EQUITYFRAME is a ProBuilder function used exclusively within the ProScreener tool to specify a particular security from a specific market. This function is essential for comparing the performance or characteristics of one security against others within the same market context.

Syntax:

EQUITYFRAME("market", "ticker")

Purpose:
The primary purpose of the EQUITYFRAME function is to allow users to focus on a specific security within a given market. This is particularly useful when conducting comparative analyses or creating custom screeners that involve multiple securities.

Example:

Let’s say you want to compare the daily relative strength of Amazon (AMZN) on NASDAQ to the overall NASDAQ index. You can use the EQUITYFRAME function to isolate the closing prices of AMZN and the NASDAQ index, and then compute the relative strength:

TIMEFRAME(daily)
CloseVal = Close
EQUITYFRAME("NASDAQ", "AMZN")
CloseInd = Close
EQUITYFRAME(default)
Ratio = (CloseVal / CloseInd) * 100
RelativeStrength = (Ratio - Ratio[1]) * 100
SCREENER(RelativeStrength AS "RelativeStrength")

Additional Information:

When using EQUITYFRAME, it is crucial to ensure that both securities are from the same market, as the function does not support cross-market comparisons. This function is particularly useful for creating screeners that track the performance of a security relative to its peers or a benchmark index.

Understanding how to effectively use EQUITYFRAME can enhance your screening strategies by providing precise control over the securities and markets you are analyzing.