Spearman’s Rank Correlation Indicator is a useful and popular free Forex indicator for MT4 platforms. The indicator plots a line on the chart that reflects the correlation between the two assets and can range from -1 to +1. A reading of -1 indicates a perfect negative correlation, while a reading of +1 indicates a perfect positive correlation. The Spearman’s Rank Correlation Indicator is a versatile and easy-to-use tool that can be used to identify correlations between financial assets.
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