Anchoring comparison study to the opening price of the day

[static]

This is for the comparison study. I am wondering if there is a way to make it so the comparison study starts at the opening price each day. The next day it would do the same always resetting to the open price.

Here is an example of what I'm describing. In the left image the comparison starts way down below the opening candle. The right image shows the comparison in-line with the opening candle of that day (I have to manually move it).

1hr chart

Thanks

 

[halcyonguy]

This is for the comparison study. I am wondering if there is a way to make it so the comparison study starts at the opening price each day. The next day it would do the same always resetting to the open price.

Here is an example of what I'm describing. In the left image the comparison starts way down below the opening candle. The right image shows the comparison in-line with the opening candle of that day (I have to manually move it).

this will show a line for a second stock price, and reset it on the first bar of each day.

can choose to match up the 2 stocks on the day first bar, by open or close.
if you choose open, then it draws a line at the open prices for all the bars of stock2.

it doesn't draw a line on the last bar, bacause that would cause a line to connect to the first bar of the next day.

# compare_open_reset_daily_0

# https://usethinkscript.com/threads/anchoring-comparison-study-to-the-opening-price-of-the-day.13214/#post-111472
# compare, reset daily

#Anchoring comparison study to the opening price of the day
# static  11/1 


def na = double.nan;

input start = 0930;
def dayopen = if secondstillTime(start) == 0 then 1 else 0;
#addverticalline(dayopen, "-", color.cyan);

input chart_type = { default open , close };

def stk1_open = open;
def stk1_close = close;

input stock2 = "SPY";
def stk2_open = open(stock2);
def stk2_close = close(stock2);

def stk2o_off = if dayopen then stk1_open - stk2_open
  else stk2o_off[1];

def stk2c_off = if dayopen then stk1_close - stk2_close
  else stk2c_off[1];

def stk2;
def type;
switch (chart_type) {
case open:
  stk2 = stk2_open + stk2o_off;
  type = 1;
case close:
  stk2 = stk2_close + stk2c_off;
  type = 2;
}

plot z = if dayopen[-1] then na else stk2;
z.SetDefaultColor(Color.cyan);

addlabel(1, "comparing " + stock2, color.yellow);

addlabel(1, (if type == 1 then "reset to day bar1 Open"
  else if type == 2 then "reset to day bar1 close"
  else "-"), color.yellow);
#
#

 

[halcyonguy]

this will show a line for a second stock price, and reset it on the first bar of each day.

can choose to match up the 2 stocks on the day first bar, by open or close.
if you choose open, then it draws a line at the open prices for all the bars of stock2.

it doesn't draw a line on the last bar, bacause that would cause a line to connect to the first bar of the next day.

# compare_open_reset_daily_0

# https://usethinkscript.com/threads/anchoring-comparison-study-to-the-opening-price-of-the-day.13214/#post-111472
# compare, reset daily

#Anchoring comparison study to the opening price of the day
# static  11/1


def na = double.nan;

input start = 0930;
def dayopen = if secondstillTime(start) == 0 then 1 else 0;
#addverticalline(dayopen, "-", color.cyan);

input chart_type = { default open , close };

def stk1_open = open;
def stk1_close = close;

input stock2 = "SPY";
def stk2_open = open(stock2);
def stk2_close = close(stock2);

def stk2o_off = if dayopen then stk1_open - stk2_open
  else stk2o_off[1];

def stk2c_off = if dayopen then stk1_close - stk2_close
  else stk2c_off[1];

def stk2;
def type;
switch (chart_type) {
case open:
  stk2 = stk2_open + stk2o_off;
  type = 1;
case close:
  stk2 = stk2_close + stk2c_off;
  type = 2;
}

plot z = if dayopen[-1] then na else stk2;
z.SetDefaultColor(Color.cyan);

addlabel(1, "comparing " + stock2, color.yellow);

addlabel(1, (if type == 1 then "reset to day bar1 Open"
  else if type == 2 then "reset to day bar1 close"
  else "-"), color.yellow);
#
#

i added some code to draw the line on the last bar of the day

# compare_open_reset_daily_02

# https://usethinkscript.com/threads/anchoring-comparison-study-to-the-opening-price-of-the-day.13214/#post-111472
# compare, reset daily

#Anchoring comparison study to the opening price of the day
# static  11/1 


def na = double.nan;

input start = 0930;
input end = 1600;
def dayopen = if secondstillTime(start) == 0 then 1 else 0;
#def daytime = if secondsfromTime(start) >= 0 and secondstillTime(end) > 0 then 1 else 0;
def lasthour = if secondsfromTime(1500) >= 0 and secondstillTime(end) > 0 then 1 else 0;
#addverticalline(dayopen, "-", color.cyan);

input chart_type = { default open , close };

def stk1_open = open;
def stk1_close = close;

input stock2 = "SPY";
def stk2_open = open(stock2);
def stk2_close = close(stock2);

def stk2o_off = if dayopen then stk1_open - stk2_open
  else stk2o_off[1];

def stk2c_off = if dayopen then stk1_close - stk2_close
  else stk2c_off[1];

def stk2;
def type;
switch (chart_type) {
case open:
  stk2 = stk2_open + stk2o_off;
  type = 1;
case close:
  stk2 = stk2_close + stk2c_off;
  type = 2;
}

plot z = if dayopen[-1] then na else stk2;
z.SetDefaultColor(Color.cyan);

# plot a 2nd line , overlapping firt. to draw on last bar, without connect to next day
plot z2 = if lasthour then stk2 else na;
z2.SetDefaultColor(Color.cyan);

addlabel(1, "comparing " + stock2, color.yellow);

addlabel(1, (if type == 1 then "reset to day bar1 Open"
  else if type == 2 then "reset to day bar1 close"
  else "-"), color.yellow);
#

 

[static]

Thanks so much halcyonguy!

 

[static]

@halcyonguy I noticed for stocks with low prices (for example SOFI shown below) the scaling becomes an issue