Charting stocks relative to something else

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  • 09/13/2019 at 10:24 AM #107423 quote
    Noughtboy
    Participant
    New

    Hello,

    I was wondering if it is possible to chart one code relative to another to see an under/out performance. For example South African Gold price relative to the ZAR gold price or one bank relative to another or an index.

    Essentially, lets say AAL/BLT or AMS/(XPTUSD*USDZAR) or even HSBA/UKX

    Thanks

    09/13/2019 at 10:36 AM #107425 quote
    Nicolas
    Keymaster
    Master

    You can do that with the spread chart tool available in the Display menu or with CTRL+R (Windows).

    [youtube]https://youtu.be/dX_pi7JrZ_Y?list=PLGw_ZtCHrQ9jKsTZgTsSXVKmCsD59dFgY[/youtube]

    Noughtboy thanked this post
    09/13/2019 at 11:31 AM #107437 quote
    Noughtboy
    Participant
    New

    Hello Nicholas,

     

    That does work…do an extent. However, in the case of charting a stock relative to the local price of the commodity, I cannot use the saved spread as an input reference for one of the relatives.

    So, I could get a spread of AMS to XPTUSD. However, I cannot then use this to chart the relative of [AMS/XPTUSD] / [XPTUSD*USDZAR] –

    or in simple terms, the price movement of Anglo American Platinum (AMS) relative to the Platinum price in South African Rand (ZAR). The formula would be AMS/(XPTUSD*USDZAR)

    I cannot use a coefficient as the currency price is not fixed and constantly moves around. If there was a third (or more) stock code available, I could probably do this (BODMAS?). However, I cannot add a third one nor am I able to reference a personal spread already calculated.

    Many thanks

    09/13/2019 at 2:24 PM #107472 quote
    Nicolas
    Keymaster
    Master

    That’s right, you can’t use a created spread instrument to be compared to another one. There’s no possibility to have 3 different instruments in the same spread chart calculation, sorry.

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Charting stocks relative to something else


Platform Support: Charts, Data & Broker Setup

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Noughtboy @noughtboy Participant
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This topic contains 3 replies,
has 2 voices, and was last updated by Nicolas
6 years, 5 months ago.

Topic Details
Forum: Platform Support: Charts, Data & Broker Setup
Language: English
Started: 09/13/2019
Status: Active
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