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PipTick Correlation MT4

PipTick Correlation shows the actual correlation between the selected instruments. The default setting is set to 28 currency pairs, gold and silver, but the indicator can compare any other symbols.


Interpretation of the indicator

  • Positive correlation (corellation is above 80 %)
  • Negative correlation (corellation is below -80 %)
  • Weak or no correlation (corellation is between -80 and 80 %)


Main features

  • The indicator shows actual correlation between the selected instruments
  • Simple comparison of one symbol against another
  • Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1, MN)
  • Customizable parameters (Colors, Correlation Period, Symbols...)
  • Very fast calculation
  • Indicator works with prefix and suffix of symbols as well (EURUSD.m, EURUSD-pro...)
  • Available for MT4 and MT5


Input parameters

  • Correlation_Period - Period of correlation calculation
  • Color_Symbol - Color of symbols labels
  • Color_Strong_Positive_Corr - Color of strong positive correlations
  • Color_Strong_Negative_Corr - Color of strong negative correlations
  • Color_Weak_Corr - Color of weak correlations
  • Symbol_1_Name ... Symbol_30_Name - Names of symbols (pairs)
  • Output_1..8 - The output values of correlation calculation. For example Symbol_1_2 means correlation calculation of Symbol_1_Name and Symbol_2_Name

Note

In case of using iCustom function, the Output_1..8 parameters are simply numbers of symbols.

Examples:

Symbol_1_2 as output 1 will be Output_1 = 12

Symbol_7_14 as output 2 will be Output_2 = 714


Outputs parameters

  • PipTick Correlation Output 1..8 - Outputs by input parameters (Output_1..8)

For more information, visit the PipTick Correlation product page.

Reviews 1
Ikechukwu Emmanuel Okaro
908
Ikechukwu Emmanuel Okaro 2015.12.17 19:46 
 

Five stars for excellent customer service! Indicator looks very promising.

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Let us analyze what supply and demand are, and how relevant the expression "market memory" is. The screenshots show the operation of the SupDem-Pro custom indicator, it is the improved version of my previously created Shved Supply and Demand indicator. In order to create it, I gave up trading for almost 3 years and studied a lot of literature, I have not traded during this time, but only analyzed the behavior of the price in different situations. It took me quite a long time to correctly formula
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Naked Forex Kangaroo Tail
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Kangaroo Tail Indicator is a pattern recognition indicator for Forex, Stocks, Indices, Commodities, Metals, Cryptos. The Kangaroo Tail is a simple and very effective pattern to trade. The strategy that comes with the Kangaroo Tail is purely based on price action. Inputs of the indicator are : Distance: distance in pixel relative to top or bottom of candle to display the arrow symbol MaxBars: number of bars back used to calculate the indicator TradeDirection (Long/Short/LongAndShort): filter sign
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Ikechukwu Emmanuel Okaro
908
Ikechukwu Emmanuel Okaro 2015.12.17 19:46 
 

Five stars for excellent customer service! Indicator looks very promising.

Reply to review
Version 1.2 2016.05.18
Customizeable outputs added
Version 1.1 2015.12.17
Prefix, suffix bug fixed