OPEN-SOURCE SCRIPT

Intermarket Correlation Table

Aktualisiert
The Correlation Coefficient is used to measure the correlation between two sets of data. In the trading world, the Correlation Coefficient is a measure of the correlation between two data sets of financial instruments. The correlation between two financial instruments is the degree in which they are related. Correlation is based on a scale of 1 to -1. The closer the Correlation Coefficient is to 1, the higher their positive correlation. The instruments will move up and down together. The closer the Correlation coefficient is to -1, the more they move in opposite directions. A value at 0 indicates that there is no correlation.

This indicator uses the built in ta.correlation function to calculate the correlation coefficient between DXY and NQ, ES, YM, US10Y, and ZN respectively. It then presents the data in a customizable table that is view as an overlay on your chart.
  • Adjust the length of the correlation factor to calculate higher time frame correlation.
  • Asset background changes based on current candle direction.
  • Coefficient background color changes based on whether the assets are properly correlated.

  • DXY is inversely correlated to NQ, ES, YM, and ZN.
  • DXY is directly correlated to US10Y.
  • The colors are reflected as such.
Versionshinweise
*Fixed ZN correlation color
Versionshinweise
*Added an auto HTF option that will average the next higher time frame candle from the current chart time frame.

If selected:
On m1 it analyzes 5 candles.
On m5 it analyzes 3 candles.
On m15 it analyzes 4 candles.
On H1 it analyzes 4 candles.
On H4 it analyzes 6 candles.
Versionshinweise
*Added the ability to set all assets for the table.
correlationFundamental AnalysisintermarketanalysisTrend Analysis

Open-source Skript

Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.

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