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Forecasting

Cycles AnalysisI strongly believe in cycles, so I wanted to create something that would give a visual representation of bull/bear markets and give a prediction based on the previous data. It's up to you how to decide what is a bull/bear cycle. There is no single rule for all assets because 20% drop in SP500 starts a bear market in traditional markets, while 35% drop for Bitcoin is a Tuesday. You have two options on how to decide when markets turn: either by a % change (traditional definition) or if there is no new high/low after X days. A softer version to show periods of no new highs/lows is to use the Stagnation option. Stagnation periods hava the same logic as the cycle change by X days: if there is no new high/low then we treat this period as a stagnation. The difference is that stagnation periods do not change cycle directions and do not participate in calculations. The script also draws a possible "predictions" zone where the current cycle might end up. There is no magic here, it just takes previous cycles' size to draw the possible boundaries. If you decide to use percentiles then the box area will be taken from the percentiles calculations, otherwise it will come from the full data. "x" in the predictions zone represents a target mean (average) value, "o" represents a target median value. A few things to keep in mind: - this script is not supposed to be used in trading. It was created for analysis. It repaints. And when I say "it repaints" - it might like repaint the last 6 months of data if a new low comes and we are in a stagnation period (aka not a financial advice). - it doesn't work with replays as it does calculations only once on the last candle. - you need at least 3 periods to be able to calculate percentiles. And after this it will remove at least 1 period on each side. Which means that 90 percentile will not be a real 90 percentile until you have enough periods for it to be (20 in this specific case). - it assumes that a year = 360 days, and a month = 30 days. So the duration presentation might not be exact, until you move to the day level. - I had macro analysis in mind when I created the script, but nothing stops you from using it in a 1m time frame for BTC. Just change the time duration presentation. - the last period is not finished, so it doesn't participate in calculations.
Pine Script®指標
由Intetics提供
25
K's Pivot PointsPivot points are a popular technical analysis tool used by traders to identify potential levels of support and resistance in a given timeframe. Pivot points are derived from previous price action and are used to estimate potential price levels where an asset may experience a reversal, breakout, or significant price movement. The calculation of pivot points involves a simple formula that takes into account the high, low, and close prices from the previous trading session or a specific period. The most commonly used pivot point calculation method is the "Standard" or "Classic" method. Here's the formula: Pivot Point (P) = (High + Low + Close) / 3 In addition to the pivot point itself, several support and resistance levels are calculated based on the pivot point value. K's Pivot Points try to enhance them by incorporating multiple elements and by applying a re-integration strategy to validate two events: * Found_Support: This event represents a basing market that is bound to recover or at least shape a bounce. * Found_Resistance: This event represents a toppish market that is bound to consolidate or at least shape a pause. K's Pivot Points are calculated following these steps: 1. Calculate the highest of highs for the previous 24 periods (preferably hours). 2. Calculate the lowest of lows for the previous 24 periods (preferably hours). 3. Calculate a 24-period (preferably hours) moving average of the close price. 4. Calculate K's Pivot Point as the average between the three previous step. 5. To find the support, use this formula: Support = (Lowest K's pivot point of the last 12 periods * 2) - Step 1 6. To find the resistance, use this formula: Resistance = (Highest K's pivot point of the last 12 periods * 2) - Step 2 The re-integration strategy to find support and resistance areas is as follows: * A support has been found if the market breaks the support and shapes a close above it afterwards. * A resistance has been found if the market surpasses the resistance and shapes a close below it afterwards. The lookback period (whether 24 and 12) can be modified but the default versions work well.
Pine Script®指標
由Sofien-Kaabar提供
5
ATR profit and loss linesWhat is ATR? Taking a candlestick, the following 3 transactions are calculated: 1-The difference between the high of the day and the low of the day 2-The difference between today's high and yesterday's close 3-The difference between today's low and yesterday's close Atr takes the average of these 14-day candlesticks after making their calculations and it predicts how high or low a candle can go and these give us support and resistance helps with points If you have noticed a rise in your chart and have no idea how high it will go, you can use Atr profit and loss lines. The red zone is the stop point, the blue zones are the snow zones. Must be used with macd. macd is validator. There is an increase in your chart, you opened the atr profit and loss lines upwards and if macd gives you an increase, it is recommended that you enter the trade at that time. It is recommended to increase your loss line 1 step in the direction of profit every 2 profit breaks on atr profit and loss lines. ATR Nedir? Bir mum barı ele alınarak şu 3 işlem hesaplanır: 1-Günün yükseği ile günün düşüğü farkı 2-Günün yükseği ile dünün kapanışının farkı 3-Günün düşüğü ile dünkü kapanışın farkı ATR ise 14 günlük bu mum barlarının hesaplarını yaptıktan sonra ortalamasını alır ve bir mumum ne kadar yükselip düşebileceği konusunda tahmin verir ve bunlar bize destek ve direnç noktaları konusunda yardımcı olur Eğer grafiğinizde bir yükseliş farketmişseniz ne kadar yükseleceği konusunda fikriniz yoksa Atr kar zarar çizgilerini kullanabilirsiniz. Kırmızı bölge durdurma noktası,mavi bölgeler kar bölgeleridir. Macd ile birlikte kullanılmalıdır.macd doğrulayıcıdır. Grafiğinizde yükseliş var,atr kar zarar çizgilerini yukarı yönlü açtınız ve macd size yükseliş veriyorsa işte o sırada işleme girmeniz tavsiye edilir.atr kar zarar çizgilerinde her 2 kar kırılımında bir zarar çizginizi kar yönünde 1 kademe arttırmanız önerilir
Pine Script®指標
由yatirim_tavsiyesi_degildirrr提供
2
Bitcoin Limited Growth ModelThe Bitcoin Limeted Growth is a model proposed by QuantMario that offers an alternative approach to estimating Bitcoin's price based on the Stock-to-Flow (S2F) ratio. This model takes into account the limitations of the traditional S2F model and introduces refinements to enhance its analysis. The S2F model is commonly used to analyze Bitcoin's price by considering the scarcity of the asset, measured by the stock (existing supply) relative to the flow (new supply). However, the LGS-S2F Bitcoin Price Formula recognizes the need for improvements and presents an updated perspective on Bitcoin's price dynamics. Invalidation of the Normal S2F Model: The normal S2F model has faced criticisms and challenges. One of the limitations is its assumption of a linear relationship between the S2F ratio and Bitcoin's price, overlooking potential nonlinearities and other market dynamics. Additionally, the normal S2F model does not account for external influences, such as market sentiment, regulatory developments, and technological advancements, which can significantly impact Bitcoin's price. Addressing the Issues: The LGS-S2F Bitcoin Price Formula introduces refinements to address the limitations of the traditional S2F model. These refinements aim to provide a more comprehensive analysis of Bitcoin's price dynamics: Nonlinearity: The LGS-S2F model recognizes that the relationship between the S2F ratio and Bitcoin's price may not be linear. It incorporates a logistic growth function that considers the diminishing returns of scarcity and the saturation of market demand. Data Analysis: The LGS-S2F model employs statistical analysis and data-driven techniques to validate its predictions. It leverages historical data and econometric modeling to support its analysis of Bitcoin's price. Utility: The LGS-S2F Bitcoin Price Formula offers insights for traders and investors in the cryptocurrency market. By incorporating a more refined approach to analyzing Bitcoin's price, this model provides an alternative perspective. It allows market participants to consider various factors beyond the S2F ratio alone, potentially aiding in their decision-making processes. Key Features: Adjustable Coefficients Sigma calculation methods: Normal or Stdev Credit: The LGS-S2F Bitcoin Price Formula was developed by QuantMario, who has contributed to the field of cryptocurrency analysis through their research and modeling efforts.
Pine Script®指標
由EliCobra提供
2
FalconRed 5 EMA Indicator (Powerofstocks)Improved version: This indicator is based on Subhashish Pani's "Power of Stocks" 5 EMA Strategy, which aims to identify potential buying and selling opportunities in the market. The indicator plots the 5 EMA (Exponential Moving Average) and generates Buy/Sell signals with corresponding Target and Stoploss levels. Subhashish Pani's 5 EMA Strategy is a straightforward approach. For intraday trading, a 5-minute timeframe is recommended for selling. In this strategy, you can choose to sell futures, sell calls, or buy puts as part of your selling strategy. The goal is to capture market tops by selling at the peak, anticipating a reversal for profitable trades. Although this strategy may result in frequent stop losses, they are typically small, while the minimum target should be at least three times the risk taken. By staying aligned with the trend, significant profits can be achieved. Subhashish Pani claims that this strategy has a 60% success rate. Strategy for Selling (Short Future/Call/Stock or Buy Put): 1. When a candle completely closes above the 5 EMA (with no part of the candle touching the 5 EMA), it is considered an Alert Candle. 2. If the next candle is also entirely above the 5 EMA and does not break the low of the previous Alert Candle, ignore the previous Alert Candle and consider the new candle as the new Alert Candle. 3. Continue shifting the Alert Candle in this manner. However, when the next candle breaks the low of the Alert Candle, take a short trade (e.g., short futures, calls, stocks, or buy puts). 4. Set the stop loss above the high of the Alert Candle, and the minimum target should be 1:3 (at least three times the stop loss). Strategy for Buying (Buy Future/Call/Stock or Sell Put): 1. When a candle completely closes below the 5 EMA (with no part of the candle touching the 5 EMA), it is considered an Alert Candle. 2. If the next candle is also entirely below the 5 EMA and does not break the high of the previous Alert Candle, ignore the previous Alert Candle and consider the new candle as the new Alert Candle. 3. Continue shifting the Alert Candle in this manner. However, when the next candle breaks the high of the Alert Candle, take a long trade (e.g., buy futures, calls, stocks, or sell puts). 4. Set the stop loss below the low of the Alert Candle, and the minimum target should be 1:3 (at least three times the stop loss). Buy/Sell with Additional Conditions: An additional condition is added to the buying/selling strategy: 1. Check if the closing price of the current candle is lower than the closing price of the Alert Candle for selling, or higher than the closing price of the Alert Candle for buying. - This condition aims to filter out false moves, potentially preventing entering trades based on temporary fluctuations. However, it may cause you to miss out on significant moves, as you will enter trades after the candle closes, rather than at the breakout point. Note: According to Subhashish Pani, the recommended timeframe for intraday buying is 15 minutes. However, this strategy can also be applied to positional/swing trading. If used on a monthly timeframe, it can be beneficial for long-term investing as well. The rules remain the same for all types of trades and timeframes. If you need a deeper understanding of this strategy, you can search for "Subhashish Pani's (Power of Stocks) 5 EMA Strategy" on YouTube for further explanations. Note: This strategy is not limited to intraday trading and can be applied to positional/swing
Pine Script®指標
由falcon_red提供
Trendilo (OPEN-SOURCE)The provided code is a custom indicator called "Trendilo" in TradingView. It helps traders identify trends in price data. The indicator calculates the percentage change of the chosen price source and applies smoothing to it. Then, it calculates the Arnaud Legoux Moving Average (ALMA) of the smoothed percentage change. The ALMA is compared to a root mean square (RMS) band, which represents the expected range of the ALMA values. Based on this comparison, the indicator determines whether the trend is up, down, or sideways. The indicator line is plotted in a color corresponding to the trend direction. The indicator also provides the option to fill the area between the indicator line and the RMS band. Additionally, users can choose to color the bars of the chart based on the trend direction. Overall, the "Trendilo" indicator helps traders visually identify trends and potential reversals in the price data.
Pine Script®指標
由dudeowns提供
40
Futures All List / Sell SignalAs of May 2023, there are more than 180 usdt perpetual coins on the binance futures exchange. These coins are included in the indicator in lists of 40. They are sorted instantly in the table from largest to smallest. The sorting style can be changed in the indicator settings. This indicator collects RSI and TSI values at desired values. The result has a maximum value of 600. A value of 600 signals that the price will decrease or remain stable for a certain period of time. Generally, a short can be expected from the closest point to 600. If 3 separate lists are selected by using 3 of these indicators, 120 coins can be analyzed at the same time. Available in all time zones. Examine it in a 3-minute timeframe. The line inside the indicator draws the instantaneous values of the relevant coin.
Pine Script®指標
由gokhanpirnal提供
3
Ratio To Average - The Quant ScienceRatio To Average - The Quant Science is a quantitative indicator that calculates the percentage ratio of the market price in relation to a reference average. The indicator allows the calculation of the ratio using four different types of averages: SMA, EMA, WMA, and HMA. The ratio is represented by a series of histograms that highlight periods when the ratio is positive (in green) and periods when the ratio is negative (in red). What is the Ratio to Average? The Ratio to Average is a measure that tracks the price movements with one of its averages, calculating how much the price is above or below its own average, in percentage terms. USER INTERFACE Lenght: it adjusts the number of bars to include in the calculation of the average. Moving Average: it allows you to choose the type of average to use. Color Up/Color Down : it allows you to choose the color of the indicator for positive and negative ratios.
Pine Script®指標
由thequantscience提供
1
ReversalThe primary objective of this indicator is to discern candles that exhibit characteristics suggestive of potential market reversals through the application of candlestick analysis. Extensive observation across various assets and timeframes has revealed the existence of a recurrent reversal pattern. This pattern typically manifests as a sequence of one to three candles that abruptly diverge from the prevailing price action or trend, offering a distinctive signal indicating a potential reversal. By leveraging the insights gained from this observation, the indicator aims to assist traders in identifying these noteworthy candle patterns that hold the potential to indicate significant market shifts. The indicator operates as follows: initially, it identifies the lowest close (in the case of a bullish reversal) or the highest close (in the case of a bearish reversal) within a specified number of previous candles, as determined by user input (referred to as "Candle Lookback"). Next, the indicator examines whether the closing price surpasses the high of the previously identified lowest (bullish reversal) or highest (bearish reversal) closed candle within a designated number of candles, as specified by the user (referred to as "Confirm Within").
Pine Script®指標
由HasanRifat提供
42
Session Bar Color (US Time)This script is designed to change the color of bars on a trading chart based on different trading sessions in Eastern Time (ET). It is different from currently published scripts in that it specifically focuses on US time sessions and provides a customizable approach to defining and coloring each session. To use this script, you can apply it to a chart by selecting it from the list of available indicators or overlays. The script is meant for traders who are interested in visualizing different trading sessions on their charts. By coloring the bars based on session boundaries, it can help traders quickly identify session changes and potentially adjust their trading strategies accordingly. Mostly it's used to draw the high and low zones of each session. The markets this script is suitable for are those that operate within the US time zones, as it specifically focuses on Eastern Time (ET) sessions. It can be used for various types of markets, including stocks, futures, and forex. The conditions for each session are defined using the input. session function, which allows you to specify the start and end times for each session. The script includes four sessions: Asian, London, USA, and New York. By modifying the defval parameter for each session input, you can customize the session times to fit your specific trading preferences or time zone. The script uses the time function to check if the current bar falls within a particular session. If the condition is met, it sets the color of the bar using the bar color function. Each session is assigned a different color: black for the Asian session, teal for the London session, a custom RGB color (dark red) for the USA session, and red for the New York session. It's important to note that this script assumes the time zone of the trading platform is set to "Etc/GMT+4" to align with Eastern Time (ET). If your platform uses a different time zone, you may need to adjust the time function calls to match your desired time zone.
Pine Script®指標
由DOSALGO提供
1
terrible financial advisorThe script you're looking at is a humorous "financial advisor" that places funny and non-traditional investment advice labels on a trading chart. The advice doesn't really have any meaningful connection to real financial indicators or market trends, and it's meant for entertainment purposes only. Here's how it works: Every 23 bars on the chart (a bar could represent a day, an hour, or another period, depending on the chart settings), the script places a new label. The content of each label is determined by the remainder when the current bar number is divided by 10. Keep in mind that this script is just for fun, and you shouldn't base any real investment decisions on its output! it works as intended.
Pine Script®指標
由FlashBar提供
1
Precision Trader Indicator, v1.01Overview: The PTI is a custom indicator designed to provide buy and sell signals based on price movements and volatility. It uses the Average True Range (ATR) to calculate stop levels and identifies potential trend changes. Parameters: The indicator has several customizable parameters that you can adjust according to your preferences. These parameters include: - ATR Period (length): Determines the lookback period for calculating the ATR. - ATR Multiplier (mult): Specifies the multiplier applied to the ATR to determine the stop levels. - Show Buy/Sell Labels (showLabels): Allows you to choose whether to display buy/sell labels on the chart. - Use Close Price for Extremums (useClose): Determines whether the indicator considers the close price for calculating extremums. - Highlight State (highlightState): Enables highlighting of the long and short state on the chart. Calculation: 1. ATR Calculation: The indicator calculates the Average True Range (ATR) using the specified length parameter and multiplies it by the ATR Multiplier (mult) to obtain the ATR value. 2. Long Stop Calculation: The long stop level is calculated based on the highest price over the specified length period (using either the high or close price, depending on the useClose parameter) minus the ATR value. It ensures that the long stop is below the recent highest point. 3. Short Stop Calculation: The short stop level is calculated based on the lowest price over the specified length period (using either the low or close price) plus the ATR value. It ensures that the short stop is above the recent lowest point. 4. Direction Calculation: The indicator determines the current direction based on the close price compared to the previous long stop and short stop levels. If the close price is above the previous long stop, the direction is set to 1 (indicating a bullish trend). If the close price is below the previous short stop, the direction is set to -1 (indicating a bearish trend). Otherwise, the direction remains unchanged. Plotting: The indicator plots several visual elements on the chart: - Long Stop: Draws a line representing the long stop level. - Long Stop Start: Plots a small circle marker indicating the start of a long stop (buy signal). - Buy Label: Displays a "Buy" label near the long stop start marker. - Short Stop: Draws a line representing the short stop level. - Short Stop Start: Plots a small circle marker indicating the start of a short stop (sell signal). - Sell Label: Displays a "Sell" label near the short stop start marker. - Long State Filling: Fills the area between the mid price and the long stop line with a color (optional). - Short State Filling: Fills the area between the mid price and the short stop line with a color (optional). Alerts: The indicator includes three types of alerts: - PTI Direction Change: Triggers an alert when the PTI direction changes (from bullish to bearish or vice versa). - PTI Buy: Triggers an alert when a buy signal occurs (long stop start). - PTI Sell: Triggers an alert when a sell signal occurs (short stop start). By using the PTI indicator, traders can monitor potential trend changes and receive alerts when buy or sell signals are generated based on price and volatility dynamics. Please note that the interpretation and effectiveness of this indicator should be evaluated through rigorous backtesting and analysis before making any trading decisions.
Pine Script®指標
由RCMG提供
Planetary Tunings Moving AveragesThe Pine Script "Planetary Tunings Moving Averages" is a unique tool that plots moving averages (MAs) on a chart, representing the wavelengths of different planets as derived from the book Quadrivium. These wavelengths, also referred to as 'planetary tunings', are related to the orbital resonance of each planet. Each planetary tuning value is first transformed into a whole number by multiplying it by 1000 and removing the decimal. This whole number is then used as the length parameter for a Simple Moving Average (SMA) function. This function calculates the average of the closing prices over the defined number of periods, thereby creating a moving average line on the chart. The moving average lines are color-coded according to the planet they represent, allowing for quick and easy interpretation. For example, Mercury's moving average line is blue, Venus's line is orange, and so forth. These colors can be adjusted directly in the Pine Script code if desired. Additionally, the script computes the mean of all these moving averages and plots it on the chart. This line provides an overall trend line, summarizing the collective behavior of all the planetary tuning moving averages. The drawings in the chart are fib channels and fib circles that I use to capture liquidity in time. Please note that this script is written for Pine Script Version 4. It's crucial to ensure your TradingView platform is compatible with this version. For any issues or further clarification, consider referring to TradingView's Pine Script documentation or its community forums.
Pine Script®指標
由DukeDoobie1111提供
6
Adaptive Mean Reversion IndicatorThe Adaptive Mean Reversion Indicator is a tool for identifying mean reversion trading opportunities in the market. The indicator employs a dynamic approach by adapting its parameters based on the detected market regime, ensuring optimal performance in different market conditions. To determine the market regime, the indicator utilizes a volatility threshold. By comparing the average true range (ATR) over a 14-period to the specified threshold, it determines whether the market is trending or ranging. This information is crucial as it sets the foundation for parameter optimization. The parameter optimization process is an essential step in the indicator's calculation. It dynamically adjusts the lookback period and threshold level based on the identified market regime. In trending markets, a longer lookback period and higher threshold level are chosen to capture extended trends. In ranging markets, a shorter lookback period and lower threshold level are used to identify mean reversion opportunities within a narrower price range. The mean reversion calculation lies at the core of this indicator. It starts with computing the mean value using the simple moving average (SMA) over the selected lookback period. This represents the average price level. The deviation is then determined by calculating the standard deviation of the closing prices over the same lookback period. The upper and lower bands are derived by adding and subtracting the threshold level multiplied by the deviation from the mean, respectively. These bands serve as dynamic levels that define potential overbought and oversold areas. In real-time, the indicator's adaptability shines through. If the market is trending, the adaptive mean is set to the calculated mean value. The adaptive upper and lower bands are adjusted by scaling the threshold level with a factor of 0.75. This adjustment allows the indicator to be less sensitive to minor price fluctuations during trending periods, providing more robust mean reversion signals. In ranging market conditions, the regular mean, upper band, and lower band are used as they are more suited to capture mean reversion within a confined price range. The signal generation component of the indicator identifies potential trading opportunities based on the relationship between the current close price and the adaptive upper and lower bands. If the close price is above the adaptive upper band, it suggests a potential short entry opportunity (-1). Conversely, if the close price is below the adaptive lower band, it indicates a potential long entry opportunity (1). When the close price is within the range defined by the adaptive upper and lower bands, no clear trading signal is generated (0). To further strengthen the quality of signals, the indicator introduces a confluence condition based on the RSI. When the RSI exceeds the threshold levels of 70 or falls below the threshold level of 30, it indicates a strong momentum condition. By incorporating this confluence condition, the indicator ensures that mean reversion signals align with the prevailing market momentum. It reduces the likelihood of false signals and provides traders with added confidence when entering trades. The indicator offers alert conditions to notify traders of potential trading opportunities. Alert conditions are set to trigger when a potential long entry signal (1) or a potential short entry signal (-1) aligns with the confluence condition. These alerts allow traders to stay informed about favorable mean reversion setups, even when they are not actively monitoring the charts. By leveraging alerts, traders can efficiently manage their time and take advantage of market opportunities. To enhance visual interpretation, the indicator incorporates background coloration that provides valuable insights into the prevailing market conditions. When the indicator generates a potential short entry signal (-1) that aligns with the confluence condition, the background color is set to lime. This color suggests a bullish trend that is potentially reaching an exhaustion point and about to revert downwards. Similarly, when the indicator generates a potential long entry signal (1) that aligns with the confluence condition, the background color is set to fuchsia. This color represents a bearish trend that is potentially reaching an exhaustion point and about to revert upwards. By employing background coloration, the indicator enables traders to quickly identify market conditions that may offer mean reversion opportunities with a directional bias. The indicator further enhances visual clarity by incorporating bar coloring that aligns with the prevailing market conditions and signals. When the indicator generates a potential short entry signal (-1) that aligns with the confluence condition, the bar color is set to lime. This color signifies a bullish trend that is potentially reaching an exhaustion point, indicating a high probability of a downward reversion. Conversely, when the indicator generates a potential long entry signal (1) that aligns with the confluence condition, the bar color is set to fuchsia. This color represents a bearish trend that is potentially reaching an exhaustion point, indicating a high probability of an upward reversion. By using distinct bar colors, the indicator provides traders with a clear visual distinction between bullish and bearish trends, facilitating easier identification of mean reversion opportunities within the context of the broader trend. While the "Adaptive Mean Reversion Indicator" offers a robust framework for identifying mean reversion opportunities, it's important to remember that no indicator is foolproof. Traders should exercise caution and employ risk management strategies. Additionally, it is recommended to use this indicator in conjunction with other technical analysis tools and fundamental factors to make well-informed trading decisions. Regular backtesting and refinement of the indicator's parameters are crucial to ensure its effectiveness in different market conditions.
Pine Script®指標
由LeafAlgo提供
3
Correlation TrackerCorrelation Tracker Indicator The Correlation Tracker indicator calculates and visualizes the correlation between two symbols on a chart. It helps traders and investors understand the relationship and strength of correlation between the selected symbol and another symbol of their choice. Indicator Features: - Correlation Calculation: The indicator calculates the correlation between two symbols based on the provided lookback period. - Correlation Scale: The correlation value is normalized to a scale ranging from 0 to 1 for easy interpretation. - Table Display: A table is displayed on the chart showing the correlation value and a descriptive label indicating the strength of the correlation. - Customization Options: Users can customize the text color, table background color, and choose whether to display the Pearson correlation value. - The Correlation Tracker indicator utilizes a logarithmic scale calculation, making it particularly suitable for longer timeframes such as weekly charts, thereby providing a more accurate and balanced measure of correlations across a wide range of values. How to Use: 1. Select the symbol for which you want to track the correlation (default symbol is "SPX"). 2. Adjust the lookback period to define the historical data range for correlation calculation. 3. Customize the text color and table background color according to your preference. 4. Choose whether to display the Pearson correlation value or a descriptive label for correlation strength. 5. Observe the correlation line on the chart, which changes color based on the strength of the correlation. 6. Refer to the correlation table for the exact correlation value or the descriptive label indicating the correlation strength. Note: The indicator can be applied to any time frame chart and is not limited to logarithmic scale.
Pine Script®指標
由Julien_Eche提供
6