Pearson Coefficient - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources - MetaTrader 5 Resources

definition:

The Pearson correlation coefficient is the covariance of two variables divided by their product standard deviation . The form of the definition involves a "product moment", i.e. the mean (the origin of the first moment about the product of mean adjusted random variables); hence the modifier product moment . You can find more information here: https://en.wikipedia.org/wiki/Pearson_correlation_coefficient

This version allows us to calculate the coefficient of the symbol itself as well as calculate the correlation coefficient of two symbols.

As with any correlation indicator - when the expected correlation deviates, it can be used as a signal to take appropriate action (in a correlation trading style)

Current symbol has 1 lag

0 bar lagging foreign symbols

Attachment download

📎pearson_coeficcient.mq5 (13.04 KB)

Source: MQL5 #22339