The calculation of correlation coefficient between two quotes charts of two currency pairs is performed (between the currency pair to whose chart the indicator is attached and the pair specified in the parameters of the indicator).
The followings are displayed in the indicator’s window:
- The chart of the correlation coefficient (you can disable its displaying as is shown on the mentioned pictures)
- The chart of the moving average related to the curve of the correlation coefficient (you can disable displaying)
- The average value of the correlation coefficient for the specified number of last bars
MT4 Indicator Download – Instructions
L Correlation is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
L Correlation provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install L Correlation.mq4?
- Download L Correlation.mq4
- Copy L Correlation.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on L Correlation.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator L Correlation.mq4 is available on your Chart
How to remove L Correlation.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: