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Tools
Position Sizer
Calculate risk-based position size directly in your MetaTrader platform and execute a trade in one click or a press of a button.Education
What Is Forex
Learn what Forex is and how it works from this simple explanation.Indicators
Supertrend
Download the Supertrend indicator for MT4 and MT5 to detect trend changes based on the price action.Tools
Position Size Calculator
Calculate your position size based on risk, stop-loss, account size, and the currencies involved. A simple online calculator for quick results.Correlation Indicators
Correlation indicators serve to highlight correlations between currencies, currency pairs, and other trading instruments. They rarely provide actual trading signals. Instead, they help you to assess the relative strength of the asset you are analyzing and how its price moves in comparison to that of some other asset.
You can download some custom correlation indicators below. They are completely free and their source code is available for inspection and modification. To better understand the information provided by correlation indicators, it is important to understand the fundamental side of Forex trading.
What benefits do correlation indicators provide?
- Unique vision — since correlation indicators use other assets, you get extra information that isn't derived from the price of the asset you are trading.
- No correlation indicators are provided by the MetaTrader platform out of the box. These custom correlation indicators are unique and may provide an edge over those who omit using such tools.
- With some coding knowledge you can modify these correlation indicators to match your personal requirements if by default something isn't calculated according to your needs.
- Even though correlation indicators aren't meant for signal generation, their reading can be used for signal confirmation.
