Reference Movement

This indicator shows close to close price movements of the current symbol and an other as a histogram.

It visualizes correlation between two symbols to help avoid counterproductive trading, diversify risk, etc.

Attach it to the current chart as many times as many correlated symbols you want to take into consideration, and specify them in the OtherSymbol input field. The wide red histogram shows the movements of the reference (other) symbol, and the narrow blue histogram shows the movements of the current (chart) symbol.