Correlation indicator.

There are many different strategies in the Forex market, one of the most popular of which is the use of the principle of the relationship between exchange rates, also known as Forex correlation .

The idea is to find two related currency pairs and determine how one currency pair behaves when the other changes. You can do this yourself, but it's easier to use a correlation indicator.

A special script will help identify patterns in currency pair movements, allowing you to profit from currency fluctuations.

The correlation indicator is an extremely easy-to-use tool, easily adjustable by any novice trader.

Key parameters:

Symbol1 – the primary trading tool

Symbol2 is the second tool for calculating correlation.

Depth is the number of time periods (bars, candlesticks) on which you want to use the correlation indicator. For example, if you're trading on H1 and want to consider the trend history only for the past 12 hours, set Depth to 12.

Shift is the deviation for currency pairs; it's best to use zero, as is the default setting.

ExpKoef is a coefficient applied to the blue line; we'll also leave the existing value.

You can also change the thickness and color of the displayed lines and select the timeframe on which the indicator will run.

For increased efficiency, it's recommended to open two charts of the currency pairs you're using at once, so you can get a better understanding of how the tool works.

After downloading, you need to complete the standard installation and configure the necessary parameters. Once launched, another window will appear in the trader's trading terminal, displaying two lines, one red and one blue.

The indicator installed in the trader's terminal worked perfectly, and its main advantage is that it's completely free, unlike many similar tools.

Download the correlation indicator.