It can also use 22 types of prices, and user has a choice of using floating levels or fixed levels (for determining the over-bought and over-sold levels).
Both for Spearman and Pearson correlation the same rule applies. Correlation can range from 1 to -1 and they are usually referred to as:
1 is perfect positive correlation — when the changes are exactly the same
0 is the no correlation state
-1 is the perfect negative correlation — when the changes are exactly the opposite
Autocorrelation - indicator MetaTrader 5 The indicator calculates and displays on a chart the autocorrelation function, which shows the relationship between the function (signal) and…
