I found an indicator for MT4 called "Pirson and Spearman correlation indicator". Maybe "Pirson" is an error of transcription and they actually mean "pearson".
I would like to know how it works. I find the following link https://forexobroker.com/pirson-and-spearman-correlation-indicator/, but its explanation isn't very clear to me.
Thanks

just the fact that they misspell Pearson into Pirson tells you what kind of "quality" research went into creating this forex indicator.

Perhaps it was supposed to be "Prison"

I spent a little time to think about and I suppose that in general indicators based on Spearman index could rely on a confrontation between a certain number of close prices ranked from the minor to the major and the same prices taken as they appear on the chart. The upper range correspond to a overbought level and vice versa.

Gianni,

Price and returns are continuous variables, so Pearson should be used to evaluate the correlation between two variables. Spearman is used for ordinal variables, i.e., ranked data.

Not sure if this indicator is of any value...

Cyberjoe

Cyberjoe 

Gianni, Price and returns are continuous variables, so Pearson should be used to evaluate the correlation between two variables. Spearman is used for ordinal variables, i.e., ranked data. Not sure if this indicator is of any value... Cyberjoe

Thank you for your response.