Want ms indicator

rkkarnani

Well-Known Member
#2
0.60 FORUMULA IS

=ABS(CORREL(A2:A11,B2:B11))

I want this in indicator. The period must be changable.

B VALUE IS CLOSE
So sorry, hardly know anything about creating a new one! :p
The best I could do till date was to tweak an existing one!
Forgetting the name , but there is one member well versed with Metastock.
I will post it when I remember it.
 

rkkarnani

Well-Known Member
#6
How to plot the correlation between the price and an indicator?

How to plot the correlation between the price and an indicator?

You use the correlation indicator for two graphs in the same chart as follows:

Display a chart, maybe of IBM.

Plot an Indicator in the IBM chart, maybe Price ROC. You should now see the price graph for IBM in one inner window of the IBM chart and the Price ROC indicator in another inner window of the IBM chart.

Hold down the SHIFT key on the keyboard and continue holding the SHIFT key while you click the IBM price graph and the Price ROC graph.� You should now see black selection boxes appear on both the IBM price graph and the Price ROC indicator. The black selection boxes indicate an item is selected. In this example two items are selected and you should see the black selection boxes on both the IBM price graph and the Price ROC graph to indicate this double selection.

Continue holding the SHIFT key and drag Correlation out of the Indicator QuickList and drop it into a third inner window in the IBM chart.� The Correlation Indicator will now use the values of two selected items on the screen to calculate Correlation.
 

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