Normalized Correlation Coefficient

1 set 2022

This is a normalized correlation coefficient that can be used with any timeframe or symbol desired (found in the indicator settings). The normalization function makes the coefficient bound between 0-1. There is a subjective threshold at 0.80 where anything below the threshold tends to be higher risk in trading as opposed to above the threshold.

Suggestions:
- Use a timeframe slightly higher than your current chart for optimal results.
- Do not use as a standalone strategy, rather, use it as a layer of confirmation.
- For altcoin cryptocurrencies, we suggest tethering the indicator to the "OTHERS" chart.

1 set 2022

Note di rilascio

Changed the length code from 252 to 40. Can be changed further by users.

1 set 2022

Note di rilascio

Took out flavor text, updated chart image.