Historical Comparison Chart
The Historical Comparison Chart is similar to the Relative Comparison Chart but instead of comparing the performance of multiple symbols from a set date it compares the performance - in percent - of multiple symbols from multiple start dates. This is particularly useful when studying market cycles to identify historical patterns.
In this example, the performance of the Dow Jones Industrial Index (DJI) has been measured from three different market highs:
August 28th 1987 (blue line)
October 11th 2007 (red line)
July 20th 2015 (green line)
The percentage changes are then plotted from their respective start dates (Day 0) to a set period after. This is example shows 2 years after each starting point (around 500 trading days).
The corresponding data periods being compared as seen on the DJI chart:
How to create a Historical Comparison Chart
To create a Historical Comparison Chart select the chart style from the New > Multi-Code Chart menu. From the security selection window, type the code or name to be compared and double-click to move it to the window on the right-hand side. When all the codes have been selected click the Open button to open the chart. In the example used above DJI from World Indices was added three times:
Once opened click on the Date of one of the symbols in the structure panel and click on the calendar icon to to select the starting date (tip: click on the Month to change to year, then the year for decade, etc to easily pick the historical starting point):
Actions & Properties
Compare Another Code: Click here to add more comparison codes from the security selection window.
Apply Settings to All: When multiple comparison charts have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as changing the colour - as this allows all the other charts in the page or entire workbook to be updated instantly.
Move to Back: If the lines of the tool are displaying in front of other tools or indicators clicking this action will move the lines view to the background.
Move to Front: If the lines of the tool are displaying behind other tools or indicators on the chart, clicking this action will bring the lines to the forefront.
Restore Default Settings: If you have adjusted any of the chart’s properties (such as the colour) you can save the adjustments as your new default setting. Each time you subsequently apply the tool to a chart it will display using the new settings.
Save Settings as Default: If any of the Historical Comparison Chart properties have been changed (colour, for example) the adjustments can be saved as the new default setting. Each time a new Historical Comparison Chart is opened it will display using the new settings.
Delete: Delete the Historical Comparison Chart from the page.
Tool Name: Allows for the name of the tool to be changed, as displayed in the Structure Panel.
Time Frame: Allows you to change the chart’s time frame (for example, changing from a 1-day Chart to a 1-week Chart).
Trim Style: Use this to select the chart that is used to determine the amount of history displayed.
- Longest: displays from the earliest selected data point to the current date (each line will be of differing length)
- Shortest: displays from the latest selected data point to the current date (each line will be the same length)
Fixed Length: Set the number of years to display after each starting point
Show Plot Text: Tick this checkbox to display the code labels (DJI, for example) at the end of each line to identify the security and starting date.
Labels: This allows you to adjust the text label displayed at the end of each line on the chart. The options are Code (default), Name, Name & Code.
Label Size: Allows you to adjust the size of the text of the label. Moving the slider to the right will increase the size of the text.
Blank Bars: The number of blank bars to the right of the current price action. After the last bar, there will be an area of blank charting space used for plotting tools and indicators into the future. Increasing this value will increase the amount of blank space.
Tool Transparency: Use this slider bar to adjust the transparency of the chart. Moving the slider to the left will increase the transparency of the chart.
Visible: Un-tick this checkbox to hide the chart.
Show In Price Scale: When selected the last closing value will be highlighted in the Price Scale.
Remove Plot: Removes the relative comparison line from the chart.
Plot Style: There are 6 options: Line, Dot, Histogram, Step, Shaded, or Shaded Step
Line Style: This allows the line display to be adjusted. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
Line Width: Allows the width of the line to be adjusted. Moving the slider bar to the right increases the thickness of the line.
Colour Scheme: Allows you to change your Colour Scheme to Copy Colours from Price Chart, Single Colour (Default), Positive / Negative, or Custom (click here to see how to use Custom scripts to change bar/line colours)
Line Colour: Allows the colour of the line to be adjusted. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Visible: Un-tick this checkbox to hide the tool from the chart.