example:
if you want to find the stronger/weaker pair between eurusd and gbpusd, what you can do is check the eurgbp charts. if eurgbp is bullish, that means, that longs longs on eurusd are better than on gbpusd.
Unfortunately, there is no such thing to compare for example usoil with ukoil, or us100 with us500.
That's where this indicator comes in handy. You can...
Correlation coefficient is a measure of the strength of the relationship between two values. It can be useful for market analysis, cryptocurrencies, forex and much more.
Since it "describes the degree to which two series tend to deviate from their moving average values" (1), first of all you have to set the length of these moving averages. You can also retrieve...
Based on the "logical trading" post of Charles Cornley (thanks!).
Indicator States:
Very Bullish (Lime) = USD trend rising and JPY trend falling and Gold trend falling and US 10Y Bond trend falling and
Dow Jones trend rising and Nasdaq trend rising and Russell 2000 trend rising and
S&P 500 trend rising and...
