comparing indices

Simon Gniadkowski 2014.01.23 15:56 #1

smw10:

Charting currency pairs is standard. When dealing with indices each index is charted against TIME. Is it possible to chart one index against another eg CAC/DAX. These two indices move together very closely and it is possible to trade any disparity, but not when this disparity is not clearly visible. Perhaps there is an indicator/template that shows visibly this separation. Any suggestions please?

smw10

Are you suggesting you want a Price vs Price chart ? I don't think you do . . .

William Roeder 2014.01.23 16:00 #2

Is it possible to chart one index against another
In a indicator, separate window - easy
In a indicator, as overlay, in the same window and the values are similar, get the value(s) for the other pair/index/... and draw your line/histogram - easy
In a indicator, as overlay, non-similiar values, you'll have to map them to the chart scale and only display the visible values - harder.
In a EA, as overlay, see my Polyline code #2, #3 apply.
these two indices move together very closely and it is possible to trade any disparity
If you are only concerned with the differences. Create a MACD equivalent.

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s m waller 2014.01.23 20:32 #3

RaptorUK:
Are you suggesting you want a Price vs Price chart ? I don't think you do . . .

I think that is exactly what I need. If the indices were in perfect unison it would be a straight line. Any disparity from this would show when and which index is out of line giving a "catch up" trade.

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Simon Gniadkowski 2014.01.23 20:40 #4

smw10:
I think that is exactly what I need. If the indices were in perfect unison it would be a straight line. Any disparity from this would show when and which index is out of line giving a "catch up" trade.

OK, you can't do it on MT4, the X axis is time . . .