One of the latest market messages by John Murphy.

Joujou

In one of the latest market messages by John Murphy, published on Thu, Apr 9 2015 12:32 PM ET and concerning 'HONG KONG MARKET HITS SEVEN-YEAR HIGH ...', he shows a chart which, on the basis of an indicator "price - performance", has two indexes which one of the two is used as a comparative basis to the other.



I tried to reproduce it but I do not know how ... Could you tell me how?
Thank you all for your help.

Kevo

Hi @Joujou , what you are looking at is called a Relative Price Performance Chart. On stockcharts.com (SCC), they are known as PerfCharts.

SCC has 3 versions or implementations of PerfCharts. There are 2 types of PerfCharts: Price Performance Charts, and Relative Price Performance Charts. Relative Price Performance Charts are calculated differently.

1. The traditional PerfChart is found here: http://stockcharts.com/freecharts/perf.php?$COMPQ,$NYA,$RUT,$INDU,$SPX&n=200&O=011000

This version supports Price Performance Charts and Relative Price Performance Charts. It only supports the Daily period, and 10 symbols.

2. Another version is found here:

http://stockcharts.com/h-perf/ui?s=$SSEC&compare=$HSI&perf=true&id=p23194097039

This is the version that you see above. You can get to this version easily by separating two symbols with a comma in the create a chart input box in the header, or start a chart input box on the homepage. This version supports both Price Performance and Relative Price Performance Charts. It also has other cool features like different periods.

3. A SharpCharts implementation of PerfCharts:

In the ShartpCharts workbench, change the type of chart to Performance.

Relative Price Performance is not supported in this version. Only 6 symbols are supported. You can use all the periods Monthly, Weekly, Daily, etc. There is a small issue though in this version. See below.

I sent a request in to support asking in the near future to rewrite the PerfChart tool by combining the features of 1. and 2. into a new PerfChart tool. I also asked to support more than 10 symbols. My request probably got ignored, but maybe next year they will do something.

We have had some interesting discussions regarding Relative Price Performance and the SharpCharts version of PerfCharts. You can see some here:

http://scan.stockcharts.com/discussion/308/advanced-scan-using-indicator-price-performance-with-relative-price

http://scan.stockcharts.com/discussion/11/how-do-i-interpret-price-relative-plotted-on-the-price-performance-indicator

Joujou

Whaooo! Kevo, your answer is clear as crystal. Thanks a lot for helping me.

Kevo

2. and 3. can be saved to a ChartList, annotated, and there is a 6 symbol limit on both; 10 for Pro.