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Correlation Calculator


tauf

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The Correlation calculator visually (using charts) represents the existence of an interconnection between movements in the price of different trading pairs and calculates a correlation coefficient. The correlation coefficient is an indicator that shows the degree of interconnectedness between chosen pairs. The correlation coefficient takes on values ranging between -1 and +1. The value of +1 (or any closest to it) indicates that prices of chosen pairs are moving in the same direction. The value of -1 (or any closest to it) indicates that prices of chosen pairs are moving in opposite directions. The following degrees of correlation are distinguished:

 

- weak (0 to +/- 0.2);

- low (from +/-0.2 to 0.4);

- average (from +/-0.4 to 0.7);

- high (from +/-0.7 to 0.9);

- strongest (from +/-0.9 to 1).

 

The Correlation calculator is a useful analytical tool that helps to make a sound trading decision when using a strategy, which is based on diversification and hedging against risks

 

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Fibonacci Calculator

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The fibonacci calculator is a tool that traders use to help identify strategic places for transactions, stop losses or target prices to help them get in at a good price.

 

 

The chart does not show fibonacci calculator. And those indicators you mentioned, they are either already built in the meta trader platform or can be found online where samples are greater then one's trading platform.

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