Plot the close-spread relationship between two price series

foosmoo Updated   
This indicator plots the close-spread relationship between two price series by calculating the change across two price series as a spread for each. Each spread is the rate of change in yesterday's closing price and the prior day's closing price. By default, weekend prices are defined to be 0.0 but can be included as user-definable input, if required.

User input:
  • Symbol for price series 1 - defaults to BITFINEX:BTCUSD
  • Symbol for price series 2 - defaults to NASDAQ:NDX
  • Market session time (string) - defaults to 00:00 to 23:59
  • Timezone - defaults to UTC-4
Release Notes:
Changes as follows:
  • Added vertical bars (default of gray) to visual show weekend/out of session times
  • Changed user-input for session times to use input.session
  • Removed user-input option for “include out of session data” - to the nature of session handling and determining of a bar is within market hours is dependent on the market that the main chart is plotting. For example, bars for equity markets are not provided if they fall outside of market hours, so the option is meaningless in this context.
  • The reference ticker can be specified by the user. Defaults to NDX. The 2nd ticker plot is linked to the main chart ticker.
Release Notes:
Changes as follows:
  • Changed plot of closing price spread for main asset and comparison asset to be a bar chart
  • Added assertion pass/fail rates as a label in the top right
  • Added configurable look-back. Defaults to all prices in the series (-1) but can be changed in the config panel.

Indicator works best with BTC as the main chart series and NDX (or other market) as the comparison series
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


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