PipTick Correlation displays the current correlation between the selected instruments. The default settings are set to 28 currency pairs, gold and silver, but the indicator can compare any other symbols.

• Positive correlation (above 80%)
• Negative correlation (below -80%)
• Weak correlation/no correlation (between -80 and 80%)

• The indicator shows the current correlation between the selected symbols.
• Simple comparison of one symbol with another
• Works on all timeframes (M1, M5, M15, M30, H1, H4, D1, W1, MN)
• Customizable parameters (Colors, Correlation Period, Symbols…)
• Very fast calculations
• The indicator also works with prefixes and suffixes (EURUSD.m, EURUSD-pro…)
• Designed for MT4 and MT5

• Correlation_Period – Correlation calculation period
• Color_Symbol – Color of character labels
• Color_Strong_Positive_Corr – The color of strong positive correlations
• Color_Strong_Negative_Corr – The color of strong negative correlations
• Color_Weak_Corr – The color of weak correlations
• Symbol_1_Name … Symbol_30_Name – Character names (pairs)
• Output_1..8 – Output values of correlation calculation. For example, Symbol_1_2 means calculating the correlation of Symbol_1_Name and Symbol_2_Name

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In the case of using the iCustom function, the Output_1 parameters..8 will be just character numbers.

Examples:

Symbol_1_2 as the output value of 1 will be Output_1 = 12

Symbol_7_14 as the output value of 2 will be Output_2 = 714

• PipTick Correlation Output 1..8 – Output values by input parameters (Output_1..8)

For more information, visit the PipTick Correlation page.

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