Kendall Rank Correlation Coefficient script. This way to measure the ordinal association between two measured quantities described by Maurice Kendall (1938, Biometrika, 30 (1–2): 81–89, "A New Measure of Rank Correlation"). In this script I compare Kendall Coefficient and Pearson Coefficient (using built-in "correlation" function).
this script by RichardoSantos description -- Power oscillator to discern what currency's are stronger/weaker. added option to use a smoothed source(close) for pooling the change, giving longer term directional bias, note that this causes lag in the results as MA's turn slower than price. -- I added currency labels and changed line color only.
Correlation Based Pair Trading Strategy (Trading the spread) There are three popular styles of Pair trading: * Distance based pair trading * Correlation based pair trading * Cointegration based pair trading The correlation based strategy is to short the outperforming instrument and go long on the underperforming one whenever the temporary correlation weakens...
Chande Kroll R-Squared Index script. This indicator was originally developed by Tushar S. Chande and Stanley Kroll (see their book `The New Technical Trader`, Chapter 2: `Linear Regression Analysis`).
Detects if there is a correlation between two securities. It shows a positive level when they have been moving together and a negative level when they have been moving in opposite directions.
*** Only works for the 28 pairs of the majors & 'major crosses' tickers, this will not provide analysis for anything else!!*** AUD / CAD / CHF / EUR / GBP / JPY / NZD / USD - mix and match.
Makes visual the theory that "a strong dollar is bullish for equities/stocks" ...but oh man, these two are definitely not that strongly correlated. What's the deal with that? Still learning. Glad for any comments.
This is originally @cryptorae's script with modifications. A great explanation of function can be found on their Twitter. Original comments: Follow me @cryptorae on twitter H/T @AureliusBTC and @cryptom173 for tweaks and assistance Added three more setups: Correlation oscillator Raw volume Percent change for the two sets of volume ("retail" and...
Pretty viz of how correlated/uncorrelated price of coins BTC ETH LTC BCH are on GDAX. From the ref: "Correlation coefficient. Describes the degree to which two series tend to deviate from their sma values."
Logistic Correlation is a correlation oscillator using a logistic function. A Logistic Function is a Sigmoid Function who stabilize the variance of data.The logistic function have the same function as the inverse fisher transform but with an advantage over it, the k constant can control the steepness of the curve, lowers k's will preserve the original form of...
This study is an experiment in adaptive filtering. The process in this study was inspired by KAMA and ZLEMA filtering techniques. First, data is given an optional modification for lag reduction. Then, an adaptive filter of your choice is calculated. There are 6 different adaptive filters to choose from in this study: -Commodity Channel Index Adaptive Moving...
A simple script to display how correlated the current ticker is to Bitcoin. Inputs are the number of bars to check correlation for (default 10) and the the ticker to use for BTC comparison (default is BITFINEX:BTCUSD) Values of 1 are highly correlated (i.e. bitcoin moves up, so does your current ticker), values of -1 are inversely correlated (i.e. bitcoin moves...
Fundamentals The idea for this script is based on Fundamentals. I wanted to verify the strength/weakness of the US dollar against other major economies This will keep me on the right side of the "trend" .. bullish or bearish ? In short, because Fundamentals Analysis are reflected via economic updates which influences what the price will be doing for the next...
The code in contains a simple correlation indicator that can be used as an alternative to Tradingview’s built-in “Correlation Coefficient” indicator. The indicator allows users to correlate up to 3 separate instruments on the same subplot. This allows you, for example, to easily see the correlation of your instrument with stocks, bonds and FX. Alternatively, a...
This is a simple study designed to visualize price correlation coefficients between multiple securities.
This is a simple study designed to visualize price correlations between securities.
This is a pretty simple indicator, it measures the momentum of bitcoin as compared to usd,eur,eth,dash, and ltc, which you can see in all of the blue lines. If the red line is above zero then it means the overall value of btc is going up, opposite for down. The Ema_window controls how smooth the signal is. If you shorten the Ema_window parameter and open this on...
This script is very much beta! This is a simple script to visualize how two symbols move in relation to each other. For example if the underlying symbol is a 2x Gold ETF (meaning the ticker moves at 2x the spot price of gold---if gold goes up 3% this ticker should go up 6%) and the comparison symbol is an 2x inverse gold ETF (at gold up 3% this should move down...