spearman

Function Name: spearman

Tags: None

Category: Momentum

This indicator is a very old statistical tool that even to this day helps determine trend strength and turning points. The concept was originally proposed in 1904: the Spearman's rank correlation coefficient, also known as the Spearman indicator. It is a statistical measure for the strength of association between two variables and computes the degree of correlation between the ranks of the elements in two data groups of equal size. The Spearman indicator can be used to determine trend intensity and turning points. The author Dan Valcu believes that values above +80 warn about possible tops, while values below -80 point to approaching lows.

 

Source: Stocks & Commodities, February 2011: "The Spearman Indicator for Technical Analysis"

 

 

Period
	Default Value: 10  |  Minimum: 2  |  Maximum: 100
	Type: Numeric