Greater Currency Correlation Matrix (Forex)Other available matrixes I found have a limited number of forex symbols. Consequentially, you need to keep switching them if you want to do a proper analysis. As a result of that, I produced my own currency matrix.
Correlation studies relationships between different price charts.
High correlation may be completely random in the short term, but it may signify a fundamental relationship between the two symbols if calculated over the long term.
For example, the currency of an oil-producing country may rally along with oil, whereas the importer's currency may drop. This means that watching the oil price chart may be worth it for such pairs.
The script includes all Major and Minor pairs with the addition of Gold (XAUEUR) and two optional symbols.
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To avoid too frequent use of security(), I decided to calculate all symbol values from EUR pairs. It should improve performance and keep room for some additional symbols in the future.
Please report any bugs.
Correlation
Overlay Mini Plot(s) of Correlated Asset(s)Overlay a small plot of a correlated asset of your choosing. Shrink/expand, Set vertical and horizontal position, plot multiple mini-plots via duplicate indicators with varied settings.
Plots the last X bars of any asset; including the live candle currently painting
Useful for low time frame trading when you want to see correlated asset price movement right alongside the price movement you're watching.
Useful for quick and simple comparisons; when you don't want the clutter of split screen or multi-pane view.
Useful for backtesting.
Price scale agnostic; just plots the shape of the recent price action, with several optional labels: Asset+timeframe | Live Price | Highest price over X bars | Lowest price over X bars.
Works fine with all the assets i've tested it on.
~~User inputs~~
-number of bars to paint.
-horizontal offset: plot to right X bars or to left X bars
-vertical offset: shift up or down, shrink or expand; by using 2 'spacer' inputs
-color/transparancy of candles and price labels.
-width (pixels) of candle bodies.
-choose to display price labels or not
-choose to display asset label or not
~~Tips~~
--Add several of these indicators; changing the vertical 'Shift/Shrink' settings on each to visually separate them.
--In the above chart or EurUsd, there are three indicators =>> three mini-plots overlaid: DXY, EurGbp and GbpUsd. Using the following settings for Space Above:Space Below: DXY- 0.1:4.5 | EurGbp- 1.8:1.8 | GbpUsd- 4.5:0.1
--the more you add, the more you'll have to vertically shrink the plots
© twingall
Adaptive Supertrend w/ Floating Levels [Loxx]Adaptive Supertrend w/ Floating Levels is a Supertrend indicator made adaptive by comparing the coefficient of determination / average of the least squares. The basic concept is this: use correlation with an r-squared line to adapt the period of the indicator, thereby resulting in a more versatile Supertrend. This adaptive formula makes the Supertrend more reactive to small fluctuation in the market while still doing what it's supposed to do: track trend. In addition, floating levels are drawn above or below the Supertrend which are calculated with percentage of the highest and lowest values of the Supertrend within the last “lookback” period. These floating levels act as filter to detect / prevent false trend reversals. T
What is the Supertrend?
Supertrend indicator was created by Olivier Seban to work on different time frames. It works for futures, forex, and equities. It is used in 15 minutes, hourly, weekly, and daily charts. Based on the parameters of multiplier and period, the indicator normally uses 3 for multiplier and 7 for the ATR period as default values. Average True Range is represented by the number of days while the multiplier is the value by which the range is multiplied.
Included
-Toggle on/off bar coloring
-Toggle on/off adaptivity
-Toggle on/off fill coloring
Hashrate BTC Correlation Swing StrategyThis is a swing strategy based entirely on external data , where in this case we use BTC HASHRATE coming from Glassnode
Its made to be used with 1Day Timeframe, and can be used with all the alt coins which are correlated with BTC asset
The strategy is simple
We take the weekly hashrate data , and we make a moving average out of it.
Once we have a cross up with the current weekly hashrate with the ma one, we have a long
Once we have a cross down with the current weekly hashrate with the ma one, we have a short
We exit when we either had 3 bearcandles in a row or a bull candle for long
We exit when we either had 3 bullcandles in a row or a bear candle for short
If you have any questions let me know !
Asset CorrelationThis indicator shows correlation strength between the source asset plotted in the main chart and a user-input asset in the indicator panel. For example, if the main chart panel is displaying BTCUSD and the correlation indicator is NDX, then the correlation strength is plotted as the relationship between the two. A strong positive correlation target is set at 0.80 but can be changed. A strong negative correlation target is set at -0.80 and can also be changed.
The indicator also has an option for a plot of the ta.correlation() function for a reference line.
RSI correlation with cryptoindices [strategy version]Dear TV'ers,
Hereby the strategy script where the RSI of an altcoin can be compared to one of the selected cryptocap indices. Included are:
-total market cap
-total market cap minus bitcoin
-total market cap others
-total market cap usdt
-cix100 index
-btc dominance
-btc total cap
If the signal crosses over 1, then the altcoin is undervalued compared to the crypto index (and considered a buying signal here). If the signal crosses under 1, then the altcoin is overvalued compared to the selected crypto-index and a short signal is produced.
!!Please note that the selected timeframe for the reference pair should be a higher time of the chart in order to prevent repainting!!!
Macro EMA Correlation
This script is useful to see correlation between macroeconomic assets, displayed in different ema line shown in percentage to compare these assets on the same basis. Percentage will depend on the time frame selection. In the higher timeframe you will see higher variation and in small timeframe smaller variation.
You can select the timeframe who suit your trading style. The 1h and 4h fit well for longer trend swing trade and the lower time frame 15m, 5m, 1m are good for scalping or daily trading.
The following asset are available:
Bitcoin
Ethereum
Gold
Crypto total market cap excluding bitcoin (total2)
United state 10-year government bond (US10Y)
Usdt dominance show the concentration of usdt hold. For example, when trader are fearful they sell their crypto position to keep more usdt in their portfolio (USDT.D)
The USD/JPY pair the dollar usd versus the Japanese Yen one of the most forex traded pair.
You can clic on parameter to select the asset you want to analyse.
The main correlation observed are:
bitcoin negatively correlated with the usdt dominance.
bitcoin negatively correlated with the usd/jpy pair
bitcoin is positively correlated to eth, total2 (altcoin)
bitcoin positively correlated with gold
bitcoin is mostly negatively correlated to us10y
The basis of correlation is that positively correlated asset goes in the same direction and that the negatively correlated goes in opposite direction.
So, the idea is to use these information to see trend reversing.
Example 1: when bitcoin and usdt dominance are extended in opposite direction we look for a possible retracement toward 1% wich is the middle base.
Example 2 : when bitcoin make a move we look for ethereum and total 2 to follow
US Stock Market Sectors Overview Table [By MUQWISHI]US Market Overview Table will identify the bullish and bearish sectors of a day by tracking the SPDR sectors funds.
It's possible to add a ticker symbol for correlation compared to each sector.
Overview Indicator
Correlation of Price Spread and VolumeCorrelation between candle's price spread (length of candle of each bar) and volume.
Generally, increases in volume precede significant price movements. However, If the price is rising in an uptrend but the volume is reducing, it may show that there’s little interest in the instrument, and the price may reverse.
The closer the correlation is to 1.0, indicates the instruments will move up and down together as it is expected with volume and price spread. So the correlation Indicator aims to display when the price spread and volume is in correlation and not. Blue color represent positive correlation while orange negative correlation. The strength of the correlation is determined by the width of the bands.
SARWThis indicator aims to indicate the correlation between two assets(Current and Base), it does NOT show entries or help your chart analysis directly.
The main features of this Correlation indicator is :
Correlation type : Direct Correlation | Inverse Correlation | No Correlation
Correlation Percentage : as its name, it calculate the Correlation Percentage between Current and base assets if exist
How to use: Chose the base asset (default: bitcoin) and open any other chart to be the other -Current- asset
inputs:
Max Lookback length : how many candles will be included in the scan.
Swing intensity : How many candle should be counted to confirm a Swing, If you are confused leave it as its default.
Base Asset : The base asset to calculate the current asset correlation with.
Important Notes:
As I promised, the previous correlation indicator used each candle alone, while this one uses waves and swings.
The Current asset has more power over the base, because it compares the Base to current, but not the opposite((E.g. if you want to check if some coin have correlation with bitcoin, it's better to use bitcoin and put the other coin name in the input field)).
For any notes on the indicator to be edited, or for another indicator ideas please comment.
Anti correlation matrix 20x20Contain correlation matrix with filtering focused on not correlated pairs with blue color and with correlated negativly correlated with green color
SARCThis indicator aims to indicate the correlation between two assets(Current and Base), it does NOT show entries or help your chart analysis directly.
The main features of this Correlation indicator is :
Correlation type : Direct Correlation | Inverse Correlation | No Correlation
Correlation Percentage : as its name, it calculate the Correlation Percentage between Current and base assets if exist
Correlation Leader : If there is a correlation , it indicates which asset follows the other (Current Asset Follows Base | Base Follows Current Asset)
Correlation bars : if the box (Show Correlation Candles) on the settings was True, it will show GREEN lines above candles which have direct correlation and RED lines above candles which have inverse correlation
How to use: Chose the base asset (default: bitcoin) and open any other chart to be the other -Current- asset
inputs:
Max Lookback length : how many candles will be included in the scan.
Correlation Factor : how stronger the correlation should be to include the candle(E.g. if set to 50, if any candle correlation was less than 50 it will be ignored), If you are confused leave it as its default.
Base Asset : The base asset to calculate the current asset correlation with.
Show Correlation Candles : (True | false) explained above on the main features.
Note: this indicator uses every single candle and compare it to the base same time candle, after some time I will post another similar indicator, BUT the new one will use the whole direction of the assets instead of each candle alone, I hope one of them can help you.
For any notes on the indicator to be edited, or for another indicator ideas please comment.
BTC-CORRELATIONShows Bitcoin correlation with the selected asset. Threshold can be adjusted between 0 and 1 for adjusting the level for which color changes to orange that is diverged while blue color is correlated. The fixed 0.5 value line changes color with red Bitcoin falling and green Bitcoin rising.
Adaptive Trend Cipher loxx]Adaptive Trend Cipher
Highly experimental!
Features:
-Implements 5 different Dominant Adaptive Cycle Measures to determine optimal inputs for correlation functions. These cycle calculations include the following: **
* Ehler's Autocorrelation Dominant Cycle
* Ehler's Instantaneous Dominant Cycle
* Ehler's Band-pass Dominant Cycle
* Ehler's Hilbert Period Dominant Cycle
* Ehler's Dual Differentiator Dominant Cycle
**additional cycle measures to be added in future releases
-Uses price to time correlation with look-back periods determined by the dominant cycle measures
-Allows users to manipulate the range of Dominant Cycle inputs, also allows the user to change the size % of the the output Dominant cycle to be used to determine correlation lengths
-Bars are colored according to correlation extremes. Green bars are uptrend, Red bars are downtrend; Yellow bars are high correlation, Fuchsia bars are low correlation
Uses
-Trend cipher is a novel approach to teasing out macro trends in the market. This version is geared to be used on the daily time frame only
-Reversals at yellow and fuchsia bars when they appear, it shows price exhaustion using
Warning: This may not work on certain assets due to the high processing power required to calculate cycle dominance. This also uses a custom correlation function since the data being input intot he correlation function is not constant but variable based on cycle dominance at every bar. To correct this in most circumstances you must change the max_bars_back constant in the indicator method call
If you use parts of the code, please let me know, I would love to hear what you do with it.
Happy trading!
Delta Agnostic Correlation CoefficientVisually see how well a symbol tracks another's movements, without taking price deltas into account.
For example, a 1% move on the index and a 5% move on the target will return a DCC value of 1. An index move of 0.5% on the index and a 10% move on the target will also return a DCC value of 1. The same happens for downward moves.
The SMA value can be set to smooth the curve. A larger value creates a smoother curve.
Racer Correlation [racer8]This indicator gauges correlation between 2 markets using my own method I invented. It is far superior to the correlation coefficient in that it maintains steady correlation values, meaning less false signals regarding correlation. Yet, the indicator's calculation is very simple in fact...
It simply calculates the percentage of moves in the same direction as the other market. So if MSFT moved in the same direction as SPX 80% of the time, then the indicator would show you a value of 80. Unlike correlation coefficient, you can calculate exactly how many of MSFT's bars moved in the same direction as SPX's bars. Everytime MSFT moves in the same direction as SPX, it is included in the percentage of positively correlated moves.
Closing prices are used solely in the indicator's calculations. All indicator values represent a percentage. Also, I recommend a length of at least 100 periods.
Values between 0% and 25% indicate strong negative correlation. (bright red)
Values between 25% and 33% indicate moderate negative correlation. (red)
Values between 33% and 50% indicate weak negative correlation. (dark red)
Values between 50% and 67% indicate weak positive correlation. (dark green)
Values between 67% and 75% indicate moderate positive correlation. (green)
Values between 75% and 100% indicate strong positive correlation. (bright green)........Enjoy :)
Correlation IndexShows how often and how much the underlying security deviates from the base stock.
Indices that help in the selection of securities:
Lst10 - last 10(long factor parameter) periods average
Aver - fulltime averaged
pwr - total deviation area from base
ust - unstability (drawdown index)
cor - percent of positive bars
cross - fulltime averaged deviation
Correlation Mandate for Relational AnalysisThis indicator is engineered to make relational analysis much easier.
If you used another window for each symbol, you would have to resize them all one by one. You don't need another timescale.
There are three modes:
► Independent - selected symbol candles are colored on their own.
► Correlational - selected symbol candles are colored depending on their relation to the chart symbol. If it is correlational, 1st color is chosen (both have Close higher than Open). 2nd color will be used for the opposite.
► Anti-Correlational - the opposite of Correlational
To display my indicator, I chose USDCAD and Oil. Canada has the second-largest oil reserves in the world and naturally, they are their neighbor's supplier. If the oil price goes up, USDCAD should be tanking, unless a different major influence(s) happen to be stronger at a time.
Good luck!
Correlation Coefficient(CC) DashboardJapanese below / 日本語説明は下記
This indicator shows Correlation Coefficient(CC) in table with two other ticker symbols.
Strength of association is as per Pearson's Correlation Coefficient as follows.
+0.75 ~ +1 : Strong positive correlation
+0.5 ~ 0.75 : Moderate positive correlation
+0.25 ~ 0.5 : Weak positive correlation
0 ~ 0.25 : Neglible correlation
0 : No correlation
-0.25 ~ 0 : Neglible correlation
-0.5 ~ 0.25 : Weak negative correlation
-0.5 ~ -0.75 : Moderate negative correlation
-0.75 ~ -1 : Strong negative correlation
When you want to analyze CC with multiple assets and/or do not want to disturb sub window.
Example1 : CC between gold and U.S. 10 year government bond yield and dollar index.
It is easier to grasp with which gold has currently more association in price movement.
In the chart below, we can tell that U.S. 10 year government bond yield has stronger correlation.
Example2: CC between USDJPY and Yen crosses.
If correlation is strong, it indicates that Japanese Yen dominates the movement over the pairs.
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二つの異なるティッカーコードとの相関係数を表形式でメインチャートに表示することのできるインジケーターです。
相関の強さの評価はピアソンの相関係数の通りです。
+0.75 ~ +1 : Strong positive correlation
+0.5 ~ 0.75 : Moderate positive correlation
+0.25 ~ 0.5 : Weak positive correlation
0 ~ 0.25 : Neglible correlation
0 : No correlation
-0.25 ~ 0 : Neglible correlation
-0.5 ~ 0.25 : Weak negative correlation
-0.5 ~ -0.75 : Moderate negative correlation
-0.75 ~ -1 : Strong negative correlation
複数の資産や銘柄との相関を同時に確認したい時、オシレーター欄を増やしたくない場合にどうぞ。
例1 : ゴールドと米国債10年利回りとドルインデックスの相関を同時に把握。現在はどちらと連動して動きやすいかの目安にできる。
以下の例では、利回りとの強い逆相関が働いていることが確認できる。
例2 : ドル円とクロス円の動きの相関を確認。相関が強ければ円が主導で動いていることが推測できる。
Correlative volume sum CTEHello colleagues, How much importance do you give to the volume traded in the candles to support your investments? And if it is important, you analyze the volume of the candle in the assets or correlated pairs to be certain if it is a volume of only that broker or of several?
I would like to share and collaborate with a tool that can help to see the expanded volume, appending the accumulation of the volume traded from up to 3 brokers or exchanges.
I hope this tool is helpful and allows you to make your investments with greater security.
Many times we focus and analyze a single graph, discarding very relevant details present in the correlative graphs, such as the volume between them.
A good way to complement your strategy is to wait for a volume reaction in the historical volume candlestick zones.
I am happy to be part of this community and I hope that my presence in it will be of help, greetings to all.
MTF C Strategy A
The Pearson coefficient is a type of correlation coefficient that represents the relationship between two variables that are measured on the same interval or ratio scale. It's a measure of the strength of the association between two continuous variables.
This script allows you to choose one or more sources as a curve, if several sources are chosen, their average is taken into account in an EMA or SMA of your choice. It is possible to have the average of all the curves and to add one or more other curves for an influence on the calculated average.
Then, on the basis of this curve a correlation is calculated from 8 time ranges which give 4 curves, it is on this basis that the conditions of entries in the trade and / or exits are based with the possibility of adding an RSI condition.
For some entries, it is possible to try the symmetrically opposite condition, ie the one that is used in shorts.
To make entry short work, you must activate an exit short option.
However, exit conditions are more flexible than entry conditions because they allow the inverse entry condition used and / or to use statistical indices such as CCI / RSI / ROC / BB as exit condition independently or combined way.
It should be noted that if a condition among those chosen is executed substantially first, it will predominate over the others (same for long / short entries).
In addition, it is possible to choose a stop loss as an exit condition, however, it is not possible to combine the other exit conditions with the stoploss at the same time. Credits to adolgov for the base of the stoploss script part.
You can combine several curves, just as it is possible to combine several types of trade entries / exits.
The strategy uses 100% of equity, it has not been configured in such a way that there is an order pyramid and the closings are done on a total equity basis.
You can configure a daily session interval, a limit of the number of daily trades, a limit of drawdown.
You can add comments for each execution of an opening / closing order respectively to the direction (long or short).
Each step of the configuration has a tip, a button that must be hovered over in order to have the information relating to the configuration.
QuantAnna: Nifty VIX CorrelationNSE:NIFTY
Simple correlation indicator which oscillates around zero
Shows default correlation with NSE:IndiaVix
You can use it to check correlation with any other trading symbol or indices by simply selecting it in the settings.
Crypto swing correlation RSI and SMAThis is a crypto swing strategy, designed for long term periods and correlated pairs with crypto market total(or other coins used as correlation, however I recommend total of crypto or btc)
Its components are:
RSI with a very length
Correlation candles
SMA 9
Rules for entry:
For long : RSI is above 51 level and going higher and close of the candle is above the SMA
For short :RSI is below 49 and going lower and close of the candle is below the SMA
Rules for exit:
We exit when we encountered an opposite condition than the entry one, or based on take profit/stop loss levels.
If you have any questions let me know !
