How do I use it?
Never use this indicator as standalone trading signal, it should be used as confluence.
It is highly recommended to use this indicator on the 15m timeframe and above, try experimenting with the inverse feature and multipliers as well.
When the price is above the moving average this shows the bullish trend is strong.
When the price is below...
Overlay a small plot of a correlated asset of your choosing. Shrink/expand, Set vertical and horizontal position, plot multiple mini-plots via duplicate indicators with varied settings.
Plots the last X bars of any asset; including the live candle currently painting
Useful for low time frame trading when you want to see correlated asset price movement right...
Hello colleagues, How much importance do you give to the volume traded in the candles to support your investments? And if it is important, you analyze the volume of the candle in the assets or correlated pairs to be certain if it is a volume of only that broker or of several?
I would like to share and collaborate with a tool that can help to see the expanded...
Ehlers Correlation Trend Indicator CTI by Cryptorhythms
In his article “Correlation As A Trend Indicator” in issue May 2020 of TASC, author John Ehlers introduces a new trend indicator that is based on the correlation between a security’s price history and the ideal trend: a straight line. He describes methods for using the indicator to not only...
It's a pretty simple indicator that allows you to calculate the stock's correlation directly in TradingView.
You can use up to 5 symbols in this indicator. You can use any timeframe and limit date range for correlation calculation.
It's a pro indicator, you can have access to it for a small fee. Link to my PRO indicators you can find in my signature.
This script was written to calculate the correlation coefficient (Adjusted R-Squared) for one dependent and two independent variables.(3-way)
Pearson correlation method was used with exponential moving averages as the correlation calculation method.
Use your source ( i use "close" generally ) as the dependent variable.
Inspired by this article :...
This script implements a rebrushed distance-based pair trading strategy. In this strategy, normally they trade the difference between the prices of two instruments. This difference is also called spread. Here, however we’ll trade the difference between two time frames of one instrument. And that's the main trick. Common procedure consists of the following...
Correlated Market Matrix - Correlation Computer
Works with up to 7 markets simultaneously to find price divergences.
Study Forex pairs, stocks, crypto alt coins.
Find potential entries quicker.
This indicator analyzes 6 markets and one spread (or 7 and no spread) against the currently loaded instrument,
with support for complex formulas....