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.
- MA Period (corr) – number of candles to calculate the average correlation
- MA Level (corr) – how many times does the correlation have to be higher than the average to search for a signal
- 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 100 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.
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