PPMCC Indicator
Platform: MT5 Type: Oscillator Last update: August 12, 2024The PPMCC shortcut means Pearson Product-Moment Correlation Coefficient (Pearson’s PCC).
That tool displays the linear relation between the moving average values of two forex pairs with values ranging from -1 to +1. When the chart is above zero, a positive correlation is marked. Correlation is negative below zero. Zero indicates that there is no correlation.
These are five input parameters:
Period – MA calculation period
First symbol name – the name of the first financial instrument
First symbol applied price – the calculation price of the first financial instrument
Second symbol name – the name of the second financial instrument
Second symbol applied price – the calculation price of the second financial instrument
If an invalid symbol name is used (for the first symbol, the second one, or both), the indicator prints a message to the log and is unloaded with an error.
