Correlation/Relative value indicator expressed in PnL

There are two default indicators in ThinkorSwim that may be able to help you out. One is called Correlation and the other one is called Comparison.
 
Thanks for the tip, but unfortunately those do not show what is intended by the edge indicator so I would not be able to take advantage of the info they display. I am looking around trying to see if someone can code it, but programmers need more info to see what they are based on, some of the criteria is not known, like all the factors that are taken into account for its coding, which makes it difficult to explain...Well, I hope to get to the bottom of it in one way or another...
 
There's no edge in that indicator.
quite the contrary. futures spread trading on correlations (otherwise known as relative value trading) are one of the smartest ways to trade futures with very low risk. i expect that the indicator quoted by @Val above assists in identifying broken correlations in otherwise highly correlated instruments.
 
quite the contrary. futures spread trading on correlations (otherwise known as relative value trading) are one of the smartest ways to trade futures with very low risk. i expect that the indicator quoted by @Val above assists in identifying broken correlations in otherwise highly correlated instruments.
Can you make it?
 

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

Thread starter Similar threads Forum Replies Date
BenTen Futures Correlation Indicator for ThinkorSwim Index Futures 1

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
504 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top