News Catcher Pro EA Review

In this post I will be reviewing the News Catcher Pro EA which is an automated forex trading system developed to analyse the charts, place and manage trades on behalf of the user. The News Catcher Pro expert advisor is programmed in the MQL language for the popular forex trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5) respectively.

You can set it up on your charts and the software will constantly scan the forex market for potential trade setup according to the implemented trading algorithm.  You could even set the News Catcher Pro EA to semi-automated mode so that it will alert you when there is a possible trade opportunity and you can then decide if you would like to take a position or wait for the next signal to come along.

Whilst fully automated trading is a hands-off solution which can be an attractive proposition for traders who do not have the time or knowledge required to trade manually, there are some very important advantages and disadvantages to be aware of if you are considering the News Catcher Pro robot or any other forex robot for that matter.

This is another forex robot form Valeriia Mishchenko. She has a collection of forex EA’s which you can get from her own website “Valery Trading” and the MQL website. You can also find them from the marketplace within the MetaTrader platforms. I have reviewed some of her other forex robots including the Evening Scalper Pro EA, Waka Waka EA and the Night Hunter Pro EA.

In this News Catcher Pro EA Review, I will be taking a closer look at the trading strategy that it uses along with any back-test statements provided by the developer and most importantly, real account results. This can help you to decide if this is a forex EA that you would consider using on your own account or not.

News Catcher Pro EA Trading Strategy

News Catcher Pro is a mean-reversion strategy that uses intraday seasonal volatility patterns caused by high-impact news events. It enters the market at a certain time shortly before a high-impact news event occurs. The EA does not use any potentially dangerous martingale money management or grid trading strategies. It only enters a trade with market orders and uses a stop loss for each trade.

Mean-reversion strategies work on the assumption that there is an underlying stable trend in the price of an asset and prices fluctuate randomly around this trend. Therefore, values deviating far from the trend will tend to reverse direction and revert back to the trend. That is, if the value is unusually high, we expect it to go back down and if it is unusually low, go back up.

A seasonal pattern of financial markets, or a seasonal trend, refers to specific time periods in which the prices of certain financial instruments behave similarly, thus forming a trend. The important thing is that these trends are repeated and create a stable probability of happening again. It’s considered that any regular price fluctuation or trend repeated within a one-year cycle is seasonal. These seasonal patterns of financial markets can vary depending on:

  • Calendar periods of the year (seasons, months, weeks)
  • Expected events (company reporting periods, economic news, etc.)
  • Climatic conditions (colder winter, warmer summer, etc.)

You could in theory use the News Catcher Pro robot on any financial instrument or chart timeframe. It comes with a very large selection of customisable settings that you can adjust according to your own trading style. Alternatively, you could use the default settings that have already been optimised by the developer. Just keep in mind that you will need to at least modify the lot/risk size according to your own risk preferences as every trader is different in that respect. The developer recommends the following currency pairs and timeframes:

Supported currency pairs: GBP/USD, EUR/USD, EUR/GBP

Recommended timeframe: 5-minute Charts

My main concern with the News Catcher Pro expert advisor is that broker and market conditions can be so volatile around news releases. I have often seen that there can be huge slippage and spreads which are much larger than usual. Therefore, it can be very difficult to trade around the news, even at the best of times. I think this EA will need the ideal trading conditions to reach its potential.

For that, I would be looking at an ECN broker such as IC Markets. This is because they have deep liquidity pools which means traders can get access to some of the best prices on the financial markets at all times. Trades can be executed rapidly with low spreads and commission fees, something that is very import when trading forex news.

News Catcher Pro EA News Filter
News Catcher Pro EA News Filter

News Catcher Pro EA Features

  • Fully automated forex news trading robot for the MetaTrader platforms (desktop)
  • Uses intraday seasonal volatility patterns caused by high-impact news events. It enters the market at a certain time shortly before a high-impact news event occurs
  • The EA has dozens of different risk management configurations so that you can set your desired lot/risk size, stop loss and take profit levels
  • The developer is working on constant updates that are being released to keep up with the latest technologies in the trading area as well as the behaviours of the global financial markets
  • Personal support from the developer, available 7 days a week for anything you might need, even remote configuration via AnyDesk should you need help getting setup
  • Exclusive Telegram Group community, filled with hundreds of active expert traders and News Catcher Pro users

News Catcher Pro EA Back Testing

It is good to see that the developer has provided us with some News Catcher Pro EA back tests so we can get an idea of how it may trade based on historical data. This is one of the only forex expert advisors I have come across that actually can be back tested using economic data. Most of the other news trading robots state that it is not possible to back test using an economic calendar.

However, whilst the News Catcher Pro robot does show that it is indeed possible, it cannot take into account possible liquidity and slippage issues that can occur around major impact news releases. I have seen spreads and slippage increase significantly around such events, which could cause there to be a huge difference in the performance of any news trading EA.

For that reason, I would personally not take too much from the provided back tests. It is also worth mentioning that we cannot say for sure if the back tests took into consideration commissions which can also impact performance.

News Catcher Pro EA Back Test
News Catcher Pro EA Back Test

News Catcher Pro EA Results

I was unable to locate any up to date News Catcher Pro EA results. I think it would be very beneficial for potential users if the developer would be kind enough to publish and share a Myfxbook verified account where we can check the latest News Catcher Pro EA results. This can be a good way to gain an understanding of how a forex robot works by looking through the detailed statistics including profit factor, drawdown, gain, average profit/loss, trade duration and more.

I will be happy to update this News Catcher Pro Review if and when they do. Without them, we have no way of determining how the EA has been performing lately. If you would prefer to use a robot with up to date results available, you might want to take a look at the Forex Flex EA as an alternative option.

To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.

News Catcher Pro EA Summary

Overall, I am impressed with the logic behind the news trading strategy that the News Catcher Pro expert advisor implements into its unique algorithm. It is rare to come across such a well thought out news trading robot. However, we cannot really draw accurate conclusion from a news trading robot back tests for the limitations discussed above. Furthermore, I could not find any results showing how the bot has been performing recently. Whilst there is potential, I personally think there are better options out there.

The News Catcher Pro EA includes instructions, full support, updates, access to the Telegram channel and a money back guarantee. This is not the cheapest forex EA that you will find but there is also a free News Catcher Pro demo version which allows you to test the robot before making any commitment. You can get it from the Valery Trading website, MQL website and from directly within the MetaTrader platforms via the marketplace.

News Catcher Pro EA

$1170
7

Strategy

7.0/10

Backtesting

7.0/10

Results

7.0/10

Pros

  • MetaTrader 4 & MetaTrader 5
  • Automated News Trading EA
  • Unique Mean Reversion Strategy
  • Combination of Market Analysis
  • Customisable Settings
  • Back Tests
  • Detailed Instructions
  • Dedicated Support
  • Free Updates
  • Money Back Guarantee

Cons

  • Need Verified Results
  • Broker Sensitive
  • Requires Ideal Conditions
  • Requires Minimal Slippage
  • Requires Low Spreads
  • Requires Low Commissions