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- Highly effective and robust indicator for free
- Compare correlations between two or more instruments
- With the indicator, you can spot profitable opportunities in the market
- Useful for all currencies and timeframes
- Compatibility: MetaTrader 4
How to trade with the indicator profitably:
The core of the indicator are a situation when we see deviations and emergencies in two currencies, which should based on the principle of financial market move either exactly the same or completely differently. With this indicator you will thus see a unique opportunities in the financial market.
Currencies that should move in the same way are:
- EUR/USD and GBP/USD
- EUR/USD and NZD/USD
- USD/CHF and USD/JPY
- AUD/USD and GBP/USD
- AUD/USD and EUR/USD
Currencies that should move in the opposite way are:
- EUR/USD and USD/CHF
- GBP/USD and USD/JPY
- GBP/USD and USD/CHF
- AUD/USD and USD/CAD
- AUD/USD and USD/JPY
The main point is to spot the situations when for example the currency pairs EUR / USD and GBP / USD will move against each other.
Or for example GBP / USD and USD / JPY will move in the same way.
If such situation will happen, we have two options:
- We can speculate that the EUR / USD and GBP / USD returns to normal, i.e. that splayed scissors between these pairs will be closed again.
- If the EUR / USD goes up and GBP / USD down, it will greatly increase the EUR / GBP. Conversely, when will the EUR / USD go down and GBP / USD up, then EUR / GBP will drop heavily. So we can trade the cross currency pair.
You can read more about trading with our Correlation indicator and trading correlations in general in following blog posts:
- How to use the correlation indicator for MetaTrader 4
- Correlation in FOREX trading
- Correlation Between Commodities and Forex
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.
