Forex Correlation Robot is Launched in March 2014 by Pankaj Bhaban. He was one of the most rated registered MQL developers since 2010, with over 9.6 ratings. It is for all sizes of Forex Traders to gain the most out of all market conditions with fully automated trading.
STRATEGY of Forex Correlation Robot
The correlation strategy is used by many professional and bank traders for hedging positions with its Correlated pairs to reduce exposure and risk while trading. Fx Correlation uses negatively Correlated pairs for pool execution which hedges each other to reduce and increase profits Eg. GBPUSD — EURGBP
With recommended settings, a decent monthly 30% return can be achieved, whereas one can raise performance to even 200%+ by increasing Lot Size hence risk.
Since it’s a correlation, the EA result that comes from the strategy tester doesn’t accurately represent real-world result so recommend testing it on a demo.
Please test in a demo account first for at least a week. Also, Make yourself familiar and understand how this Forex Correlation EA works, then only use it in a real account.
- Minimum account balance of 500$.
- It’s a correlation strategy, Best settings for this EA are given below in How to Install.
- Work Best on M15 Timeframe (any Timeframe)
- To reach stable results, This Forex Correlation Robot should work 24/7 on VPS. So we Recommend running this free forex EA on a reliable VPS (Reliable and Trusted FOREX VPS – FXVM)
- Low Spread ECN account is also recommended (Find the Perfect Broker For You Here)
How to Install(Important)
- Open EURUSD, GBPUSD, and USDJPY charts only & set all of them to a 15M timeframe.
- Attach “Fx Correlation update 1.3” EA to these 3 charts with the following settings
- Lot =0.01 for each 500$
- TakeProfit = 2.5 for each 0.01 lot for 0.04 lot use 10
- StopLoss= 0 (EA will close order on reversal of entry signal)
- Make sure all three EA has different magic numbers
EA input parameters “symbol1” & “symbol2” are different for different charts as follows.
- EURUSD chart symbol1=EURUSD & symbol2=USDCAD
- GBPUSD chart symbol1=GBPUSD & symbol2=EURGBP
- USDJPY chart symbol1=USDJPY & symbol2=EURJPY
Note: In case of your broker has any suffix after pair name like EURUSDm, EURUSDecn, EURUSD…, EURUSDpro please enter the same in EA symbol inputs too.