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Trading correlation pairs by using the other pairs

  • #21
  • May 3, 2020 3:57am May 3, 2020 3:57am
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  • #22
  • May 3, 2020 4:02am May 3, 2020 4:02am
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  • #23
  • May 3, 2020 4:53am May 3, 2020 4:53am
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One would be a buy AND the other a sell.
  • #24
  • May 3, 2020 5:11am May 3, 2020 5:11am
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  • #25
  • May 3, 2020 5:20am May 3, 2020 5:20am
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  • #26
  • May 3, 2020 5:46am May 3, 2020 5:46am
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  • #27
  • May 3, 2020 5:55am May 3, 2020 5:55am
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Look at these charts,
All the signals you need are there to trade,
  • #28
  • May 3, 2020 6:07am May 3, 2020 6:07am
Hi Redfan,

Thank you for sharing. I am interested in your method and would like to try it out on Monday. However, there are a few questions that I would like ask:
1) Where can we get the currency correlation coefficient indicator?
2) How do we combine 2 or more charts into a single chart?
3) With regards to the charts leading and lagging currency pairs; could you make the currency pair and timeframe a bit larger? I tried to zoom in on the computer but can't.
4) How do we spot leading or lagging pairs?
5) With regards to the forex-market-correlation on myfxbook, which timeframe of the market correlation should we use? or is there a guideline here as for example if I am trading 15min timeframe; I should look at 1hr correlation.
6) For post 26, EURUSD and GBPUSD (theoretically should be positively correlated) has shown divergence; hence in this case, should we sell both currencies?

Regards,
UM
Knowing is not enough, we must apply. Willing is not enough, we must do.
  • #29
  • May 3, 2020 7:15am May 3, 2020 7:15am
Nice 3D..... these are correlation based on 1H chart.... cut off 80%
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  • #30
  • May 3, 2020 7:34am May 3, 2020 7:34am
Quoting Unmotivated
Hi Redfan, Thank you for sharing. I am interested in your method and would like to try it out on Monday. However, there are a few questions that I would like ask: 1) Where can we get the currency correlation coefficient indicator? 2) How do we combine 2 or more charts into a single chart? 3) With regards to the charts leading and lagging currency pairs; could you make the currency pair and timeframe a bit larger? I tried to zoom in on the computer but can't. 4) How do we spot leading or lagging pairs? 5) With regards to the forex-market-correlation...
Let me get some of the Questions ticked off for you,
these are the only indicators I am using,
I am drawing the divergence lines manually.
moving avg is 21 expontial you will already have this


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Attached File(s)
File Type: ex4 Currency_Strength_Giraia_3_Tier_Breakout.ex4   41 KB | 988 downloads


Attached File(s)
File Type: ex4 SecondChart.ex4   18 KB | 932 downloads

load this two time with Different pairs

Attached File(s)
File Type: mq4 autoslautotp.mq4   7 KB | 911 downloads

i''m also using an EA. for stop Loss and take profits. It does not put on trades
  • #31
  • May 3, 2020 7:48am May 3, 2020 7:48am
you need to find pairs that go in one direction by their nature. there are groups moving in one direction.
these groups must be traded.
and it is very important that this correlation relationship is used only for a higher period of time.h4, d1.
Tested.
good luck for that.
  • #32
  • May 3, 2020 7:56am May 3, 2020 7:56am
Quoting redfan
{quote} Let me get some of the Questions ticked off for you, these are the only indicators I am using, I am drawing the divergence lines manually. moving avg is 21 expontial you will already have this {image} {file} {file} load this two time with Different pairs {file} i''m also using an EA. for stop Loss and take profits. It does not put on trades
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  • #33
  • May 3, 2020 8:00am May 3, 2020 8:00am
Quoting tiborf71
you need to find pairs that go in one direction by their nature. there are groups moving in one direction. these groups must be traded. and it is very important that this correlation relationship is used only for a higher period of time.h4, d1. Tested. good luck for that.
it is best to sort the pairs separately according to groups. aud.gbp.eur.cad, nzd.and trades these groups.

h4,d1.
  • #34
  • May 3, 2020 8:09am May 3, 2020 8:09am
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  • #35
  • Edited 8:44am May 3, 2020 8:09am | Edited 8:44am
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This is my favourite,
I will be watching the EURUSD tomorrow ready to either sell or buy,
  • #36
  • May 3, 2020 8:10am May 3, 2020 8:10am
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  • #37
  • May 3, 2020 8:11am May 3, 2020 8:11am
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  • #38
  • May 3, 2020 8:12am May 3, 2020 8:12am
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  • #39
  • May 3, 2020 8:17am May 3, 2020 8:17am
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  • #40
  • May 3, 2020 8:40am May 3, 2020 8:40am
i read the strategy and in this form it will not work.
because the groups are not well chosen.
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