Correlation and Overexposure Checker

See the correlated risk hidden across all your open trades — live on the chart, with an exposure cap and clear alerts.

OVERVIEW
Many traders size each trade carefully, but still take more risk than intended because several open positions depend on the same currency or move together. EURUSD and GBPUSD bought together are largely one USD trade. A "hedge" on a negatively correlated pair can cancel itself out and only add spread.

Correlation and Overexposure Checker scans every open position on the account, measures how the traded symbols move together and shows the combined picture in one panel on the chart. It is an analysis tool. It never opens trades.

HOW IT WORKS
1. Reads all open positions on the account, whatever chart the tool is attached to.
2. Calculates the correlation between the tracked symbols from completed bars over an adjustable lookback (30 days by default).
3. Breaks every position into its currency or asset legs, for example EURUSD buy = long EUR + short USD, and GOLD sell = short GOLD + long USD.
4. Groups the legs to show net exposure per currency or asset and finds the largest correlated group.
5. Flags risky combinations and compares the largest group with your exposure cap.
6. Updates on a timer, so monitoring does not depend on ticks of the chart symbol.

KEY FEATURES
- Hidden overexposure detection: flags positions that look separate but carry the same risk, for example two positively correlated pairs traded in the same direction.
- False-safety hedge detection: flags trades that look like a hedge but cancel each other out on a negatively correlated pair, so you pay double spread with no real protection.
- Net exposure per currency and asset: shows long and short lots per currency, plus Gold.
- Correlated exposure cap: five ways to measure it: % of open volume, % of balance, % of equity, % of margin used, or a fixed amount in account currency.
- Risk presets: Custom, Conservative, Moderate and Strict, for quick setup.
- Optional auto-close: off by default. When enabled, it closes only a newly opened position that pushes exposure over the cap, and never touches positions that already existed.
- Broker symbol detection: handles suffixes and different names automatically, for example XAUUSD → GOLD.
- Works on hedging and netting accounts: the account type is detected automatically.
- State saved across restarts: the terminal can restart without losing context.

EXPOSURE RADAR PANEL
- Status dot: green = clear, amber = correlation flags present, red = cap breached.
- Net exposure bars per currency or asset (long / short).
- Exposure cap meter, showing the largest correlated group against your limit.
- Correlation flag cards, showing the pair, the correlation value and the flag type.
- Vertical or landscape layout, switched with one click.
- Collapses to a one-line status bar, so the chart stays clear.
- Drag to move it anywhere on the chart.

ALERTS
Choose one alert method:
- Popup with on-chart display
- Sound
- Push notification to the MetaTrader mobile app (uses your own MetaQuotes ID)
- Telegram Bot (uses your own bot token and chat ID)
Alerts fire when a new flag appears, when the cap is breached and when exposure is back within the cap.

RISK PRESETS
- Conservative: correlation thresholds +0.60 / −0.60, exposure cap 30%
- Moderate: correlation thresholds +0.70 / −0.70, exposure cap 50%
- Strict: correlation thresholds +0.50 / −0.50, exposure cap 20%
- Custom: your own inputs
Presets change only thresholds and caps. They never switch on auto-close; that stays a separate, manual choice.

INPUTS
- Correlation lookback (days) and high/negative correlation thresholds
- Max correlated exposure (% or fixed amount) and the cap basis
- Auto-close new positions on cap breach (default: off)
- Symbols to track (blank = major pairs + Gold)
- Account type (auto-detect, netting, hedging)
- Risk preset and an optional label
- Alert method, plus Telegram bot token and chat ID
- Panel: show/hide, layout, start collapsed

WHO IS IT FOR
- Traders who hold several positions at the same time
- Prop-firm and funded-account traders who must control total risk
- Traders running more than one EA on the same account
- Gold traders who also trade USD pairs

INSTALLATION AND SETUP
1. Attach the tool to any chart, on any symbol and timeframe.
2. The default settings work right away: major pairs and Gold, 30-day correlation, monitoring only.
3. Optional: choose a risk preset or set your own cap.
4. For push alerts, enter your MetaQuotes ID in Tools > Options > Notifications.
5. For Telegram alerts, create your own bot, enter the token and chat ID in the inputs, and add https://api.telegram.org to Tools > Options > Expert Advisors > Allow WebRequest. If these are missing, the tool shows a setup guide and keeps running.
6. Allow Algo Trading only if you switch on auto-close.

IMPORTANT INFORMATION
- This is a risk-analysis utility. It does not open trades, give signals or predict prices.
- Correlation is calculated from past price data, and relationships between instruments can change.
- The tool does not guarantee profits or prevent losses. Use it together with your own risk management.
- In the Strategy Tester the tool loads and runs, but it needs open positions to show flags. Its main use is on a live or demo chart.
- Test it on a demo account first, with the settings that suit your trading.