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Price Time Correlation

This indicator determine price volatility using correlation between Price and Time.

WARNING: Not suitable for 1M timeframe, you would not see any lines in this frame!

How to Use:

  • More closer the indicator's value to 0, the price is considered more volatile.
  • When reversal is started, the indicator's value would be rise or fall significantly.
  • During a strong trend, the indicator's value would be closer to 1 or -1, depends on current trend.

Entry Signal:

  • BUY SIGNAL: Indicator crosses 0.2 from below. This value can be changed, as long as it more than 0.
  • SELL SIGNAL: Indicator crosses -0.2 from above. This value can be changed, as long as it less than 0.

Input Description:

  • period: Determine how many bars used to determine price's volatility. 6 is recommended.
  • applied_price: Prices to be applied to the indicator. Use 1 of these integers to use it: 0 -> Close Price, 1 -> Open, 2 -> High, 3 -> Low, 4 -> Median, 5 -> Typical, 6 -> Weighted Typical

Dr Waleed Mahdy
Dr Waleed Mahdy 2019.01.20 09:22 

thanks for your product and share

there is good

Version 1.12 2019.02.03
Off-by-one bug fix at the most left of the chart (like in 14-period indictors, it must start at 14th bars).
Version 1.10 2019.01.22
Now you can apply High/Low prices as an input, instead of Close price only.