Understanding the Cluster Expert Advisor
Have you ever wanted to pinpoint the strongest and weakest currency pairs? That’s where the Cluster Expert Advisor comes into play!
For instance, if the EUR is showing strength among the eight pairs and the JPY is the weakest, you’d be looking to buy EUR/USD while also buying USD/JPY. This strategy not only helps in making informed trades but also serves as a way to hedge your risks effectively.
To dive deeper into this strategy, I recommend checking out these insightful articles:
- Practical Application of Cluster Indicators in FOREX
- Theoretical Basis of Building Cluster Indicators for FOREX
The advisor utilizes the CCFp.mq4 indicator, which you can download and compile from the resources mentioned. I've made some minor tweaks to enhance its functionality, and I'm attaching it for your convenience below.
Check out the accompanying image from the article:
When the advisor identifies the optimal conditions, it buys XXX/USD or sells USD/XXX when that currency's line is at its peak. Conversely, it sells YYY/USD and buys USD/YYY when the YYY currency line hits its low.
Once the lines shift from their extremes, the advisor will close the current position and open a new one, using the previous bar's crossing as a trigger. This system operates seamlessly across eight currency pairs.
Key Points to Note:
- No take profit is set.
- Stop loss is defined in points and remains consistent across all currency pairs.
Final Thoughts:
This article serves as an English adaptation of the original Russian version. If you have any questions or thoughts, feel free to share them here.
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