Here are 2 screen-prints of the latest version FXCorrelator (v 4.21).
The bottom one shows it correctly (should have been on top, sorry), but 2 steps further (using the "Step by Step" button), it goes right back to the straight line again.(The top picture)
My charts are set to default bars during this exercise f.w.i.w.
The indie draws on a total of 7 pairs for its calculations. So if you scroll back on a chart and the indie has not been 'running' there before in forward mode, the data of the other pairs it needs are probably not available. Alternatively: the indie needs some bars to calculate and the smoothing needs 'room' to stabilize.
Not 100% sure if that's the cause of the problem, but this can cause problems.
Does that make sense?
EDIT: Also see mladen's post on previous page...I missed that. Apologies. And thanks mladen for the new version. Will copy his 'fix' into v4.30 and post here later.
Here's version 4.40.
I ported mladen's changes from his version 4.21 to 4.30 and named this 4.40.
I made an error in previous code regarding the number of bars (well, not quite an error but rather a bad and unnecessary shortcut).
Mladen pointed this out, for which I thank him.
So this handles multiple pairs. For now, it's useful on these 7 pairs: EURUSD, GBPUSD, AUDUSD, USDCHF, USDJPY, NZDUSD and USDCAD.
So for now, use it to compare a certain pair to USD for instance.
Make sure that you have the same amount of bars for all symbols used in calculation (EURUSD, GBPUSD, AUDUSD, USDCHF, USDJPY, NZDUSD and USDCAD) If any of the symbols has less then some other symbol, you will get that peak (the linear weighted moving average that is used before smoothing in calculation returns that results) Once you have same amount of bars in history it will work OK (tried it now on my PC and by forcing download for all those symbols all those peaks disappeared on my charts - I had 2 extra peaks similar to yours) First one (the first in history) will not disappear due to things I was talking before.
The main problem of this indicator is that it is multi symbol indicator (even if it is not visible at a first glance) and all the data for all symbols must be in right places.
Thanks for confirming my thoughts on this.
Thanks Mladen and Snowski. I did not have all those currencies running in my MT4 . Will report back later, but I understand it better now. Appreciate your time and patience with me.
Successful day to you.
Both versions are running correctly..
Gentlemen, both versions are running correctly.
Thank you both; much appreciated.
Mladen or MrTools whomever has some spare time to convert these two indicators into showing divergence, please.
No rush, but I am keen to test them further.