price time correlation trading model
Info
The price time correlation trading model is a Expert Advisor for MetaTrader 4 that the price-time correlation ea uses the value and direction of the price-time correlation as a basis for trade signals. two trade strategies, trend and reversal, are available.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use price time correlation trading model
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
the price-time correlation ea uses the value and direction of the price-time correlation as a basis for trade signals.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: E-Close by Time: Automated Position and Order Management - another powerful expert for MetaTrader 4 traders.
the price-time correlation ea uses the value and direction of the price-time correlation as a basis for trade signals. two trade strategies, trend and reversal, are available. in addition, four methods of computing the correlation value are provided: pearson, spearman, kendall and fechner methods. these methods are provided in the accompanying include file and are based on the mql5 correlation indicators developed by a. fedsov and provided with his article “practical application of correlations in trading”.
Also recommended: three neural networks across three different timeframes - similar expert with strong performance on MetaTrader 4.
the adx and bollinger bands indicator values are used as additional trade entry filters along with time of day. an open trade can be closed based on a trade signal reversal.this ea uses the h1 eurusd chart and is tested from jan 2010 thru july 2019.
this correlation based trading strategy is robust and works well across several currency pairs and over large time periods, as far back as 2004.
You may also like: vr rsi robot: multi-timeframe rsi trading strategy for metatrader 5 - excellent alternative for expert users on MetaTrader 4.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.