Rank: Advanced Member
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Joined: 3/25/2005(UTC)
Posts: 90
Location: London
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I would like to be able to display price y-axis on the left hand side of a chart and price as a % change as y-axis on the right hand side of a chart. I think people might wish either to select the first closing price on the chart as 0%; or the latest closing price as 100%. This would enable you to see quickly how volatile a stock is. You could quickly see the range in price as percentage.
A stock falling from 200 to 50 would scale as 0% to -75% if the percent-scale began at 0%, or it would show as 400% falling to 100% if scaled with the last closing price at 100%.
A stock rising from 50 to 200 would scale as 0% to +400% if the percent-scale began at 0%, or it would show as 25% rising to 100% if scaled with the last closing price set at 100%.
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Rank: Advanced Member
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Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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... or you could write an indicator to do this for you...
Sample 1:
The first value in the chart is the zero benchmark:
x:=ValueWhen(1,Cum(1)=1,C);
y:=100*(C-x)/x;
y;
Sample 2:
The last value in the chart is the benchmark:
x:=ValueWhen(1,Cum(1)=LastValue(Cum(1)),C);
y:=100*(C-x)/x;
y;
NOTE: These are untested as I am away from my MS machine at the moment - but you should be able to make a workable solution using this code as a guide. Perhaps you could combine the two and use an Input() function to allow the user to chose which method to use?
Hope this helps.
wabbit :D
P.S. Have you thought about using a normalisation algorithm to see similar results across multiple stocks? There has been some recent discussion here: http://forum.equis.com/viewtopic.php?t=2995
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Rank: Advanced Member
Groups: Registered, Registered Users, Unverified Users
Joined: 3/25/2005(UTC)
Posts: 90
Location: London
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Thank you very much for your indicator idea. I'd never have thought of it.
kind rgs and merry christmas
alphateam
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