Spearman Rank Indicator
Spearman Rank Indicator is an oscillator filter tool, which is made to prevent false trend signals during trading. It is a statistical anabolic for any consistent trading strategy as it values how well the relationship between past data can be described. Why is it important to monitor a history data? The answer is that no one knows a future data, only estimations, that are fed by numbers of indicators, available online. However it is extremely important to figure out correct price movement, and this is a place where Spearman Rank Indicator comes into play. A prove of signal arises once Spearman’s line reaches +1 value or opposite in case of value becomes closer to -1. If it varies around 0, it is worth to avoid trade signal entry.