Is it possible to create a composite symbol with division?

[Zac]

Trying to show a composite symbol in a chart:
SPY/IWM

Division does not seem possible, probably because the character / is used for futures. You can only divide by a constant: SPY/2 + IWM/3

This is not a study, it's a symbol definition (like in a watchlist): https://tlc.thinkorswim.com/center/howToTos/thinkManual/charts/Useful-Tools/Composite-Symbols

Hacks like SPY * (1/IWM) or SPY * (IWM ^ -1) also do not work. Logs also not possible (at least I can't find it).

This was asked before, with no definite answer. The question was mistaken with a study. Again, this is not a study.

Is this possible?

 

[MerryDay]

Trying to show a composite symbol in a chart:
SPY/IWM

Division does not seem possible, probably because the character / is used for futures. You can only divide by a constant: SPY/2 + IWM/3

This is not a study, it's a symbol definition (like in a watchlist): https://tlc.thinkorswim.com/center/howToTos/thinkManual/charts/Useful-Tools/Composite-Symbols

Hacks like SPY * (1/IWM) or SPY * (IWM ^ -1) also do not work. Logs also not possible (at least I can't find it).

This was asked before, with no definite answer. The question was mistaken with a study. Again, this is not a study.

Is this possible?

I can't even attempt to guess what you are trying to do.
So I will supply the syntax to get you started on your quest:

def ESclose = close("/ES");
def SPYclose = close("SPX");
def x = (ESclose + SPYclose) /2;

 

[halcyonguy]

I can't even attempt to guess what you are trying to do.
So I will supply the syntax to get you started on your quest:

def ESclose = close("/ES");
def SPYclose = close("SPX");
def x = (ESclose + SPYclose) /2;

instead of typing a symbol in the symbol darlta field box, he wants to enter a formula, that evaluates several stocks prices, into 1 combined price.

away from comp... i can't think of an answer . might have to be a study if division is desired ?

 

[Zac]

instead of typing a symbol in the symbol darlta field box, he wants to enter a formula, that evaluates several stocks prices, into 1 combined price.

away from comp... i can't think of an answer . might have to be a study if division is desired ?

Thanks, you are correct.

I am trying to avoid a study. I have a few of those on a watch list. I watch them daily and occasionally bring them on a chart to see changes and trends.

 

[armybender]

First... TOS literally has a Pairs Trader built into it that handles this for two symbols, including ratios. May be worth checking out if you're trying to arbitrage similar securities. BTW, if your computer isn't literally connected to the exchange in the absolute closest room, you're out of luck. Lots of firms doing this already.

If you're pair trading and not arbitraging, that's cool... there's money to be made there for medium to long term trades.

Also, here's the answer you're (not) looking for. It's not possible.

Finally... Straight from the documentation page in the 2nd sentence!!!
Only two mathematical operations are available between the components: addition and subtraction.

Here's the documentation link for composite symbols.
https://tlc.thinkorswim.com/center/howToTos/thinkManual/charts/Useful-Tools/Composite-Symbols

 

[Zac]

Also, here's the answer you're (not) looking for. It's not possible.

Finally... Straight from the documentation page in the 2nd sentence!!!
Only two mathematical operations are available between the components: addition and subtraction.

Here's the documentation link for composite symbols.
https://tlc.thinkorswim.com/center/howToTos/thinkManual/charts/Useful-Tools/Composite-Symbols

Thanks.
Marking it as the correct answer.

Even though TOS is not limited to addition and subtraction, it allows you to multiply in a scalar, such as:
SPY/2+IWM*3
The above works, you can use it in watch lists and charts.

 

[armybender]

Thanks.
Marking it as the correct answer.

Even though TOS is not limited to addition and subtraction, it allows you to multiply in a scalar, such as:
SPY/2+IWM*3
The above works, you can use it in watch lists and charts.

Agreed. I discovered you can use constants too, but anything dynamic it won't allow. And if you consider how they would match those up, it gets really tricky, so it's probably why they just don't allow it.

Seems like it would be possible for time based charts at least, but I can't imagine there's a huge demand for that either.