Forums Indicator discussion Indicator Prize Correlation

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  • #12624
    Anti
    Participant

      Hi together,

      I’m looking for an indicator which calculates and returns the usual (Pearson) correlation coefficient between the indicator values (preferably the stochastic) and prize. It would be great if you could attach an indicator which does exactly that if you have one or if you could link to another source where I could find this or a similar indicator. Many thanks in advance!

      #12627
      simplex
      Moderator

        Try this one! Don’t remember where I grabbed it. Applied some minor changes to make it run under MT4 build 600+.

        I did not check the pearson correlation function in detail, but ‘somehow’ it looks reasonable.

        Have fun!

        s.

        Attachments:
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        A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)

        #12629
        simplex
        Moderator

          And for some background, refer to Chapter 14.5 over here.

          s.

          A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)

          #12631
          Anti
          Participant

            Thank you that much. Will try it!

            #12632
            pipatronic
            Participant

              Ah ha this is part of a route that I am on at the moment.

              Lowphat added some indicators on the VIDEO thread, here is a link below to the mql5 site for one of them, I hope to recode this so that you can have user input (ie gold, oil etc) and have it in a form of graph for intraday trading.

              https://www.mql5.com/ru/code/9670

              I have been doing some research into intermarket analysis and currently have been trading using my usual indicators but then adding as an extra filter correlation, by the way correlation works sometimes but not others so beware here. results were promising.

              so for example USD/CHF  usual indis plus DXY, GOLD        another   USD/CAD  usual indis pus DXY, WTI

              Currently just started reading this book

              and here is the chaps site

              http://www.mkatsanos.com/index.html

              Problem is time (lack of it !!!!!)

              Pip

               

               

              skype : pipatronic

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