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OPEN-SOURCE SCRIPT

Source Correlation

By simwai
Updated
In this small indicator I make it possible for the user to set two different input sources. Then, the indicator displays the correlation of these two input sources. It's a very small script, but I think it could be helpful to somebody to find uncorrelated indicators for his trading strategy. To use uncorrelated indicators is in general recommended.

Enjoy this small, but powerful tool. 🧙‍♂️
Release Notes
Removed two unnecessary input fields
Reworked visualization
Release Notes
Added back the inputs I removed before, because it must be there in order to ensure that the input data is correctly aligned.
Restyled the plot
analysiscorrelationmathematicsmathsstatisticalstatisticsstrategy

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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simwai
simwai.taplink.ws/

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