Chart a ratio of 2 index?

[johnnyrocker]

Newbie question here.

I’d like to chart the VIX / VXv ratio.

on stockcharts.com I can use $VIX:$VXV Is something similar possible with a script?

 

[BenTen]

Definitely possible but I don't think it's that simple on ThinkorSwim.

What you can do is use the code below (credit to @generic) and then select the 2 tickers of your choosing:

input tickerA = "SPY";
input tickerB = "VIX";

def ticker1 = close(symbol = tickerA, period = agg);
def ticker2 = close(symbol = tickerB, period = agg);

plot ratio = ticker1 / ticker2;

 

[Deleted 7573]

Hey @johnnyrocker - I had similar questions recently. Another way to go about this is as follows: Think or Swim allows you to define "composite symbols" where you can add or subtract two tickers together. See Learning Center - Composite Symbols (thinkorswim.com) So if you are in charts, you could graph (Ticker1) + (Ticker2) etc. Once you have that graph, you can go to studies, and select the study "PairRatio" This gives you the ratio of the two securities that are part of your composite security. Hope that helps.

 

[Ronathan Edwards]

@BenTen, this would be great, I found a script that makes an indicator concerning this thread.... I changed the old TOS VXV with the updated ticker VIX3m and thought that would fixt the issue. But I'm not seeing the indicator on my chart.... any thoughts?

 

[mdallen135]

Definitely possible but I don't think it's that simple on ThinkorSwim.

What you can do is use the code below (credit to @generic) and then select the 2 tickers of your choosing:

input tickerA = "SPY";
input tickerB = "VIX";

def ticker1 = close(symbol = tickerA, period = agg);
def ticker2 = close(symbol = tickerB, period = agg);

plot ratio = ticker1 / ticker2;

A newbie here. I typed in the code, but not sure how to: credit to @generic)? For whatever reason, I got red errors when I typed in "agg", but if I changed to a number I got no error, but got a NA in the title of the code after the listed symbols in the header below the blue bar above the chart? My intent was to create a ratio that would compare the NYSE New Highs for one month ($NYHI1M) to NYSE New Lows for one month ($NYLO1M). I also wanted to create a ratio for the Cumulative NYSE New Highs for one month to the Cumulative NYSE New Lows for one month (but never found an indicator for these?). I am wondering in indicators can not be used to replace symbols, thus the reason I was interested in this "ticker" scenario. Looking forward to learn more!

 

[Harapa]

This will do the job. it uses symbol1:symbol2 ratio in creating an oscillator.
"input MAperiodicity = 6;" Adjust to upscale intraday data to daily or higher order
----------------------------
#(c) Harapa

declare lower;
input symbol1 = "SPY";
input symbol2 = "VIX";
input price1 = FundamentalType.CLOSE;
input price2 = FundamentalType.CLOSE;
input colorNormLength = 3;
input fastLength = 19;
input slowLength = 39;
input MAperiodicity = 6;
input averageType = AverageType.EXPONENTIAL;
input direction = -1;

def Ratio = (Fundamental(price1, symbol1)) / (Fundamental(price2, symbol2));
def FastAvg = MovingAverage(averageType, Ratio, fastLength*MAperiodicity);
def SlowAvg = MovingAverage(averageType, Ratio, slowLength*MAperiodicity);


plot Oscillator = (FastAvg - SlowAvg)*direction;

Oscillator.setPaintingStrategy(paintingStrategy.HISTOGRAM);
Oscillator.assignValueColor(if Oscillator > 0 and Oscillator > Oscillator[1] then color.DARK_GREEN else if Oscillator > 0 and Oscillator < Oscillator[1] then color.PINK else if Oscillator < 0 and Oscillator < Oscillator[1] then color.RED else color.Green);
;