Pearson Indicator Correlator
- Indikatoren
- Andrei Muzov
- Version: 1.0
Pearson Indicator Correlator is a custom statistical indicator that calculates the Pearson correlation coefficient between the Exponential Moving Average (EMA) and any other selected indicator — standard or custom.
The indicator helps to filter out false signals, identify movement consistency, and detect divergences between the trend and signal lines.
Used for:
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filtering signals from other indicators,
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analyzing movement consistency,
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detecting divergences between the trend and signal lines.
It outputs a value from -1 to +1, visualizing the degree of synchrony. Can be applied to any custom or standard indicator.
Instructions:
- Enter the name of the indicator you want to calculate the correlation with in the parameters.
- Be sure to specify the buffer that contains the value you want to use in the calculations. Example: To correlate with the histogram of the MACD indicator, you must specify buffer 0; for the signal line — buffer 1.
- Select the parameters (period) of the indicator buffer you want to correlate with.
- Choose the EMA period and the correlation calculation period.
