Advantage
The analyzer provides an opportunity to examine correlation in history, for example, for the previous month excluding the current one, thus allowing you to evaluate symbol movement in history. It can be conveniently used in conjunction with LineSyncMirrorChart analyzer.
Charts are synchronized by a market type: Forex, CFD, Futures, and Indices.
The analyzer calculates the distance covered by the price on a specified period in points.
The tool fits pairs and portfolio traders.
Description
- The indicator calculates the correlation using the Pearson equation. The correlation is calculated considering a timeframe
- The indicator features the ability to activate an audio signal when a selected level is reached (by default, from 0.98 to 0.99). Set the finish line on the current bar and disable highlighting
- The analyzer allows examining correlation on history on any timeframe for better assessment of the market situation
- Full synchronization of all open charts: scrolling, timeframe, as well as display of style and candle/bar size
- Calculation period is selected by setting vertical lines. The lines are synchronized by time on all charts
Warning
Attach to a single chart only.
Does not work in the tester.
Watch the video for details.
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