Thursday, March 23, 2023

Spearman Rank Correlation Histogram with Alerts

The SpearmanRankCorrelation_Histogram indicator with the ability to send alerts, emails and push notifications when trading signals emerge. Possible signal options:

  • Zero breakthrough by the histogram;
  • Overbought or oversold levels breakthrough;
  • Exiting overbought or oversold areas.

Input parameters for activating signals:

input uint NumberofBar=1;          // Bar number for the signal activation
input bool SoundON=true;           // Enable alerts
input uint NumberofAlerts=2;       // Number of alerts
input bool EMailON=false;          // Enable mailing the signal
input bool PushON=false;           // Enable sending the signal to mobile devices

The indicator uses SmoothAlgorithms.mqh library classes (copy it to terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.

Fig.1. SpearmanRankCorrelation_Histogram_Alerts. Zero breakout on the first bar.
Fig.2. SpearmanRankCorrelation_Histogram_Alerts. Alert.