Divergence Between Instruments

[StevenNelson]

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

[NinjaTrader_PatrickG]

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

[ManIp]

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

[NinjaTrader_PatrickG]

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.

[satmatw]

How do we set this up - it is not working for me see the screenshot

[NinjaTrader_ChristopherJ]

How do we set this up - it is not working for me see the screenshot

For the Correlation indicator to plot within the indicator Instrument please enter the symbol ES 03-24 as opposed to ES.

Let me know if I may be of further assistance.