FXC iCorrelatioN Specialized For DAX vs Dow Jones

FXC iCorrelatioN MT4 Indicator (Specialized for DAX - Dow Jones)

The indicator shows the correlation soefficient between two assets. Correlations are useful because they can indicate a predictive relationship that can be exploited in practice.

The correlation coefficient shows the relationship between the two symbols. When the correlation is near 1.0, the symbols are moving togerhet in the same direction. When the correlation is near -1.0, the symbols are moving in opposite direction.

Important: You can not run test in Tester, because this is a multicurrency indicator.

Main features:

  • Multicurrency
  • Developed for DAX - Dow Jones pair
  • Based on Open or Close prices
  • Time synchronization based on M1 data
  • Buy/Sell open signals
  • PUSH notifications
  • E-mail sending
  • Pop-up alert
  • Customizeable Information panel

Tips for using:

  • It is best used for assets that usually move together to the same direction. (The indicator is specialized for DAX - Dow Jones pair.)
  • Suggested timeframes are up-to H4.
  • Always use time synchronization for the right result.
  • Stay open secondary symbol M1 chart when using Time Synchronization. Or stay open secondary symbol chart on the current timeframe at Bars Synchronization.
  • At signals, open position to the indicated direction on the primary symbol. And open reverse position on the secondary symbol.

Input parameters:

  • Secondary Symbol: Specify the secondary symbol.
  • Correlation Period: Period size of the correlation data.
  • Symbol Synchronization:
     - Bars: This procedure synchronizes the data based on candles.
     - Time: This method synchronizes the data based on M1 chart     prices.
  • Correlation Price: You can choose between Close and Open prices.
  • Scale Symbol-2 Data (ON): This function brings the secondary symbol data to the same scale with primary symbol.
  • Scale MA-Power Symbol-1 (auto: 0): Scaling primary symbol MA data fitt to the indicator window.
  • Scale MA-Power Symbol-2 (auto: 0): Scaling secondary symbol MA data fitt to the indicator window.
  • Signal Arrow (ON): Draws arrows to the chart at signals.
  • PUSH Notification (ON): Sends PUSH notifications at signals.
  • E-mail Sending (ON): Sends e-mails at signals.
  • Pop-up Window Alert (ON): Sends pop-up alerts at signals.
  • Signal Min. Correlation Turn: Sets the minimal correlation turn for signals.
  • Signal Min. MA-Difference: Sets the minimal MA-Power difference for signals.
  • Arrow Color Buy: Arrows color for Buy signals.
  • Arrow Color Sell: Arrows color for Sell signals. 
  • Arrow Size (pixel): Arrows size in pixel.
  • Arrow Shift Buy (Low + X pip): With this parameter, you can shift the price of the Buy arrows relative to the Low price.
  • Arrow Shift Sell (High + X pip): With this parameter, you can shift the price of the Sell arrows relative to the High price. 
  • Infopanel (ON): Switch Turns the information panel on or off. 
  • Infopanel Color-1: Color-1 of the information panel.
  • Infopanel Color-2: Color-2 of the information panel.
  • Infopanel Color-3: Color-3 of the information panel. 
  • Infopanel Background (ON): Turns the background of the information panel on or off.
  • Infopanel Background Color: Sets the background color of the information panel.
  • Infopanel Font Size (pixel): Font size of the information panel. Use it when Windows 'Scale and layout' requires.
  • Infopanel Row Size (pixel): Row size of the information panel.

Information Panel:

  • Correlation: Shows the current correlation coefficient. In parentheses there is the difference of the MA-Powers.
  • Period (Bars): Shows the correlation period size. In parentheses, it shows the number of bars in the chart of secondary symbol.
  • S1-US30: 'US30' is the name of the primary symbol. It shows the current Bid price. In parentheses, there is the number of bars in the current chart.
  • S2-GER30: 'GER30' is the name of the secondary symbol. It shows the current Bid price. The color of the first data has to be Lime. This shows proper operation.
  • Scale S1/S2: Scaling variables of the MA-Power data for the primary and secondary symbols.
  • Indicator(1): Shows the name of the indicator. The number in the parentheses represents the subwindow of the indicator.

Buttons:

  • There are three little buttons at the right-upper corner of the information panel.
  • RED button: It removes the indicator from the chart.
  • WHITE button: Do nothing.
  • GREEN button: It turns on or off the information panel.
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If you trade Forex, having detailed information about the currency strength and currency pairs correlation can take your trading to new heights. The correlation will help to cut your risk in half, and strength analysis will help to maximize the profits. This indicator provides a hybrid approach for selecting the most appropriate currency pairs using the strength analysis and currency pairs correlation. How to use the Currency Strength Analysis Suppose your trading strategy provides a buying opp
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Elmira Memish
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Please contact us after your purchase and we will send you the complimentary indicators to complete the system Cycle Sniper is not a holy grail but when you use it in a system which is explained in the videos, you will feel the difference. If you are not willing to focus on the charts designed with Cycle Sniper and other free tools we provide, we recommend not buying this indicator. We recommend watching the videos about the indiactor and system before purchasing. Videos, settings  and descri
Route Lines Prices
Vitalyi Belyh
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Route Lines Prices is an indicator designed for finding price directions. Its simple interface contains multiple algorithms for price behavior and future direction calculations. These algorithms include volatility calculations and price smoothing based on the timeframes used. The indicator has a single parameter for changing the " Calculating Price Values " value. The default value of 1 provides a balanced automatic calculation, which can be used without manually configuring the indicator. By m
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GoldRush Trend Arrow Signal V1.6 The GoldRush Trend Arrow Signal indicator V1.6 continues to provide precise, real-time trend analysis tailored for high-speed, short-term scalpers in XAU/USD , but it now has additional features and improved efficiency and reliability. Built specifically for the 1-minute time frame, this tool displays directional arrows for clear entry points, allowing scalpers to navigate volatile market conditions with confidence. The indicator consists of PRIMARY and SECONDARY
PZ Head and Shoulders MT4
PZ TRADING SLU
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Master head and shoulders patterns for better trading decisions A head and shoulders pattern is a chart formation that resembles a baseline with three peaks, the outside two are close in height and the middle is highest. It predicts a bullish-to-bearish trend reversal and is believed to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that a trend is nearing its end. [ Installation Guide | Update Guide | Trouble
Crystal Heikin Ashi Signals MT4
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CRYSTAL HEIKIN ASHI SIGNALS MT4 Professional Trend Detection Indicator with Smart Entry Signals See the Trend. Catch the Move. Trade with Confidence. The professional Heikin Ashi indicator built for traders who want clarity, precision, and EA-ready signal automation. WHAT IS CRYSTAL HEIKIN ASHI SIGNALS? Crystal Heikin Ashi Signals is a professional-grade MetaTrader 4 indicator that combines pure Heikin Ashi candle visualization with an advanced momentum-shift detection system. Designed for both
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The Propfolio Master Suite is the ultimate all-in-one analytical workstation for professional traders. Combining the power of the Beat The Market Maker (BTMM) methodology, Smart Money Concepts (SND/Liquidity), and Advanced Volume Profile, this suite replaces multiple different indicators with one optimized engine. Monitor up to 14 pairs simultaneously from a single chart, instantly identify market cycles, and seamlessly map institutional footprints with the click of a button. The Command Center
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Szabolcs Erdelyi
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Szabolcs Erdelyi 2020.10.28 18:17 
 

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C64
34
C64 2020.10.07 10:18 
 

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