Netsrac Correlation Trader
Netsrac Correlation Trader (NCT) is a very powerful tool to trade positive and negative correlated currency pairs with hedged orders.
1) It looks for positive and negative correlated pairs
2) It shows you a signal, if the correlated pairs are not in balance
3) It can "autotrade" some or all correlated pairs with your setting of time frames and signal-values (handle with care)
4) It can set the correct lot size to have pip value and daily range based optimal hedge trades
5) It can be your single tool to support your discretionary trading of correlations
You can use any time frame for the signal of the EA. Small time frames require more manual intervention than larger ones. The time frames from M30 are more suitable for automatic trading. I will gradually add more features that support both manual and automatic trading. You can use the " Netsrac Correlation Trade Indicator" to perfectly calibrate the EA.
If you have some questions or suggestions - please feel free to contact me. Read my blog entry to understand the settings in this EA!
Please note. This EA can not be backtested and the !DEMO IS USELESS! because it trades in a minimum of two assets at the same time (hedged orders).
If you don't know, If this expert is right for you - take advantage of the cheap testmonth. You will not regret. Alternatively, use the free DEMO, which can be found here (https://www.mql5.com/de/market/product/38843).
A short explanation of basic concepts of this EA can be found here: https://www.mql5.com/en/blogs/post/726798
A short explanation of the settings and setfiles can be found here: https://www.mql5.com/en/blogs/post/726866
Attention: If you do not know what a correlation is, you should not use the EA. This is a tool, not a holy grail!
- set an individual sl/tp in pips for every single trade
- option to prevent trading the same asset again
- Trade management „Averaging“ added (positions in the same direction of the bad pair can be added in defined steps)
- Trade management „Reappraisal“ added (positions in the opposite direction of the bad pair can be added in defined steps)
- Options for money management can now be set in pips too
- the scoring system is now ready for public release. The calculation method is still under development! Your feedback is very appreciated!
- two trading modes with the scoring system added. "trade only the strongest pair" or "trade both pairs only, if both are strong". use these modes only in demo at the moment!
- for all users, who have huge display modes i have added a new "UHD layout"
- some performance optimizations
- virtual stop loss and take profit can be entered in equity or percent of equity
- first version of a "trade-score"
- lock profit at a specific level (never again make a winner a loser)
- Fixed: Calculation of the active and inactive time overnight now works as expected.
- Fix: Alerts generated now only in (active time)
- Button added to enable/disable "auto trade" on all correlated pairs with one click
- Improvements in Signal-Algorithm to better support full "auto trade"
- Fix: Number of found correlations can be limited
- Fix: Recalculate only possible if no more trades are open
- Fix: Font size on buttons now customizable