This indicator takes the Performance Table from @BeeHolder and converts it to a Relative Performance table so you can compare the current chart vs. an Index (or whatever other ticker you want) to see the relative performance of one vs. the other. I also added a cell for ADR, which is also the same value as "Monthly Volatility" in the stock screener. This can be useful when screening stocks based on performance and volatility.
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Conversion to Pine v5 Added a box to the table that looks at the distance from the 52 week high. The idea behind this is that the strongest stocks will be close to their highs and that's what you should focus on. I've coded it so that if a stock is within 25% of its 52 week high the color will be green indicating a good candidate.
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Changed the calculation for distance from the 52 week high to be the drawdown off the high instead of the percentage required to get back to the high as I think this is what people usually refer to when talking about this metric.
Great indicator! Silly question, how do I interpret ADR? For example the S&P seems to be at a constant 0.98% and a stock might display 20.15%. Does it mean that this stock is at 20.15% of it's usual ADR for this timeframe? Thanks
millerrh
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@capguy, ADR is Average Daily Range and looks at the average movement from the high of the day to the low of the day. It's a measure of volatility. The higher the number, the more the stock typically "moves." So if you found something with an ADR of 20%, that sucker moves around a lot!
Thanks for this. I love the changes you have made to the script.
Would you be able to add an option to resize the table?
millerrh
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@TMK2, Have you seen another script that does this? And can you describe more about how you'd like to resize it? I'm a bit unclear about what aspect of resizing you are referring to or how I could code that up initially. It's all pretty strictly defined the way the tables are written.