there are quite a few of those correlation indicators , some free, some not, some free but not shared.... most plot lines or put values in tidy little boxes....
possibly he first was from simon on the russian site , onix.... or at that was my first glimpse at one......
personally they tend to be somewhat too cluttered for my tastes.... i prefer something clear.... easy to grasp.... easy to interpet.... hard to screw up.... basically something hayseed-proof......
the first picture below shows the audjpy pair but could be any.... even the gbpjpy.....
the first histogram is all the aud pairs with some math applied.....
the second histogram is all the jpy pairs with the same math applied....
the third histogram is both overlayed.....
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it should be somewhat apparent but just in case,
when the aud histogram which is all audpairs/math is above 0 and rising when the the jpy histogram which is all jyp pairs/math is below 0 and falling, it might be worthwhile being long....
reversed situations for short.....
//----
works best with the market moving eur, usd, jyp pairs and when the markets are moving...... just a thought.....h
possibly he first was from simon on the russian site , onix.... or at that was my first glimpse at one......
personally they tend to be somewhat too cluttered for my tastes.... i prefer something clear.... easy to grasp.... easy to interpet.... hard to screw up.... basically something hayseed-proof......
the first picture below shows the audjpy pair but could be any.... even the gbpjpy.....
the first histogram is all the aud pairs with some math applied.....
the second histogram is all the jpy pairs with the same math applied....
the third histogram is both overlayed.....
//-----
it should be somewhat apparent but just in case,
when the aud histogram which is all audpairs/math is above 0 and rising when the the jpy histogram which is all jyp pairs/math is below 0 and falling, it might be worthwhile being long....
reversed situations for short.....
//----
works best with the market moving eur, usd, jyp pairs and when the markets are moving...... just a thought.....h
to trade and code, keep both simple... no call to impress....h