Spearman Rank Correlation Histogram Alerts for Breakout Signals

Summary

This document describes an alert-enabled version of a Spearman rank correlation histogram indicator. It can notify a trader when the histogram crosses zero, breaks through an overbought or oversold threshold, or exits one of those extreme zones. The alert options include sound, email, and push notifications, with inputs to choose the signal bar and number of alerts.

The document provides figure captions describing a zero breakout and an alert, but no performance tests or rules for entering and exiting trades. It also notes that the indicator depends on a smoothing library installed in the platform's include folder. The material explains signal notification settings rather than establishing whether the signals are profitable or suitable for a particular market or timeframe.

Key ideas

• The indicator can alert on histogram zero crossings and overbought or oversold threshold events.
• Signals can be configured to notify through sound, email, or mobile push messages.
• Inputs control which bar activates a signal and how many alerts are issued.
• The indicator relies on a separate smoothing library.
• The document gives no evidence that the alerts produce profitable trades.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.