Trading utilities for MetaTrader 4
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MetaTrader 4
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Overview
Netsrac Correlation Trader (NCT) is a very powerful tool to trade positive and negative correlated currency pairs with hedged orders.
1) It looks for positive and negative correlated pairs
2) It shows you a signal, if the correlated pairs are not in balance
3) It can "autotrade" some or all correlated pairs with your setting of time frames and signal-values (handle with care)
4) It can set the correct lot size to have pip value and daily range based optimal hedge trades
5) It can be your single tool to support your discretionary trading of correlations
You can use any time frame for the signal of the EA. Small time frames require more manual intervention than larger ones. The time frames from M30 are more suitable for automatic trading. I will gradually add more features that support both manual and automatic trading.
If you have some questions or suggestions - please feel free to contact me. Read my blog entry (https://www.mql5.com/en/blogs/post/726866) to understand the settings in this EA!
Please note. This EA can not be backtested and the !DEMO IS USELESS! because it trades in a minimum of two assets at the same time (hedged orders).
If you don't know, If this expert is right for you - take advantage of the cheap testmonth. You will not regret. Alternatively, use the free DEMO, which can be found here (https://www.mql5.com/de/market/product/38843).
Watch the video for a basic overview of Version 5.
A short explanation of basic concepts of this EA can be found here: https://www.mql5.com/en/blogs/post/726798
A short explanation of the settings and setfiles can be found here: https://www.mql5.com/en/blogs/post/726866
Attention: If you do not know what a correlation is, you should not use the EA. This is a tool, not a holy grail!
