Netsrac Correlation Trader - Settings & Setfile

Netsrac Correlation Trader - Settings & Setfile

27 May 2019, 09:53
Carsten Pflug
2
639

In this post, I would like to make a set file available and use it to briefly talk about the variables of the EA. 

You can use these sets for automatic trading. However, in my trading I intervene sometimes (news, asset selection, adding new positions). Sometimes I also remove "Autotrade" and continue manually. As I already pointed out, this EA should be a support for discretionary traders. Automated trading without intervention will (presumably) not be as successful as manual trading. So please note the risk and always test first in a demo account! I recommend automatic trading only to support manual trading.

Update: With version 2.0 3.0, the money management for automatic trading has been significantly improved. I still do not recommend fully automatic trading (I currently have too little statistical data for that). But you are welcome to help me by doing your own tests with the numerous functions.

In the following picture you can see some of the settings.


Variable Value / Explanation
--- Correlations  Correlation settings
(CR01) Underlyings AUDCAD,AUDJPY,... (I have entered all 28 main pairs of AUD, CAD, EUR, GBP, JPY, NZD and USD except of some CHF pairs and GY)
(CR02) Choose actual correlation time frame 1 Day (The EA uses the closing prices from the daily chart to calculate the correlation)
(CR03) Periods for calculation of correlation 150 (The EA uses a series of 150 values, days, to calculate the correlation)
(CR04) Minimum correlation in percent 89 (This is the minimum correlation. The 81 means that negative correlations below -81 are also taken into account)
(CR05) Maximum correlation in percent 100 (This is the maximum correlation, that will taken into account. Use this setting, to split the pairs in different Dashboards or to trade more risky pairs) 
(CR06) Trade positive correlations true (positive correlations are taken into account)
(CR07) Trade negative correlations true (negative correlations are taken into account)
(CR08) Limit count of found correlations  30 (sometimes the EA finds more correlations than can fit on the monitor. Then you can use this value to limit the displayed lines)
(CR09) Use automatic recalculation?  false (if set true, the EA will recalculate the entire dashboard + correlations at a defined time (see next option) 
(CR10) Time for automatic recalculation 21:00 (use this option in combination with "true" in the option above. ideally use a time, when the EA is inactive (see "Start hour" and "Stop hour") 
--- Signal Signal settings
(SI01) Choose signal time frame 1 Hour (This is the time frame with which the signal is calculated. I think that 1 hour is a good compromise between signal count and market noise)
(SI02) Do not trade an asset more than once  true (If one of the correlated assets is currently traded in your account and a signal occured - the ea will not trade this pair again) 
--- ComeDown Trade This is the section for trades that should fall more than rise) - See the picture below for additional informations about this values!
(SD01) Open/Signal above this value (ComeDown Trade) 85 (If the signal value exceeds 85, an alarm is generated or the trades are opened (depending on the "Autotrade"-settings))
(SD02) Close/Signal below this value (ComeDown Trade) 50 (If the signal value falls below 50, an alarm is generated or the trades are closed (depending on the settings))
--- ComeUp Trade This is the section for trades that should rise more than fall - See the picture below for additional informations about this values!
(SU01) Open/Signal below this value (ComeDown Trade) 15 (If the signal value falls below 15, an alarm is generated or the trades are opened (depending on the "Autotrade"-settings))
(SU02) Close/Signal above this value (ComeDown Trade) 50 (If the signal value exceeds 50, an alarm is generated or the trades are closed (depending on the settings))
--- Alerts Alert settings 
(AL01) Screen-Alert false (choose true, if you want screen-alerts) 
(AL02) Notify-Alert true (Alarms are sent to the smartphone. if you do not need that, select false) 
(AL03) Mail-Alert false (you can configure true, if you want an alert via email) 
(AL04) Alert timeout in minutes  10 (Alarms per pair are paused for 10 minutes. This is used, so you do not constantly get new messages)
NEW in version 3.0 --- Filter  
NEW in version 3.0 (FI01) Use oscillator entry filter the EA is calculating a value for a possible good entry based on oscillator values in different timeframes - if this variable is set to true, the EA often opens single trades (no fully hedged) 
NEW in version 3.0 (FI02) Use news filter  if the news filter is set to true, the EA will not open trades, when one or both of the correlated pairs have high impact news in specified time window 
NEW in version 3.0 (FI03) Calendar source please use investing.com as the calendar source in this version
NEW in version 3.0 (FI04) Block trades before news ... as the description said. Set this value in minutes please! 
NEW in version 3.0 (FI05) Block trades after news ... as the description said. Set this value in minutes please! 
NEW in version 3.0 (FI06) Read news every x minutes ... as the description said. Set this value in minutes please! 
--- Trade Trade settings 
REMOVED in version 3.0 (TR01) Use scoring system  false (this is a preview to a new feature called "scoring". The EA will give every asset a "score", based on different factors (e.g. pivot)) 
REMOVED in version 3.0 (TR02) Which scoring system to use Show the scores only (The trading decision function and the scoring system is still in development, but you can use it for testing purposes right now. Your feedback is very appreciated!) 
REMOVED in version 3.0 (TR03) Minimum score to trade 1 (This setting is used by the new trading decision function - see option above. This minimum score has to be reached by the pair to trade with.) 
(TR01) MagicNumber (plus 100)  1100 (The EA needs a maximum of 99 Magic numbers to handle correctly the trades. In my case, the EA will use Magic numbers from 1100 to 1199. If you don't have other EA with Magic numbers, leave this setting as is)
(TR02) Maximum Slippage 3 (This setting is to prevent to open trades with very bad parameters. Like news or fundamental crashes)
(TR03) Type of Lotsizecalculation PipValue based calculation (please read other blog entry to understand this better)  
(TR04) Riskfactor 3 (it is the multiplier of the minimum lot size per Pair. Minimum lot size depends on broker and asset. In forex mostly 0.01 is used. I get a lot size minimum of 0.03 with risk factor 3.)
(TR05) Start hour (local time) 5 (This is the hour in which automatic trading begins. Always use your local (computer) time. Preferably use periods with high volatility.)
(TR06) Stop hour (local time) 19 (This is the hour in which automatic trading stops. Always use your local (computer) time. Preferably use periods with high volatility.)
(TR07) Prefix for orders and alerts NCTH1 (This text is prepended to the comment and the alert) 
--- Money-/Trademanagement Settings for stops and profits 
(SL01) Caculation method of loss and profit EQUITY (percent of equity - all following options means percent of equity; equity - all following options means equity (in your trading-currency); pips - all following options means pips)
(SL02) Takeprofit (all Trades) 5.0 (If the overall Profit is above 5 (% or equity) - all positions are closed - It does not matter if "Autotrade" is set. If you do not want to use this, put in a 0 for this variable)
(SL03) Stoploss (all Trades) 2.5 (If the overall Loss is above 2.5 (% or equity) - all positions are closed - It does  not matter if "Autotrade" is set. If you do not want to use this, put in a 0 for this variable)
(SL04) Takeprofit (per correlation pair) 0 (if the profit of a correlation pair is above this value, the trades are closed. Leave 0 for no takeprofit)
(SL05) Stoploss (per correlation pair) 0 (if the loss of a correlation pair is above this value, the pair trades are closed AND Autotrade for this pair trade will be disabled. Leave 0 for no stoploss)
(SL06) Lock profit (per correlation pair)  0 (to use in combination with the option below - if the profit of a pair trade falls below this value, the pair trades are closed. Leave 0 for no Lock profit.) 
(SL07) Lock profit at (per correlation pair)  0 (to use in combination with the option above - if the profit rises above this value, a "Lock Profit-Variable" for this pair trade is set. If profit then falls below "Lock profit" (option above), the trades are closed. This value have to be greater than "Lock profit".
--- Trademanagement  Settings for your (automatic) trademanagement 
(SL08) Type  Standard (Standard - the main correlation is traded, the following options are not used;  Averaging - more positions to the bad one are added; Reappraisal - more positions to the opposite of the bad one are added)
(SL09) Steps  How often positions will be added
(SL10) Lot-Multiplier Multiplier for the lotsize (eg. 2.0 means: 0.01, 0.02, 0.04, 0.08 ...) 
(SL11) Stepvalue  When will the first additional trade triggered (eg. if you set option SL01 to EQUITY and set this option to 3, then the first additional trade will be triggered at a loss of $3) 
(SL12) Stepvalue-Multiplier  Multiplier for the stepvalue (eg. if you set option SL01 to EQUITY and set (SL11) to 3 and this option to 2, then the first additional trade will be triggered at a loss of $3, the next at a loss of $6, then $12, $24 and so on ...)  
(SL13) Close previous trades If the first step is reached, the previous trades of this correlation pair will be closed or not. 
NEW in version 3.0 --- Trade time out  
NEW in version 3.0 (SL14) Time out begins after x minutes This is the count of minutes after that the time out (or count down) begins (see the variables below) 
NEW in version 3.0 (SL15) Time out ends after x minutes  This is the count of minutes after that the time out (or count down) ends (see the variables above and below)  
NEW in version 3.0 (SL16) Minimum profit for time out closes (equity)  This is the minimum profit (in EQUITY!), which the trade should have to close in the time out window. Has the trade not reached the minimum profit, it will definitely closed after time out ends. 
--- Individual Stoploss/Takeprofit for every trade   
(IS01) Individual Stoploss in pips Set your (Broker-)Stoploss in PIPS for every trade 
(IS02) Individual Takeprofit in pips  Set your (Broker-)Takeprofit in PIPS for every trade 
NEW in version 3.0 (IS03) Individual Stoploss in equity  Set your individually stoploss in EQUITY for every single trade
NEW in version 3.0 (IS04) Individual Takeprofit in equity   Set your individually takeprofit in EQUITY for every single trade 
NEW in version 3.0 (IS05) Individual ATR-Stoploss multiplier   Set your individually stoploss in PIPS with an individual ATR-multiplier (this is possibly a good idea, because you have some assets with high and some with low daily volatility)  
NEW in version 3.0 (IS06) Individual ATR-Takeprofit multiplier  Set your individually takeprofit in PIPS with an individual ATR-multiplier (this is possibly a good idea, because you have some assets with high and some with low daily volatility)   
NEW in version 3.0 (IS07) Individual close above overbought level if the trade has reached this defined overbought level (eg. 70 or 80) , it will be closed by the EA 
NEW in version 3.0 (IS08) Individual close below oversold level  if the trade has reached this defined oversold level (eg. 30 or 20) , it will be closed by the EA 
--- Visuals Visuals settings 
Dashboard layout  Desktop layout (if you have a huge display size (like uhd laptop displays), then try to switch the layout to "UHD layout" 
Charttemplate pivot_e (This template will be used, if you click on the chart-buttons) 
Persistant Charts true (So that the charts keep their position, even if MT4 is restarted)
...  
Use logging true (a lot of valuable information will be logged into MT4-Journal) 


The following picture describes the values for Entry/Exit-Values for ComeDownTrade and ComeUpTrade.

ZEntry

I hope this blog entry helps you to better understand the EA and its variables. I wish you much success and many green pips!

Edit (11/20/2019): I have uploaded two set files (M15/M30), which was in test for full auto trade since August, 19th and with an overall profit without intervention. Please set the active times (in local time) to trade only the London session. Be careful and please  set the money management options to your needs!
It could be a good idea, to have multiple instances of the EA with different timeframes and set the riskfactor (TR04) higher, the higher the signal timeframe is.

The set files are using all forex pairs. If you want to have only the "safe" pairs, here is the list (decrease the minimum correlation value to 80 in this case):

AUDCAD,AUDCHF,AUDNZD,AUDUSD,CADCHF,CHFJPY,EURAUD,EURCAD,EURCHF,EURGBP,EURJPY,EURNZD,EURUSD,
GBPAUD,GBPCHF,GBPJPY,GBPUSD,USDCAD,USDCHF,USDJPY

For more informations, watch the videos on youtube:

Watch Video#1 (first start)
Watch Video#2 (how to operate the dashboard)
Watch Video#3 (trade handling)
Watch Video#4 (how the signal is generated)
Watch Video#5 (the scoring system)
Watch Video#6 (new in version 3)

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