fikira

Correlation [array's]

This script isn't about creating a correlation script with labels, there is a perfect working example of @Mango2Juice
(Correlation Matrix, which was inspired by @Daveatt's Correlation Matrix)

The intention was making it with the use of as less code as possible, looping through array's

The Pine correlation function doesn't work consistently in a local scope (loop), so I had to work around it

Inspired by @ZenAndTheArtOfTrading's Correlation Meter (using array.covariance and array.stdev) and
especially with the help of @RicardoSantos and @LonesomeTheBlue I've managed to do this

Symbols, timeframe, look-back period, colors and limits can be changed

There is always room for improvement, but I think it shows what is possible.

Many thanks to the people who I've mentioned, and of course to Tradingview!
(Without the Earth nothing can grow)

Cheers!

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

500 coins
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Awesome!
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fikira Chase37
@Chase37, Thank you!
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Amazing !
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fikira ichimokuakademi
@ichimokuakademi, Thanks!
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fikira bappykhalidhasan0
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This publication is now featured in our Editors' Picks: https://www.tradingview.com/scripts/editors-picks/ .
In the name of all TradingViewers, thank you for your valuable contribution to the community, and congrats!
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fikira PineCoders
@PineCoders, Thank you so very much! Appreciate it!
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