Conceptual indicator based on trying to find an inverse correlation between bitcoin and traditional markets due to bitcoin's usefulness as a hedge against economic downturns.
How to use this script: you look at it and see if there is a correlation or not between bitcoin/Ethereum price and either U.S. stock CVi, buy volume, sell volume, calls, puts, or the call/put ratio.
Detects if there is a correlation between two securities. It shows a positive level when they have been moving together and a negative level when they have been moving in opposite directions.
Pretty viz of how correlated/uncorrelated price of coins BTC ETH LTC BCH are on GDAX.
From the ref:
"Correlation coefficient. Describes the degree to which two series tend to deviate from their sma values."
A port of the trading strategy described at technical.traders.com
"In “Trading The Loonie,” which appeared in the December 2015 issue of STOCKS & COMMODITIES, author Markos Katsanos
explains the heavy correlation between the Canadian dollar and crude oil. He then goes on to describe how one could
trade this correlation. Using similar logic as that employed in...
Fundamentals
The idea for this script is based on Fundamentals.
I wanted to verify the strength/weakness of the US dollar against other major economies
This will keep me on the right side of the "trend" .. bullish or bearish ?
In short, because Fundamentals Analysis are reflected via economic updates which influences what the price will be doing for the next...
This is my latest attempt to show price movement differences between symbols. I want to see the buying and selling pressure... is that price movement going with the market or is it moving alone? It's VERY interesting to watch this indicator and see how things play out!
In my previous versions the arrows on the chart were too much clutter, while the single row of...
"CoCo World" helps to answer the following question... Is this stock moving alone or with other markets? No stock is an island, so it's important to see what everyone else is doing!
With limited screen real estate, I want to see as much info as possible as I'm evaluating US equities and deciding to pull the trigger to buy and sell. My "CoCo World" indicator...
Power oscillator to discern what currency's are stronger/weaker.
added option to use a smoothed source(close) for pooling the change, giving longer term directional bias, note that this causes lag in the results as MA's turn slower than price.
![BTCUSD: U.S. Stocks & Options CVI to Bitcoin Correlation [NeoButane]](https://s3.tradingview.com/d/dRbyvCr8_mid.png "U.S. Stocks & Options CVI to Bitcoin Correlation [NeoButane]")
![EURUSD: [RS]Multiple Majors Currency Basket Power Oscillator V1](https://s3.tradingview.com/a/acRbNhH8_mid.png "[RS]Multiple Majors Currency Basket Power Oscillator V1")
![EURUSD: [RS]Multiple Majors Currency Basket Power Oscillator V0](https://s3.tradingview.com/j/JdOl7oYm_mid.png "[RS]Multiple Majors Currency Basket Power Oscillator V0")
![EURUSD: [RS]Power Correlation Oscillator (GOLD) V0](https://s3.tradingview.com/o/oNNVAWjw_mid.png "[RS]Power Correlation Oscillator (GOLD) V0")
![EURUSD: [RS]Power Correlation Oscillator (DOLLAR) V0](https://s3.tradingview.com/h/hWh8q7C4_mid.png "[RS]Power Correlation Oscillator (DOLLAR) V0")
![EURUSD: [RS]Power Correlation Oscillator (EURO) V1](https://s3.tradingview.com/b/BXfjHdlj_mid.png "[RS]Power Correlation Oscillator (EURO) V1")