The Currency Pairs Correlation Indicator MT4 is a powerful MT4 Trading Assist tool that helps traders see how different currency pairs move relative to the active chart symbol. It’s designed to avoid conflicting trades by revealing correlations between pairs over multiple timeframes.
This indicator analyzes selected symbols against the current chart and displays correlations over:
The indicator uses a Correlation Limit (sensitivity) set at 70 by default:
High correlation means two pairs move similarly. Opening trades on both simultaneously can increase risk due to repeated exposure.
Traders can adjust:
These settings let traders control which pairs and timeframes are analyzed.
The Currency Pairs Correlation Indicator is a key tool for understanding market structure and optimizing trade decisions. Although it does not generate buy/sell signals, it helps avoid contradictory trades and manage risk more effectively.
When two pairs show strong positive correlation, simultaneous trades may increase risk. Traders can also use the Trading Finder website correlation tool alongside this MT4 indicator for additional insights.
This indicator analyzes selected symbols against the current chart and displays correlations over:
- ⏱️ 1-Hour (H1)
- 1-Day (D1)
Key Features
- Category: Trading Assist MT4 Indicators
- Platform: MetaTrader 4
- Skill Level: Beginner-friendly
- Type: Reversal Indicator ⚡
- Timeframes: Multi-timeframe ⏱️
- Trading Styles: Day Trading | Scalping ⚡ | Swing Trading
- Markets: Forex | Crypto ₿ | Stocks | Indices | Commodities ️ | Share Stocks
- Download: https://cdn.tradingfinder.com/file/512814/currency-pairs-correlation-mt4-by-tflab.zip
How It Works
The indicator uses a Correlation Limit (sensitivity) set at 70 by default:
- Above 70 → High correlation (red)
- Below 70 → Low correlation (green)
High correlation means two pairs move similarly. Opening trades on both simultaneously can increase risk due to repeated exposure.
⚙️ Customizable Settings
Traders can adjust:
- PairList1 / PairList2 / PairList3 → Currency pairs to compare with the active symbol
- Length_Calculation → Number of candles for correlation analysis
- Calculation_Interval → Time between updates
- Correlation_Limit → Threshold to detect strong correlation
These settings let traders control which pairs and timeframes are analyzed.
✅ Conclusion
The Currency Pairs Correlation Indicator is a key tool for understanding market structure and optimizing trade decisions. Although it does not generate buy/sell signals, it helps avoid contradictory trades and manage risk more effectively.
When two pairs show strong positive correlation, simultaneous trades may increase risk. Traders can also use the Trading Finder website correlation tool alongside this MT4 indicator for additional insights.
