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Pair Trading Station MT4

5

How to use Pair Trading Station

Pair Trading Station is recommended for H1 time frame and you can use it for any currency pairs. To generate buy and sell signal, follow few steps below to apply Pair Trading Station to your MetaTrader terminal.

  • When you load Pair Trading Station on your chart, Pair Trading station will assess available historical data in your MetaTrader platforms for each currency pair. On your chart, the amount of historical data available will be displayed for each currency pair at the beginning for your information. The minimum condition for calculation of Pair trading statistics really depends on available historical data. For example, for EURUSD and GBPUSD, MetaTrader Terminal must have matching historical data to calculate pair trading statistics for these pairs. When there is not enough historical data, you can do few things. Firstly you might open charts for that currency pairs and MetaTrader may load some of historical data. Secondly you might use Historical data centre to load the historical data manually.
  • Secondly, you need to decide the correlation level for Pair Trading Station to generate trading signals. Higher correlation level will give you more accurate trading signal but you might get fewer trading signals. Based on our experience, the correlation must be greater 0.7.
  • Once you have set the amount of bars to be used in the calculation and the correlation level, it is time to ask your Pair Trading Station to go through intensive calculation to generate trading signals. Just click “Analyze Pair” button to proceed the calculation. The calculation may take from 30 seconds to several minutes. The calculation time mainly depend on two factor including amount of bars to be used and the number of currency pairs in your market watch. If you have already calculated Pair trading statistics quite lately, then you don’t have to go through the intensive calculation again because Pair Trading Station keeps the latest Pair Trading Statistics. To load the latest Pair Trading Statistics, you just need to press “Ctrl”+ J key on your keyboard.


Must Read and Follow


Keep the right amount of symbols in your market watch. Otherwise, it can overload your cpu and memory. Start with 8 important symbols first in market watch, then gradually increase the numbers as you understand the process.

Many traders are not aware of how much historical data is loaded in your charts. In default setting, normally short historical data, pre-set by your broker, is loaded on your charts. To quickly increase historical data in your charts for many currency pairs, in the history centre, you can just download H1 historical data only for fast processing. Once the pair trading statistics is calculated and saved, you don’t have to worry about if your brokers overwrite or delete your historical data because Pair Trading Station will carry on generating signals using the saved information.


Input Variable Description

  • Bars to scan for calculation: To calculate pair trading statistics, you need to specify how much historical data you are going to use in the calculation. Check the currency pairs with smallest and largest historical data to get some idea of how much historical data is available in your MetaTrader terminal. Then choose good amount of data to calculate pair trading statistics.
  • Minimum Bars to qualify for calculation: Pair Trading Station will skip calculation if currency pair have less than minimum bars
  • Minimum Factor to qualify for signal: normally signal is qualified from factor 2 as in z score of standard deviation
  • Correlation Limit to match pairs: If correlation is too low, then Pair Trading Station will skip the calculation.
  • Lines Per Column when signal is displayed: This variable will specify how many lines of signal to be displayed per column in your chart
  • Colour for Medium Strength Signal: Control colour for medium strength signal
  • Colour for High Strength Signal: Control colour for high strength signal
  • Colour for Extreme Strength Signal: Control colour for extreme strength signal
  •    


Important Note

This product is the off the shelf product in the store. Therefore, we do not take any personal modification or personal customization request. For our products, we do not provide any code library or any support for your coding.


Reviews 2
Flavio Graziano
2345
Flavio Graziano 2021.08.05 09:26 
 

Very good, useful and simple indicator for pair trading. It is possible to improve it graphically but to determine the best correlated pairs, it's excellent.

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The Hurricane Indicator
Paul Nicholas Clevett
5 (1)
Currently switched to the 4 hour chart - but use other time frames for confirmation. :-)  I change my main time frame based on the market movement at the time. The Hurricane Forex Indicator is a multi time frame indicator that includes such things as Trade Notifications, Trade Calculator, Momentum Indicator, risk reward and much more. We have a free Trade room for our users as well. Please check out the video for full details of how this indicator works as it has over 15 years worth of developme
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MACD Currency Meter
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Currently at 33% discount! MACD is one of the most popular momentum and trend indicator. Currency Strength Meter is also a trend indicator which is based on multiple currencies. MACD Currency Strength Meter is a one chart indicator which have the algorithm of MACD and Currency Strength Meter. It also have one-click feature, in which 28 major and minor pairs are shown on your dashboard, by clicking a certain pair, your chart will change automatically to the chart of your choice. Product Adva
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18104 2022.02.14 15:59 
 

Very good indicator . Works great .

Flavio Graziano
2345
Flavio Graziano 2021.08.05 09:26 
 

Very good, useful and simple indicator for pair trading. It is possible to improve it graphically but to determine the best correlated pairs, it's excellent.

Reply to review
Version 7.2 2021.10.13
In version 7.2, Pairs Trading Station include Buy Asset and Sell Asset in the Potential Entry Alert. I have also enabled to set the Entry Alert Limit as low as 3.0 in input setting. But still, when you are new to pairs trading, try to use the extreme spread for potential entry, which is over 3.5 in case of Forex and over 4.0 in case of Stock market.
Version 7.1 2020.12.15
In version 7.1, we made a minor update on its statistical calculation algorithm inside Pairs Trading Station. There is no change in terms of the functionality. However, we still recommend you to use this latset version of Pairs Trading Station because the algorithm is improved in version 7.1.
Version 7.0 2019.01.07
In Version 7.0, Simple Moving Average Line was added to help your market timing better.
Version 6.7 2018.11.07
In Version 6.7, we have added cool text "Computing Matrix". Enjoy this powerful tool for your trading and investment.
Version 6.6 2018.11.01
In version 6.6, you can reload data length by clicking Spread button. Click Spread button when the data length in your market watch is not loaded fully.
Version 6.5 2018.08.27
In Version 6.5, you can run Pair Trading Station with our provided Analytical Suite together (i.e. Window App).
Version 6.2 2017.07.31
In version 6.2, user can set the location of display panel.
Version 6.1 2017.06.22
In Version 6.1, Pair Trading Station can send you alert. Following six variables are added.

Entry Alert Limit (must be greater than 3.5): User specified Entry limit
Exit Alert Limit (must be smaller than 1.0): User specified Exit limit
Aert Interval in Minutes: 60 minutes is default
Use Sound Alert: switch on and off sound alert
Use Email Alert: switch on and off email alert
Use Push notification alert: switch on and off push notification