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CorrelatePair

Advantage

The analyzer provides an opportunity to examine correlation in history, for example, for the previous month excluding the current one, thus allowing you to evaluate symbol movement in history. It can be conveniently used in conjunction with the LineSyncMirrorCharts analyzer.

Charts are synchronized by a market type: Forex, CFD, Futures, and Indices.

The analyzer calculates the distance covered by the price on a specified period in points.

The tool fits pairs and portfolio traders.

Watch the video for details.


Description

  • The indicator calculates the correlation using the Pearson equation. The correlation is calculated considering a timeframe
  • The indicator features the ability to activate an audio signal when a selected level is reached (by default, from 0.98 to 0.99). Set the finish line on the current bar and disable highlighting
  • The analyzer allows examining correlation on history on any timeframe for better assessment of the market situation
  • Full synchronization of all open charts: scrolling, timeframe, as well as display of style and candle/bar size
  • Calculation period is selected by setting vertical lines. The lines are synchronized by time on all charts


Warning

  • Attach to a single chart only!
  • The product does not work in the tester!


Settings

General Setting

  • Show Instrument - select the market type
  • Count letters NameSymbol - the number of displayed characters on the buttons
  • Sort Symbol Name - sort the symbols
  • Synchronize All Charts - synchronize all open charts (yes/no)
  • Line back in history - the number of look back bars during the first installation and timeframe switching

Setting Vertical Lines

  • Color Line Start - color of the start line
  • Color Line Finish - color of the finish line
  • Style Line - line style
  • Width Line - line thickness

Setting Text

  • Color Plus - positive value color
  • Color Minus - negative value color
  • Color Null - zero value color

Alert settings

  • Value Min - 0.98 - the minimum value to generate an Alert
  • Value Max - 0.99 - the maximum value. From 0 to 0.99 with a step of 1 (0-0.1 / 0.98-0.99 / 0.49-0.51, etc.)
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