To be an effective trader, understanding your entire¬†portfolio‘s sensitivity to¬†market volatility¬†is important. This is particularly so when trading forex. Because¬† currencies¬†are priced in pairs, no single pair trades completely independent of the others.¬† Once you are aware of these¬†correlations¬†and how they change, you can use them control your overall portfolio’s exposure.

Major Currency: USD/EUR/JPY/GBP/CHF/CAD/AUD/NZD

Currency Pairs: 28

Correlation is a statistical measure of how two variables relate to one another. The greater  the correlation coefficient, the more closely aligned they are. 

A positive correlation means that the values of two variables move in  the same direction, negative correlation means they move in  opposite directions.

In Forex markets, correlation is used to predict which currency pair rates are likely to move in tandem.

Negatively correlated currencies can also be utilized for hedging purposes.

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Correlation coefficient is moving between  Positive coefficient and Negative coefficient by weekly, monthly, yearly followed by market conditions.

is a fully automated Algorithm Expert Advisor, which is developed based on  Positively and  Negatively correlated currency pairs.

EA1: strategic settings

Strategic_ABC: TrendFollow

                       TrendHedge

                       FollowTrend

                       HedgeTrend            

AtrTF: average true range timeframe

AtrRange: atr range

i_CorTF: correlation calculated time frame

i_CorRange: correlation calculated range

i_Cor_High: correlation coefficient high limit

i_Cor_Low: correlation coefficient low limit

i_Spr_High: spread high limit between correlated currency pairs 

i_Spr_Low: spread low limit between correlated currency pairs

D1(%) High Level: Daily change % High Level

D1(%) Low Level: Daily change % Low Level

EA2: Risk Management Settings

0.01: Low risk

0.05: Medium risk

0.1: High risk

Maximum Open Positions: limit open position

DailyOrderLimit: Daily Order Limit

Maximum Spread Points: position will not open when currency spread is high

EA3: Close Hedge Pairs PnL Settings

Hedge Pairs Close at Profit: true/false

TakeProfit: set TP for correlated currency pairs

Hedge Pairs Close at Loss: true/false

StopLoss: set SL for correlated currency pairs

EA4: Close All Hedge Pairs PnL Settings

Close All Hedge Pairs by Profit: true/false

Profit by % of Balance: set TP for all correlated currency pairs

Close All Hedge Pairs by Loss: true/false

Loss by % of balance:  set SL for all correlated currency pairs

EA5: Chart

Our Useful Features & Services

Published

11 December 2020

Updated

Current Version

1.0

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Ahmed SarńĪkaya February 28, 2021 6:37 pm
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Excellent work.