If You Trade More Than 1 Currency
You Really Should Understand Your Risk…
This means you should know how closely the currency you are about to trade is correlated against other currencies you are already trading.
For example, lets say you are considering opening a new short EURUSD position. If you already had a long USDCHF position open it means, more often than not, you are doubling your risk.
The reason for this is that, as you probably know, most of the time EURUSD and USDCHF trade on a close to Perfect Negative Correlation (-1.00). So by opening a new short EURUSD position you would be doubling your market risk if you already had a long USDCHF position open. In addition to this, if you were to open a long EURUSD position you would in effect be taking a neutral position in the market.
With the Forex Useful MT4 Correlation indicator you drastically improve your trade and risk management. You can instantly see the current correlation of the currency you are about to trade against any 4 other currencies.
Works For ALL Currencies (& ALL Other Instruments) On ALL Time Frames
Why The MetaTrader MT4 Forex Correlation Indicator…
Designed & Used By ALL Forex Useful Authors – Always!
The MetaTrader MT4 Forex Correlation Indicator In Action…
Drastically Improve Your Trade & Risk Management
If you were to open a short EURUSD position you would be doubling your market risk if you already had a long USDCHF position open. In addition to this, if you were to open a long EURUSD position you would in effect be taking a neutral position in the market.
Frequently Asked Questions…
- Does The Indicator Work On All Charting Packages?
The Forex Useful MT4 Correlation Indicator, as the name suggests, is designed for use on the Meta Trader 4 (MT4) charting package only. So, to use the indicator you will need an account with an MT4 Broker. You then attach the indicator to your MT4 chart as you would with any other indicator
- Does The Indicator Work On MT4 Spread Bet Accounts?
Yes it does. Please note though, some MT4 Spread Bet Accounts append SB to the end of the instrument name, thus EURUSD becomes EURUSDSB. If this is the case for your broker please ensure you use this full description, EURUSDSB
- Does The Indicator Really Work For All Instruments?
Yes it does. If your MT4 Broker provides access to it, you can use it. This includes, indices, commodities, individual stocks, etc.
- Does The Indicator Really Work For All Time Frames?
Yes it does, it works for all standard time frames provided by most MT4 Brokers, Monthly, Weekly, Daily, 4 hour, 1 hour, 30 minute, 15 minute, 5 minute and 1 minute.
- Are Installation And Set Up Instructions Provided?
Yes they are. Installation is easy as it is the exact same process for any other MT4 Custom indicator. Set Up is also easy, you are provided with instructions on how to define the period, 4 instruments and their colours.
Got A Question? No Problem – Contact Us
Drastically Improve Your Trade & Risk Management Today
Get Your MetaTrader MT4 Forex Correlation Indicator Here…
£20 – Now Just £15
“Stop Taking Trades Without Knowing
The Real Risk To Your Trading Account Balance”
IMPORTANT INFORMATION: After purchase please access this product via the Forex Useful Members Area where you will be provided with instant access to a version of this indicator which shows correlation against just 1 instrument. You will also be asked to email us with your MT4 account number which we will embed into the full version and send it to you within 24 hours (usually much sooner).
We introduced this process in the best interests of protecting our products and access to them so that only those who have purchased them have access to them. We sincerely apologise for any inconvenience and hope you understand. Why should others be able to have access to something you have paid for!
What Others Have Said…
I now no longer have to manually check mataf, a great time saver–D.E.
I will never again be Long AUDUSD and NZDUSD at the same time–Simon
As a more experienced trader this makes sense, I know more about risk than I did before and also manage it better than I did before thanks to this indicator–K.R.