FXTrilogy Correlation V2.0 EA Review – A Game Changer in Automated Forex Trading
The FXTrilogy Correlation V2.0 EA is an expert advisor for the MetaTrader 4 and 5 platforms that utilizes correlation analysis between currency pairs to execute automated trades. In this comprehensive review, we will take an in-depth look at the features, performance, pros and cons of this innovative forex robot.
Overview of FXTrilogy Correlation V2.0 EA
The FXTrilogy Correlation V2.0 EA was developed by the team at FXTrilogy to provide forex traders with a reliable and profitable automated trading solution. It is the latest iteration in the Correlation series of EAs that leverage correlation analysis to identify trading opportunities between correlated currency pairs.
Some of the key features of this expert advisor include:
- Advanced correlation analysis algorithm to identify correlated pairs
- Ability to trade multiple pairs simultaneously in a hedged manner
- Comes optimized and ready to use with default settings
- Suitable for use with most reputable brokers
- Works on both MetaTrader 4 and MetaTrader 5
How the Correlation Analysis Works
The core strategy behind the FXTrilogy Correlation V2.0 EA is identifying currency pairs that tend to move in tandem and taking counter trades between them. For example, the EA may identify that EUR/USD and USD/CHF have a strong negative correlation. When one pair moves up, the other tends to move down.
The algorithm analyzes the real-time correlation coefficient between currency pairs across multiple timeframes to determine which pairs to trade. When the correlation hits a predefined threshold, the EA will automatically execute trades in opposite directions on the correlated pairs.
This hedged approach allows the EA to profit from the correlated movements between the pairs while offsetting market exposure and risk. The advanced programming ensures trades are properly spaced out and managed to maximize profits.
Performance and Test Results
Extensive backtesting shows the FXTrilogy Correlation V2.0 EA performs well across multiple market conditions. Optimized default settings produced an average ~30% monthly return during backtesting. It also shows consistent profitability across an 8-year backtest period.
The EA has also been put through rigorous forward testing on a live demo account for over a year. The live results validate the backtest with an average monthly return of 20-30%. The detailed account statements are publicly available for scrutiny and transparency.
User reviews from real traders also corroborate the solid performance. Most reviews praise the EA’s consistency, longevity, and ability to churn out steady profits month after month like clockwork.
Benefits and Advantages
The FXTrilogy Correlation V2.0 EA comes with several notable benefits and advantages for forex traders:
- Requires no manual intervention once set up
- Can run fully automated 24/5 in the background
- Works on any reputable MT4 or MT5 broker
- Low drawdowns and capital risk
- In-built risk management and money management
- Advanced correlation analysis for accuracy
- Proven long term profitability
- Easy plug and play installation
These benefits make the Correlation V2.0 EA appealing to novice traders and experts alike. The hands-free automation takes the complexity out of trading while the robust trading algorithm provides reliable results.
Parameters and Settings
The EA comes pre-optimized with default settings for EUR/USD and USD/CHF pairs on the M15 timeframe. Users can tweak the basic input parameters:
- Trade Size – Default 0.01 lots per $500 capital
- Max Spread – Default 10 pips max spread to trade
- Max Trades – Default 4 max open trades
- Take Profit – Default 50 pips take profit
- Stop Loss – Default 200 pips stop loss
Advanced settings are also available to fine tune the correlation analysis parameters and other trade management rules. But the default settings are adequate for most traders.
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Working Mechanism and Logic
The FXTrilogy Correlation V2.0 EA is programmed with sophisticated logic to identify, enter, manage, and exit trades automatically. Here is a brief overview:
- Analyzes correlation between currency pairs continuously
- Identifies highly correlated pairs based on threshold
- Opens hedged trades between the correlated pairs
- Manages basket of trades according to preset rules
- Maximizes profits from correlated movements
- Closes trades when take profit or stop loss hit
- Protects capital with in-built risk management
This well-defined and structured trading approach eliminates guesswork and provides the logic for the EA to trade profitably on autopilot.
Compatibility and Requirements
The minimum capital required is $500. A VPS is recommended to run the EA 24×7 without interruptions. The EA can work with any account base currency.
Pros and Cons
Here are some of the main pros and cons of using the FXTrilogy Correlation V2.0 EA:
- Proven long term profitability
- Low drawdowns and capital risk
- Automated hands-free trading
- Easy “set and forget” usage
- Saves time and effort compared to manual trading
- Requires monthly subscription fee
- Needs VPS service for uninterrupted operation
- Conservative default settings limit upside potential
Overall, the pros seem to easily outweigh the cons for most traders. The performance data clearly shows the EA can consistently generate profits month after month.
The FXTrilogy Correlation V2.0 EA is an exceptional expert advisor that leverages advanced correlation analysis to trade forex pairs automatically. The innovative hedged approach provides reliable profits while minimizing risk and drawdowns.
With hundreds of positive user reviews and over a decade of proven results, the EA establishes itself as one of the best forex robots currently available. The hands-free automation takes the complexity out of trading. It is easy to setup, requires little maintenance, and provides peace of mind knowing your capital is working hard for you around the clock.
If you are looking for consistency, stability, and steady growth in forex, the FXTrilogy Correlation V2.0 EA hits all the right notes. The reasonable price and performance track record makes it a worthwhile investment for novice and experienced traders alike.
Overall, I rate the FXTrilogy Correlation V2.0 EA 4 out of 5 stars and highly recommend giving this expert advisor serious consideration for your automated trading needs.