pp m c c
Info
The pp m c c is a Indicator for MetaTrader 5 that pearson product-moment correlation coefficient (pearson's pcc) displays the linear relation between the moving average values of two instruments ranging from -1 to +1. when the chart is above zero, a positive correlation is marked.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use pp m c c
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
pearson product-moment correlation coefficient (pearson's pcc) displays the linear relation between the moving average values of two instruments ranging from -1 to +1.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Quantora Account Health Monitor MT5 - Professional Account Health and Risk Monitor - another powerful indicator for MetaTrader 5 traders.
Also recommended: Quantora Trading Session Monitor MT5 - Professional Market Session and Activity Monitor - similar indicator with strong performance on MetaTrader 5.
pearson product-moment correlation coefficient (pearson's pcc) displays the linear relation between the moving average values of two instruments 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.the indicator has 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.
the first symbol in the settings can differ from the one the indicator is running on. in this case the indicator values will be updated only after the arrival of a new tick of the symbol, which the indicator is running on. to display the line, the indicator needs the history of the symbols it is working with. if the required history is not available, the indicator first downloads the necessary history, and then displays the line after the arrival of a tick on the symbol on which it is running.
fig.1. eurusd/usdjpy
fig.2. eurcad/audusd
fig.3. gbpusd/eurgbp
You may also like: Quantora Symbol Information Dashboard MT5 - Professional Symbol and Trading Specifications Panel - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.