Smoothed Bar to Bar Correlation

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Smoothed Bar to Bar Correlation

The Smoothed Correlation Indicator provides an indication of price trending and ranging through a bar to bar correlation coefficient. A indicator value approaching one is an indication of up or down trending. An indicator value approaching 0 is an indication of price ranging. A negative indicator value suggests whipsawing price action.

The correlation period is set by the CorrPer input and the smoothing period is set by the SmthPeriod input.


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