PP M C C
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup 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.
Description & Settings
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
