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Correlation Table MT5

This indicator calculates Correlation among currency pairs (Selected by user) to find the least and/or most correlated symbols in real time.

Correlation ranges from -100% to +100%, where -100% represents currencies moving in opposite directions (negative correlation) and +100%

represents currencies moving in the same direction.


Note

    The Correlation more than 80 (Adjustable) between two currency pairs, Shows that they are quite similar in the kind of movement and side.
      The Correlation less than minus 80 between two currency pairs, Shows that they are quite similar in the kind of movement but inverse in side.

        Indicator Parameters

        • Symbols 
        You can select the pairs that you need. Default is 28 currency pairs
        • Period Number of bars to consider for Indicator's calculation
          • Calculation Mode
            Range Mode The correlation will be calculated based on Ranges of the past bars (Range = High-Low)
                Close Mode  The correlation will be calculated based on Closes of the past bars
                  • Signal Type
                  Current Bar The calculations will be done based on the current candle of the pairs   
                  ConfirmedBar  The calculations will be done based on the the last closed candle of the pairs
                    • Calculation TimeFrame  The timeframe in which you want the calculations to be done
                      • High Correlation Value  If this option equals 80, The currency pairs that are correlated more than 80%, Will be shown in green color, And the currency pairs that are correlated less than minus 80%, Will be shown in red color.
                      • High Positive Color  Text Color of correlated pairs more than +80%
                      • High Negative Color Text Color of correlated pairs less than -80
                        • Low Correlation Color Text color of correlated pairs between -80% and +80%
                        • Cells Width in Pixels (0 Means Auto Calc)  Set cell's width or set it to zero to auto calculation of cells width
                        • Cells Height in Pixels (0 Means Auto Calc)  Set cell's height or set it to zero to auto calculation of cells height
                        • X  Move table in X axis
                        • Y  Move table in Y axis



                        Comentários 1
                        Devonish
                        1327
                        Devonish 2019.12.28 17:23 
                         

                        I like it, simple but effective. Thank you. 2020.02.05 - added an extra star (Now 5*) after developer included a suggestion to have ability to highlight a row. Makes it much nicer to use. Update:- Sept'20 The upgrade giving an option to Autosize the display was very welcome :)

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                        Devonish
                        1327
                        Devonish 2019.12.28 17:23 
                         

                        I like it, simple but effective. Thank you. 2020.02.05 - added an extra star (Now 5*) after developer included a suggestion to have ability to highlight a row. Makes it much nicer to use. Update:- Sept'20 The upgrade giving an option to Autosize the display was very welcome :)

                        Responder ao comentário
                        Versão 2.1 2020.08.28
                        New version checks if input assets exist in Market watch/Platform or not, And automatically add assets to Market Watch.
                        It will help for update data
                        Versão 1.9 2020.08.07
                        1. Auto Suffix detection removed, Becuase as i know, There is no automate way to detect all Prefix/Suffix in all assets in all brokers. So you can insert the whole word of asset's name now.

                        2. Dashboard design improved. You can use Auto Width/Height of cells now. If you set any of them to zero, Indicator will draw dashboard automatically based on Chart X and Y size, Otherwise it will be drawn based on input size od cells.
                        Versão 1.8 2020.05.14
                        Table improved for High Resolution Monitors
                        Versão 1.7 2020.03.21
                        1. Panel design improved
                        2. A minor bug fixed in panel
                        Versão 1.6 2020.02.05
                        1. Panel Added, So you don't need to set parameters in inputs. You will be able to set them on Panel in live.
                        I will prepare a video to show you how it works.

                        2. Now you can click on any Row, Column or Correlation value to highlight it.

                        3. Some parameters name changed.

                        4. Description updated.

                        4. Icon added to indicator

                        5. Some improvements in graphic design

                        6. Hint added to correlation values. You can hold mouse on each value to see it.