To implement Relative Performance Charting in NeuroShell Trader, you simply create an indicator which displays the relative performance from a given point in the past. Select ‘New Indicator …’ from the ‘Insert’ menu to create the following multi-part indicator incrementally using the Indicator Wizard:
Mul2( Sub( Divide( Close, SelectiveLag( Close, A=B( CumulativeSum(Add2(1,0),0),25),1) ),1), 100 )
In the indicator above, the Relative Performance Charting line starts at the 25th bar on the chart. To make the Relative Performance Charting line start at different points on the chart, simply change the number 25 in the indicator to a different starting bar number. You can use the indicator CumulativeSum(Add2(1,0),0) to determine the bar number of any given point on the chart.
The indicator above displays the relative performance of the current chart’s price data. To display the relative performance of different price data on the same graph, simply change the Close price in the above indicator to the close of any other instrument data that you wish. To select other instrument data instead of the close, simply press the ‘Other Instrument Data’ button when inserting the close into the indicator and follow the Other Instrument Data wizard. To display the relative performance of the Nasdaq Composite, S&P 500 and the DJIA, you would create the following indicators:
Mul2( Sub( Divide( Nasdaq Composite Close, SelectiveLag(Nasdaq Composite Close, A=B( CumulativeSum(Add2(1,0),0),25),1) ), 1), 100 )
Mul2( Sub( Divide( S&P 500 Close, SelectiveLag(S&P 500 Close, A=B( CumulativeSum(Add2(1,0),0),25),1) ), 1), 100 )
Mul2( Sub( Divide( DJIA Close, SelectiveLag(DJIA Close, A=B( CumulativeSum(Add2(1,0),0),25),1) ),1), 100 )
If you want to display the Relative Performance Charts using a Broad Market Index as a baseline, simply subtract the broad market index’s Relative Performance Chart line from the Relative Performance Chart lines which you wish to be graph relative to the broad market index baseline (See Figure 2).
File Download