Pearsons R adjustments of linear regressions is a good tool to analyse visually the trend basis channeling of the market,
one of the common challenges in the scripts which i came across the tradingview community is the lack of the historic places put over the charts where the price actually crossed up/below the channel boundaries,
For me in order to do so we...
This is my "Pine-based" correlation() function written in raw Pine Script. Other names applied to it are "Pearson Correlation", "Pearson's r", and one I can never remember being "Pearson Product-Moment Correlation Coefficient(PPMCC)". There is two basic ways to utilize this script. One is checking correlation with another asset such as the S&P 500 (provided as a...
