Pairs Trading MT4 Indicator – Market Formula = Forex Trader + Metatrader
Simple pairs trading indicator for Metatrader 4 named Pairs with Beta for analyzing currency pair spreads. Allows custom multipliers (beta) to be used with the two pairs being analyzed, then plots the spread in a sub window.
For instance if EURUSD and GBPUSD are the two pairs being studied, and the beta for GBPUSD is 1.4, then the following formula would be plotted:
EURUSD * 1.0 – GBPUSD * 1.4 (shown below in dodger blue).