The Historical Correlation tool aims to provide the historical correlation coefficients of up to 10 pairs of user-defined tickers starting from a user-defined point in time.
Users can choose to display the historical values as lines or the most recent correlation values as a heat map.
🔶 USAGE
This tool provides historical correlation coefficients, the...
Hello!
This script "Cross Correlation" calculates up to ~10,000 lag-symbol pair cross correlation values simultaneously!
Cross correlation calculation for 20 symbols simultaneously
+/- Lag Range is theoretically infinite (configurable min/max)
Practically, calculate up to 10000 lag-symbol pairs
Results can be sorted by greatest absolute difference or...
Correlation Tracker Indicator
The Correlation Tracker indicator calculates and visualizes the correlation between two symbols on a chart. It helps traders and investors understand the relationship and strength of correlation between the selected symbol and another symbol of their choice.
Indicator Features:
- Correlation Calculation: The indicator calculates...
Publishing my first indicator on TradingView. Essentially a modification of the Correlation Coefficient indicator, that displays a 2 ticker symbols' correlation coefficient vs, the chart presently loaded.. You can modify the symbols, but the default uses DXY and XAU, which have been displaying strong negative correlation.
As with the built-in CC (Correlation...
This script helps you visualize the correlation between the price of an asset and 4 moving averages of your choice. This indicator can help you identify trendy markets as well as trend-shifts.
Disclaimer
Bear in mind that there is always some lag when using Moving-Averages, hence the purpose of this indicator is as a trend identification tool rather than an...
A crypto correlation matrix or table is a tool that displays the correlation between different cryptocurrencies and other financial assets. The matrix provides an overview of the degree to which various cryptocurrencies move in tandem or independently of each other. Each cell represents the correlation between the row and column assets respectively.
The...
This is a sample PineSript code implementation using Correlation Coefficient. It uses the ta.correlation library of Pinescript and calculates the correlation based on user input length. The results are then plotted on a table. The corr value displays the actual correlation coefficient value while the Corr Status displays the interpretation of the correlation...
Hello everyone,
This indicator shows the correlation coefficients of altcoins with bitcoin in a table.
What is the correlation coefficient?
The correlation coefficient is a value that takes a value between 0 and 1 when a parity makes similar movements with the reference parity, and takes a value between 0 and -1 when it makes opposite movements.
In order to...
-Correlation Coefficient with Dynamic Average R (shows R average for the visible chart only, changes as you zoom in or out)
-Label: Vis-Avg-R = Visable Average R
-the Correlation Coefficient function for Pearson's R is taken from "BA🐷 CC" indicator by @balipour (highly recommended; more thorough treatment of R and other stats, but without the dynamic average)
-I...
Display three DACC plots simultaneously, to visualize both directional (up on top, down at bottom) and adirectional DACC (in the middle) simultaneously.
Delta Agnostic Correlation calculates a correlation between two symbols based only on the sign of their changes using a Sign Test (en.m.wikipedia.org), regardless of the amplitude of price change. Compared to a...
This indicator highlights zones with strong, weak and negative correlation. Unlike standard coefficient indicator it will help to filter out noise when analyzing dependencies between two assets.
With default input setting Correlation_Threshold=0.5:
- Zones with correlation above 0.5, will be colored in green (strong correlation)
- Zones with correlation from -0.5...
This is a non-parametric correlation statistical test, which is less sensitive to magnitude and more to direction, hence why some people call this a "concordance test".
This indicator was originally created by Alex Orekhov (everget), if you like this one, please show the original author some love:
This version is extended by tartigradia (2022) to make it more...
Shows the Pearson correlation between two symbols, including statistical significance test.
This is a fork of the original script by Balipour, with the addition of EMA that can be used instead of SMA in the Pearson correlation as an attempt to capture correlation trend changes more quickly, and conversion to pinescript v5. In the end, the EMA does not help much,...
Calculate a sort of correlation between two symbols based only on the sign of their changes, regardless of the amplitude of price change.
When positive, the two symbols tend to move together. When negative, the symbols move in opposite directions.
Since there is no significance calculation, and that the result is binary, keep in mind that correlation will always...
This is a normalized correlation coefficient that can be used with any timeframe or symbol desired (found in the indicator settings). The normalization function makes the coefficient bound between 0-1. There is a subjective threshold at 0.80 where anything below the threshold tends to be higher risk in trading as opposed to above the threshold.
Suggestions:
-...
Other available matrixes I found have a limited number of forex symbols. Consequentially, you need to keep switching them if you want to do a proper analysis. As a result of that, I produced my own currency matrix.
Correlation studies relationships between different price charts.
High correlation may be completely random in the short term, but it may signify a...
Here I bring you an array of methods to compare the swings and consistency between assets.
This indicator is excellent for swing traders and scalpers looking to maximize their profits by examining which of two closely related pairs provides greater price fluctuation during given period.
This indicator works against two assets, which are to be configured in...
Visually see how well a symbol tracks another's movements, without taking price deltas into account.
For example, a 1% move on the index and a 5% move on the target will return a DCC value of 1. An index move of 0.5% on the index and a 10% move on the target will also return a DCC value of 1. The same happens for downward moves.
The SMA value can be set to...
![EURUSD: Historical Correlation [LuxAlgo]](https://s3.tradingview.com/r/RosFZQsI_mid.png "Historical Correlation [LuxAlgo]")
![EURUSD: Cross Correlation [Kioseff Trading]](https://s3.tradingview.com/4/4iriNqgS_mid.png "Cross Correlation [Kioseff Trading]")
