r2 correlation coefficient — Indicator by Biffy

made a quick script to compare r2 correlation coefficient, can change source and correlation component in inputs menu

example, here we can see that btc currently has a 0.85 correlation with eth vs usd when using simple moving avg on the daily (above 0.8 is positive correlation. below -0.8 is negitive correlation, and anything in between means there is no correlation)

note: if you wanted to compare with a different source like rsi, then you would need to reduce the length in the inputs menu

not an expert, i encourage doing your own research

biffy

Release Notes:

i realised that the correlation function doesn't account for negitive correlations, will look into how i can update to include this. for now just updated to correlated / not correlated

Open-source script

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