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Hedge Pair

Hedge Pair

This indicator allows to observe a synthetically calculated spread between two pairs.
The main idea is to pick two pairs which have a strong and positive correlation, like EURUSD and GBPUSD, EURJPY and GBPJPY, AUDUSD and NZDUSD etc.
Once the spread line (lightgray colored line by default) goes way up high or down low, you can obtain a margin from the market by entering first pair long and second pair short or vice versae.
Exit point is when the spread line (lightgray colored line by default) reaches 0.

Theory

Strong positive correlation pairs usually move together, and this indicator shows their relative movement to each other and shows the difference (lightgray line). Ideally pairs should always move together and difference must be always at 0 value, but practically, as you may see, there are often times when the movement is not the same.
By using this indicator you can identify the moments when the pairs have a way big difference in their movement, which gives an opportunity to take profit.

Rules

You are free to make your own rules of entry and exit, the following servers as a standard exapmple:
1. When lightgray line goes above oversold (let's say 50):
1.1. Sell first symbol
1.2. Buy second symbol
1.3. Close all when lightgray line reaches 0.
2. When lightgray line goes bellow oversold (let's say -50):
2.1. Buy first symbol
2.2. Sell second symbol
2.3. Close all when lightgray line reaches 0.

Note

You should avoid entering during high impact news.

You should calculcate how much volume to trade.
For example the EURUSD and GBPUSD pair both have same pipcost across all brokers.
So it's ok to trade them with same volume for EURUSD and GBPUSD, like 0.1 lot for each.
For other pairs you should calculate, you should search traders calculater for your broker and see if the chosen pairs have same pipcost.


Parameters

  • Limit bars - limits of how much bars the indicator must calculate
  • Indicator period - a period for indicator
  • Symbol 1 - First symbol
  • Symbol 2 - Second symbol
  • Color 1 - coloring for first symbol
  • Color 2 - coloring for second symbol
  • Indicator color - coloring for spread line
  • Level 1 - Level 1 value
  • Level 2 - Level 2 value
  • Enable Alerts on levels cross - If set true, then will alert whenever level1 or level2 are crossed by indicator
  • Enable Alerts on zero cross - If set true, then will alert whenever zero level is crossed by indicator


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Arturo Lopez Perez
Tricky to find and scarce in frequency, divergences are one of the most reliable trading scenarios. This indicator finds and scans for regular and hidden divergences automatically using your favourite oscillator. [ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products ] Easy to trade Finds regular and hidden divergences Supports many well known oscillators Implements trading signals based on breakouts Displays suitable stop-loss and take-profit levels Configurable oscill
299 USD
Pattern Trader No Repaint
Pattern Trader No Repaint
Elmira Memish
Pattern Trader No Repaint Indicator MT5 Version of the indicator:  https://www.mql5.com/en/market/product/57462 I ndicator searches for 123 Pattern, 1234 Pattern, Double Top, Double Bottom Patterns , Head and Shoulders, Inverse Head and Shoulders and ZigZag 1.618 Pattern. Pattern Trader indicator uses Zig Zag Indicator and Improved Fractals to determine the patterns. Targets and Stop Loss Levels are defined by Fibonacci calculations. Those levels must be taken as a recommendation. The trad
220 USD
Gartley Projection D
Gartley Projection D
Oleksandr Medviediev
The indicator identifies the harmonic patterns (XABCD) according to developments of H.M.Gartley ( "Profits in the Stock Market" , 1935г). It projects D-point as a point in the perspective projection (specify ProjectionD_Mode = true in the settings). Does not redraw. When a bar of the working timeframe closes, if the identified pattern point has not moved during Patterns_Fractal_Bars bars, an arrow appears on the chart (in the direction of the expected price movement). From this moment on, the ar
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Price Strategy Turbo
Price Strategy Turbo
Pawel Lozinski
Works on all currency pairs. Timeframes - M5, M15, M30,H1 . The indicator is very easy to use. Open Buy trade when you see an up arrow. Open Sell trade when you see a down arrow. The indicator does not repaint its values. Arrows always stay where they have appeared. Features Arrow Orange: Open Sell trade. Arrow Lime: Open Buy trade. Red Line: Trend Line. Information on the Chart: SYGNAL BUY / SYGNAL SELL - input to Buy / input to Sell. PROFIT 1 - basic earnings. PROFIT 2 - average profit. PR
250 USD
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jmhuang
2731
jmhuang 2020.05.17 18:51 
 

A very similar indicator can be had for FREE in MQL5.COM and ForexFactory.com and I would have saved USD200. In that respect, this indicator is overpriced.

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Version 1.1 2019.12.18
New parameters added
Level1 - to manually set level 1
Level2 - to manually set level 2
Enable Alerts on levels cross - to make indicator alert whenever level1 or level2 is crossed by previous candle's indicator value
Enable Alerts on zero cross - to make indicator alert whenever zero value is crossed by previous candle's indicator value

Alerts added