TiModel Correlation developed for forex traders to trade using a multi-market analysis, and rapid response to changes in current trends. 

Designed mainly for intraday trading (M1, M5, M15), but it works on all timeframes. 

History of the indicator does not redraw. 

Through the use of normalizing methods works in all markets and instruments.

 

Task

The main objective of the indicator - to simplify multi-analysis, where a large number of different graphs displaying several correlated instruments in a convenient manner and on the same graph.

Indicator using the correlation coefficient selects from all possible (20 currency pairs) correlated with the instruments most traded schedule. And then from the last breakpoint draws its dynamics in the form of 3 multi-colored beams.

 

Principle of operation 

    Operates on tick mode. 

The model of the trend (red line) on the instrument, a trader decides to trade. Further, from the last sampling point (breakpoint) go 4 beams: 

• Red beam - a beam traded instrument. He is always drawn horizontally until until the next breakpoint is formed. 

• Orange beam - the correlated instrument. 

• Golden Ray - a tool with a correlation coefficient of less than "orange". 

• White beam - a tool with a correlation coefficient of less than "gold".

 

The main parameters 

• LengthSample, bars - the length of the historical data (sampling) in bars. 

• Threshold, pips - dynamics of the model (the threshold) in points.

 

Note 

• The correlation coefficient is taken modulo. Ie graphics selected as a positive correlation coefficient and negative. 

• A list of tools that are analyzed: EURUSD, GBPUSD, EURGBP, EURAUD, EURJPY, EURCAD, USDCHF, EURNZD, AUDUSD, USDJPY, NZDUSD, GBPJPY, GBPAUD, GBPCHF, GBPCAD, GBPNZD, AUDJPY, AUDCAD, AUDNZD, NZDJPY, CADJPY.