Indicator - R² - correlation rate
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Definition R² or correlation rate
This indicator is able to confirm the trend. It is good to use this indicator with the linear regression slope which specifies the direction of the trend.
According to the period used, Rsquared is compared with a certain level N
Practical aspect R² or correlation rate
When the slope of linear regression rises above the 0 level (and there is an uptrend) and Rsquared rises above this level, the trend is confirmed.
The Rsquared could confirm the trend displayed by the linear regression slope. \n It can also be used with other indicators.
