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Trading correlation pairs by using the other pairs

  • #161
  • May 10, 2020 1:31pm May 10, 2020 1:31pm
Quoting MQLTrade
Daily Correlation Update.....Have a Nice Weekend to all {image}
Hi @MQLTrade
Can you share or give me your indicator name, tks !!!
  • #162
  • May 10, 2020 2:26pm May 10, 2020 2:26pm
Quoting redfan
{quote} When I started this thread, it was because I wanted to try another way of doing it, I wasn't an expert on correlation trading, it's just that all the sites I visited the only way they were trading it, was Strong versus weak, And for the past 12 weeks, I've been looking at charts where you could use an indicator, and where you could see an entry point, I tried putting divergence lines on charts versus charts instead of putting it on an RSI chart and have had mixed results, I'm looking at this moment at pairs that are 99% the same Mirror Image,...

FWIW

In case you may want to check out some of the older discussions of similar methods.... Like I said. I've not been able to solve the riddle, myself.

https://www.forexfactory.com/showthread.php?t=677100

https://www.forexfactory.com/showthr...9#post11164159

I've heard it mentioned a few times that you can try to trade triangles. (triangular arbitrage). I've not tried it but am wondering out loud if following three pairs of a triangle and looking for divergence on two of them could tell us the best pair to trade and entry?
  • #163
  • May 10, 2020 4:15pm May 10, 2020 4:15pm
I'm so curious to know if it really works.....

This is AUDUSD vs USDCAD.....
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  • #164
  • May 10, 2020 4:40pm May 10, 2020 4:40pm
Quoting SithFX
I'm so curious to know if it really works..... This is AUDUSD vs USDCAD..... {image}

I read about this a few weeks ago.
It's come from the commercial section you have to pay for it,
Are you using a trial?

THANK YOU FOR THE INPUT.
  • #165
  • May 10, 2020 4:43pm May 10, 2020 4:43pm
Quoting dagoods
{quote} FWIW In case you may want to check out some of the older discussions of similar methods.... Like I said. I've not been able to solve the riddle, myself. https://www.forexfactory.com/showthread.php?t=677100 https://www.forexfactory.com/showthr...9#post11164159 I've heard it mentioned a few times that you can try to trade triangles. (triangular arbitrage). I've not tried it but am wondering out loud if following three pairs of a triangle and looking for divergence on two of them could tell us the best pair...
Very interesting. The first site you put me onto.
Again, thanks for the input
  • #166
  • May 10, 2020 4:55pm May 10, 2020 4:55pm
Quoting redfan
{quote} I read about this a few weeks ago. It's come from the commercial section you have to pay for it, Are you using a trial? THANK YOU FOR THE INPUT.
Yes, i paid 69€. In the worst case i will have a little loss.

I will try before on demo account, better be wise
  • #167
  • May 10, 2020 5:03pm May 10, 2020 5:03pm
Quoting SithFX
{quote} Yes, i paid 69€. In the worst case i will have a little loss. I will try before on demo account, better be wise
It sounded very interesting when I read it,
hope you keep us up-to-date with your progress,
good luck.
  • #168
  • May 10, 2020 5:18pm May 10, 2020 5:18pm
Quoting redfan
{quote} It sounded very interesting when I read it, hope you keep us up-to-date with your progress, good luck.
Sure, i will....

This is a rapid search on 15min and 60min to find all couple of crosses with correlation < -80%
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  • #169
  • May 11, 2020 3:37am May 11, 2020 3:37am
Good morning everyone
well up and running
just took this trade NZDUSD SELL.

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  • #170
  • May 11, 2020 4:23am May 11, 2020 4:23am
Moved stop loss into profit.


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Deleted 2 of my moving averages decided I didn't need them.
  • #171
  • May 11, 2020 5:09am May 11, 2020 5:09am
Fresh signal on 15min EURGBP & GBPCHF.....
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  • #172
  • May 11, 2020 6:12am May 11, 2020 6:12am
Quoting SithFX
Fresh signal on 15min EURGBP & GBPCHF..... {image}
Perfect movement into NEGATIVE CORRELATION: EG UP GC DOWN .....amazing how correlation is a leverage of trade
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  • #173
  • May 11, 2020 6:54am May 11, 2020 6:54am
Quoting SithFX
{quote} Perfect movement into NEGATIVE CORRELATION: EG UP GC DOWN .....amazing how correlation is a leverage of trade {image}

So how does it work if I remember correctly when I read it,
is it something like if the spread goes down you buy. And if the spread goes up you sell.
  • #174
  • May 11, 2020 6:55am May 11, 2020 6:55am
I got into this trade purely on the strength meter and the moving 21 average crossing the moving 50,

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  • #175
  • Edited 2:13pm May 11, 2020 7:00am | Edited 2:13pm
This is the same trade, but with a different set up of the charts
the entry point is when the candle's cross,
And at that point the moving average crosses
That is the entry point,

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  • #176
  • May 11, 2020 7:08am May 11, 2020 7:08am
Quoting redfan
{quote} So how does it work if I remember correctly when I read it, is it something like if the spread goes down you buy. And if the spread goes up you sell.
Great trades Redfan!

It calculates strength of each cross: when strengths cross over a level o below a level.....advisor tells if BUY or SELL.....
  • #177
  • May 11, 2020 7:14am May 11, 2020 7:14am
Update Daily Correlations....green pips to all
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  • #178
  • May 11, 2020 7:32am May 11, 2020 7:32am
Quoting SithFX
{quote} Great trades Redfan! It calculates strength of each cross: when strengths cross over a level o below a level.....advisor tells if BUY or SELL.....

Sounds great. Keep making notes for yourself,
wishing you all the luck in the world,

PS thanks for your contribution.
  • #179
  • May 11, 2020 7:39am May 11, 2020 7:39am
Quoting MQLTrade
Update Daily Correlations....green pips to all {image}

What are the numbers under the USDCHF and USDJPY the two end columns,
What are they telling us, They all grey numbers, HAVE you actually got an indicator for this that you can share,
Thank you for your contribution,
  • #180
  • May 11, 2020 7:44am May 11, 2020 7:44am
Quoting redfan
{quote} What are the numbers under the USDCHF and USDJPY the two end columns, What are they telling us, They all grey numbers, HAVE you actually got an indicator for this that you can share, Thank you for your contribution,
It is Correlation between USDJPY & USDCHF: 76.3%.... direct correlation
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