Correlation Trend Indicator is a study that estimates the current direction and strength of a trend. It can be used to detect trend outbreaks or exhaustion. Correlation Trend Indicator uses Spearman correlation when estimating how closely the behavior of close prices correlates with a positive-slope straight line. This means that:

  • Values close to +1.0 signify uptrend conditions.
  • Values close to -1.0 signify downtrend conditions.
  • Values around 0.0 signify sideways-trend conditions. 

Input Parameters

Parameter Description
length The projected trend length.


Plot Description
R The CorrelationTrendIndicator plot.
ZeroLine The zero level.


*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.

  Past performance is no guarantee of future performance.