A tool for comparing relative performance and correlation of symbols within a specific market sector by displaying percentage-scaled price movements on a single chart.
Explore complementary indicator rolesHow it works
The script generates a line chart where multiple symbols from a chosen sector are plotted with their prices normalized to start at zero, allowing direct visual comparison of performance. Users can select from predefined sectors like Energies, or create custom sectors with up to ten symbols, with optional continuous futures contract suffixes.
Each symbol's price movement is displayed on a percentage scale, enabling traders to quickly assess relative strength and price trends within the selected group. The chart can use settlement-as-close and back-adjusted contracts, providing flexibility in analyzing price relationships across different market instruments.
Why it may be useful
This visualization technique helps traders quickly understand complex market dynamics by revealing correlations and performance disparities between related financial instruments. By normalizing prices, it eliminates absolute price differences and focuses on relative movements, which can provide insights into sector-wide trends and individual symbol behaviors.
Traders can leverage this tool to identify which symbols are outperforming or underperforming within a sector, potentially revealing trading opportunities or providing broader market context. The ability to compare multiple instruments simultaneously makes it a powerful analytical approach for understanding interconnected market segments.
When to explore it
This comparative price analysis is most effective when examining related financial instruments within a specific sector or market category. It works particularly well for futures markets, commodity groups, or stocks within similar industries where comparative performance can reveal underlying market sentiment and potential trading opportunities.
Traders should use this tool during periods of market transition, sector rotation, or when seeking to understand complex market relationships. It is especially useful for identifying emerging trends, correlations, and potential divergences that might not be apparent when examining individual symbols in isolation.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
