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.

Want to use this script on a chart?

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