Comparing Tickers with Period-Anchored, Percentage-Scaled Candles
Summary
This indicator overlays up to three other symbols as candles on a selected chart. To make unlike price scales comparable, it measures each symbol’s open, high, low, and close as percentage changes from its open at the chosen anchoring period, then maps those changes onto the main chart’s period open. The period is configurable, with a daily interval as the default. Labels can show ticker, price, percentage change, and net price change; session boundaries and the main chart’s period open are also available for context.
The display supports visual comparison of relative performance and intraperiod moves, such as identifying which overlaid ticker gained most or retreated from a high. It can be used across different markets and anchoring intervals, but the examples are illustrative rather than a systematic study. Similar movement on a chart does not establish a stable relationship, predictive signal, or tradable pair. Comparisons also depend on aligned symbol data and session definitions, so the overlay is best treated as a visualization aid rather than evidence of correlation or portfolio performance.
Key ideas
- Percentage changes from each symbol’s period open allow prices with different nominal scales to share a chart.
- The scaled OHLC values are anchored to the main chart’s open for the same period.
- Users can compare up to three additional symbols and display selected performance labels.
- The overlay supports visual comparison but does not demonstrate predictive relationships or trading returns.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.