lvturner

BTC Correlation

A simple script to display how correlated the current ticker is to Bitcoin .

Inputs are the number of bars to check correlation for (default 10) and the the ticker to use for BTC comparison (default is BITFINEX:BTCUSD)

Values of 1 are highly correlated (i.e. bitcoin moves up, so does your current ticker), values of -1 are inversely correlated (i.e. bitcoin moves up, your current ticker moves down).


See: https://www.babypips.com/learn/forex/wha... for some more details on correlation
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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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