- March 14, 2023
- Posted by: Forex Wiki Team
- Category: Free Forex Indicators
Forex Pair Correlation Calculator Review
As a trader, you know that one of the keys to success in the market is having the right tools at your disposal. And when it comes to trading Forex, stocks, commodities, and cryptocurrencies, one tool that you can’t afford to overlook is the Forex Correlation Calculator. This powerful indicator allows you to compare price correlations on up to three different instruments simultaneously, giving you a deeper understanding of the market and enabling you to make more informed trading decisions.
Best Brokers List
The Forex Pair Correlation Calculator works with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:
|BROKER NAME||REGISTER||Year Founded||Headquartered||Leverage||Minimum Deposit||Regulating|
|1:1000||$5||ASIC, CySEC , IFSC|
🇧🇸 The Bahamas
|1:1000||$200||ASIC, SCB, FSA|
|1:Unlimited||$10||CySEC, FCA, FSCA, FSA, BVI|
|1:500||$200||FCA , ASIC, DFSA|
|1:500||$25||regulated by CySEC|
|1:400||$100||CBI, CSEC, PFSA, ASIC, BVIFSC, FFAJ, SAFSCA,ADGM, ISA|
Forex Pair Correlation Calculator Settings
One of the best things about the Forex Correlation Calculator is that it works on a variety of instruments. Whether you’re trading Forex, stocks, commodities, or cryptocurrencies, this indicator can help you to identify correlations and make sense of market movements. However, there is one requirement that you need to be aware of: each instrument must be on the same exchange so that their trading hours match. This ensures that you get accurate results and can trade with confidence.
Once you’ve got the Forex Correlation Calculator up and running, you’ll be able to trade many different strategies, from scalping to hedging to simple trend-following. One of the key features of this indicator is the ability to signal when all three pairs correlate on the same side of a particular moving average. This can be a powerful tool for traders who are looking to capitalize on market trends and make more profitable trades.
In order to use the Forex Correlation Calculator effectively, there are a few key terms that you should be familiar with. First, there’s the “IMA,” which stands for “Independent Moving Average.” This is a moving average that’s calculated based on the price of a single currency pair. Next, there’s the “CMA,” which stands for “Combined Moving Average.” This is a moving average that’s calculated based on the average price of two or three currency pairs. Finally, there’s the “Average Trend” of all correlation, which is simply the average correlation between all the pairs you’re tracking.
Average trend between EUR/USD, EUR/CAD, and EUR/AUD
average trend of EUR/USD, EUR/GBP, and EUR/CHF.
One of the most useful features of the Forex Correlation Calculator is the “Histogram.” This is a visual representation of the correlation between different currency pairs, and it can help you to quickly identify trends and potential trading opportunities. By analyzing the histogram, you can see at a glance which pairs are highly correlated and which ones are moving in opposite directions.
If you’re serious about trading Forex, stocks, commodities, or cryptocurrencies, the Forex Correlation Calculator is an essential tool that you simply can’t afford to overlook. By allowing you to compare price correlations on up to three different instruments simultaneously, this indicator can help you to identify market trends, make more informed trading decisions, and ultimately achieve greater success in the market. So why not give it a try today and see how it can help you to take your trading to the next level?
Forex Pair Correlation Calculator Free Download
We highly recommend trying the Forex Pair Correlation Calculator with ICMarket demo account. Also, familiarize yourself with and understand how this system works before using it on a live account.
Indicator + Full guide in downloading files