pairs trading
Info
The pairs trading is a Expert Advisor for MetaTrader 5 that 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.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install 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.
What this tool does
the robot opens two positions, profit and loss of which overlap each other.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Interactive Chart Trading Panel with Risk Management for MT5 - another powerful expert for MetaTrader 5 traders.
Also recommended: Trading Panel EA - Enhanced Trade Management - similar expert with strong performance on MetaTrader 5.
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
correlation
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
this statistic data is obtained from metatrader 5 tester. in practice such statistic can appear only on stocks, futures, options, and forts markets (the latter is more volatile). as for forex, suitable markets were found abroa
d (for insta
nce
s:// or why abroad? because at night russian agencies close and then open your positions, meanwhile loss taking (in the course of pairs trading) can happen.
You may also like: Blue Moon EA: Advanced EMA Envelope Trading for MT5 - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
input string commentation1= "";
input double lot1=1;
input double lot2=1.3;
input double stoploss=5000;
input double takeprofit=5000;
input double profit=20;
enum comm
{.......
⚠ 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.