This script is very much beta!
This is a simple script to visualize how two symbols move in relation to each other. For example if the underlying symbol is a 2x Gold ETF (meaning the ticker moves at 2x the spot price of gold---if gold goes up 3% this ticker should go up 6%) and the comparison symbol is an 2x inverse gold ETF (at gold up 3% this should move down...
Graph shows level of correlation between current source and another one and track current value of it. User can select source for comparison, graph period and number of candles for calculation, enter level of significal correlation (+-0.65 by default). Grapf contains 4 plots: Correlation - current level of correlation, Zero line , +Corr_level - minimum level of...
This is my latest attempt to show price movement differences between symbols. I want to see the buying and selling pressure... is that price movement going with the market or is it moving alone? It's VERY interesting to watch this indicator and see how things play out!
In my previous versions the arrows on the chart were too much clutter, while the single row of...
"CoCo World" helps to answer the following question... Is this stock moving alone or with other markets? No stock is an island, so it's important to see what everyone else is doing!
With limited screen real estate, I want to see as much info as possible as I'm evaluating US equities and deciding to pull the trigger to buy and sell. My "CoCo World" indicator...
Check the correlation of different assets on your preferred timeframe to find trends, patterns, new strategies or to minimize the exposure in correlated assets
Script plots correlation of chart symbol to a variety of indexes, symbols, equities. ** Original idea was to find Bitcoin correlation, which I did not. Built in correlations are: Nikie, DAX, SPY, AAPL, US Dollar, Gold, EURUSD, USDCNY, EEM, QQQ, XLK, XLF, USDJPY, EURGBP
Here we have an intramarket correlator taken as an excerpt from the L-O-L-A institutional trading system.
The plot displayed on the screen is the correlation index of the correlated security plotted against the security data series. Suggest simple line plots of contrasting colors.
When the plot is below the security price this is an indication of a strong...
Power oscillator to discern what currency's are stronger/weaker.
added option to use a smoothed source(close) for pooling the change, giving longer term directional bias, note that this causes lag in the results as MA's turn slower than price.
The Power Law Correlation Indicator is an attempt to chart when a stock/currency/futures contract goes parabolic forming a upward or downward curve that accelerates according to power laws.
I've read about power laws from Sornette Diedler ( www.marketcalls.in ). And I think the theory is a good one.
The idea behind this indicator is that it will rise to 1.0...
![EURUSD: [RS]Multiple Majors Currency Basket Power Oscillator V1](https://s3.tradingview.com/a/acRbNhH8_mid.png "[RS]Multiple Majors Currency Basket Power Oscillator V1")
![EURUSD: [RS]Multiple Majors Currency Basket Power Oscillator V0](https://s3.tradingview.com/j/JdOl7oYm_mid.png "[RS]Multiple Majors Currency Basket Power Oscillator V0")
![EURUSD: [RS]Power Correlation Oscillator (GOLD) V0](https://s3.tradingview.com/o/oNNVAWjw_mid.png "[RS]Power Correlation Oscillator (GOLD) V0")
![EURUSD: [RS]Power Correlation Oscillator (DOLLAR) V0](https://s3.tradingview.com/h/hWh8q7C4_mid.png "[RS]Power Correlation Oscillator (DOLLAR) V0")
![EURUSD: [RS]Power Correlation Oscillator (EURO) V1](https://s3.tradingview.com/b/BXfjHdlj_mid.png "[RS]Power Correlation Oscillator (EURO) V1")
![EURUSD: [RS]Power Correlation Oscillator (EURO) V0](https://s3.tradingview.com/v/vf7XJxPK_mid.png "[RS]Power Correlation Oscillator (EURO) V0")