Correlation

$30.00

Categories: ,

Description

The correlation coefficient is one of the most important concepts in trading and most of the trading algos are built based on it.

The use cases for correlation is a lot, from managing your risk exposure and avoiding investing in directly correlated assets to building prediction models.

This indicator shows the correlation between your chart symbol and another specified symbol in a histogram, the negative and positive correlation are shown separately.

Features

  • Shows the positive/negative correlation is separate histograms
  • Using a period number for setting the amount of data
  • Being able to change the data source to open, high, low, close, and volume
  • You can use it as an autocorrelation indicator by using its lag parameter
  • It can calculate the correlation on both regular and percentage change data

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Version 4.0.0.0

Release Date: May 21, 2019

Added: Lag parameter, now you can use it for autocorrelation too

Added: Percentage change parameter

Added: Update notifier

Changed: Tweaked the code

Version 3.0.0.0

Release Date: November 3, 2018

Added: Source parameter for changing the symbols data source

Added: Period parameter

Changed: Output is shown in histogram instead of a line chart

Free Download Trial VersionDocumentation

Current Version: 4.0.0.0

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