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Hedge and Correlation Strategy

  • #1,601
  • Jan 26, 2011 4:52pm Jan 26, 2011 4:52pm
Had a few people PM me wanting me to send them all the indicators. They are already in this thread. Not going to take time to send indicators to people. They can get them here.

My current indicators are:
OffChartPrice
Stochastic different pairs 1.4
PairRelationshipForTwoPairs ( Sounds like a sex eduaction course)
  • #1,602
  • Jan 26, 2011 5:02pm Jan 26, 2011 5:02pm
Quoting smjones
Yes, you can invert either or both of the Stochastic lines with the invert tab.

Also, I noticed that the Alert is set for the current bar. so if the diff goes above 80 and comes back down it will still set off an alert and email. would you rather it be set one back so the bar will be closed and you will not get alerts for diff that did not close above 80?
Scott, yes, your second way (the change) would be very nice!
  • #1,603
  • Jan 26, 2011 5:06pm Jan 26, 2011 5:06pm
Quoting Dreamliner
Scott, yes, your second way (the change) would be very nice!
Ok here it is one back
Attached File(s)
File Type: mq4 Stochastic different pairs 1.4b.mq4   7 KB | 2,242 downloads
  • #1,604
  • Jan 26, 2011 5:09pm Jan 26, 2011 5:09pm
DreamLiner, could you post a chart of a pair you traded with the 80 and 50 setup. I would like to see what you mean by positive correlation. If you could just put an arrow where your entry and exits were I would appreciate it.

Do you place trades on both currencies or just one?
  • #1,605
  • Jan 26, 2011 5:22pm Jan 26, 2011 5:22pm
Well guess what: you made that nice new indicator so as I was saving it I thought I would delete all the old indicators that I wasn't using. So, you guessed it, when I reopened MT4 all the "second pair" symbols were gone. So I now have to start over and use the new indicator to load all the charts again.

Long story short, I no longer have the charts with the trades (but thank you so much for the new indicator anyway!).

I will post a chart next time I trade. I am trading both pairs when I get a signal that is over 80 (now, with the new indicator, it will have to close over 80 if I understand it right, not just touch 80), and then I exit when it gets back down to 50.

Does this help even a little?

Quoting smjones
DreamLiner, could you post a chart of a pair you traded with the 80 and 50 setup. I would like to see what you mean by positive correlation. If you could just put an arrow where your entry and exits were I would appreciate it.

Do you place trades on both currencies or just one?
  • #1,606
  • Jan 26, 2011 5:24pm Jan 26, 2011 5:24pm
Yes, those are the ebay sales folks. We give them the indicators, they write fancy sales script (read: HYPE) and put the indicators on ebay saying "a very profitable trading system" or some other lie.

When one just wrote me a PM and said, "please send me every indicator that goes with your Hedging and Correlation Strategy" I wrote back: "sure, would you like fries with that?" bahahahaa...

Quoting smjones
Had a few people PM me wanting me to send them all the indicators. They are already in this thread. Not going to take time to send indicators to people. They can get them here.

My current indicators are:
OffChartPrice
Stochastic different pairs 1.4
PairRelationshipForTwoPairs ( Sounds like a sex eduaction course)
  • #1,607
  • Jan 26, 2011 5:26pm Jan 26, 2011 5:26pm
Quoting Dreamliner
Well guess what: you made that nice new indicator so as I was saving it I thought I would delete all the old indicators that I wasn't using. So, you guessed it, when I reopened MT4 all the "second pair" symbols were gone. So I now have to start over and use the new indicator to load all the charts again.

Long story short, I no longer have the charts with the trades (but thank you so much for the new indicator anyway!).

I will post a chart next time I trade. I am trading both pairs when I get a signal that is over 80 (now, with the new indicator,...
Yes, no rush any time. and Yes you are correct on the indicator.
  • #1,608
  • Jan 26, 2011 8:15pm Jan 26, 2011 8:15pm
OK Scott,

I just took 2 trades, each one got 14 pips. I'm not sure if this is what you want to see or not; if not, please tell me what you are looking for.

This is extremely simple; we take the trade when the difference gets to 80% (goes on a trip to London, like I have to do tomorrow) then we get out as the difference gets to 50% (back home, where it lives most of the time).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: stoch correlation.gif Size: 32 KB
Click to Enlarge Name: stoch correlation1.gif Size: 33 KB
  • #1,609
  • Jan 26, 2011 8:16pm Jan 26, 2011 8:16pm
Quoting navk
Roundrock :

Your EA has been working well. It has taken three trades on euro/usd and usd/chf. First trade 11pips second trade 36 pips third trade 30 pips. But at times it takes trades on same pair, that is on usd/cHf sell and buy.

If this hitch is resolved we will have a great EA.
I am not able to reproduce this issue. for me it always places correct orders on both symbols. i need more details when this happens (copy the log statements from Experts tab)

also if you place this EA on multiple charts, then you need to change the magic number each time, otherwise it doesnt work properly. i have it on 4 different charts with different magic number. EURUSD/USDCHF, EURUDS/USDCHF, NZDUSD/USDCAD, NZDUSD/USDCHF

in the next version i give 2 options to exit. one by stoch diff and other pips. if total profit exceeds 20 pips, then exit....
  • #1,610
  • Jan 26, 2011 8:31pm Jan 26, 2011 8:31pm
Quoting roundrock
I am not able to reproduce this issue. for me it always places correct orders on both symbols. i need more details when this happens (copy the log statements from Experts tab)

also if you place this EA on multiple charts, then you need to change the magic number each time, otherwise it doesnt work properly. i have it on 4 different charts with different magic number. EURUSD/USDCHF, EURUDS/USDCHF, NZDUSD/USDCAD, NZDUSD/USDCHF

in the next version i give 2 options to exit. one by stoch diff and other pips. if total profit exceeds 20 pips, then...
Ohh noted. I changed the magic number now. The last two digits of magic number. I run on eurousd-usdchf, eurousd-eurjpy,audusd-audchf, eurchf-eurjpy.

I set entry at 65 % and exit at 15 % Let us see.
Intraday only.
  • #1,611
  • Jan 26, 2011 8:41pm Jan 26, 2011 8:41pm
Quoting smjones
Yes, no rush any time. and Yes you are correct on the indicator.
Hi jones,

Fantastic strategy and indicators. It is going to be rewarding.

Just an observation. The alert comes every time it crosses the set stoc limit. May be 4 to 5 times in the same candle.
Intraday only.
  • #1,612
  • Jan 26, 2011 8:41pm Jan 26, 2011 8:41pm
Short EURUSD
Long EURJPY

See what happens.
Attached Image (click to enlarge)
Click to Enlarge Name: dl.gif Size: 23 KB
  • #1,613
  • Jan 26, 2011 8:43pm Jan 26, 2011 8:43pm
Quoting navk
Hi jones,

Fantastic strategy and indicators. It is going to be rewarding.

Just an observation. The alert comes every time it crosses the set stoc limit. May be 4 to 5 times in the same candle.
Get 1.4b
  • #1,614
  • Jan 26, 2011 8:45pm Jan 26, 2011 8:45pm
Here is a picture of my correlation trade explorer. Where I have the line drawn is when I began this correlation experiment with the stoch.
Attached File(s)
File Type: doc Correlation.doc   583 KB | 1,837 downloads
  • #1,615
  • Jan 26, 2011 8:47pm Jan 26, 2011 8:47pm
Closed this out for 6+ pip gain.
Long eurusd & short usdchf on 1M.
Attached Image (click to enlarge)
Click to Enlarge Name: dl.gif Size: 22 KB
  • #1,616
  • Jan 26, 2011 8:47pm Jan 26, 2011 8:47pm
Quoting Dreamliner
OK Scott,

I just took 2 trades, each one got 14 pips. I'm not sure if this is what you want to see or not; if not, please tell me what you are looking for.

This is extremely simple; we take the trade when the difference gets to 80% (goes on a trip to London, like I have to do tomorrow) then we get out as the difference gets to 50% (back home, where it lives most of the time).
Hi Dreamliner, u only exit when both line cross? I mean positive correlation pair. example for EU-GU, u only will enter when different more than 50%?
  • #1,617
  • Jan 26, 2011 8:47pm Jan 26, 2011 8:47pm
But it looks like your yellow line is at 50%; what are you using to enter and exit? Just curious...

Quoting Pip Chaser
Short EURUSD
Long EURJPY

See what happens.
  • #1,618
  • Jan 26, 2011 8:51pm Jan 26, 2011 8:51pm
Quoting Dreamliner
But it looks like your yellow line is at 50%; what are you using to enter and exit? Just curious...

Red vertical line is entry. ~ 80 reading for yellow & trying for at least 5 pips.
  • #1,619
  • Jan 26, 2011 8:53pm Jan 26, 2011 8:53pm
Just realized you asked about the other trade. I will try for 20 pips.
  • #1,620
  • Jan 26, 2011 9:02pm Jan 26, 2011 9:02pm
Scott, quick question. I've got 25 pairs open with the 1.4b on all of them. My question is, do you know if MT4 can handle this? Or should I maybe try to run 2 instances of MT4? Thoughts?
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