You see these pink lines on the chart? They might even remind you of some transporter scene from Star Trek?
Assure you no one's going to get beamed anywhere
We're gonna be talking about how to get smart news alerts with only the events that will impact your charts
So they don't create a cluttered mess like this... stay tuned!
First you need to get the tool now don't worry
We have a free version and a premium tool for this and we do have a video in the past that has explained the differences
so I'm gonna put the links to the free tool and
the differences of that video and the premium tool in the description below or you can just go to xabcdtrading.com
What this does is it basically
maps in all the news events that happen from the beginning of the week when the market open to the end of the week when
the market closes now you're gonna see a whole bunch of different colors here
because they're marking the high medium and low priority news events
And that's why you can see quite a few events happening in such a small period of time
Now if we change this from a four hour down to thirty minute and see how these lines are going to become a little bit
More useful you see them spread apart, but there's still a large amount of lines of news events there
We want to really narrow that down to the ones that are gonna really matter to us
The yellow Lines are low priority news event so since they won't have a huge impact
Let's get rid of those will right-click on the chart will go to indicators
And we'll go into the properties of the indicators and underneath the low priority news events
We're going to uncheck where it says "is visible". Okay this way. We're not going to see those yellow lines. We'll hit apply and okay
The orange are medium rank news events and chances are we can probably be safe with removing those too
Now things are starting to look a little bit better because all we have available are those high-priority news events
Now we have almost configured how we want to get the news alerts onto our charts to be the most meaningful
But there is one last important feature called smart news filtering the instrument that we're currently looking at is the USD/CAD
and any sort of news that's going to come in new zealand probably won't have much of an impact here
So why do we want to have those news alerts on our us-Canadian chart, okay?
the news that would be the most important and the most
Meaningful is either gonna come out of Canada or it's going to come out of the us
And that's the news that we want to see so right-click on your charts and go to indicators
Find the news indicator and look underneath the properties, okay?
It says show all events this means that we're not going to see all the news events
But only the ones are gonna be affected by this chart, okay in this case
It's a us dollar or the Canadian dollar and that's all we want to see are all those economic news releases
That are going to impact the us dollar or the Canadian dollar
So let's look at where we started and where we are now and the differences of how useful this tool has become
Let's make it even more worth your while
let's add in some audio notifications for the highest priority news events by right clicking and going to the indicator properties and
Finding your way down to high priority news events where we can then select that audio file
Now we have a few audio files created that you can download as well
And it'll just place some of them for you. "High priority news alert!" "Medium priority news alert"
Anyways, if you need any of this or a price line, tool
We'll put the free links to them all in the description below this news tool though is the premium one
So you might see a bit of a difference, but regardless they both do the smart news filtering so enjoy!
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