TradeAutomation

Multi Asset + Correlation Overlay

From time to time, you may want to overlay multiple assets on the same chart instead of using multi-chart views. This can be a much cleaner way of viewing and comparing multiple assets. There is some functionality built into TradingView that lets you do this to a certain extent, but I wanted additional options, correlation labeling and ways to adjust the overlay location. So, today I am releasing to the community my Multi-Asset + Correlation Overlay script / indicator.

What is does: This script allows you to overlay the price of any ticker onto your chart. It also labels the line with the ticker name, and calculates / labels the correlation coefficient of your newly overlayed asset.

How to use it: Add the indicator to your chart. Then, go into the indicator settings to set the ticker of the asset you want to pull in along with how you want to "offset" it. Your 2 tickers may not be priced near each-other, so the offset setting allows you to pull the ticker you added up/down to better visually align with your chart's price range/layout. For instance, if the asset you added is priced $400 higher than the underlying chart price, you may want to set the offset to -400.

If you would like to add multiple tickers and multiple overlays, you can do that by just adding the indicator to your chart more than once. The color is adjustable, and the ticker of the asset will print to the right of the line representing the asset price. The script also calculates the correlation coefficient between the ticker overlay and the underlying chart asset. The correlation coefficient prints to the right of the ticker.

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Skrip sumber terbuka

Dalam semangat TradingView yang sebenar, penulis skrip ini telah menerbitkannya dengan menggunakan sumber terbuka supaya pedagang-pedagang dapat memahami dan mengesahkannya. Sorakan kepada penulis! Anda dapat menggunakannya secara percuma tetapi penggunaan semula kod ini dalam penerbitan adalah dikawalselia oleh Peraturan Rumah. Anda boleh menyukainya untuk menggunakannya pada carta.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.

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