Creating custom formulas can put price action into different perspectives. You can think of the search bar on TradingView like a calculator. This chart, for example, shows AAPL/VIX, but we could have expressed many different formulas including: (AAPL + GOOGL + AMZN + FB)^4 or TSLA + F + GM and even GLD/BTCUSD.
There are countless ways to create equations on TradingView. To get started, type the equation you want to chart into the search bar. When you're ready, press Enter, and the chart will appear.
The chart we created shows AAPL/VIX and it paints a picture about Apple's performance compared to moments when volatility is rising or spiking. The arrows on the chart demonstrate that the current ratio has been tested several times before in the past. Of course, this is not a recommendation or a signal of any sort. Instead, we are hoping to demonstrate the creativity you can use when building an equation. You can create formulas across all asset classes.
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It's interesting, thank you! Do you know if there is a user-friendly way to create a kind of index from a selection of stock? For example, having a chart for following the trend on a selection of social media stock on a chart.
vikasalvastudent
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Is there a limit to the number of stocks that can be added into a chart? I am having trouble in creating a custom index with more than 10 stocks in it
CompositeOperator_1989
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@vikasalvastudent, same here and TradingView doesnt want to make this number unlimited. They sent me to pine script. I am not a pine script writer.
vikasalvastudent
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@CompositeOperator_1989, I did not know that we can create a custom index with unlimited stocks using PineScript. Thanks for this info
@CompositeOperator_1989, Well I know a bit of PineScript, have managed to modify open source code from other users to suit my needs. I will have to learn it thoroughly though to create an index. I will share the script with you if successful
Can we leave visible the chart of a symbol (e.g., AAPL) and also see the formula results (e.g., AAPL/VIX) in a different panel, say below the AAPL chart? See on the screen both a symbol and a derived value using that symbol?