News Catcher Pro EA MT4

News Catcher Pro EA MT4 trades mean-reversion opportunities around high-impact economic news on EURUSD, GBPUSD and EURGBP. It is designed for traders who prefer selective, scheduled activity with configurable exposure and exits. CheaperForex offers the MT4 edition with setup help and a detailed guide to the available evidence.

Read our News Catcher Pro review for live-account drawdown, optional grid behaviour and an MT4/MT5 comparison. Already using MetaTrader 5? View the MT5 edition.

A news strategy with deliberate timing

The EA looks for intraday volatility patterns associated with major announcements and can enter shortly before an event. Its news window helps decide when trading is allowed; it is not simply a switch that avoids all news. The developer warns that trades are infrequent, so a quiet chart does not necessarily indicate a fault.

• One-chart control: manage the three supported pairs from a single M5 chart.
• Flexible sizing: fixed lots, dynamic sizing, percentage-risk calculations and predefined risk choices.
• Currency exposure limits: restrict simultaneous symbols and repeated exposure to the same currency direction.
• Managed exits: volatility-based stops and targets, a holding-time limit and Friday closure settings.

Controls to check before the first live trade

Minimum free margin can block new pending orders and cancel pending orders already placed. Floating-drawdown settings can close positions when their configured limit is reached. The documented Maximum Spread input applies to position closing; it should not be mistaken for a guarantee that every entry will occur at a narrow spread.

Release notes also document optional grid averaging, trade multipliers and a maximum trade count. These choices materially change exposure. Review them explicitly rather than assuming this is always a single-position system. Rollover options can alter stop handling and drawdown checks, so the account needs supervision appropriate to the chosen settings.

Prepare your MT4 terminal

Chart

One M5 chart; EURUSD is the developer’s recommended host chart.

Symbols

EURUSD, GBPUSD and EURGBP, including your broker’s exact suffixes.

Connection

A continuously running VPS is recommended, with an ECN broker preferred.

News and time data

Allow the developer’s listed WebRequest addresses and check GMT/DST detection.

Settings

Core settings are stored internally; a separate SET file is not required for the basic setup.

For an MT4 backtest, the developer specifies Tick Data Suite with GMT+2 and US daylight-saving settings. Confirm that your NewsEvents.txt history covers the intended test period. An old event database can make the EA stop taking trades in the tester even when the terminal itself appears to work.

Choosing this edition

This edition fits an existing MT4 workflow. The current developer-linked public account is MT5, so its results are useful strategy evidence rather than proof of identical MT4 fills. News spreads, slippage and prolonged losing positions can produce results that differ from a test report.

Portfolio Mode is documented for coordinating initial entries with the author’s other systems. Compare Perceptrader AI MT4 and Golden Pickaxe MT4 individually; running several EAs on one account does not remove their combined risk.

7-day money-back guarantee if it fails to install or run. Setup help by email whenever you need it. Trading results are not covered by that guarantee.

Developer references

• Developer source link: News Catcher Pro specification and original images.
• Live signal link: Developer-linked MT5 account.
• Release history and optional controls.

Delivery: standalone file for the selected platform, with free lifetime updates, added as soon as we receive them. Follow the delivery instructions in your account after checkout. The downloadable DeliveryInformation document is an instructions file, not the EA executable.