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Originally Posted by SIMBA
FerruFx,
Good idea,and since you asked for suggestions,I would like to suggest the following..
As you propose,the EA opens a long/short when one currency is at max level and the other is at min level,for example long EURUSD if EUR is at max,Usd is at min level..and that is ok..
My suggestion would be to add the option of correlated pairs..
ie:EUR is at min USD is at max level,then,before entering the short EURUSD position,the Ea checks that correlated pairs to EUR..namely CHF,GBP are near minimum levels/below midlevel..some if you are planning a long in GBPJPY..GBP max,Jpy min..and EUR,CHF should be near max levels/above midlevel
Regards
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I hope these sites will help
http://fxtrade.oanda.com/currencyCor...s/heatmap.html
http://www.understandmarket.com/index.php?categoryid=55
http://www.forex-arena.com/EurUsd.html
There were a good post by newdigital( with better links) about correlations but I can't find it
And this
correlation indicator from Igorad may be interesting
http://www.forex-tsd.com/46873-post34.html