iBeta Indicator

iBeta Indicator represents the number of indicators in the same, ie, the same indicator can be operated in different modes that the user chooses, it may be, for example, correlation or covariance of the two characters.
In fact, the number of modes the indicator is not 2, 4, and they sound like: covariance , beta symbol 1 , symbol 2 beta and correlation . In this case, under the phrases "symbol 1" and "character 2" refers to the name of currency instruments, which tells the user in the settings of this indicator.

But the work of this indicator is not limited just with 4 modes, the calculations of these modes can be done in different ways, namely relying on a different value for money. First, the calculation can be performed directly at a price that will tell the user, but the price may be selected from 7-proposed, namely: Close , Open , High , Low , Median , Typical and Weighted .

Second, the calculation can be done not by the very price and the value of the ROC and ROC% . ROC - the difference between the present and the past value prices, and ROC% - a ratio of the difference of present and past values ​​of prices to past value for money. Thus, this indicator allows any user to get from this indicator is exactly what the user wanted to originally, because the breadth of options allows anyone to configure this indicator is for yourself and for your needs.

An indicator:

Periods - the number of bars (candles) for the calculations;
Symbol1 - name of the first foreign exchange instrument;
Symbol2 - name of the second monetary instrument;
Mode1 - mode indicator and calculations:
0 - covariance
1 - beta symbol 1,
2 - beta symbol 2
3 - correlation;
Price - the price at which calculated the remaining parameters of the indicator:
0 - Close,
1 - Open,
2 - High,
3 - Low,
4 - Median,
5 - Typical,
6 - Weighted;
Mode2 - values ​​that are used to calculate the indicator:
0 - for a price
1 - ROC value of the price
2 - the value of ROC% of the price.

The use of the trade:

trade can be used with such a good thing as correlation, because a good correlation with the movement of one can predict currency movements on the basis of an instrument of another at the same time frame and in more than half of cases, these "predictions" come true, which in turn increases the effectiveness of any trading system.
Well as any trader will be able to find their patterns in the indicators and graphs based on them and build your profitable trading system.

Download indicator for MT4 iBeta