OPEN-SOURCE SCRIPT
Ticker vs Index
I was exploring a simple idea how I can visualize the ticker performance against the underlying Index (or any other ticker) performance.
how it works:
When the line is moving up (blue zone), the ticker is performing better than the underlying index (e.g. SPX)(configurable).
When the line is moving down (red zone), the ticker is performing worse than the underlying index.
How to use it:
Use as confirmation always in conjunction with other (main) indicators, avoid "buy" when indicator is in the red zone
Also, crossing over the zero line is often an indication for an upcoming upward move
Try to different SMA length - default is 20 but 10 was often showing better results
(No financial advise, for testing purposes only)
how it works:
When the line is moving up (blue zone), the ticker is performing better than the underlying index (e.g. SPX)(configurable).
When the line is moving down (red zone), the ticker is performing worse than the underlying index.
How to use it:
Use as confirmation always in conjunction with other (main) indicators, avoid "buy" when indicator is in the red zone
Also, crossing over the zero line is often an indication for an upcoming upward move
Try to different SMA length - default is 20 but 10 was often showing better results
(No financial advise, for testing purposes only)
Script open-source
In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
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