The Netsrac Correlation Trader is currently found on the MQL5 marketplace, it is located under the Experts section of the site. We have also provided a link to it below. The expert advisor was created by Carsten Pflug, it was first uploaded on the 20th of May 2019, it has had a number of updates, the most recent update was on the 22nd of January 2020 and is currently at version 3.20.
Netsrac Correlation Trader is an expert advisor that can be used to trade positive and negative correlated currency pairs with hedging, it can be used with the MetaTrader 4 trading platform.
The main features of the expert advisor:
- It looks for positive and negative correlated pairs
- It shows you a signal, if the correlated pairs are not in balance
- It can “autotrade” some or all correlated pairs with your setting of time frames and signal-values (handle with care)
- It can set the correct lot size to have pip value and daily range based optimal hedge trades
- It can be your single tool to support your discretionary trading of correlations
The expert advisor can be used on any timeframe when using the signal features of the EA, the smaller timeframes will require more manual intervention than the larger timeframes, the M30 timeframe is best suited for automated trading.
The expert advisor can be purchased for $139, this will give you unlimited and limitation free access to the expert advisor. There is also the option to rent the software on a monthly basis, this will cost you $34 per month to use it this way.
There is a free demo version of the expert advisor, the developer does not think the demo version will give you much as it only works with two pairs at a time so it cannot fully function, the developer of the expert advisor suggests using the month rental rather than the demo version as it will give you a better understanding of how it will work. Having a half functioning demo isn’t really helpful or the intended purpose of a demo version.
At the time of writing, there are 8 reviews, they are all very positive and have given the expert advisor an overall rating of 5 out of 5.
“I really like correlation trading, and this EA is a great tool. The interface is well thought out and easy to use, and Carsten is quick to respond to questions and rectify problems. So far, positive results on my live account.” – A 5-star review.
“Good system, easy to use. With layouts that are easy to understand And good support, When start making profits, therefore ensuring Thanks to the development team“ – A 5-star review.
“Seems nice product. The author is great and supportive. Will re-evaluate later if needed.” – A 5-star review.
So the reviews are all looking good and positive, the developer is also replying to a lot of the comments which shows that they are actively supporting the expert advisor. Even with all of the positive reviews, be sure to download and try out the free demo version, while it may not function fully, it will at least give you an indication s to how it works and you will be able to be sure that you can get it set up and running properly before you make a purchase or a rental.
This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/38813