Stock, Industry, Sector and Index on One Chart?
in SharpCharts
Is there a way of adding to a Stock's chart, a graph of it's Industry, Sector and index on the same chart, so that you can be reminded of the individual stock's momentum and trajectory within a wider context?
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Comments
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If you want to add a chart to your main chart, use the "Price" option under "Indicators" on the Chart Workbench, then enter the symbol you want to graph. Under Advanced Options, choose a chart style from the Style window.
Another approach is to graph the "price relative", which is essentially relative strength. Select the "Price - Performance" option (also under Indicators) and enter the symbol and the main chart first, then a colon (:), then the symbol for comparison. For instance, IBM:XLK compares IBM to the tech sector SPDR. When the line is generally rising, IBM is out-performing XLK. You can add an MA from the overlay window under advanced options - I use a 63 day (quarterly) MA.
If your subscription allows, you can find the $DJUS industry indexes under the "Industry Summary" in your "control center" (or maybe under "Free Charts") and the sector SPDRs under "Sector Summary".0 -
As an alternative, I use the $symbol, $industry, $sector to let Stockcharts plug in the appropriate things that I'm looking for. Only one it doesn't do it the Market. For that I put the comparative market of interest into the parameter.0
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Thanks a lot for the hints. This is very helpful. What does the percentages means?0
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Here's the documentation for Price Relative showing how the calculation is done.
https://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:price_relative
I can't find documentation for Price - Performance, but it seems to be a little different.
Price Relative (which is the Price indicator with a ratio parameter, e.g IBM:$SPX) and Price - Performance (which is a separate indicator from Price, but uses the same ratio parameter, like IBM:$SPX) produce identical indicator lines (you could overlay one on the other and you would see only one line), but they have different scales.
The Price Relative scale is usually a decimal value carried out to 3 or 4 places.
The Price Performance scale expresses the indicator value as a positive or negative per cent and it has a zero line.
The Price performance Indicator seems to express the over/under performance of the first symbol versus the second symbol SINCE THE FIRST BAR on the chart. If you change the length of the chart chart - say from 6 months to 3 months, the last (most current) indicator value changes.0 -
Thanks a lot for the answer..0
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