Correlation Matrix Indicator

The Correlation Matrix indicator shows the actual correlation between the selected instruments. The default setting is set to 28 currency pairs, gold, and silver, but the indicator can compare any other symbols.

Interpretation of the Indicator

Main Features

The indicator shows the actual correlation between the selected instruments.
A simple comparison of one symbol against another.
Works on every time frame (M1, M5, M15, M30, H1, H4, D1, W1, MN) .
Customizable parameters (Colors, Correlation Period, Symbols...).
High-speed calculation.
Available for MT4 and MT5.
The indicator works with prefixes and suffixes of symbols as well (EURUSD.m, EURUSD-pro...).

Input Parameters

Correlation_Period - Period of the correlation calculation.
Color_Symbol - Color of the symbols labels.
Color_Strong_Positive_Corr - Color of the strong positive correlations.
Color_Strong_Negative_Corr - Color of the strong negative correlations.
Color_Weak_Corr - Color of the weak correlations.
Symbol_1_Name ... Symbol_30_Name - Names of the symbols (pairs).
Output_1..8 - The output values of the correlation calculation. For example, Symbol_1_2 means correlation calculation of Symbol_1_Name and Symbol_2_Name.

Output Parameters

NOTE: In the case of using the iCustom function, the Output_1..8 parameters are simply numbers of symbols.

Examples:

Symbol_1_2 as output 1 will be Output_1 = 12

Symbol_7_14 as output 2 will be Output_2 = 714

Screenshots

Demo Video

Purchase

All our products are available in the MQL5 market.