Download MetaTrader 5

Indicators: Correlate

To add comments, please log in or register


The indicator shows correlation between currencies.

Author: pipPod

Peejay Lal
Peejay Lal  

You are a genious coder.

 Similar to this curve can you please code an manual indicator which can print on the chart as well as create a curve like price, averaged prices, breakeven point, stop loss, all input by a user.

The idea is to get  a table for breakeven points either printed on the chart or as trend lines in sub-window

(a) position/lots averaging to reduce breakeven and cut loss

(b) position/lots pyramiding to increase gains

I have found the following code which works in real-time. 

extern bool ShowMarketPrice = true;

extern color   ColorMarketPrice     = OrangeRed; 

extern bool    ShowAvgEntryPrice    = true;
extern color   ColorAvgBuyEntry     = LimeGreen;
extern color   ColorAvgSellEntry    = Orange;

extern bool    ShowStopLoss         = true;
extern double  RiskFactor           = 5;           // Risk Factor(in %) for StopLoss calculation  
extern color   ColorBuyStopLoss     = DeepSkyBlue;
extern color   ColorSellStopLoss    = LightCoral;

extern color   SwapColorLong        = Lime;
extern color   SwapColorShort       = Red;

extern bool    ShowProfit           = true;
extern string  FontName             = "Arial Black";
extern int     FontSize             = 10;
extern color   ColorProfit          = DarkSalmon;
extern bool    ShowLineLabels       = true; 

extern bool ShowSwapInfo = true; 

Peejay Lal
Peejay Lal  

An excellent article on vertical grids in trending markets. 

They are a play on dollar cost averaging as they aim to achieve an average entry price over a certain time interval. Thereby the trader has a higher chance of being able to profit from a rising (falling trend) which in the short term may be highly volatile. 

Trend Following with a Vertical Grid
Trend Following with a Vertical Grid
  • 2015.04.24
  • Steve Connell
All of the grid strategies we have covered so far have been those that enter the market on movements on the price axis. We call these horizontal or price axis grids. There is another class of grid that Forex traders use called vertical grids. With a vertical grid, the technique involves placing trades at intervals on the time axis rather than...
To add comments, please log in or register