BacktestRookies

Synergy Stats

Synergy Stats

This indicator is intended to complement the Synergy indicator. It provides the following statistics:

  • A percentage showing how often the two assets move in the opposite direction over a given lookback period.
  • Similarly, another percentage showing how often the two assets move in the same direction over the same lookback period.
  • Count the number of times (occurrences) when the two assets move in the same direction for more than 4 bars.
  • Count the number of times the alternative asset moves more than x%
  • Count the number of times that chart asset moved in the same direction of the alternative asset when the alternative asset moved more than x%

Both indicators were developed for use in an investigation/tutorial using Pine Script to analyse Gold and US Dollar Index correlation.

The full free post can be found here: https://backtest-rookies.com/2018/12/21/...
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