Chicago Illinois USA
Legendary Market Wizard
Experience: Advanced
Broker: IB, ToS
Trading: /ES, US Equities/Options
Frequency: Several times daily
Duration: Hours
Posts: 3,539 since Aug 2011
Thanks Given: 2,076
Thanks Received: 9,566
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you are trying to do. But, I'd have a couple suggestions.
Utilize % change last 5 days individual equity versus % change last 5 days ES. This way you have the ability to plot or call a universal number. The 8 dollar stock and the 80 dollar stock will have an equal measure against the ES. This would be more sophisticated if it measured each equity in index points, but Im not sure that is necessary or beneficial.
Make the period a variable so it can be changed in the settings of the indicator. Are you trying to evaluate the 5 period versus the 30 period or do you want to see the 5 period and see the 30 period independent of each other.
This is not a difficult calculation and would be a snap for many of the qualified code guys at futures.io (formerly BMT).
You might get some interesting input if you describe what you are trying to do.
DB
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