PairsTrading MT5

The EA identifies divergences in two correlated currency pairs and trades in the direction where they converge back.

Working timeframe: M30

Input parameters

• MagicNumber - identification number for the EA.
• OrdersComment - comment to order, automatic if an empty value is set.
• Lots - lot size.
• DepoPer001Lot - automatic lot calculation (specify the balance per 0.01 lot) (if 0, the value from 'Lots' parameter is used).
• TimeFrame - working timeframe.
• Symbol #2 - correlated currency.
• Symbol #2 reverse - currency #2 with a reverse correlation to the current.
• Symbol #2 lot - lot of currency #2, automatic if a zero value is set.
• TradeType - drop-down list for selecting the trade direction:
  • +Sell/Buy | -Buy/Sell - standard, for pairs with direct correlation.
  • +Sell/Sell | -Buy/Buy - pairs with inverse correlation require this or the next value.
  • +Buy/Buy | -Sell/Sell - pairs with inverse correlation require this or the previous value.
• Min Correlation - minimum divergence for opening orders, in the range of 0.1 - 0.5.
• Open signal shift - offset of the signal to open. If set to "0", the current incomplete bar; if "1", the previous closed bar, etc.
• Close signal shift - offset of the signal to close. If set to "0", the current incomplete bar; if "1", the previous closed bar, etc.
• Min dist reopen (pips) - step in points for opening additional orders in case of a repeated signal.
• Max spread - the maximum spread for opening new orders.
• Hour start - hour to start searching for the entry signals.
• Minute start - minute to start searching for the entry signals.
• Hour end - hour to stop searching for the entry signals.
• Minute end - minute to stop searching for the entry signals.
• Close only in profit ($/lot) - profit value, at which closing orders is allowed.
• Exit minutes - time for closing a trade, in case there were no other signals to close.
• Profit time exit ($/lot) - profit value, at which closing orders by time is allowed.
• Trail start ($/lot) - the number of points to start the trailing stop by equity.
• Trail stop ($/lot) - trailing distance.
• Stop loss ($/lot) - stop loss in currency.
• Take profit ($/lot) - take profit in currency.

The value of parameters specified with ($/lot) are multiplied by the lot, so as not to change them as the lot size increases. Thus, if a parameter value is 1000 and lot is 0.1, position will be closed upon reaching a profit of >= $10.

The EA should be attached to one currency only, there is no need to attach the EA to the currency specified in Symbol #2.