Correlation Statistics Pro

Correlation Statistics Pro

Decision Three indicator in one It offers a set of tools for the study of the correlation between the instruments. Each indicator may be displayed in a separate window.

  1. Indicator The Correlation Over Time (COT) It shows the change with time correlation.
    In addition, it shows the changes in the correlation history two tools in the form of a line representing the threshold. Thus, you can take advantage of even unusual correlation changes.
  2. The Percentages Panel.
    The advanced model free version, works as an indicator and shows the percentage correlation between the instrument graphics, and all other tools, or only those that have been selected in the “glass prices.” The indicator may conceal a correlation above or below a certain threshold. In this case, the percentage of each change color and size, which allows to observe the correlation capabilities.
  3. The Secondary Chart (SC).
    And finally, last but not less important indicator. It allows you to open other tools in the same window in the form of candles.

Thus, you get three lights in a single file. You decide what type of display you want to use and select it in the properties of the indicator (LED type).

settings:

  • CompareTo: (COT, or SC) Enter the name of the tool correlation which you want to see a time chart or graph.
  • IndicatorType: Indicator that you want to use.
  • StrongCorrelationThreshold: (COT, or Panel) percentage, which defines a strong correlation.
  • Periods: (COT, or Panel) shows the time interval for counting the correlation.
  • HistoricalThresholdPeriods: (COT only) This function can be used on certain instruments in the short-term trading, if traders want to check for duplicate historical correlations. Statistical threshold is calculated on the basis of periods that you type and is portrayed as a red dotted line. It is a tool tend to be near zone a percentage correlation.
  • PanelDisplayedInstuments: (Panel Only) Indicates all or correlation, or those that are above or below a specified threshold.
  • PanelInstrumentsVisibility : (Panel Only) Displays any characters “Depth of Market“, or all the characters available on the terminal.

Dear traders, I hope you like this indicator and it will be useful to you. If you need help or if you have constructive suggestions for improvement of the indicator, please contact me through my profile page: https://www.mql5.com/en/users/fxcoder

Correlation Statistics Pro

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