MetaTrader 4 Cracking Correlation (ICT) Indicator Download – [TFlab] – MT4/MT5 Resources

The Crack Correlation Indicator , a MT4 Smart Money Indicator designed to identify periods during which correlations between three assets such as “DJI”, “ND100” and “SP500” change .

Highly correlated symbols often move in similar directions. However, this correlation can sometimes break down . This trading tool highlights these correlation breaks using lines .

Crack relevant indicator specifications

The table below highlights the key features of the crack-related metrics.

Indicator Overview

The crack correlation indicator visually tracks correlation breaks using colored lines between three symbols. When one symbol breaks a level and the others do not, the color of the line will change from gray to either red (bearish breakout) or green (bullish breakout), signaling divergence.

Bullish market scenario

In a 30-minute chart of DJI , ND100 , and SP500 , the SP500 breaks above a price ceiling while the other two symbols remain below it.

This reflects a correlation break , indicating that SP500 is leading the market uptrend .

Bearish market scenario

In the 30-minute charts of DJI , ND100 , and SP500 , the DJI was below the defined support level , while ND100 and SP500 failed to break above the same level.

This identifies a correlation breakdown , highlighting the DJI as the leading outlier downtrend .

Crack related indicator settings

The figure below shows the settings panel for the crack related indicators :

• First symbol: Set the main asset for analysis
• Second symbol: Select the second asset
• Third symbol: Select the third asset
• Show objects: Enable or disable the display of chart elements

Conclusion

The Crack Correlation indicator is based on the ICT strategy and is capable of showing correlation breaks between three trading symbols

This liquidity indicator uses color-changing lines to help identify correlation breakdowns between selected symbols. It is important to note that to activate this indicator, it must be applied to the First symbol .