STRX - Monitor Multi-Asset

The STRX - Monitor Multi-Asset is an advanced Intermarket Analysis tool designed to visualize real-time correlations between a specific "Main Base Asset" and up to 5 other financial instruments.

Understanding how your traded asset moves in relation to the broader market (e.g., Gold vs. US Dollar, or Bitcoin vs. Nasdaq) is crucial for risk management and trend confirmation. This script provides a clean, dynamic dashboard to track these relationships instantly.

🎯 How it Works (The Math) The indicator utilizes the Pearson Correlation Coefficient to measure the statistical relationship between two price arrays over a user-defined period (default is 20 periods).

The logic follows a "Hub and Spoke" model:

You select one Main Base Asset (The Hub).

All other enabled assets are calculated strictly against this Base Asset.

The correlation values range from -1.0 to 1.0:

⬆️ > 0.7 (Green): Strong Positive Correlation (Assets move together).

↗️ 0.4 to 0.7 (Lime): Moderate Positive Correlation.

↔️ -0.4 to 0.4 (Yellow): Neutral / No significant correlation.

↙️ -0.7 to -0.4 (Orange): Moderate Negative Correlation.

⬇️ < -0.7 (Red): Strong Negative Correlation (Assets move in opposite directions).

🚀 Key Features

Dynamic Table Display: The dashboard automatically adjusts its size. If you disable an asset in the settings, it is removed from the table to keep your chart clean.

Toggleable Inputs:

- Assets 2 & 3: Enabled by default for quick comparisons.

- Assets 4, 5 & 6: Disabled by default (Optional) for deeper analysis.

Multi-Timeframe Capable: You can view the chart on a 1-minute timeframe but calculate correlations based on higher timeframes (e.g., 5-minute or Daily data) to filter out market noise.

Visual Cues: The table uses intuitive background colors and arrows, allowing you to assess market relationships at a glance.

🛠 Settings Guide

1. Base Asset: The primary instrument you are analyzing (e.g., FX:XAUUSD).

2. Standard Comparisons: Enable/Disable and select symbols for the first two comparisons.

3. Extra Comparisons: Check the "Enable" box to add up to 3 more assets to the table.

4. Settings:

Calculation Timeframe: Default is 5 minutes.

Correlation Period: Number of candles for the lookback window (default 20).

💡 Practical Use Case

Forex: Set Base Asset to EURUSD and compare against DXY (Dollar Index) to confirm weakness/strength.

Crypto: Set Base Asset to BTCUSD and compare against SP:SPX (S&P 500) to gauge risk-on/risk-off sentiment.

Disclaimer: This tool is for educational purposes only and does not constitute financial advice. Past performance is not indicative of future results.