OPEN-SOURCE SCRIPT
Reverse Repo Correlation
Reverse Repo Correlation Indicator
This TradingView indicator calculates the correlation between the current stock's close price and the value of the Reverse Repo Rate (`RRPONTSYD`). It uses the Pearson correlation coefficient to measure the strength and direction of the relationship.
Inputs
- **Correlation Length**: The number of bars used to calculate the correlation.
- **Background Transparency**: The transparency level (0-100) for the background color indicating positive or negative correlation.
### How it works
1. The indicator retrieves the close price of the current stock and assigns it to the `stockClose` variable.
2. The **Correlation Length** input determines the number of bars used to calculate the correlation.
3. The `pearson_corr` function calculates the Pearson correlation between the `stockClose` and `rrpontsydValue` variables over the specified length.
4. The `rrpontsydValue` is retrieved using the `request.economic` function, which fetches the Reverse Repo Rate value (`RRPONTSYD`) for the "US" economic calendar.
5. The correlation value is plotted on the chart as a line, with positive correlations displayed in green and negative correlations in red.
6. The **Background Transparency** input determines the transparency level of the background color, which changes based on the correlation value. Positive correlations have a green background, while negative correlations have a red background.
Adjust the `correlationLength` and `transparency` inputs as needed.
This TradingView indicator calculates the correlation between the current stock's close price and the value of the Reverse Repo Rate (`RRPONTSYD`). It uses the Pearson correlation coefficient to measure the strength and direction of the relationship.
Inputs
- **Correlation Length**: The number of bars used to calculate the correlation.
- **Background Transparency**: The transparency level (0-100) for the background color indicating positive or negative correlation.
### How it works
1. The indicator retrieves the close price of the current stock and assigns it to the `stockClose` variable.
2. The **Correlation Length** input determines the number of bars used to calculate the correlation.
3. The `pearson_corr` function calculates the Pearson correlation between the `stockClose` and `rrpontsydValue` variables over the specified length.
4. The `rrpontsydValue` is retrieved using the `request.economic` function, which fetches the Reverse Repo Rate value (`RRPONTSYD`) for the "US" economic calendar.
5. The correlation value is plotted on the chart as a line, with positive correlations displayed in green and negative correlations in red.
6. The **Background Transparency** input determines the transparency level of the background color, which changes based on the correlation value. Positive correlations have a green background, while negative correlations have a red background.
Adjust the `correlationLength` and `transparency` inputs as needed.
开源脚本
本着真正的TradingView精神，此脚本的作者已将其开源，以便交易者可以理解和验证它。向作者致敬！您可以免费使用它，但在出版物中重复使用此代码受网站规则约束。 您可以收藏它以在图表上使用。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。