Rank AutoCorrelation - indicator for MetaTrader 5

Rank (auto)correlation indicator that includes:

• Spearman rank correlation
• Pearson correlation

It can also use 22 types of prices, and user has a choice of using floating levels or fixed levels (for determining the over-bought and over-sold levels).

Both for Spearman and Pearson correlation the same rule applies. Correlation can range from 1 to -1 and they are usually referred to as:

• 1 is perfect positive correlation — when the changes are exactly the same
• 0 is the no correlation state
• -1 is the perfect negative correlation — when the changes are exactly the opposite