Hashem Correlation CoefficientCorrelation Coefficient
Core Code from: www.tradingview.com
This indicator Show Correlation between the Current Ticker & timeframe and a Customizable Ticker. After adding the indicator you can change the second ticker in the settings.
The Correlation Coeff is between -1 to 1 which 1 means 100% correlation and -1 means -100% correlation ( Inverse Correlation ).
The color of the area changes when:
Blue : CC > 0.5
Aqua : CC > 0.75
Purple : CC < -0.5
Red : CC < -0.75
