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Specification
EA CORRELATION
The EA works with correlation in two assets A and B, for example, EURUSD/GBPUSD, now I need to modify the parameters based on the Spearman formula as an indicator.
PARAMETERS:
ProfitTarget = 10.00;// (Change to including cents)
DistPips = 10 // The distance in pips between aks of A and aks of B (EURUSD-GBPUSD)
Spearman = r>0.8 // Can be modified depending on the trader.
N = 10 // the number of bars that will generate the indicator, that is, for the spearman formula.
PROHIBITED:
If currency A above currency B || DistPips > 10 || Spearman > 0.8, then:
Sell A and buy B – exit ProfitTarget or when DistPips =5.
If currency B above currency A || DistPips > 10 || Spearman > 0.8, then:
Sell B and buy A – exit ProfitTarget or when DistPips =5.
SPEARMAN'S FORMULA:
It follows that in the formula:
Xi = ASK value of asset A, in our EURUSD example;
Yi = ASK Value of Asset B, in our GBPUSD example;
N = period, that is, the number of CANDLES to compare, for example last 10 bars.
Therefore, the indicator will show a number less than 1 that will indicate whether the correlation is strong or weak between the two chosen currencies.
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Project information
Budget
30+ USD