The iCorrelation Table Indicator MT4 is an informational indicator for MetaTrader 4 and is designed to help analyze the correlation between currency pairs. It scans all pairs in the Market Watch list and displays a color-coded correlation table below the main chart. It calculates correlation separately for each timeframe, giving traders accurate data. The table shows correlation values from 1 to -1. Values above 0.7 or below -0.7 suggest strong positive or negative correlation between pairs. Red and blue highlights make these relationships easy to spot at a glance.
The indicator also adds a second smaller table next to main one. This one focuses on the selected asset and shows how it correlates with other pairs across the current timeframe. Unlike general trend tools, this indicator reveals relationship dynamics between markets. As a result, traders can confirm trend strength or catch early signs of divergence. Additionally, the indicator is customizable. Traders can adjust the CorPeriod setting to align with their preferred timeframe or strategy.
This indicator is suitable for traders of all skill levels and across all time frames. It is designed for use with any currency pair and integrates into any forex trading system or strategy, to analyze the correlation between currency pairs.
Indicator Settings
How to Install iCorrelation Table Indicator MT4
Download and extract files in the MetaTrader “Indicators” Data Folder found in the Main Menu File section:
The “Indicators” folder is located in the “MQL4” folder.
Restart MetaTrader Platform.
