Correlations

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Correlations

Postby Alexander.Gettinger » Fri Jan 28, 2011 11:35 pm

Indicator draw joint motion of two instruments.
First at X axis and second at Y axis.
Indicator automatically scales field of the drawing.

SC1.png


Also, the indicator calculates correlations coefficient (in right bottom corner).

Examples.
Very strong correlation between open and close prices of EUR/USD:
SC2.png


Very weak correlation between EUR/CHF and NZD/USD:
SC3.png


The indicator was revised and updated
Alexander.Gettinger
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Re: Correlations

Postby Alexander.Gettinger » Fri Jan 28, 2011 11:37 pm

Negative correlation between USD/CAD and NZD/USD:
SC4.png


Important. Range of data corresponds to chart range.

Download:
SymbolsCorrelation.lua
(10.91 KiB) Downloaded 1536 times


I shall very pleased idea on development of this indicator.
Alexander.Gettinger
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Re: Correlations

Postby antwoneeter » Wed Dec 14, 2011 5:15 pm

Great indicator. I'm curious to know why the dots line up closely in an ascending line/area when there's a strong correlation. Are the prices over time compared on the X & Y axis? Maybe I should checkout the code...
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Re: Correlations

Postby Apprentice » Mon Mar 20, 2017 7:41 am

Indicator was revised and updated.
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