Divergence of Correlation

This is an indicator of trading instruments' correlation. It shows the difference of price values of two symbols.

The increase in price divergence and the reduction of price divergence can be seen as signals to transactions. The indicator can be used for hedge strategies.

The indicator sends Alerts and Push-notifications to the mobile app about the crossing of the moving averages of Envelopes.

The indicator has a simple setup. You need to put him in the window of the traded instrument and choose settings:

  • Correlated_Symbol - select the trading instrument, for which the difference of the correlation is to be calculated (symbol name is entered manually).
  • Reverse - switch on inverse correlation.
  • SignalSMA - select a period of the signal simple moving average.
  • Envelopes_Period - selecting the period of signal simple moving averages of Envelopes.
  • Envelopes_Deviation - percentage of moving Envelopes offset from the average value.
  • Alerts_of_crossing_Envelopes - enable notifications.


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