Correlation RS (Indicator)
DisclaimerInput Information
| Name | Expression | Default | Description |
| SecondSymbol | String | "SPY" | Symbol to which correlation is to be measured. |
| CorrelLength | Numeric | 14 | Number of bars over which to calculate the correlation. |
| PosCorrAlert | Numeric | 0.7 | Positive correlation value that will generate an alert. |
| NegCorrAlert | Numeric | -0.7 | Negative correlation value that will generate an alert. |
| LoadedStateColor | Color | DarkGreen | Color to use in RadarScreen for plotting a message when the data state is 'loaded'. |
| NotLoadedStateColor | Color | DarkRed | Color to use in RadarScreen for plotting a message when the data state is something other than 'loaded'. |
Market Synopsis
Th Correlation RS indicator plots the correlation of the symbol to which the indicator is applied and a user-specified second symbol. The correlation is calculated over a user-specified number of bars.
This study cannot be used tick, volume, or advanced bars. A grid-based (RadarScreen) indicator.
Plot Information
| Number | Name | Default Color | Description |
| Plot1 | 2ndSym | System | Name of correlation symbol. |
| Plot2 | DataState | System | Loaded state message text. |
| Plot3 | Correlation | Cyan | Calculated correlation value |