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Smoothed Bar to Bar Correlation - indicator for MetaTrader 4

Richard Poster
Views:
17445
Rating:
(17)
Published:
2020.04.28 00:01
Updated:
2020.05.02 21:36
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The Smoothed Correlation Indicator provides an indication of price trending and ranging through a bar to bar correlation coefficient. A indicator value approaching one is an indication of up or down trending.  An indicator value approaching 0 is an indication of price ranging.  A negative indicator value suggests whipsawing price action.

The correlation period is set by the CorrPer input and the smoothing period is set by the SmthPeriod input.



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