The Correlation Hedge EA for Metatrader 4 is a fully automated Forex robot that takes advantage of the high correlation between two currency pairs.
For instance, it will hedge the EUR/USD and USD/CHF currency pairs because they are highly correlated to each other.
This type of expert advisor works in all market environments, both trending and range-bound and returns low drawdowns because trading risk is limited.
Please note that the EA can not be back-tested in the Metatrader 4 strategy tester.
This fully automated trading robot should work with any Forex broker of your preference.
As always, please use this EA on a demo account first until you fully understand how it works and how it performs over an extended period of time.
The picture below shows the Correlation Hedge EA attached to the Euro / U.S. Dollar 5-minute chart.
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Recommendations & Specifications
- Trading instruments: Any currency pair
- Time frames: M1 and M5
- Minimum account balance: $150
- Demo account: Yes
- Real account: Yes
- Trading platform: Metatrader 4
Input Parameters & Settings
The following input parameter values can be modified by accessing the EA’s “Inputs” tab:
Lot 1 symbol, lot 2 symbol, balance symbol 1 & 2, time frames, bars correlation, filter, close trail %, time start, time end, equity profit %, font size
How to install and run the Correlation Hedge EA Robot?
- Open the Metatrader 4 platform
- From the top menu, click on “File”
- Now click on “Open Data Folder”
- Open the “MQL4” folder
- Open the “Experts” folder
- Copy the CorrelationHedgeRobot.ex4 file here
- Then close and restart the MT4 platform
- Attach the expert advisor to the chart
Now, you are ready to start using the Correlation Hedge EA!