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Correlation EA

  • #1
  • First Post: Jun 11, 2009 12:13pm Jun 11, 2009 12:13pm
I am trying to write an EA to do the following:

For 1-HR timeframe:
1. 15 period MA cross above 30 period MA on eur/usd
2. 15 period MA cross below 30 period MA on usd/chf
3. 15 period MA cross above 30 period MA on eur/chf

condition
if buy signal on eur/usd + buy signal on eur/chf + sell signal on usd/chf then execute buy on eur/usd.

TakeProfit is 1X ATR value
StopLoss is 3X ATR value

close half position on 1x atr, trail stop remaining balance


The person who authored this method claims an 85% success rate. -> http://www.forexfactory.com/showpost...4&postcount=46

I am new to MQL so if anyone can help or provide similar examples that would be great. I will post my progress here
  • #2
  • Edited 6:34pm Jun 15, 2009 1:44pm | Edited 6:34pm
Latest greatest:
Attached File(s)
File Type: mq4 CorrelationBot.mq4   14 KB | 2,738 downloads
File Type: ex4 CorrelationBot.ex4   15 KB | 1,669 downloads
  • #3
  • Jun 15, 2009 2:02pm Jun 15, 2009 2:02pm
what are the tests like? or are you waiting to sort the TP and SL before you test it?
  • #4
  • Jun 15, 2009 2:10pm Jun 15, 2009 2:10pm
Quoting Trk
what are the tests like? or are you waiting to sort the TP and SL before you test it?
Didn't test yet, I would like to completely implement the strategy first.

I found some code for getting ATR:

tp_pips = NormalizeDouble(ATR*ATR_Multiple,Digits);

look good?
  • #5
  • Jun 15, 2009 5:16pm Jun 15, 2009 5:16pm
Please now test the EA as it seems to have all the requirements implemented, the previously posted source code has been updated.


Here is how I used ATR to compute take profit and SL. I am new at this so expecting that I may have not done something right.

Thank you.

Inserted Code
double getATR()
{
  double atr=iATR(NULL,0,10,0);
  double atr_val = atr*Use_ATR_Pct;
  return(atr_val);
}

double getATRBuyTakeProfit(double price)
{
 double initTP;

  initTP=price+getATR();
   
 return(initTP);
}

double getATRBuyStopLoss(double price)
{
 double initSL;

  initSL=price-(3*(getATR()));
   
 return(initSL);
}

double getATRSellTakeProfit(double price)
{
 double initTP;

  initTP=price-getATR();
   
 return(initTP);
}

double getATRSellStopLoss(double price)
{
 double initSL;

  initSL=price-(3*(getATR()));
   
 return(initSL);
}
Then when calling orders:
Inserted Code
  if (UseStopLoss) StopLossLevel = getATRBuyStopLoss(Ask);  //= Ask - StopLoss * Point; else StopLossLevel = 0.0;
         if (UseTakeProfit) TakeProfitLevel = getATRBuyTakeProfit(Bid);  //= Ask + TakeProfit * Point; else TakeProfitLevel = 0.0;

         Ticket = OrderSend(Symbol(), OP_BUY, Lots, Ask, Slippage, StopLossLevel, TakeProfitLevel, "Buy(#" + MagicNumber + ")", MagicNumber, 0, DodgerBlue);
and
Inserted Code
         if (UseStopLoss) StopLossLevel = getATRSellStopLoss(Ask); //StopLoss * Point; else StopLossLevel = 0.0;
         if (UseTakeProfit) TakeProfitLevel = getATRSellTakeProfit(Bid);//Bid - TakeProfit * Point; else TakeProfitLevel = 0.0;

         Ticket = OrderSend(Symbol(), OP_SELL, Lots, Bid, Slippage, StopLossLevel, TakeProfitLevel, "Sell(#" + MagicNumber + ")", MagicNumber, 0, DeepPink);
  • #6
  • Jun 15, 2009 6:35pm Jun 15, 2009 6:35pm
Just another update for proper stop-loss, please download again if needed and test
  • #7
  • Jun 17, 2009 1:55pm Jun 17, 2009 1:55pm

I coded a dashboard for this to make it visual...

Attached Images
  • #8
  • Jun 17, 2009 4:16pm Jun 17, 2009 4:16pm
cool did you test it out?
  • #9
  • Jun 17, 2009 4:29pm Jun 17, 2009 4:29pm
Yea did you test it and if so how are the results
  • #10
  • Edited 3:19am Jun 18, 2009 1:53am | Edited 3:19am
busy testing now..but the 1st buy signal i got from it worked like a bomb! it produced a 160 pip trade that i closed out this morning...i was brave and took it on my live account so smiling!

New version of the dashboard -- now with external adjustables...
Attached Image
  • #11
  • Jun 25, 2009 9:31am Jun 25, 2009 9:31am
Hi. I am new to this post - am interested in your dashboard so that I can plaly around with this method. Can you post?
  • #12
  • Last Post: Edited 10:30am Jun 25, 2009 9:39am | Edited 10:30am
Do you have any way yet in there to track the changing correlations; if so, on what basis? A week? A month? 6 months? Have you tested yet to see how this would impact the recommendation? I.e., this would seem to need to be tied in to the correct TF. The longer the correlation % you are tracking, the longer the TF you are trading. Just curious - I think it would be relevant...

I.e., when the correlation(s) fell below a certain %, don't trade. Determine the point above which the success rate remains relatively high.

Or are you just going to keep that 'manual'?
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