This high-frequency trading robot implements latency arbitrage by comparing price feeds across two separate MetaTrader terminals. It requires a fast data source to serve as a reference and a slower broker where price delivery lags behind the market. The EA communicates between instances via a socket library to detect p
Trading robot · MT4
CARA Correlation EA
This MetaTrader 4 expert advisor facilitates automated trading based on asset correlations across various markets.
GitHub stars13
Forks2
Last update2 years ago31 Jul 2024
LicenceNone stated
Overview
CARA Correlation EA identifies opportunities within a predefined list of symbols, including forex pairs, cryptocurrencies, gold, and equity indices. The EA manages entries based on the relationship between these instruments, allowing for either fixed lot sizing or risk-based allocation. It utilizes multiple magic numbers to organize and track distinct trade sets. Note that the documentation is minimal and percentage-based risk management is unavailable for certain instruments like gold and equity indices.
- Multi-asset correlation trade detection
- Support for forex, indices, and crypto
- Percentage-based risk management options
- Pre-defined working pair configuration
- Organized magic number tracking
Details
Author
jblanked on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Arbitrage, Multi-strategy
Markets
Forex, Gold, Crypto, Indices
Timeframes
Any timeframe
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA files
Input parameters
Read from CARA v6.3.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
workSETTINGS | string | ======= WORKING PAIRS ====== | |
WorkingPairs | string | US30,ETHUSD,BTCUSD,USDCAD,AUDJPY,XAUUSD | Only these pairs will be detected (can't change): |
WorkingPairs2 | string | NAS100,GBPJPY,CADJPY,EURJPY,NZDJPY | Only these pairs will be detected pt.2 (can't change): |
SETTINGS | string | ======= ORDER SETTINGS ====== | |
uselotsize | bool | false | Use lot size? |
lotSize | double | 0.01 | Lot size for each correlation |
usepercentrisk | bool | true | Split same risk as manaul trade? (won't work for Nas, U30, or Gold) |
OTHER | string | ======= MAGIC NUMBER SETTINGS ====== | |
magicnumbbb | int | 480815 | Magic Number |
orderComment | string | CARA v6 | Order Comment |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone jblanked/MQL4-Currency-Pair-Correlation-Expert-Advisor from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts.
- 3Copy the filesCopy the .mq4 file into Experts.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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