Oasis Trading Group: Correlation Table — Indicator by OasisTrading

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The Correlation Table is an indicator that is used to measure the Correlation Coefficient of multiple assets at the same time in an easy to read table.

A quick introduction into reading a Correlation Coefficient:

A strong positive correlation (one asset moves in one direction the other asset also moves in the same direction) = +1.00
A strong negative correlation (one asset moves in one direction the other asset moves in the opposing direction) = -1.00

Typically you would like to see the correlation strength to be greater than 0.7 or less than -0.7 for there to be a tradable correlation. A reading close to zero would not offer optimal trade entries.

The other data the indicator is showing is the overall trend. This reading is a simple calculation based on the correlation length the user inputs, the indicator will determine if price action is trending up or down based on this length.

The indicator has a reading for the current timeframe that is on the chart and also a second timeframe which is defaulted to the daily.

This indicator is an add-on to the

Oasis Trading Group Automated Trading Bot

and I hope to have more updates coming soon.

For Access or Questions: Private message us. Thank you.

Website

oasistrading.io

Meet the Team.

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Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact OasisTrading for more information, or follow the author's instructions below.

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Disclaimer

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Author's instructions

For Access or Questions: Private message us or see oasistrading.io/shop/otg-trading-bot/ Thank you.

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Warning: please read before requesting access.