Currency Pairs Correlation Indicator
The Currency Pairs Correlation Indicator for Metatrader settings is the best tool for forex traders to understand correlation and apply them in various trading strategies.
CATEGORIES: MT4, SIGNAL, OSCILLATOR
Updated on: 12.11.2023
The Currency Pairs Correlation Indicator for MetaTrader is specially designed to provide the forex traders. It display the average movement of price fluctuation between any two currency pairs in a given time frame. The insights on the two currencies will provide the forex trader with three possible results. Firstly, positively correlated currency pairs move in the same direction. Secondly, negatively correlated pairs move in the opposite direction. Thirdly they move completely randomly to each other. These results provide the forex trader with an edge to choose the best
Most currency correlation indicators provide currency the results as a table list or chart, or calculator, the currency pair correlation indicator for MT4 provides them as a histogram in the indicator window. The indicator provides the correlation between the two currency pairs in green and red histograms.
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