Money Flow based probabilityMoney Flow based probability
This indicator provides a comprehensive correlation and momentum analysis between your main asset and up to three selected correlated assets. It combines correlation, trend, momentum, and overbought/oversold signals into a single, easy-to-read table directly on your chart.
Correlated Asset Selection :
You can select up to three correlated assets (e.g., indices, currencies, bonds) to compare with your main chart symbol. Each asset can be toggled on or off.
Correlation Calculation :
The indicator uses the native Pine Script ta.correlation function to measure the statistical relationship between the closing prices of your asset and each selected pair over a user-defined period.
Technical Analysis Integration :
For each asset (including the main one), the indicator calculates:
Trend direction using EMA (Exponential Moving Average) – optional
Momentum using MACD – optional
Overbought/oversold status using RSI – optional
Probability Scoring :
A weighted scoring system combines correlation, trend, MACD, RSI, and trend exhaustion signals to produce buy and sell probabilities for the main asset.
Visual Table Output :
A customizable table is displayed on the chart, showing:
Asset name
Correlation (as a percentage, -100% to +100%)
Trend (Bullish/Bearish)
MACD status (Bullish/Bearish)
RSI value and status
Buy/Sell probability (with fixed-width formatting for stability)
User Customization :
You can adjust:
Table size, color, and position
Correlation period
EMA, MACD, and RSI parameters
Which assets to display
This indicator is ideal for traders who want to quickly assess the influence of major correlated markets and technical signals on their trading instrument, all in a single glance.
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Example: Correlation Calculation
corrCurrentAsset1 = ta.correlation(close, asset1Data, correlationPeriod)
Example: Table Output (Buy/Sell %)
buyStr = f_formatPercent(buyProbability) + "%"
sellStr = f_formatPercent(sellProbability) + "%"
cellStr = buyStr + " / " + sellStr
Rdl_finance
Correlation TableThis indicator displays a vertical table that shows the correlation between the asset currently loaded on the chart and up to 32 selected trading pairs. It offers the following features:
Chart-Based Correlation: Correlations are calculated based on the asset you have loaded in your chart, providing relevant insights for your current market focus.
Configurable Pairs: Choose from a list of 32 symbols (e.g., AUDUSD, EURUSD, GBPUSD, etc.) with individual checkboxes to include or exclude each pair in the correlation analysis.
Custom Correlation Length: Adjust the lookback period for the correlation calculation to suit your analysis needs.
Optional EMA Smoothing: Enable an Exponential Moving Average (EMA) on the price data, with a configurable EMA length, to smooth the series before calculating correlations.
Color-Coded Output: The table cells change color based on the correlation strength and direction—neutral, bullish (green), or bearish (red)—making it easy to interpret at a glance.
Clear Table Layout: The indicator outputs a neatly organized vertical table with headers for "Pair" and "Correlation," ensuring the information is displayed cleanly and is easy to understand.
Ideal for traders who want a quick visual overview of how different instruments correlate with their current asset, this tool supports informed multi-asset analysis
ITALIANO:
Questo indicatore visualizza una tabella verticale che mostra la correlazione tra l'asset attualmente caricato sul grafico e fino a 32 coppie di trading selezionate. Offre le seguenti funzionalità:
Correlazione basata sul grafico: le correlazioni vengono calcolate in base all'asset caricato nel grafico, fornendo informazioni pertinenti per il tuo attuale focus di mercato.
Coppie configurabili: scegli da un elenco di 32 simboli (ad esempio, AUDUSD, EURUSD, GBPUSD, ecc.) con caselle di controllo individuali per includere o escludere ciascuna coppia nell'analisi della correlazione.
Lunghezza di correlazione personalizzata: regola il periodo di lookback per il calcolo della correlazione in base alle tue esigenze di analisi.
Smoothing EMA opzionale: abilita una media mobile esponenziale (EMA) sui dati dei prezzi, con una lunghezza EMA configurabile, per smussare la serie prima di calcolare le correlazioni.
Output codificato a colori: le celle della tabella cambiano colore in base alla forza e alla direzione della correlazione, neutra, rialzista (verde) o ribassista (rosso), rendendola facile da interpretare a colpo d'occhio.
Clear Table Layout: l'indicatore genera una tabella verticale ordinatamente organizzata con intestazioni per "Coppia" e "Correlazione", assicurando che le informazioni siano visualizzate in modo chiaro e siano facili da comprendere.
Ideale per i trader che desiderano una rapida panoramica visiva di come diversi strumenti siano correlati con il loro asset corrente, questo strumento supporta un'analisi multi-asset informata
