Really like this idea but can not figure out how to overlay one chart on top of the other.  Would like to compare XAUUSD and XAGUSD.  Can you give me some instruction on how to make the chart and indicator work?  Sorry to be so thick but tried several different methods with no success.

thanks for your time

Hi, I'm not sure what you mean by "overlay" in the context of this indicator. To compare XAUUSD and XAGUSD, if you think that XAG follows XAU (XAU influences XAG), then open XAGUSD and place the indicator on it with LeadSymbol set to XAUUSD. If you think that XAU follows XAG (XAG influences XAU), then open XAUUSD chart and place the indicator with LeadSymbol XAGUSD.

If you mean by "overlay" a superposition of the symbols, that is XAUXAG, then you shoud look at another indicator - CrossRate.

Hi,

Could you please explain each "Scaling Modes"? (none, volatility, margin, %ratio, custom)

I don't know which one to choose in order to display the most accurate difference between the two symbols...

Thank you~

John

Scaling modes work as follows.

0 - no scaling, for both symbols price changes for TimeGap bars are calculated in points;

1 - scaling by volatility: 30-days price changes in points are multiplied by corresponding point value for each symbol (producing an amount in currency of your account), and then price changes for indicator's period (TimeGap) are normalized by the ratio of the 2 amounts;

2 - scaling by required margin: price changes in points multiplied by corresponding point value for each symbol and normalized by corresponding required margin for each symbol;

3 - instead of absolute changes, price rate is calculated for each symbol as a ratio between new and old price, minus 1; this ensures the common scale as well;

4 - scaling by a custom coefficient (specified in ScalingHint): this is similar to mode 1 and 2, but instead of automatically calculated ratio (deduced either from latest volatility or required margin), you should specify an arbitrary value, which will be used to down- or upscale LeadSymbol's price change to current work Symbol()'s price change;

I hope this makes things clearer.

Hi,

Upon further testing, I notice that the lines are not very accurate. For example when currency's line chart is clearly trending up, its corresponding line in the "Comparator" might not, and thus causing the yellow/difference line to be inaccurate.

All I need is a simple indicator that can accurately display the difference in pips (or points) between 2 symbols. For example: if GBPCHF moved up 10 pips and USDCHF moved up 7 pips, the yellow/difference line would plot +3.

Could you please make that adjustment?

Thanks a lot~

John

Hi, first of all, your feature request made in private message is almost finished. I think it'll be publicly available in few days.

As for the new issue, could you please send a screenshot? From what you say I suppose you're talking about another indicator - CrossRate. Please have a look.

When using Comparator please bear in mind that rates are compared against historical movements in TimeGap bars, so the changes in points will not be equal to corresponsing changes solely on the latest bars. 

Hi, thank you so much for the explanation and sound notification.

Is there a way for me to adjust the setting so the yellow dotted line would show the real-time difference (in points or pips) between the 2 instruments? 

Thank you.

It does show real-time difference, but the difference on every i-th bar is calculated between changes of Symbol()  and LeadSymbol for previous TimeGap bars. If it would take into account only changes on every single bar, you'll get pure cross rate between 2 symbols (as I mentioned before, you can see it using another indicator CrossRate).

The most you can do is set TimeGap to 1 (this will show the difference between prices changes for 1 bar lag, that is it takes into account prices on every single bar and previous bar). Again, this is not a simple difference between 2 symbols, but the difference between their changes.

Красные линии появляются там, где превышен порог PriceGap.

I started to test this indicator, I don´t understand why it works properly when I put it on XAGUUSD and choose lead symbol as XAUUSD, but when I put it on XAUUSD and choose lead symbol XAGUSD, it doesn´t.

Check here, 1st image is XAGUSD with XAUUSD as lead, 2nd image is XAUUSD with XAGUSD as lead:

It works properly and absolutely symmetric on both charts. The problem is that you do not use an appropriate ScalingMode. Without this a symbol with larger price distance (in points) is shown more prominent that another (which is squeezed near the zero line).