HB5

Spread Chart

This study does a division ("/") between the ticker to benchmark symbol works for all the time frames.

Often referred to as spread charts or ratio charts this is often used to measure the strength and performance of a script v/s a benchmark index. In this study, the comparison is plotted from a fixed reference session. On the current bar, the percentage change of the current ratio to the reference ratio is displayed as a label down icon, rounded to nearest 2 digit float value.

There are options to plot either a candle plot or line plot. Line chart can be plot as 2 different color before reference date and after reference date. The reference date can also be changed from the input dialog.

In the example above, 03-Jul-2020 is chosen as the reference date. At the latest bar, the "47.73%" displays the percentage difference between ratio on 03-July-2020 and current date, 27-Nov-2020. This means Deepak Nitrate performed 47.73% better than the benchmark NIFTY50 since 03-Jul-2020.

Basically, It gives an study that shows the strength or weakness of a ticker in comparison to benchmark symbol.

版本注释: Change Input date value to 3rd July 2020 by default & minor color improvements.
版本注释: Change label position to the right for better visualization
版本注释: Changed ARS Date Value to 24th Sept 2020 by Default.
版本注释: Added Simple Moving Average for a better decision of underperformance and outperformance.
版本注释: - Added 2 EMA selection by default of 21 & 55.
- Color Enhancement
版本注释: Updated by Default date to 24th Sept 2020
版本注释: Default Date changed to 22/12/2020
版本注释: Changed the input date format & added Lable Show/Hide checkbox.
版本注释: Minor bug fixes...
版本注释: Pine v5
版本注释: Date Updated

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