In Metastock 8, Hit F1 and type in Correlation.
There's a number of different ways of doing this.
You can use Correlation on a chart or use it as part of a formula ( correl() ).
You need to tell it how many samples to look back on too and what sort of averaging to do on the samples to make them smoother.
+1 = positive correlation (ie both move in the same direction). -1 = negative correlation (ie they move in opposite directions) and in-between is a less confident measure of each.
Also, check out the SECURITY feature now present in Metastock v8. Allows you to reference a fixed security in an indicator (good for explorers).
- Forums
- General
- help from a metastock expert
help from a metastock expert, page-2
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)