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Pair Trading Station MT5

4

How to use Pair Trading Station

Pair Trading Station is recommended for H1 time frame and you can use it for any currency pairs. To generate buy and sell signal, follow few steps below to apply Pair Trading Station to your MetaTrader terminal.

  • When you load Pair Trading Station on your chart, Pair Trading station will assess available historical data in your MetaTrader platforms for each currency pair. On your chart, the amount of historical data available will be displayed for each currency pair at the beginning for your information. The minimum condition for calculation of Pair trading statistics really depends on available historical data. For example, for EURUSD and GBPUSD, MetaTrader Terminal must have matching historical data to calculate pair trading statistics for these pairs. When there is not enough historical data, you can do few things. Firstly you might open charts for that currency pairs and MetaTrader may load some of historical data. Secondly you might use Historical data centre to load the historical data manually.
  • Secondly, you need to decide the correlation level for Pair Trading Station to generate trading signals. Higher correlation level will give you more accurate trading signal but you might get fewer trading signals. Based on our experience, the correlation must be greater 0.7.
  • Once you have set the amount of bars to be used in the calculation and the correlation level, it is time to ask your Pair Trading Station to go through intensive calculation to generate trading signals. Just click “Analyze Pair” button to proceed the calculation. The calculation may take from 30 seconds to several minutes. The calculation time mainly depend on two factor including amount of bars to be used and the number of currency pairs in your market watch. If you have already calculated Pair trading statistics quite lately, then you don’t have to go through the intensive calculation again because Pair Trading Station keeps the latest Pair Trading Statistics. To load the latest Pair Trading Statistics, you just need to press “Ctrl”+ J key on your keyboard.

Must Read and Follow

Keep the right amount of symbols in your market watch. Otherwise, it can overload your cpu and memory. Start with 8 important symbols first in market watch, then gradually increase the numbers as you understand the process.

Many traders are not aware of how much historical data is loaded in your charts. In default setting, normally short historical data, pre-set by your broker, is loaded on your charts. To quickly increase historical data in your charts for many currency pairs, in the history centre, you can just download H1 historical data only for fast processing. Once the pair trading statistics is calculated and saved, you don’t have to worry about if your brokers overwrite or delete your historical data because Pair Trading Station will carry on generating signals using the saved information.


Input Variable Description

  • Bars to scan for calculation: To calculate pair trading statistics, you need to specify how much historical data you are going to use in the calculation. Check the currency pairs with smallest and largest historical data to get some idea of how much historical data is available in your MetaTrader terminal. Then choose good amount of data to calculate pair trading statistics.
  • Minimum Bars to qualify for calculation: Pair Trading Station will skip calculation if currency pair have less than minimum bars
  • Minimum Factor to qualify for signal: normally signal is qualified from factor 2 as in z score of standard deviation
  • Correlation Limit to match pairs: If correlation is too low, then Pair Trading Station will skip the calculation.
  • Lines Per Column when signal is displayed: This variable will specify how many lines of signal to be displayed per column in your chart
  • Colour for Medium Strength Signal: Control colour for medium strength signal
  • Colour for High Strength Signal: Control colour for high strength signal
  • Colour for Extreme Strength Signal: Control colour for extreme strength signal
  •    


Important Note

This product is the off the shelf product in the store. Therefore, we do not take any personal modification or personal customization request. For our products, we do not provide any code library or any support for your coding.


Reviews 1
Maxwell Onyolu
233
Maxwell Onyolu 2020.04.14 11:36 
 

You can tell that so much work has gone into building the product, so far its a massive secondary confirmation tool for my trading decisions!

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Introduction to X3 Chart Pattern Scanner X3 Cherart Pattern Scanner is the non-repainting and non-lagging indicator detecting X3 chart patterns including Harmonic pattern, Elliott Wave pattern, X3 patterns, and Japanese Candlestick patterns. Historical patterns match with signal patterns. Hence, you can readily develop the solid trading strategy in your chart. More importantly, this superb pattern scanner can detect the optimal pattern of its kind. In addition, you can switch on and off individu
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Introduction to Fractal Pattern Scanner Fractal Indicator refers to the technical indicator that makes use of the fractal geometry found in the financial market. Fractal Pattern Scanner is the advanced Fractal Indicator that brings the latest trading technology after the extensive research and development work in the fractal geometry in the financial market. The most important feature in Fractal Pattern Scanner is the ability to measure the turning point probability as well as the trend probabil
Ace Supply Demand Zone Indicator The concept of supply demand relies on the quantity mismatching between buying and selling volumes in the financial market. Supply and demand zone can provide the good entry and exit. A zone is easier to trade than a line. The supply demand zone can provide the detailed trading plan and the risk management. Its ability to predict market direction is high. There are two distinctive points about Ace Supply Demand Zone Indicator. Ace Supply Demand Zone indicator was
Introduction to Sideways Market Analyzer Notable period of Low volatility and non-trending movements in the financial market is considered as Sideways Market. Sooner or later, the low volatility will increase and the price will pick up a trend after Sideways Market. In terms of trading point of view, Sideways Market can serve as the very good entry timing for traders. Sideways Market is also quite often the representation of accumulation of large orders from big investors. Therefore, knowing the
Introduction Harmonic Patterns are best used to predict potential turning point. Traditionally, Harmonic Pattern was identified manually connecting peaks and troughs points in the chart. Manual harmonic pattern detection is painfully tedious and not suitable for everyone. You are often exposed under subjective pattern identification with manual pattern detection. To avoid these limitations, Harmonic Pattern Plus was designed to automate your harmonic pattern detection process. The functionality
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Peak Trough Analysis is the great tool to detect peaks and troughs in your chart. Peak Trough Analysis tool can use three different peaks and troughs detection algorithm. The three algorithm include the orignal Fractals Indicator by Bill Williams, the Modified Fractals indicator and ZigZag indicator. You can use this peak and trough analysis tool to detect the price pattern made up from Equilibrium Fractal-Wave process. For further usage, there are good guide line on how to use this peak trough
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Introduction to Double Harmonic Volatility Indicator Use of the Fibonacci analysis for financial trading can nearly go back to 85 years from today since the birth of Elliott Wave Theory by R. N. Elliott. Until now, traders use the Fibonacci analysis to identify the patterns in the price series. Yet, we could not find any one attempted to use Fibonacci analysis for the Volatility. Harmonic Volatility Indicator was the first technical analysis applying the Fibonacci analysis to the financial Volat
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Mean Reversion Supply Demand Indicator Mean Reversion Supply Demand is the indicator to detect the important supply demand zone in your chart. The concept of supply demand trading relies on the quantity mismatching between buying and selling volumes in the financial market. Typically, supply demand zone serves to predict the turning point. The wave pattern, for any supply demand zone to work as an successful trade, looks like the price must touch the base zone, move away and then return to zone
Introduction To Time Box Indicator Time Box Indicator is a must have indicator for any trader. It will display daily, weekly and Monthly box according to your preferences. Yet, you can extend any important price levels in your chart automatically. You can use them as the significant support and resistance levels. It is very simple but effective tool for your trading. Graphic Setting Use White Chart Line Style for Current Open price Daily Setting Update Timeframe for daily box Number of days
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Peak Trough Analysis is the great tool to detect peaks and troughs in your chart. Peak Trough Analysis tool can use three different peaks and troughs detection algorithm. The three algorithm include the orignal Fractals Indicator by Bill Williams, the Modified Fractals indicator and ZigZag indicator. You can use this peak and trough analysis tool to detect the price pattern made up from Equilibrium Fractal-Wave process. For further usage, there are good guide line on how to use this peak trough
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Introduction Harmonic Patterns are best used to predict potential turning point. Traditionally, Harmonic Pattern was identified manually connecting peaks and troughs points in the chart. Manual harmonic pattern detection is painfully tedious and not suitable for everyone. You are often exposed under subjective pattern identification with manual pattern detection. To avoid these limitations, Harmonic Pattern Plus was designed to automate your harmonic pattern detection process. The functionality
Auto Chart Alert MT5
Young Ho Seo
3.17 (6)
Introduction Auto Chart Alert is a convenient tool to set alert for your trading in your chart. With Auto Chart Alert, you can set the alert line in one click in your desired location in your chart. You can even set alert over the sloped lines in your chart. Auto Chart Alert is a great tool when you have to watch out importnat support and resistance levels for your trading. You can receive the sound alert, email and push notification when the price hit the alert line at you desired location. A
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Introduction to Order Risk Management EA ORM EA is specially designed for fast and accurate market order execution to be used with our Price Action and Econometric Trading strategies listed below. ORM EA is fully automatic and ORM EA is also very easy to use. ORM EA is totally free of charge. You can also use this robust order execution feature of this ORM EA for any other your own trading strategy. Trading Strategy Guide Order Risk Management EA provides the guide for the risk management for
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Introduction to Sideways Market Analyzer Notable period of Low volatility and non-trending movements in the financial market is considered as Sideways Market. Sooner or later, the low volatility will increase and the price will pick up a trend after Sideways Market. In terms of trading point of view, Sideways Market can serve as the very good entry timing for traders. Sideways Market is also quite often the representation of accumulation of large orders from big investors. Therefore, knowing the
Introduction to Fibonacci Volatility Indicator Volatility indicator can help you to detect any statistical advantage for your trading. Especially, if you are trading with Price Action and Price Patterns, then we recommend to use the Volatility indicator together with your strategy. Especically, Fibonacci Volatility indicator combines the market volatiltiy with Fibonacci Analysis to provide you more advanced volatiltiy indicator. Main Features Fibonacci Volatility in Z score Configuration Mode Fi
Introduction To Time Box Indicator Time Box Indicator is a must have indicator for any trader. It will display daily, weekly and Monthly box according to your preferences. Yet, you can extend any important price levels in your chart automatically. You can use them as the significant support and resistance levels. It is very simple but effective tool for your trading. Graphic Setting Use White Chart Line Style for Current Open price Daily Setting Update Timeframe for daily box Number of days
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Introduction to GARCH Indicator GARCH is the short initial for Generalized Autoregressive Conditional Heteroskedasticity and it is the volatility prediction model commonly used in financial industry. GARCH model was first appeared in the work by Danish Economist, Tim Peter Bollerslev in 1986. The 2003 Nobel Prize winner, Robert F Engle also added much contribution for the refinement of GARCH model with Tim’s work. Our GARCH INM predictor took the original method of Nelder Mead for GARCH model bu
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Introduction to GARCH Indicator GARCH is the short initial for Generalized Autoregressive Conditional Heteroskedasticity and it is the volatility prediction model commonly used in financial industry. GARCH model was first appeared in the work by Danish Economist, Tim Peter Bollerslev in 1986. The 2003 Nobel Prize winner, Robert F Engle also added much contribution for the refinement of GARCH model with Tim’s work. Our GARCH INM predictor took the original method of Nelder Mead for GARCH model bu
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Introduction to Fractal Moving Average Fractal Moving Average indicator was designed as part of Fractal Pattern Scanner. Inside Fractal Pattern Scanner, Fractal Moving Average Indicator was implemented as multiple of chart objects. With over thousands of chart object, we find that it was not the best and efficient ways to operate the indicator. It was computationally too heavy for the indicator. Hence, we decide to implement the indicator version of Fractal Moving Average indicator to benefit
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Introduction to Order Risk Management EA ORM EA is specially designed for fast and accurate market order execution to be used with our Price Action and Econometric Trading strategies listed below. ORM EA is fully automatic and ORM EA is also very easy to use. ORM EA is totally free of charge. You can also use this robust order execution feature of this ORM EA for any other your own trading strategy. Trading Strategy Guide Order Risk Management EA provides the guide for the risk management for
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Introduction Auto Chart Alert is a convenient tool to set alert for your trading in your chart. With Auto Chart Alert, you can set the alert line in one click in your desired location in your chart. You can even set alert over the sloped lines in your chart. Auto Chart Alert is a great tool when you have to watch out importnat support and resistance levels for your trading. You can receive the sound alert, email and push notification when the price hit the alert line at you desired location. A
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Elliott Wave Trend was designed for the scientific wave counting. This tool focuses to get rid of the vagueness of the classic Elliott Wave Counting using the guideline from the template and pattern approach. In doing so, firstly Elliott Wave Trend offers the template for your wave counting. Secondly, it offers Wave Structural Score to assist to identify accurate wave formation. It offers both impulse wave Structural Score and corrective wave Structure Score. Structural Score is the rating to sh
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Maxwell Onyolu
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Maxwell Onyolu 2020.04.14 11:36 
 

You can tell that so much work has gone into building the product, so far its a massive secondary confirmation tool for my trading decisions!

Reply to review
Version 7.2 2021.10.13
In version 7.2, Pairs Trading Station include Buy Asset and Sell Asset in the Potential Entry Alert. I have also enabled to set the Entry Alert Limit as low as 3.0 in input setting. But still, when you are new to pairs trading, try to use the extreme spread for potential entry, which is over 3.5 in case of Forex and over 4.0 in case of Stock market.
Version 7.1 2020.12.15
In version 7.1, we made a minor update on its statistical calculation algorithm inside Pairs Trading Station. There is no change in terms of the functionality. However, we still recommend you to use this latset version of Pairs Trading Station because the algorithm is improved in version 7.1.
Version 7.0 2019.01.07
In Version 7.0, Simple Moving Average Line was added to help your market timing better.
Version 6.7 2018.11.07
In Version 6.7, we have added cool text "Computing Matrix". Enjoy this powerful tool for your trading and investment.
Version 6.6 2018.11.01
In version 6.6, you can reload data length by clicking Spread button. Click Spread button when the data length in your market watch is not loaded fully.
Version 6.5 2018.08.27
In Version 6.5, you can run Pair Trading Station with our provided Analytical Suite together (i.e. Window App).
Version 6.2 2017.07.27
In version 6.2, user can set the location of display panel.
Version 6.1 2017.06.22
In Version 6.1, Pair Trading Station can send you alert. Following six variables are added.

Entry Alert Limit (must be greater than 3.5): User specified Entry limit
Exit Alert Limit (must be smaller than 1.0): User specified Exit limit
Aert Interval in Minutes: 60 minutes is default
Use Sound Alert: switch on and off sound alert
Use Email Alert: switch on and off email alert
Use Push notification alert: switch on and off push notification