Correlation Calculator Panel - indicator for MetaTrader 4

The Correlation Calculator panel is an indicator panel that will help you become a successful trader. It's an improved version of the calculator from the Investing website. Designed as a table, it allows you to find the best entry points even without using other indicators. This is especially useful for cross rates.

For example, we've attached a panel to the EurJpy chart. We'll see how EurUsd and UsdJpy relate to this. If EurUsd is at the top of the chart, the cross will follow its movement; if UsdJpy is at the top, the cross will follow this pair. All we need to do is wait for the major pairs to swap positions and open a cross-pair trade. The recommended timeframe for analysis is H4, with 10 bars.

The best cross pairs for this strategy are GBPCHF, EURCHF, GBPCAD, EURCAD, AUDCHF, AUDJPY, EURJPY, GBPJPY, NZDJPY, and NZDCHF. These crosses are formed by combining currencies with direct and indirect quotes, so they always mirror one of the underlying pairs.