OPEN-SOURCE SCRIPT
Mancin Bitcoin Correlation
Mancin Bitcoin Correlation
This indicator calculates the correlation coefficient between a selected asset and Bitcoin (default: BYBIT:BTCUSDT) over a specified period, and visualizes it as a line or columns with a dynamic color gradient.
Features:
Correlation values range from -1 (inverse relationship) to +1 (strong direct relationship).
Gradient fill changes intensity based on correlation strength:
Positive correlation uses the “high correlation” color.
Negative correlation uses the “low correlation” color.
Fully customizable:
Colors for positive and negative correlation.
Base transparency.
Gradient strength (sensitivity of transparency to correlation changes).
Correlation length.
Line style and color (Line or Columns).
Use cases:
Track how closely your asset moves with Bitcoin.
Spot moments when the asset starts moving in sync or diverging from BTC.
Useful for pair trading, arbitrage strategies, and assessing BTC’s market influence.
This indicator calculates the correlation coefficient between a selected asset and Bitcoin (default: BYBIT:BTCUSDT) over a specified period, and visualizes it as a line or columns with a dynamic color gradient.
Features:
Correlation values range from -1 (inverse relationship) to +1 (strong direct relationship).
Gradient fill changes intensity based on correlation strength:
Positive correlation uses the “high correlation” color.
Negative correlation uses the “low correlation” color.
Fully customizable:
Colors for positive and negative correlation.
Base transparency.
Gradient strength (sensitivity of transparency to correlation changes).
Correlation length.
Line style and color (Line or Columns).
Use cases:
Track how closely your asset moves with Bitcoin.
Spot moments when the asset starts moving in sync or diverging from BTC.
Useful for pair trading, arbitrage strategies, and assessing BTC’s market influence.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。