Range Correlation is specially made to trade correlation between currencies, both positive correlations and negative correlations.
Entry point if there is a range formed between the two currencies that has a negative/ positive correlation.
This expert must be paired with a Range Correlation Scanner: https://www.mql5.com/en/market/product/55945
+ Every open position is protected by stop loss
+ The Grid option is available with all its features, allowing to apply GRID strategy more easily.
+ Trade Buy: allow buy
+ Trade Sell: allow sell
+ Reverse: Reverse signal
+ Fill in 2nd Symbol Correlation ex. EURUSD: fill in the name of the second pair that has a negative correlation to determine the range of highs and lows. If left blank, the expert will use the default settings.
+ Timeframe Correlation: select a correlation timeframe
+ Bars History to Analyze: History Bars to Analyze
+ Minimum Range to Start Pending Order: the distance formed between the two correlation pairs
+ Range size of pending orders (in pips): Distance of pending orders from the current price
+ Step size to move pending orders (in pips): Trendline will move to the latest prices according to the number of sizes entered.
+ Trade Start Time: Time to start placing pending orders
+ Trade End Time: The time the trading session ends
+ Trade in Monday: enable / disable trading on Monday
+ Trade in Tuesday: enable / disable trading on Tuesday
+ Trade in Wednesday: enable / disable trading on Wednesday
+ Trade in Thursday: enable / disable trading on Thursday
+ Trade in Friday: enable / disable trading on Friday
+ Close all positions at the End of Session: Close all positions at the end of the session.
+ AutoLot: use automatic lot calculation
+ Risk% (if AutoLot = true): risk per trade for calculation of the auto lot size.
+ if Autolot = false, fill in Start Lot: fill in the initial lot
+ Maximal Lots: max lot per trade
+ Use Stop Loss, Takeprofit and Trailing: Use Stop Loss. takeprofit and trailling for single entry positions
+ Virtual Stop Loss (in pips): Stop loss in pips
+ Virtual Take Profit (in pips): Takeprofit in pips
+ Trailling Start (in pips): Trailling starts in pips
+ Trailling Size (in pips): Step trailling in pips
+ Minimum profit for close all $: Minimum profit to close all positions, in money.
+ Cut loss if loss $: close all positions when the cutloss target is reached, in money.
+ Cut loss by Drawdown (in percentage): Use cut loss by drawdown
+ Cut loss if Drawdown%: fill in the percentage of the drawdown
+ if Use Grid, set Use Stoploss, Takeprofit and Trailing = false: enable / disable GRID
+ Lot Type: Select lot type
+ Multiplier for Martingale: Multiplier lot coefficient
+ Maxtrade: Max trade allowed
+ Use Hedging Buy: Hedge buy positions
+ Use Pyramid Buy: Open a long position if the initial position is profitable
+ Use Averaging Buy: Open a long position if the initial position is losing
+ Buy Step (in pips): Distance to open the next long position
+ Expanding Step Coefficient Buy: coefficient multiplier
+ Use Hedging Sell: Hedge sell positions
+ Use Pyramid Sell: Open a short position if the initial position is profitable
+ Use Averaging Sell: Open a short position when the initial position is losing
+ Sell Step (in pips): Distance to open the next short position
+ Expanding Step Coefficient Sell: coefficient multiplier
+ Trailling (in money): Trail profit in money.
+ Trail Money All (in Percentage): Trail profit in percentage.
+ Use Auto Close Partial, in money: drawdown reduction algorithm, in money
+ Choose Close Partial Method: Close partial buy & sell, Close partial buy / sell, close partial all.
+ Number of trade to activate partial close: Number of open positions to start applying partial close.
+ Minimum profit to close partial $: Minimum profit amount to do partial close, in money.
+ Max Spread (in Pips): allowed spreads.
+ Coefficient (if Freeze = 0 Or StopsLevels = 0): Multiplier coefficient when freezelevel / stoplevel = 0
+ Slippage (in pips): Deviation from the asking price
+ Magic Number: fill in different numbers if trade the same pairs in 1 MT4 terminal.