Pair chart nrp obs
The indicator is based on pair trading (see Pair Trading in WIkipedia) methods. It is not redrawn unlike similar indicators.
Shows correlation between two selected instruments in percent for a predetermined period, and the positions of the instruments relative to each other.
Has a function for reverse display of any of the analyzed symbols - for instruments with negative correlation.
Can be drawn as a line or as a histogram.
- Symb1 - first symbol name.
- Revers1 - reverse display of the first symbol.
- Symb2 - second symbol name.
- Revers2 - reverse display of the second symbol.
- ExtPeriod- calculation period in bars.
- Pair_Line_or_Histo - show correlation chart as a line or a histogram.
- Symb_Line_or_Histo - show price charts as a line or a histogram.