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Divergence Between Instruments

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    Divergence Between Instruments

    Is there an indicator which shows the net correlation or divergence between two instruments?

    #2
    The correlation indicator will plot the correlation of the data series to a desired instrument. Values close to 1 indicate movement in the same direction. Values close to -1 indicate movement in opposite directions. Values near 0 indicate no correlation.

    Here is an example of the correlation indicator applied to an ES 12-19 chart correlating the NQ 12-19:

    https://www.screencast.com/t/7GX8ZHND
    Patrick G.NinjaTrader Customer Service

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      #3
      Hi Patrick, Where can I find this indicator? I couldn't find from my current NT8.

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        #4
        It's built into NinjaTrader if you're using 8.0.19.0 or later. If you need to update, please follow the steps below.
        • First, copy your license key from NinjaTrader under Help> License Key then exit NinjaTrader
        • Click on the link: http://ninjatrader.com/PlatformDirect
        • Enter your license key and press Submit
        • Select 'NinjaTrader 8'
        • Select 'Download'
        • Critical: Before running the installer, ensure NinjaTrader is closed.
        Patrick G.NinjaTrader Customer Service

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