Pairs Trading
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Pairs Trading
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.
Description & Settings
The robot opens two positions, profit and loss of which overlap each other. In other words two positions are opened: one has positive profit, while the other has negative profit. After that the robot waits for positive profit of these orders and closes positions.
The robot is capable of trading in two modes: manual and automatic (when the robot itself makes decision upon purchase or sale depending on a trade session). You shall state the symbols you have (pair or mirror) to work in the automatic mode.
You have pair symbols if symbol charts are similar.
You have mirror symbols if symbol charts are reflected specularly.
The robot provides profits statistics:
Attention!
You will need indicators for the EA. It shall be installed in
terminal data folder\MQL5\Indicators
as in the figure:
Key parameters
Correlation bail for orders opening
- correlation value according to which positions are opened.
How many times you can try to open an order
- if your agency does not open a position on the first try, this parameter will state how many times one position can be opened .
Lots for the 1st symbol, Lots for the 2nd symbol
- number of lots is selected in such a way that profit of one pair overlaps loss of the other pair. I.e. symbol profit shall be equal to zero (but during "tranquil" correlation only (see the figure)).
EURUSD and USDCHF Statistics
