The Price-Time Correlation EA leverages the relationship between price movements and time to generate actionable trade signals. This tool is perfect for traders looking to capitalize on both trends and reversals.
With two primary trading strategies—Trend and Reversal—you can tailor your approach to match your trading style. Additionally, the EA offers four distinct methods for calculating correlation values: Pearson, Spearman, Kendall, and Fechner. These methods are included in the accompanying file and are built on the MQL5 correlation indicators developed by A. Fedsov, highlighted in his insightful article, “Practical Application of Correlations in Trading.”
To enhance your trading precision, this EA utilizes the ADX and Bollinger Bands as supplementary filters for trade entries, while also considering the time of day. What's more, you can easily close an open trade whenever a reversal signal appears, keeping your strategy flexible and responsive.
Designed specifically for the H1 EURUSD chart, this EA has been rigorously tested from January 2010 through July 2019. The results speak for themselves: this correlation-based trading strategy is robust and performs exceptionally well across various currency pairs and timeframes, dating back to 2004.
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