This indicator is based on correlation coefficient (CC). It improves upon CC by smoothing it out using an sma. The result is a much smoother and much more accurate reflection between the correlation of 2 instruments.
הערות שחרור
⋅
1. yellow to orange 2. Area to columns
הערות שחרור
⋅
blue - weak correlation* yellow - moderate correlation* red - strong correlation*
*Positive or negative
הערות שחרור
⋅
Changed default settings from (3,100) to (2,500)... improves accuracy! Added indicator level lines...to improve visuals, makes it easier to see how close to the 30 level the indicator is. ;)