account, the work of which you are physically unable to control 24/5, then the help will come an indicator that will press the auto-trading button, thus will not allow a third-party adviser to enter the market at the time of the release of important news for the currency.

As a result, we have a convenient free tool for additional analysis of trading conditions, which is able to prompt as the best time to enter the market (if your system includes trading on news), and protect you from unnecessary risk, allowing you to avoid a bad entry.