Introduction
Meet the latest trading robot that's making waves in the Forex market: Divergence of Correlation. Let's cut the fluff and get straight to the point. This robot promises to leverage divergence in correlated pairs to gain an edge in trading. But can it really deliver? Well, there's only one way to find out. Let's dive into how to set it up, use it effectively, and maybe even improve it.
Installation and Setup
Alright, you bought the robot. Now what? Here's a straightforward guide to get Divergence of Correlation up and running.
Step 1: Download the Robot
Download the Divergence of Correlation robot from here. Make sure you save it in a location you can easily find.
Step 2: Add to MetaTrader 5
1. Open MetaTrader 5.
2. Go to File > Open Data Folder.
3. Navigate to MQL5 > Experts.
4. Copy the robot file into the Experts folder.
5. Restart MetaTrader 5.
Step 3: Attach the Robot to a Chart
1. Open MetaTrader 5 and select the currency pair you want to trade.
2. Right-click on the chart and select Expert Advisors > Attach to Chart.
3. Select Divergence of Correlation from the list and click OK.
Step 4: Configuring Settings
1. Click on the Inputs tab.
2. Adjust parameters like the Lot Size, Take Profit, Stop Loss, and Correlation Threshold.
3. Click OK to save your settings.
Experience with Divergence of Correlation
I've used Divergence of Correlation for a bit now, and let's just say it has its moments. It generally does a decent job of identifying divergences in correlated pairs, but don't think it's a golden goose. It requires monitoring and occasional tweaking, especially in volatile markets.
The Good:
- It can identify trading opportunities you might miss.
- Automates the tedious parts of trading correlated pairs.
The Not-So-Good:
- Not perfect—false signals can and do happen.
- Needs regular monitoring and adjustments.
Feel free to leave a review. We are not aware of any reviews for this product. Invite the reader to leave a review.
Tips for Improving Performance
Want to squeeze a bit more out of Divergence of Correlation? Here are a few tips:
Tip 1: Adjust Parameters Regularly
Market conditions change, and so should your robot's settings. Don’t set it and forget it—adjust parameters like Lot Size and Stop Loss based on current market conditions.
Tip 2: Use in Conjunction with Other Indicators
Even though the robot focuses on divergence and correlation, using it with other indicators can filter out false signals. Consider adding Moving Averages or RSI to your chart.
Tip 3: Backtest Thoroughly
Before going live, backtest the robot extensively. Tweak settings based on historical performance and identify any potential issues.
Source Code of Divergence of Correlation
We have to mention that the actual source code of the Divergence of Correlation robot sold on MQL5 is unknown. However, we’ve developed a code based on its description available on MQL5.
If you have any questions about the code, feel free to ask them. Remember, this is an example code from easytradingforum.com, founded on the description of the Divergence of Correlation robot from MQL5.
Our team at EASY Trading Team doesn’t sell the Divergence of Correlation robot. We merely created a code based on its features described online.
Code:
You don't have permission to view the code content. Log in or register now.Download the Divergence of Correlation Trading Robot
If you’re convinced and want to give Divergence of Correlation a go, head over to forexroboteasy.com to download it. Start exploring its features and optimizing its settings for your trading strategy. The community is always here to help, so don’t hesitate to share your thoughts and experiences.
All set? Great. Happy trading and remember, the market doesn’t care about your feelings.