KARAS Correlation shows correlation between two pairs. For example, lots of time EURUSD and GBPUSD have positive correlation. It means both prices have same direction. Both of them go up or go down at the same time. If some pairs have negative correlation, one of them goes up, while other goes down.
- Above 85 = strong positive correlation
- Below -85 = strong negative correlation
- Between 85 & 30 = weak positive correlation
- Between -30 & -85 = weak negative correlation
- Between 30 & -30 = no relation
Generally positive correlation:
- EURUSD - GBPUSD
- AUDUSD - NZDUSD
Generally negative correlation:
- EURUSD - USDCHF
- GBPUSD - USDCHF
- AUDUSD - USDCAD
- Available for all timeframes.
- Suitable for scalpers, swing traders, day traders, short term and long term traders.
- You may use this indicator for all instruments.
- Symbol 1
- Symbol 2
- Correlation Period: Correlation calculation period (optimized: 1000)
- Show Bar: Show last x bars