alpha_6
Alpha#6
Type:
alpha_6• Category:flow
Description
Alpha#6 - an indicator based on the correlation between opening price and volume
Parameters
| Name | Type | Description | Required | Default |
|---|---|---|---|---|
open | array | List of opening prices | no | |
volume | array | List of volume | no |
Help
Overview
Alpha #6 is a technical indicator that quantifies the relationship between a security’s opening price and its trading volume. By computing the statistical correlation between these two series, the worker helps analysts assess whether price movements are supported correlation suggests that higher opening prices tend to coincide with larger volumes, whereas a negative correlation indicates the opposite. The result is a single numeric value ranging from –1 (perfect inverse correlation) to +1 (perfect direct correlation).
Inputs
- open – array – Sequential list of opening prices for the instrument under analysis.
- volume – array – Corresponding list of traded volumes for each period. The two arrays must be of equal length and aligned chronologically.
Example usage
# Prepare input data
open = [102.5, 103.0, 101.8, 102.2, 103.5]
volume = [1500, 1800, 1300, 1600, 1900]
# Call the worker
result = Alpha#6(open, volume)
# Expected output (illustrative)
# result = 0.68 # indicates a moderate positive correlation
In this minimal example, the opening‑price series and the volume series are passed directly to the worker. The returned value (result) represents the Pearson correlation coefficient, enabling quick interpretation of how closely price openings and trading activity move together.