Индикатор Форекс Spearman
Spearman
Description
The Spearman study is a technical indicator used for evaluation of trend strength and turning point detection. This study calculates Spearman's rank correlation coefficient in order to reveal correlation between actual price changes and extremely strong trend. The Spearman indicator registers two sets of data: prices of each bar during the specified period in their chronological order and the same prices sorted ascendingly. Spearman's ratio found for these two sets is then multiplied by ; value of + suggests strong correlation with uptrend and , with downtrend.
Since the extreme values of and + are rarely recorded, values of +80 and might be used as overbought and oversold levels respectively. Plotting the Spearman indicator along with its short SMA (e.g., three day SMA on daily charts) might give an idea when to expect the turning points: look for the crossovers of the two plots. Useful information can also be obtained by analyzing action of the indicator in relation to zero level: crossing above the zero level might be an opportunity for the Long Entry while falling below zero might suggest the Short Exit.
Input Parameters
| Parameter | Description |
|---|---|
| The price to be used in calculation of Spearman's ratio. | |
| The number of bars in the period on which the prices are registered. | |
| Defines period of SMA of Spearman indicator. | |
| Defines value of the overbought level. | |
| Defines value of the oversold level. |
Plots
| Plot | Description |
|---|---|
| The Spearman plot. | |
| The SMA of Spearman indicator. | |
| The overbought level. | |
| The zero level. | |
| The oversold level. |
Further Reading
1. "The Spearman Indicator for Technical Analysis" by Dan Valcu. Technical Analysis of Stocks & Commodities, February
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.
FourierSeriesIndicator
The Fourier Series Indicator performs the Fourier transform on the price data based on the first three harmonics extracted by the Bandpass Filter. The output data is a waveshape plot synthesized from the extracted harmonics. The recreated waveshape can help identify price cycles.
In addition to the primary waveshape plot, the Fourier Series Indicator calculates its rate of change. When the rate of change crosses the zero level, the wave could be taking a turn signifying a possible trend reversal.
Input Parameters
| Parameter | Description |
|---|---|
| The amount of bars in the primary cyclic component in the data. | |
| The tolerance of the measurement of the cycle period. |
Plots
| Plot | Description |
|---|---|
| The Fourier series-synthesized waveshape. | |
| The waveshape's rate of change. | |
| The zero level. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.
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(downloadable file Spearman eunic-brussels.eu contains Spearman eunic-brussels.eu4 and Spearman eunic-brussels.eu4)
Free Download Spearman correlation mt4 indicator 
How to install Spearman correlation in forex trading platform metatrader 4?
- Extract the downloaded Spearman eunic-brussels.eu
- Go to “File menu” in Mt4 trading platform and click “open data folder”. Open Mql4 folder and open the indicators folder.
- Now paste the Spearman eunic-brussels.eu4 and Spearman eunic-brussels.eu4 files into indicators folder and restart the MetaTrader 4.
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