Chart one security price, base Thinkscript indicators on another.

[JBR]

I'm stumbling here a bit but think I can articulate my question by using an example.

Say, I want to chart an option's price but I want a proprietary indicator to be calculated on its underlying index. So, say .SPX230414C408 for what I'll see on the chart; but, I want to use SPY as the input for calculations on any indicators. Same time period for each in case this is an issue. I hope this is clear enough and thanks for any ideas here. Brad

 

[Joshua]

Where you would normally put Close, you put Close("SPY") and so on. For built-in indicators, you would generally view their source, if allowed, and make yourself a custom copy with similar changes. It can either be easy or very difficult on a case by case basis though.

I am not sure how specific you are being with your example, but you may run into issues where certain options don't trade during every chart period. In that case, when running on the option chart, the script will only be able to make the secondary reference to the other symbol during the periods that it actually traded. Any skipped periods will likely cause faults in what ever indicator.

 

[halcyonguy]

I'm stumbling here a bit but think I can articulate my question by using an example.

Say, I want to chart an option's price but I want a proprietary indicator to be calculated on its underlying index. So, say .SPX230414C408 for what I'll see on the chart; but, I want to use SPY as the input for calculations on any indicators. Same time period for each in case this is an issue. I hope this is clear enough and thanks for any ideas here. Brad

here is an example for,
reading the price of an underlying stock symbol, for the current option on a chart.

add
.SPY230510C412
to a watchlist and select it to view on a chart

AddLabel(1, " " , color.black);

addlabel(1, "with an option symbol loaded on a chart", color.yellow);

AddLabel(1, "option " + GetSymbol(), color.yellow);
AddLabel(1, "option price " + close, color.yellow);

AddLabel(1, "Underlying stock " + GetUnderlyingSymbol(), color.yellow);
AddLabel(1, "Underlying stock price " + close(GetUnderlyingSymbol()), color.yellow);
#

https://tlc.thinkorswim.com/center/.../Functions/Option-Related/GetUnderlyingSymbol

fyi, the example is wrong. GetSymbolPart() is not needed, it is used for something completely different. just use GetSymbol() for reading the active symbol on a chart.