This indicator is based on correlation coefficient (CC). It improves upon CC by smoothing it out using an sma. The result is a much smoother and much more accurate reflection between the correlation of 2 instruments.
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1. yellow to orange 2. Area to columns
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blue - weak correlation* yellow - moderate correlation* red - strong correlation*
*Positive or negative
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Changed default settings from (3,100) to (2,500)... improves accuracy! Added indicator level lines...to improve visuals, makes it easier to see how close to the 30 level the indicator is. ;)