The Spearman Correlation indicator is a popular and useful tool for forex traders using MT4. This free indicator measures the strength of the relationship between two currency pairs. It works by calculating the correlation coefficient, indicating whether pairs move in the same direction or opposite directions. Traders can use this information to make more informed trading decisions.
- Author fx
- Creation date
More resources from fx
-
MT4 Misus EntryIdentify optimal entry points with clear buy and sell signals -
MT4 Pro4X Pivot LinesSpot key support and resistance with dynamic pivot lines -
MT4 Trend Direction IdentificationClearly identify bullish and bearish trends for smarter trading -
MT4 Waddah Attar TrendIdentify trends and potential reversals with reliable signals -
MT4 Average Change High LowMeasure price volatility and spot potential trend reversals