Technical Indicators for MetaTrader 5
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MetaTrader 5
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Overview
IndCorrelationTable
Ind Correlation Table - designed to help a trader trading in the Forex market using the method based on the correlation dependence of currency pairs. The correlation dependence between two instruments is calculated through the coefficient of K. Pearson and C. Spearman. The main function of the table is to output a formalized signal about the possibility of opening a "basket" of transactions in accordance with pre-set parameters, as well as the direction of transactions in accordance with the strategy. If it is necessary to notify other devices, the signal can be duplicated via push notifications, as well as via e-mail.
Application:
- Calculation of the correlation coefficient (the conversion is carried out at the closing of the candle).
- To work in the input parameters of the indicator, the recommended threshold values have already been set.
- To increase the number of signals, you can apply a table on several timeframes simultaneously (recommended timeframes from M15 to H1).
Indicator parameters
- Symbols (1,2,3) - lists of baskets of currency pairs (restriction on the number of entered baskets in one list 17).
- TimeFrame - timeframe.
- PeriodPearson - the period value for calculating the Pearson coefficient.
- PeriodSpearmen - the period value for the Spearman coefficient calculation.
- NegativeCorrelationLevel - threshold value of negative correlation.
- AddPrice - calculation parameter.
- RsiPeriod is the period of the RSI indicator.
- DeltaRsiPearson - delta indicator RSI, threshold value for "Alerta" through Pearson's calculation.
- DeltaRsiSpearman - delta indicator RSI, threshold value for "Alerta" through Spearman's calculation.
- DeltaRsi - delta indicator RSI, threshold value for color change.
- CointegrationLevel - delta indicator Cointegration, the threshold value.
- UseAlert - output "Alerta" on the screen.
- UseSendMail - send "Alerta" to e-mail.
- UseSendNotification - sending Push notifications to mobile devices.
- TemplateName - the name of the called template with preinstalled software.
If all threshold values of one of the calculations (on a tick) are
exceeded, the basket name changes color (signal to enter the market).
When all thresholds of one of the calculations (on a closed bar) are
exceeded, a signal is input to enter the market (alert via "Alert").
PS Calling of two charts of currency pairs is carried out by hovering
over the name of the basket of currencies and pressing the left mouse
button simultaneously with the pressed "Ctrl" key. The template should
be placed in the "Files" folder.
