Compare 2 charts’ price actions and trigger trades base on the info

hi,

Recently met a friend and he has this interesting idea (to me). He would compare price movement on Dow Jones & S&P 500 Charts and if Dow Jones is going up whereas S&P 500 is heading down. 

He will Short Dow Jones & Long S&P 500 hoping that the indices will be back in sync and he will make money from the strategy.

How do we do this in EA Wizard? 

Many thanks.. 🙂

You could use a moveing average..

ie.

IF

Dow < MA10

and

SP500 > MA10 

then buy Dow, sell SP500

That’s very basic, I think you would need more. Also have a look at a book called Cybernetic trading strategies (Ruggiero) – Really good read and touches on something like this. Also, the MA’s don;t necessarily need to be the same.

Hope this helps. Good luck

Wow, thanks for the tip re that book, I will have to dust it off and re read. I had completely forgotten I had it. lol

Thanks again, NoLube.

Thanks you NoLube for the book.

I tired to write a simple config but it does not work as I imagined. It does not seem to compare 2 chart’s (AUDUSD & AUDNZD). 

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Pardon the typo and also I missed out a chart screenshot

File: EA 1.png

File: EA 2.png

File: EA 3.png

File: Chart.png

In your screenshots you are using AUDUSD and NZDUSD not USDJPY.. but anywhoo, I think you want to change one of the > to < as this will tell you when 1 is below and 1 is above. Also assuming you are running this on a daily chart? I would just leave timeframe as "Current" and this gives you flexibility when using it as it will just display it on the TF chart you are on.

Thank you.. 🙂

Currently, my objective is to configure a working code to compare 2 separate charts (such as AUDUSD vs NZDUSD), as for the rules, they can come later.

I am simply putting them as

AUDUSD (D1 chart)

EMA 10 > 20  

And 

NZDUSD (D1 chart)

EMA 10 > 20

if conditions match ==> draw signal, but it does not work as i hope to. 

Do you mind attach to a working sample to this post? Thanks for the help.

Try this TJ, note that I have not tested this.. I have created some variables so you can change the EMA’s on both pairs.

Thanks for the help. 

Have run it, same outcome.. 🙁

Couldn’t you simply compare last candles. If one is green and another (diffrerent symbol) is red you enter a trade?

Check my example attached. You can apply this EA on any pair like USDCHF or EURUSD. It will compare bars with GBPUSD and enter a trade on opposite bars. It opens trade in the primary pair but you can also add an order for GBPUSD to go in the opposite direction