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Crypto Correlation Matrix Series [SHK]

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Hi everyone, Although everything's clear from the title but I should describe some basic points.

Currency Correlation is a statistical measure of how two securities move in relation to each other.
So this script is used to show if current pair (alt-coins) is moving in the same direction of bitcoin (or ethereum) or not. Consider that in crypto market most of alt-coins have correlation of +0.7 with bitcoin, So temporary changes in correlation may signal a reversal or sharp continuation for the alt-coin.

"1" : The alt coin is moving in same direction of Bitcoin (Or Ethereum).
"0" : The alt coin is moving in random direction compared to Bitcoin. (No movement relation)
"-1" : The alt coin is moving in opposite direction of Bitcoin.

Important Note: By default average of 15 bars back is measured to calculate the correlation by this script. Please test other periods and share the best options with us.


Comments are welcomed :)
Nota Keluaran
Bitfinex added.
Bitstamp added.

Penafian

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