And I get idea to make correlation indicator based on market volatility. The main principle of this indicator to compare the mayor pairs volatility. And therefore the formula that I use is so simple. Take the difference between current price and Moving Average of Median Price and then divide by current ATR.
The Indicator has 2 input variables for Mayor Pair that will be measured. By default it will measure the EURUSD and USDCHF pair. These pair should form a negative correlation that if EURUSD showing a positive number then USDCHF should show negative number. This is will be formed by two lines that make us easy seeing the correlation.
The histogram is the difference (absolute value) between both lines. I have tested to change CK_Speed indicator in VS_EURCHF, and showing better result, however the result on VS_EUROCROSS is worst then using CK_Speed indicator.
VSCorrelation
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