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technical_indicators:price_relative [2019/06/24 19:39] 127.0.0.1 external edit |
technical_indicators:price_relative [2019/09/10 21:19] betseyp [Using with SharpCharts] |
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| - | The Price Relative indicator is simply the base security divided by the comparative security. Typically, the underlying security is a stock and the benchmark is the S&P 500. For example, chartists can use the Price Relative to show the performance of Starbucks (SBUX) relative to the S&P 500 ($SPX). This would simply be the price of Starbucks divided by the S&P 500. Starbucks is part of the consumer discretionary sector. Chartists could also view the performance of Starbucks relative to the Consumer Discretionary SPDR (XLY) with the appropriate [[docs>data#ratio_symbols_relative_strength|ratio symbol]] (SBUX:XLY). Chartists could also view sector performance relative to the S&P 500 (XLY:$SPX). | + | The Price Relative indicator is simply the base security divided by the comparative security. Typically, the underlying security is a stock and the benchmark is the S&P 500. For example, chartists can use the Price Relative to show the performance of Starbucks (SBUX) relative to the S&P 500 ($SPX). This would simply be the price of Starbucks divided by the S&P 500. Starbucks is part of the consumer discretionary sector. Chartists could also view the performance of Starbucks relative to the Consumer Discretionary SPDR (XLY) with the appropriate [[https://support.stockcharts.com/doku.php?id=data#ratio_symbols_relative_strength|ratio symbol]] (SBUX:XLY). Chartists could also view sector performance relative to the S&P 500 (XLY:$SPX). |
| - | {{chart_school:technical_indicators:price_relative:prel-1-sbuxsheet.png|Price Relative - Spreadsheet 1}} | + | {{:technical_indicators:price_relative:prel-1-sbuxsheet.png|Price Relative - Spreadsheet 1}} |
| {{:technical_indicators:price_relative:cs-pricerelative.xls?linkonly|Click here to download this spreadsheet example.}} | {{:technical_indicators:price_relative:cs-pricerelative.xls?linkonly|Click here to download this spreadsheet example.}} | ||
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| ===== Using with SharpCharts ===== | ===== Using with SharpCharts ===== | ||
| - | The Price Relative is available in SharpCharts by using the "Price" indicator with [[http://stockcharts.com/docs/doku.php?id=data#ratio_symbols_relative_strength|a "Ratio" ticker symbol]] (e.g., "IBM:$SPX"). First, select the "Price" indicator. Second, in the parameter box, enter the symbol for the base security followed by a colon (":") and then the symbol for the comparative security. | + | The Price Relative is available in SharpCharts by using the "Price" indicator with [[https://support.stockcharts.com/doku.php?id=data#ratio_symbols_relative_strength|a "Ratio" ticker symbol]] (e.g., "IBM:$SPX"). First, select the "Price" indicator. Second, in the parameter box, enter the symbol for the base security followed by a colon (":") and then the symbol for the comparative security. |
| Note that you can also use the "$SECTOR" and "$INDUSTRY" pseudo-symbols inside a ratio symbol. We will automatically replace those symbols with the appropriate sector or industry ETF/index. For example, "IBM:$SECTOR" is the same as "IBM:XLK" inside of a SharpChart. | Note that you can also use the "$SECTOR" and "$INDUSTRY" pseudo-symbols inside a ratio symbol. We will automatically replace those symbols with the appropriate sector or industry ETF/index. For example, "IBM:$SECTOR" is the same as "IBM:XLK" inside of a SharpChart. | ||
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| {{:technical_indicators:price_relative:prel-6-shch.png|Price Relative - SharpCharts}} | {{:technical_indicators:price_relative:prel-6-shch.png|Price Relative - SharpCharts}} | ||
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| ===== Further Study ===== | ===== Further Study ===== | ||