I will post here some idea which cross my mind, and after searching the net I have found that I am not the first with this and it's called static arbitrage but I did not find enough materials for mt4. So if anybody have something please share. The main idea is to watch highly correlated pairs likemore then +90% or highly negative correlated like -90% and exploit the situation when there is not correlation to open position. So if 2 pairs are more then 90% of time in the same move and then in one moment they start to move in opposite direction we can exploit that and enter a position and wait to get correlation again back to 90% high and take our profit. I think in this way we can reduce trading risk.
I have found some indicators to help us actually see when pairs start to separate from each other :
Example EURUSD chart with overlay chart of AUDUSD and correlation indicator at the bottom.
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