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The Chart Compare tool
This tool allows the trader to compare the performance of two instruments. A stock against and index, a stock against a stock, an index against gold…. everything is possible.
These are the advantages of the Chart Compare tool:
- An simple way to compare performance.
- Performance in percent (%) makes every comparison easy.
- Applicable to any market.
- Applicable in any time frame.
- It is FREE
The two curves are plotted together in one sub window, below the main chart.
Two trading examples
This example shows the sub window of trader looking at the S&P 500 future. The trader compares S&P 500 (red line) with the Eurostoxx future FESX (blue line) over a period of twelve months. The Eurostoxx lost -3,07% whereas the S&P grew by +16,07% over the same period.
This example compares Microsoft stock (red line) with the Dow Jones market index (blue line) over a period of 5 years. Microsoft added +338,19% whereas the Dow Jones added +87,33% over the same period.
- Open the chart of the instrument you wish to trade.
- In the WHS Proposals folder, select the study Chart Compare.
- In the Designer Dialog, double-click on the study 'Simulation' in the Indicators section. Select the instrument to which you wish to compare your main chart.