Correlation Matrix Pro by AlgoSphere Quant
- Indicators
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Muharrem Rogova
Founder of AlgoSphere Quant — building a complete ecosystem of rule-based MT5 trading tools.
Our philosophy: market structure first, strict risk management always, zero martingale.
We build for traders who trade with discipline — not with hope.
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EXPERT ADVISORS - Version: 4.20
- Updated: 29 April 2026
Correlation Matrix Pro - Multi Currency Pairs Hedge Scanner
Understand the relationships between currency pairs in real-time!
A powerful analysis tool that helps you visualize statistical relationships between up to 6 currency pairs simultaneously. Perfect for portfolio management, risk diversification, and hedging strategies.
KEY FEATURES
- Real-time Pearson correlation using log returns
- Monitor up to 6 currency pairs simultaneously
- Automatic timeframe detection
- Adjustable lookback period (5-200 bars)
- Automatic hedge opportunity detection
- Minimalist, collapsible panel design
- Color-coded matrix for instant interpretation
COLOR CODING
Green (+0.70 to +1.00) = Strong positive correlation
Light Green (+0.50 to +0.69) = Moderate positive correlation
Gray (-0.49 to +0.49) = Weak/no correlation
Orange (-0.50 to -0.69) = Moderate negative correlation
Red (-0.70 to -1.00) = Strong negative correlation (hedge)
WHY CORRELATION?
RISK MANAGEMENT
Avoid doubling your risk through highly correlated positions.
HEDGING STRATEGIES
Automatically find pairs with strong negative correlation for effective hedging.
PORTFOLIO DIVERSIFICATION
Build a diversified portfolio using pairs with low correlation.
CORRELATION BREAKDOWN
Detect divergences - often a sign of upcoming market movements.
INPUT PARAMETERS
Display Settings:
- Panel X/Y position
- Start collapsed
- Apply dark theme
Correlation Settings:
- Lookback period (5-200)
- Auto timeframe
- Manual timeframe
Currency Pairs:
- 6 configurable pairs
- Symbol names must match your broker!
Hedge Detection:
- Adjustable threshold (default: -0.75)
RECOMMENDED PERIODS
Scalping: Period 5-10
Day Trading: Period 15-30
Swing Trading: Period 50-100
Position Trading: Period 100-200
NOTES
- Compatible with ALL brokers (Demo and Real)
- Works with Forex, Indices, Commodities, Crypto
- Minimal CPU usage
- Shows "N/A" when data unavailable
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