Correlation Indicator - two pairs on a chart on a single line?

#1

Hello,

Does anyone know of an indicator that shows the correlation between two pairs on a chart on a single line? I would like to be able to configure the names of the pairs.

Thanks

#2

HI All traders. I vould like to find description of Mindex indicator to use with correlation trading. Thanks Gosta

#3

That shouldn’t be too hard to create, depending on how you wish to represent correlation.

In many cases it is represented as a ratio of one issue to another, and trade opportunities are derived from standard deviation from the mean over a given period of time.

Sometimes the simple difference can give useful information.

If it’s true correlation you seek (ie, the result of the correlation function) that could be represented as a simple number for a period of time or as a running trace on a chart. It depends on what you want to do with it.

#4

I like to do so but, being on the learning curve, I found out that I have a lot to learn.

Thanks to all that post now

#5

did someone find a way on how to do it, to create an indicator that shows the correlation between two pairs on a chart on a single line???