📈 Track and analyze Forex news trading results with MyFxBook and Google Sheets
⚡ 1,036 views · 📈 Crypto Trading & Stock Market
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Description
Forex News Trading Result Data
This n8n template simulates the results if we take every trade based on the previous workflow: https://n8n.io/workflows/8340-automated-forex-news-alert-system-with-forex-factory-and-telegram/
Use Cases
- Analyze which news events have a higher probability of generating profit.
- Decide on Take Profit and Stop Loss levels for specific currency pairs or news events.
Currency Pairs
EURUSD, GBPUSD, AUDUSD, NZDUSD, USDJPY, USDCHF, USDCAD, XAUUSD
Limitations
- We use High, Low, and Live Prices from MyFxBook. These values may differ depending on the broker.
- Spread widening and slippage will vary across brokers.
- Price gaps may occur over weekends.
- Profit/Loss also depends on when the trade is closed.
How It Works
- Each day, the workflow checks if the Sheets have empty High and Low Price values.
- It queries MyFxBook for updated High and Low Prices for Date+1 (the next trading day after opening a buy/sell position) using the HTTP Request node.
- The response from the HTTP Request is parsed.
- If new High and Low data are available, the workflow retrieves the date.
- It scrapes the new High and Low Price data and calculates the multiplier for the respective currency pair.
- Example: USDJPY prices have 3 decimals, so the multiplier is 1000.
- Sheets are updated with High, Low, Points Up, and Points Down.
- The workflow checks if the buy/sell position results in profit or loss.
- Example: if we have a EURUSD Buy position and Points Up > 0, then there is a possibility of profit.
- Points Up can be negative if the new High Price remains below the Buy position entry price.
- If we have a Buy position and Points Up ≤ 0, then there is a possibility of a loss.
How to Use
- Enter all required credentials.
- Create or download a Google Sheets file (example): https://docs.google.com/spreadsheets/d/1OhrbUQEc_lGegk5pRWWKz5nrnMbTZGT0lxK9aJqqId4/edit?usp=drive_link
- Run the workflow.
Requirements
- Enable the Google Drive API in Google Cloud Console.
- Provide Google Sheets credentials.
Need Help?
Join the Discord or ask in the Forum!
Thank you!
🔗 Nodes Used
Google Sheets, HTTP Request, Markdown, Schedule Trigger
📥 Import
Download workflow.json and import into n8n:
Workflow menu → Import from File