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The Truly News indicator is a news tool

The Truly News indicator is a news tool

Control over the news is fundamentally important, first of all, for scalpers and fundamental traders. This category of traders does not have time to separately follow the news portals and a reminder of this or that news from the economic calendar is an additional help. A similar indicator, FFcal, was already considered in the previous review. Truly News is another version of the news indicator that will be of interest to those who work with automated trading systems.

Truly News – settings and application

Truly News is an indicator that displays news on the price chart in accordance with the economic calendar (template here). In the settings, you can specify the time before the release of the news, at which the indicator will send a notification (alert) to e-mail or phone.

The main differences of the indicator Truly News from FFcal:

  • In the indicator settings, you can activate the function of automatically turning off the adviser X minutes before the statistics are published and turning it on X minutes after the publication.
  • Possibility of notification immediately before the publication of statistics. The indicator is activated only N minutes before the news release. Until this moment, there is no information block on the price chart.
  • Displayed as a vertical line tied in the platform to the time of news release. The trader visually sees how much distance is left between the current price position and the news.
  • Display a list of more than 2 news items.

The Truly News indicator is installed as standard – by adding it to custom indicators. One moment: in order for the indicator to pull news with a forecast of a specific analytical portal, you need to activate the WebRequest item in “Service / Settings / Expert Advisors” and specify the address of the portal site.

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Truly News indicator settings:

  • GMT Offset – GMT offset. Since the indicator on the chart is tied to the timeline, you need to specify your time with reference to GMT. And do not forget that there is summer and winter time.
  • Basic settings: amount of news in the information block, display type, forecast display, etc.
  • News display settings according to their importance separately for each currency pair.
  • Advisor trading settings.
  • Notification settings: setting the display time of the information block before publishing statistics, sending alerts, etc.
  • Visual settings: background transparency, table frame color, news color depending on their importance, color of news coming out on weekdays and weekends, etc.

The indicator can be used for several purposes: closing all deals on the instrument associated with the news, placing pending orders on both sides of the price, adjusting stop loss and take profit levels.

Conclusion. Truly News benefits from a convenient display of information. If FFcal displays news information with a transparent background, then here it is a convenient block with the ability to display horizontally with reference to time. But Truly News has a harder time displaying the author’s forecast. Which of these indicators is more convenient can be said only after comparing them in the platform.

About Eric R. Brinkley

CEO Fxbotreview.com Algotrader. Blogger. I write interesting content, do content with you, and also maintain a website with independent reviews of forex software. Trading robots, Indicators etc..

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