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comparing indices

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s m waller
52
s m waller  

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

Simon Gniadkowski
Moderator
18003
Simon Gniadkowski  
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 . . .
whroeder1
14771
whroeder1  
  1. Is it possible to chart one index against another
    In a indicator, separate window - easy
  2. 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
  3. 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.
  4. In a EA, as overlay, see my Polyline code #2, #3 apply.
  5. 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.
s m waller
52
s m waller  
RaptorUK:
Are you suggesting you want a Price vs Price chart ? I don't think you do . . .

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.
Simon Gniadkowski
Moderator
18003
Simon Gniadkowski  
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 . . .
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