Price Time Correlation Trading Model - MetaTrader 4 Expert | MT4 EA Download - MetaTrader 4 Resources
The Price-Time Correlation EA uses the value and direction of price-time correlation as the basis for trading signals. There are two trading strategies to choose from: trend and reversal. In addition, four methods for calculating correlation values are provided: Pearson, Spearman, Kendall and Fechner methods. These methods are provided in the accompanying include file and are based on the MQL5 correlation indicator developed by A. Fedsov and provided in his article "Practical Application of Correlation in Trading".
The ADX and Bollinger Bands indicator values along with the time of day are used as additional trade entry filters. Open trades can be reversed based on trade signals.
This EA uses the EURUSD chart for the first half of the year and was tested between January 2010 and July 2019.
This correlation-based trading strategy is very robust and has worked well on multiple currency pairs and longer time periods, back in 2004.
Attachment download
📎 corrtime.mq4 (65.41 KB)
📎library_correlation.mqh (20.52 KB)
Source: MQL5 #26189
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