Forex Correlation EA: Smart Pair Strategy Analyzer for MT4 (Build 1420+) with SetFiles

Summary

Forex Correlation EA is a trading tool designed to simplify trading decisions. It takes advantage of the correlation between different currency pairs to make informed decisions. For example, the expert compares the movement of two currency pairs with similar movements to execute trades that match their similar movements.

Notable Characteristics

• The expert assesses the strength of the correlation between currency pairs.
• It is easy to use and customize, and can be run with its default settings.
• Forex Correlation EA assists in effective risk management by placing stop-loss and take-profit orders to preserve account capital and maximize profits.

Who Should Use Forex Correlation EA?

Forex Correlation EA is suitable for all professional and beginner traders as it improves their trading performance in the Forex market. Whether you are looking for an easy way to make profits in the Forex market or a trading method different from manual trading, the Expert can help you with that.

Advantages

Forex Correlation EA has been tested before and has proven remarkably successful. It also features risk management for each trade that is appropriate to the account capital and The expert works 100% automatically, as there is no need for manual intervention.

Disadvantage

• One of the disadvantages is the total dependence on the market. The expert depends greatly on the conditions and movements of the market, and in cases of unexpected fluctuations, the results may be completely unpredictable. Also, the expert has been programmed in advance on certain conditions, so if these conditions are met, it will completely ignore important economic news and events.

Forex Correlation EA Feedback

When investigating feedback, it’s vital to consider various platforms and user insights. Favorable reviews might emphasize the EA’s capability to execute a distinct correlation-driven strategy proficiently, while unfavorable reviews could highlight challenges with execution in specific market conditions or the intricacies of the settings.

Configurations

• Trading Platform: MT4
• Minimum Investment: 250$
• Currency Pairs: Any Pairs
• Applicable Time Frames: M5, M15
• Leverage: A leverage of 1:400 or greater
• Product Classification: NoDLL / Fix

What’s included in the bundle?

• Experts: Forex Correlation EA_1420+.ex4
• Configurations:
  • H1_All Pairs.set
  • H1_Best Pairs.set

How to install Forex Correlation EA

1 – Download the Expert

Download the Expert file from the email sent to you

How to Extract a File from Winrar?

First, if you don’t have Winrar here is the download link, download and install

https://www.win-rar.com/download.html?&L=0

Right-click on the WinRAR file and select ‘Extract Here’ to extract the files in the current location. Alternatively, choose ‘Extract to’ if you want to extract the files into a specific folder.

2 – Add the Expert to the platform

• Open the trading platform and choose File –> Open data folder
• Then go to the MQL4 folder –> Experts

(if the expert works on MT5 then you will choose MQL5 instead)

• Put the Expert file in this folder
• restart the platform

3 – Run the Expert

• Choose the appropriate pair for the Expert and then drag the Expert from the navigator window and place it on the chart (or simply Double click on it)
• Make sure that auto trading is activated in the platform and the Expert as well

Conclusion

Forex Correlation EA is a trading tool that exploits the Correlations between currency pairs. It analyzes two pairs with similar movements and takes trades based on the direction of the pairs.