This is a normalized correlation coefficient that can be used with any timeframe or symbol desired (found in the indicator settings). The normalization function makes the coefficient bound between 0-1. There is a subjective threshold at 0.80 where anything below the threshold tends to be higher risk in trading as opposed to above the threshold.
Suggestions: - Use a timeframe slightly higher than your current chart for optimal results. - Do not use as a standalone strategy, rather, use it as a layer of confirmation. - For altcoin cryptocurrencies, we suggest tethering the indicator to the "OTHERS" chart.
Release Notes
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Changed the length code from 252 to 40. Can be changed further by users.