Relative performance specific time period(s)

ReyHak

Member
Hi, new here!
Unfortunately I am new in ThinkScripts and really hopping someone can help me build this. Finviz.com (https://finviz.com/screener.ashx?v=141) has column for each stocks indicating relative performance to SPX for each stocks for various time frames (one day, one week, one month etc...) I believe the calculation for daily for example is closing price of a stock / closing price of SPX. This is extremely useful to stop stocks/sectors with better performance than SPX (or any market) for different time periods, this is specially useful during market pull backs.
I know we can currently chart this with TOS but I would like to have these as columns on my watch list, is this possible or already exist? If not, can anyone help me build this for various time frames?
Any help will be greatly appreciated. thank you
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Last edited by a moderator:

Pensar

Well-known member
VIP
Lifetime
@ReyHak There is a built-in watchlist column called "RelativeStrength". According to ThinkorSwim's definition (https://tlc.thinkorswim.com/center/reference/Tech-Indicators/studies-library/R-S/RelativeStrength), it calculates "the closing price of a stock/closing price of SPX". It doesnt give percentage values, but rather a ratio number.

I seem unable to replicate the performance percentages shown at Finviz.com. The Finviz values apparently do not match the current weekly, monthly, yearly, etc. percentage changes when compared to Thinkorswim.

This code is an idea I had while looking at this. It should take the percent change of the stocks in a watchlist, subtract the percent change of the SPX, and gives the difference. It might help in finding stocks that are overperforming/underperforming SPX.
Code:
# Difference in Percent Change vs SPX
# Select your choice of timeframe above

# current symbol change
def a = (close-close[1])/close[1];

# SPX change
def sym = close("SPX");
def b = (sym-sym[1])/sym[1];

# current symbol change minus SPX change
def c = a-b;

# gives the difference as a percent value
AddLabel(1,"Performance vs SPX = " + AsPercent(c),
         if c > 0 then createcolor(0,204,75)
         else if c == 0 then color.light_gray
         else createcolor(250,90,0));

#end code

And, this next code gives the same results as the built-in "%Change" watchlist column, but it can be changed to different aggregations other than the standard daily timeframe.
Code:
# Percent Change
# Select your choice of timeframe above

def a = (close-close[1])/close[1];

AddLabel(1,AsPercent(a),
         if a > 0 then createcolor(0,204,75)
         else if a == 0 then color.light_gray
         else createcolor(250,90,0));

#end code

Maybe this will help, maybe not. Best wishes! :)
 
Last edited:

Pensar

Well-known member
VIP
Lifetime
. . . how do I change the time frame on the first code? let's say I want to see the relative performance for the past 5 days?
@ReyHak Once you add the code to your watchlist column, at the top left of the watchlist editor, beside the box for your custom column name, is a dropdown tab. Select your choice of timeframe from that list.

If you want to display multiple columns with different timeframes (such as weekly, monthly, and yearly), you will need to create the same number of custom columns as the different timeframes that you want, and assign a separate timeframe to each.
 

Pensar

Well-known member
VIP
Lifetime
@ReyHak Here is a scan for the difference in percentage. I put notes in the code.

Code:
# Scan for Difference in Percent Change vs SPX
# Select your choice of timeframe above

def a = (close-close[1])/close[1];
def sym = close("SPX");
def b = (sym-sym[1])/sym[1];
def c = Round((a-b)*100,0);

# "1" scans for any stocks that are outperforming SPX by 1% or greater.
# Change it whatever positive value you like -
# as an example, "10" will find stocks that are
# outperforming SPX by 10% or greater.
plot scan = c > 1;

#end code

Edit: Removed a line in the code notes I had forgotten to take out before posting.
 
Last edited:

Richfonros

New member
Hi, I am newmember in programming, I looking for way how to writte something like rolling period for calculation ("isPeriodRolled" in VWAP).

there is example:

input price = close;

input symbol_SPY = "SPY";

def data1 = ((close (symbol_SPY) - close (symbol_SPY) [1])*100);

plot SPY = data1;

plot AccDist_SPY = TotalSum(data1);

AccDist_SPY.SetDefaultColor (Color.RED);

and need do the same calculation but separately for each week, month...
and plot to one chart

thanky

Rich
 

joetradeit

New member
I'm new to thinkorswim, I'm trying to see the percentage change of a stock vs dow. Simlare to the price relative indicator, can't see to find that in thinkorswim thus far.

Thanks!
 

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