Correlates EA Free
Free version of Correlates Expert Advisor - works only with EURUSD and USDCHF currency pairs.
The Expert Advisor implements the classic idea of correlating of these two currency pairs. This allows, when opening a position, to protect it by simultaneously opening a position on a correlating currency pair. With a high level of correlation and a reasonable money management, this approach makes it possible to avoid large drawdowns of the trading account.
When the level of correlation of currency pairs changes, additional positions are opened, what provides additional security for trading.
It is necessary to understand that testing this
strategy in the MetaTrader4 tester is impossible, since the work is
carried out simultaneously on several instruments, while the tester
makes it possible to test only one trading instrument at a time.
To get an idea of the potential of the full Correlates Expert Advisor, this link https://www.mql5.com/en/signals/author/alcad83 allows you to find live trading signals in fully automatic mode.
TimeFrame - H1.
Trading terminal - MetaTrader4.
Minimal recommended deposit - $500 for 0.01 lot.
Parameters - default.
But you can experiment, if you wish.
- AutoLot - can be true and false. If true, the EA chooses the lot size for trading depending on the balance.
- Lots - lot size is set by the user, if the value of AutoLot is false.
- Risk - part of the deposit in % used for automatic calculation of the lot.
- DD - maximum allowed drawdown, when reached all positions are closed. Performs the StopLoss function.
- CorrelationPeriod - the number of candles of the current timeframe to calculate the correlation.
- TakeProfitInPercents - take profit in % of the account balance.
- MinimumCorrelation - minimum correlation value in % for opening positions.
- CorrelationStep - change in the correlation of currency pairs for which positions have already been opened, in % for opening additional positions.
- LotMult - lot multiplier for the following opened positions.
- BrokerPrefix - if your broker uses prefix in currency names, like "fx", type it in parameter's field, otherwise the error "zero divide" will be displayed.
- BrokerSuffix - if your broker uses suffix in currency names, like ".pro", type it in parameter's field, otherwise the error "zero divide" will be displayed.
- EAMagic1....EAMagic2 - "magic numbers" that allow the advisor to work only with it's positions. Must have different values.
I would be grateful for your positive feedback and ratings - it inspires me to further improve the strategies of my advisors.
For update to version 1.21 there must NOT be any orders on your account, opened by previous version of Correlates Free.