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.

Release Notes: Change Input date value to 3rd July 2020 by default & minor color improvements.
Release Notes: Change label position to the right for better visualization
Release Notes: Changed ARS Date Value to 24th Sept 2020 by Default.
Release Notes: Added Simple Moving Average for a better decision of underperformance and outperformance.
Release Notes: - Added 2 EMA selection by default of 21 & 55.
- Color Enhancement
Release Notes: Updated by Default date to 24th Sept 2020
Protected script
This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
Want to use this script on a chart?

Comments

Thank you @HB5. I am a new student, hence a few questions. What is the meaning of colur red and purple? Does one have to change the date of ARS which is 3rd July at this time or will this change automatically? Thank you.
+5 Reply
HB5 culturalDealer79974
@culturalDealer79974, Date will not change automatically, Line plot will be red before the given date and it became yellow after the given date in the spread chart. It's just a visual-only to identify the date on the plot.
Reply
Superb Sir...
+1 Reply
Nice, Always love you bro #RSWARRIORS.
Reply
Thanks a Lot @HB5.#RS Warrior. Definitely a very helpful toll in TA.
Reply
Please move label of value to little below so one can read it easily. Value of 47.73 is difficult to read. It also do not appear beside indicator label.
Reply
how to check my stock?
Reply
HB5 dats2702
@dats2702, Didn't get your point, Sir, Could you please elaborate more. Thank you :)
Reply
How to add to my favorite and how to see other scripts. I had no idea about this spread charts
Reply
HB5 n1235
@n1235, You can add this to a favorite from the script page itself Just scroll above and you can see the add to favorite option. A spread chart means the script value divide by some other script or index. Check the indicator description for more information.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out