Currency Pair Correlation Indicator

Forex Currency Strength Meter - Technical Indicator for Traders
The range of the correlation coefficient is between -1 and +1. A correlation of +1 indicates that two currency pairs will flow in the same direction. A correlation of -1 indicates that two currency pairs will move in the opposite direction 100% of the time.

Multi-Currency Correlation Indicator - Roulette TRADER
Correlation Pairs (1 & 2): These are the other currency pairs referenced by the indicator and their IMA values will be included in the CMA (Combined Moving Average). Their individual IMAs are IMA_1 and IMA_2 in the settings. They can either be displayed or hidden in the indicator field. Correlation Pair Settings

Understanding Currency Pairs Correlation for Forex Trading
Positive Correlation-Three of the most traded pairs in the Forex market -GBP/USD, AUD/USD, and EUR/USD are positively correlated with each other, as the counter currency is the US dollar. Therefore any change in the strength of the US dollar directly impacts the pair as a whole.

Using Forex Market Correlations as a Leading Indicator
Notice in the chart above, the degree of correlation between these currency pairs increases as the level of fear increases. This makes sense as each major currency is tied to the Japanese yen, which in turn is tied to risk sentiment or the level of fear in the markets.

Forex Correlation Strategy (TRADE FOREX CORRELATION)
FOREX CORRELATION STRATEGY RULES. Currency Pairs: Only for positive correlated currency pairs like EURUSD and GBPUSD. Timeframes: 15 minutes and above, lower timesframes are not really reliable. Additional Information: When two positively correlated pairs fall out of correlation at a major support or resistance level we can expect a reversal

Trading Strategy Based on Currency Pairs Correlation | FXSSI
Simply put, correlation in the Forex market is the measure of how synchronously currency pairs move. At that, the higher is the value of correlation, the longer the pairs move in unison. There is an inverse correlation where pairs move in unison but in the opposite directions, for example, EUR/USD and USD/CHF.

Free download of the 'Multi currency pair Indicator
This indicator watches the major currency pairs to find the status of the current candle (Bullish or Bearish) of USD, EUR, and GBP compared to other currencies such as EUR, JPY, GBP, CHF, AUD, and CAD. - Free download of the 'Multi currency pair Indicator' indicator by 'heao' for MetaTrader 4 in the MQL5 Code Base