I have been looking for edges that make logical sense to me and are tolerable psychologically and I believe I have just found something that is very suitable and profitable. I got into pairs trading recently simply because I was looking for something that was market neutral and that didn't require you to decide whether a market was trending or not. Pairs trading seems to fit the bill perfectly. I'm using tradestation to chart correlated pairs (I don't quite understand everything about covariance and standard deviation yet so I just looked online for a list of pairs that are historically correlated, KO vs PEP, MAR vs HOT, etc) and I'm simply using a spread ratio indicator with bollinger bands on it. My entries are when the ratio deviates past 2 standard deviations from the 50 period mean on a 5 min chart and then exiting when it crosses back over the mean. This has tested quite well for me but it's tough to code in EasyLanguage. If there's anyone out there that knows how to code this using Data1 and Data2, hit me up, I would be more than willing to pay for something I can automate. Thanks!