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Correlation Table of 28 Currency Pairs

This indicator indicates correlation among 28 currency pairs with each other. To use it, you have to update all timeframes of the below 28 currency pairs (from M1 to MN):

AUDUSD, AUDCAD, AUDCHF, AUDNZD, AUDJPY, EURAUD, GBPAUD,
NZDCHF, NZDCAD, NZDJPY, NZDUSD, EURNZD, USDCAD, CADCHF,
USDJPY, USDCHF, CHFJPY, CADJPY, GBPUSD, GBPNZD, GBPCAD,
GBPCHF, GBPJPY, EURGBP, EURJPY, EURCAD, EURUSD, EURCHF.


Note

  • The Correlation more than 80 between two currency pairs shows that they are quite similar in the kind of movement and side.
  • The Correlation less than minus 80 between two currency pairs shows that they are quite similar in the kind of movement but inverse in side.


Indicator Parameters

  • Calculation_Mode - If equals Range_Mode, correlation is calculated with range of the past bars (Range = high-low). If it equals Close_Mode, correlation is calculated with close of the past bars.
  • Calculation_TimeFrame - The timeframe in which you want the calculations to be done.
  • NumberOfBars - Number of bars to consider for Indicator's calculation.
  • Shift - If shift=0, the calculations are done from current bar. If Shift=1 the calculations are done from the previous bar. And as so.
  • Important_Correlation - If this option equals 80, currency pairs that have correlation with each other more than 80 are presented by green and currency pairs that have correlation less than minus 80 are presented by red.
  • Table_Color - Color of Table Lines.
  • Positive_High_Correlation_Color - Color of currency pairs that have correlation with each other more than 80.
  • Negative_High_Correlation_Color - Color of currency pairs that have correlation less than minus 80.
  • Symbols_Color - Color of symbols in row and column of table.
  • X - To displace the table in X axis.
  • Y - To displace the table in Y axis.
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