Modify Existing EA

This EA uses Z-score to determine where to enter 2 opposite trades for buy and sell for 2 different correlation currency pairs. It can be set to enter single or multiple trades from 4.5 to -4.5 Z-score level when the price moves across it. A related indicator can be attached to see the movements of the correlated pairs moving across the Z-score levels.

(Refer to Screenshot 1)

Let’s assume a single entry point is set at 2.5 and -2.5 for both currency pairs.  

The EA must be attached to the chart of the original currency pair and key in the 2nd currency pairs in the input setting called Pair2. When either 1 of the currency pair touches 2.5 or -2.5, both currency pairs would enter a Buy and a Sell at the same time.

However, after the EA enters a trade from above the Z-score level (-2.5 at the bottom) for a buy, the price sometimes went far below resulting to stop loss triggered or high floating loses. Vice versa for sell position at the top.

The EA also has options to set for closing the ongoing trade at default 0.5 and -0.5 for both correlated currency pairs. This sometimes resulted to trades prematurely closed at a lost, even when the setting adjusted to 0 (zero) for both currency pairs. This makes the setting “ CloseHighAtLevel & CloseLowAtLevel” unnecessary.

Contact me to obtain the screenshot, existing EA & indicator.

Modification:

1)To modify the EA to serve the following functions:

EA to enter a trade from below (instead of above) across the Z-score levels for a BUY position (TICK) as shown in screenshot A. The same principle applies to enter a SELL position from above (instead of below) across the Z-score levels.

2)To include, exclude & amend texts in RED