OPEN-SOURCE SCRIPT
Mancin Bitcoin Correlation
Mancin Bitcoin Correlation
This indicator calculates the correlation coefficient between a selected asset and Bitcoin (default: BYBIT:BTCUSDT) over a specified period, and visualizes it as a line or columns with a dynamic color gradient.
Features:
Correlation values range from -1 (inverse relationship) to +1 (strong direct relationship).
Gradient fill changes intensity based on correlation strength:
Positive correlation uses the “high correlation” color.
Negative correlation uses the “low correlation” color.
Fully customizable:
Colors for positive and negative correlation.
Base transparency.
Gradient strength (sensitivity of transparency to correlation changes).
Correlation length.
Line style and color (Line or Columns).
Use cases:
Track how closely your asset moves with Bitcoin.
Spot moments when the asset starts moving in sync or diverging from BTC.
Useful for pair trading, arbitrage strategies, and assessing BTC’s market influence.
This indicator calculates the correlation coefficient between a selected asset and Bitcoin (default: BYBIT:BTCUSDT) over a specified period, and visualizes it as a line or columns with a dynamic color gradient.
Features:
Correlation values range from -1 (inverse relationship) to +1 (strong direct relationship).
Gradient fill changes intensity based on correlation strength:
Positive correlation uses the “high correlation” color.
Negative correlation uses the “low correlation” color.
Fully customizable:
Colors for positive and negative correlation.
Base transparency.
Gradient strength (sensitivity of transparency to correlation changes).
Correlation length.
Line style and color (Line or Columns).
Use cases:
Track how closely your asset moves with Bitcoin.
Spot moments when the asset starts moving in sync or diverging from BTC.
Useful for pair trading, arbitrage strategies, and assessing BTC’s market influence.
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
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。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
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。