Disliked{quote} Hi Kirkleaforex, If you advise what is the basis of calcualtion then we can think of using this indicator for trading: MT5 indicator coded by PipPod says the indicator plots the correlation between eight currencies calculated from twelve symbols with one of the following indicators: Moving Average Moving Average Convergence/Divergence Stochastic Oscillator Relative Strength Index Commodity Channel Index Relative Vigour Index DeMarker Oscillator Momentum Index Triple Exponential Index Your indicator MT4 relies relies on which calculation...Ignored
It appears quite different in some respects, and I am actually liking the MT5 one a little more...notice how when there was little market movement during the greyed-in section on MT5, the effect was a tight-knit cluster of up and down movement close to the zero line, where on MT4 it certainly doesn't show this at all.
On the other hand, the MT4 correl8 indicator picks up the downward move quite nicely just before this greyed-in section, whereas MT5 indi hasn't seemed to notice this much.
What I am not a fan of is the rounding effect of the lines in PipPod's indicator which to me blurs the points at which some of the candles start and end in the window 2 display...not all but it could be slightly confusing. For some others they might prefer it. I think I will stick with MT4 for now, but thanks for bringing it to my attention.
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