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PipTick Correlation MT5

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 (correlation is above 80 %)
  • Negative correlation (correlation is below -80 %)
  • Weak or no correlation (correlation 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)

Outputs parameters

  • None

For more information, visit the PipTick Correlation product page.

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Version 1.1 2016.04.04
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