percent change from the open

[zwedle]

I'm looking to compare the difference in percent change from the open of two baskets of ETFs to gauge market sentiment. It's basically a filter representing different market sectors to discern whether the market tone is risk-on or risk-off.

I want it to be a subgraph that plots as a line chart the difference of both baskets throughout the day. I got the idea from this video:

 

[XeoNoX]

try this:

PLOTTING PERCENTAGE DIFFERENCE BETWEEN TWO SYMBOLS FROM REGULAR TRAING HOURS OPEN

#PLOTTING PERCENTAGE DIFFERENCE BETWEEN TWO SYMBOLS FROM REGULAR TRAING HOURS OPEN
# ****      WORKS ON INTRADAY CHART ONLY    ****
# ****      WORKS ON INTRADAY CHART ONLY    ****
# ****      WORKS ON INTRADAY CHART ONLY    ****
#NOTE: This may study may not work well outside of regular trading hours or using tickers/securities with missing 1 minute bars.
#Works best with extended hours off (not visible) on chart and during the regular trading hours.
#
input symbol_1 = "AAPL";
input symbol_2 = "SPY";
def isRollover = GetYYYYMMDD() != GetYYYYMMDD()[1];
def beforeStart = GetTime() < RegularTradingStart(GetYYYYMMDD());
def afterEnd = GetTime() > RegularTradingEnd(GetYYYYMMDD());
def firstBarOfDay = if (beforeStart[1] == 1 and beforeStart == 0) or (isRollover and beforeStart == 0) then 1 else 0;
def openprice1 =  if  firstBarOfDay  then open(symbol_1) else openprice1[1];
def openprice2 =  if  firstBarOfDay  then open(symbol_2) else openprice2[1];
def closeprice1 = close(symbol_1);
def closeprice2 = close(symbol_2);
def return1 = 100 * (closeprice1 - openprice1) / openprice1;
def return2 = 100 * (closeprice2 - openprice2) / openprice2;
plot dif = return1 - return2;
AddLabel(yes, "difference:  " +  Round(dif) + "%" );