The Comprehensive Correlation Meter is designed to provide traders and investors with insights into the relationships between multiple financial instruments. This script expands upon an existing idea on TradingView about correlation by introducing the ability to analyze the correlation between three markets, offering deeper insights into market relationships. It...
Display three DACC plots simultaneously, to visualize both directional (up on top, down at bottom) and adirectional DACC (in the middle) simultaneously.
Delta Agnostic Correlation calculates a correlation between two symbols based only on the sign of their changes using a Sign Test (en.m.wikipedia.org), regardless of the amplitude of price change. Compared to a...
Calculate a sort of correlation between two symbols based only on the sign of their changes, regardless of the amplitude of price change.
When positive, the two symbols tend to move together. When negative, the symbols move in opposite directions.
Since there is no significance calculation, and that the result is binary, keep in mind that correlation will always...
Correlation coefficient is a measure of the strength of the relationship between two values. It can be useful for market analysis, cryptocurrencies, forex and much more.
Since it "describes the degree to which two series tend to deviate from their moving average values" (1), first of all you have to set the length of these moving averages. You can also retrieve...
Visually 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...
The Distance Coefficient Filter was created by John Ehlers and this is one of his more unknown moving averages. It works well because in an uptrend or downtrend it behaves more like a trailing stop system but it also deals with issues like pullbacks pretty quickly. I think it works well with the default values but let me know if you find a more profitable system....
The Hurst Coefficient was created by John Ehlers (Cycle Analytics For Traders pgs 67-68) and this is a very useful indicator to tell you if the stock is in a uptrend or downtrend. Feel free to change the length to experiment and to adjust to your needs. Buy when the indicator line is green and sell when it is red.
Let me know if there are other indicators you...
Correlation Coefficient
Core Code from: www.tradingview.com
This indicator Show Correlation between the Current Ticker & timeframe and a Customizable Ticker. After adding the indicator you can change the second ticker in the settings.
The Correlation Coeff is between -1 to 1 which 1 means 100% correlation and -1 means -100% correlation ( Inverse...
Hi everyone
A co-pinescripter friend told me this was impossible to do and we bet a free dinner tomorrow. Guess who's going to be invited to a very fancy restaurant tomorrow :) :) :) (hint: not him)
What's the today script is about?
This script is based on this MT4 correlation matrix
Asset correlation is a measure of how investments move in relation to one...
The code in contains a simple correlation indicator that can be used as an alternative to Tradingview’s built-in “Correlation Coefficient” indicator. The indicator allows users to correlate up to 3 separate instruments on the same subplot. This allows you, for example, to easily see the correlation of your instrument with stocks, bonds and FX. Alternatively, a...
This is a simple gauge of volatility using the Coefficient of Variation.
COV is calculated by dividing standard deviation of price by the expected (average) price.
Custom color scheme indicates increases and decreases in volatility, which is indicated when the COV forms new half period highs and lows.
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...
![AAPL: Ehlers Distance Coefficient Filter [CC]](https://s3.tradingview.com/l/LacHcaRi_mid.png "Ehlers Distance Coefficient Filter [CC]")
![IYR: [Vold] Beta](https://s3.tradingview.com/1/1f9Rx0ZM_mid.png "[Vold] Beta")
![AAPL: Ehlers Hurst Coefficient [CC]](https://s3.tradingview.com/i/isdHhWfF_mid.png "Ehlers Hurst Coefficient [CC]")
![XRPUSD: Coefficient of Variation [DW]](https://s3.tradingview.com/z/ZEFjwcKV_mid.png "Coefficient of Variation [DW]")
