- Indicator on TradingView: https://www.tradingview.com/script/K2dNhmHw-Correlation-Tool-QuantNomad/
Cost / Purchase
The subscription to this indicator is 9.99$/month, 59.99$/year, or 99.99$ for lifetime access.
Also, you can request a 7-day trial access for 2.99$ to test the indicator and see if it works for you.
For subscription, you can pay only with a card, for a lifetime and trial access you can use a card or Paypal.
How does this indicator work?
There is no way to compute the correlation of different symbols in TradingView using basic features. Correlation tool will allow you to do that. You can calculate the correlation matrix for up to 5 products.
You can use any timeframes and products. But make sure that your products have the same trading session if you use intraday data.
As a result of a portfolio calculation, you will see the correlation matrix plotted on your chart. The value of a correlation coefficient ranges between -1 and +1. The correlation coefficient is +1 in the case of a perfect positive correlation, −1 in the case of a perfect negative correlation.
All you need to provide as parameters are 5 symbols and date range you want to check your correlation on.
- Symbol 1 – Symbol 5 – 5 symbols for your correlation matrix.
- From/To Day/Month/Year – date range you want to calculate your correlation on.
Frequently Asked Questions
Does this strategy repaint?
No, I don’t use any of the bugs in PineScript that cause strategy repainting.
Are these scripts free to use?
Can I have a trial for these scripts?
You can get 7 days trial access to indicators for only 2.99$ so you can check if the strategy works for you personally.
Will I get access to the code of the script?
No, these are invite-only scripts on TradingView. You will be able to use them, but the code will be closed for you.
Can I modify your indicator?
As you don’t have access to code you can not modify it yourself. But if you think you know how to make it better – let me know. If I will decide that your modification is good enough I will add it to my scripts.
When will I get access to indicators?
After your purchase, I will grant you access in 24h max, usually it’s just a few hours.
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as good as in historical backtesting.
This post and scripts don’t provide any financial advice.