Price Correlations — Indicator by Ekliptor

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This indicator shows price correlations of your current chart to various well-known indices.

Values above 0 mean a positive correlation, below 0 a negative correlation (not correlated).
It works well with daily candle charts and above, but you may also try it on 1h candles.

The default indices:
- Gold
- S&p 500
- Mini Dow Jones
- Dow Jones
- Russel 2000
- Nasdaq 100
- Crude Oil
- Nikkei 225 (Japan)
- FTSE 100 (UK)
- Silver
- DAX Futures (DE)

You can change the defaults to compare prices with other indices or stocks.

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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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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