Watch how to download trading robots for free

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

Views:
2200
Rating:
votes: 16
Published:
2018.01.25 13:06
Correlation.mq5 (13.58 KB)view

Correlation of two symbols. Values are oscillating between +1 (complete positive correlation) and -1 (complete negative correlation). Correlation value 0 is denoting absence of correlation (random changes without correlated price changes between the two observed symbols).


Usage

  • Use the correlation period to calculate either longer term correlation using longer period (good for observing if the symbols that are monitored are tending to trend in the same direction) or using short period (good for sudden price changes observation - usually when news are issued for one symbol and not for the other).
  • Enter in either or both of the symbol parameters the symbol you wish to monitor.
  • If the symbol parameter is left empty, current chart symbol will be used.
  • Set the coloring mode (two color mode is displaying different colors when zero value - no correlation level - is crossed).


Recommendations

  • If the symbols observed tend to be either completely positively or negatively correlated, a break in the opposite direction usually can be used for entries.
  • In cases like the above estimate which is the symbol that is deviating from the usual trend, and enter in the direction of the other observed symbol.
  • All values above 0.8 or bellow -0.8 can be considered as a high level of correlation.

P.S. Using same symbols in both symbol parameters will always produce result 1.

Hi/lo mod Hi/lo mod

High/Low indicator mod.

SAR trading v2.0 SAR trading v2.0

Trading signals are generated based on a comparison of two trend indicators: iMA (Moving Average, MA) and iSAR (Parabolic SAR). The EA works on the zero bar, only one position can be open. Trailing stop is used.

Moving slope rate of change Moving slope rate of change

Moving slope rate of change.

Moving slope rate of change - Extended Moving slope rate of change - Extended

Extended version of MSROC indicator.