Correlation Periodogram

📊 Analyzes correlation between currency pairs
🔔 Helps identify potential trading opportunities
🖥️ Non-repaint, beginner-friendly, free for MT4
⏱️ Works on multiple timeframes: M15-M30, H1-H4

The Correlation Periodogram is a free and popular MT4 indicator designed to help forex traders analyze the correlation between currency pairs. By measuring the strength and direction of correlations over a specified period, this tool provides valuable insights into market trends, enabling more informed trading decisions.

Key Features:

  • 🔹 Correlation Analysis: Calculates and displays the correlation coefficient between two selected currency pairs.

  • 🔹 Visual Representation: Provides a clear graphical view of correlation strength over time.

  • 🔹 Non-Repaint: Ensures accurate signals without retroactive changes.

  • 🔹 Timeframe Flexibility: Supports multiple timeframes, including M15-M30 and H1-H4, suitable for intraday and short-term trading.

  • 🔹 Beginner-Friendly: Easy to install and interpret, making it accessible to traders of all experience levels.

Benefits for Traders:

  • Identify Trading Opportunities: Helps spot currency pairs that move together or inversely, which can aid in hedging or pairing strategies.

  • Market Insight: Understand relationships between currency pairs to better anticipate market movements.

  • Improved Decision-Making: Use correlation data to make informed entries and exits, minimizing risk and maximizing potential profit.

  • Time-Saving: Quickly analyze correlations without manually comparing price charts.

The Correlation Periodogram MT4 Indicator is an essential tool for traders seeking to understand inter-market relationships and refine their forex trading strategies.

Input Settings & Controls

  • LPPeriod → Low-pass filter period, used to smooth data by filtering out short-term fluctuations.

  • HPPeriod → High-pass filter period, used to highlight short-term movements by filtering out long-term trends.

  • AvgLength → Number of periods used for averaging calculations.

  • LineColor → Color of the main indicator line.

  • Heat Map → Option to enable/disable heat map visualization.

  • Heat Map Bars → Number of bars to include in the heat map display.

Devices Supported

Device Type Operating System Compatibility with TradingView
💻 Windows Laptop/Desktop Windows XP / Vista / 7 / 8 / 8.1 / 10 / 11 ✅ Fully supported via app
🍏 MacBook / iMac macOS 10.15+ ✅ Fully supported via app
📱 Android / Mobile Android OS ❌ Not supported

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