Correlation Coefficient Table

chill05 已更新   
This is a sample PineSript code implementation using Correlation Coefficient. It uses the ta.correlation library of Pinescript and calculates the correlation based on user input length. The results are then plotted on a table. The corr value displays the actual correlation coefficient value while the Corr Status displays the interpretation of the correlation coefficient values.

The script takes the following input
  • Source Symbol - This is the base symbol which will be used in calculating correlation coefficient. In my case, since i am looking more often on crypto. I defaulted it to BTCUSDT
  • Symbol 1 - Symbol 5 - These are the coins that will be compared to our base symbol for correlation.
  • Source - You can select on which price source you want to be calculated. By default this is set to candle close price.
  • Length - The number of price bar to look back and retrieve correlation coefficient. Set to 20 bars by default.
  • Table Settings - Since the correlation coefficient are displayed on a table. An option to customize the table settings are presented.

The Correlation Status column was based on this Interpretation:

For more information, read this article
  • Removed the plot function of the actual correlation coefficient value as it only adds noise to chart.

本著真正的TradingView精神,該腳本的作者將其開源發布,以便交易者可以理解和驗證它。為作者喝彩吧!您可以免費使用它,但在出版物中重複使用此代碼受網站規則的約束。 您可以收藏它以在圖表上使用。