Percent Axis

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stater

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Post Number: 68
Registered: 10-2002

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Monday, November 14, 2005 - 12:46 pm:

Hi Colin,

I think I noticed in one of your recent posts that you are soon to take a look at chart formats again - in particular in the way price axis information is presented.

Can I resurrect a suggestion that I first made back in March 2002 and most recently in 2003 http://forum.incrediblecharts.com/messages/24/142882.html#POST21030:

It would be very helpful to be able to optionally view chart data against a percent scale on the vertical axis in the main chart area - rather than just price.

In fact, with the ability we now have to load external data, I have been using a technique which works OK for single stocks - but is far from ideal.
percen

To produce this chart I have simply loaded a table with all values set to 100, and added a price ratio indicator. Others may be doing so as well. A much better approach would be able to specify whether the vertical axis on a chart should be in price or percentage terms. This capability is available with some other services - including Yahoo and Comsec.

Is the suggestion still on your list - and making progress towards the top?!

Stater

colin_twiggs

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Post Number: 2242
Registered: 09-2002

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Monday, November 14, 2005 - 02:42 pm:

Stater,
It is on our list and we are making progress towards it.

My one concern is that the shape of the indicator line is heavily influenced by the chart starting point. Does the Rate of Change indicator not serve the same ends -- while minimizing the influence of the starting point?
What purpose do you use it for?

Regards
Colin

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stater

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Post Number: 69
Registered: 10-2002

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Monday, November 14, 2005 - 09:18 pm:

Thanks Colin,

I am very poor at mental arithmetic and I find it difficult to look at a chart, glance at the price axis and quickly calculate the rate at which the item being charted is moving. Except for very low priced stocks - I tend to take less notice of notice of actual price. I am more interested in percentage movement.

The rate of change indicator is helpful, but requires selection of a period. This is OK, but time consuming if changes in the period are need for the particular analysis at the time. Only one rate of change can be plotted and it is not really appropriate when multiple stocks/indices are being compared in the main chart. If trend lines are used, they need to be drawn twice, once on the chart, and once on the indicator.

Yes the starting point will affect the percentages as measured on the axis. But this is fine - particularly if there is a need to scroll through a watchlist or the results of a stock screen, in order to quickly identify the relative rate at which each is moving - the absolute percentages will vary with the period chosen, but relative comparisons will still be valid. And often it is helpful to quickly zoom to a relatively short period and to determine the rate at which the stock has moved during that period - without doing the mental arithmetic! - and then cancel the zoom.

I hope my understanding is correct. The need is not crucial, but a simple shortcut or mouse action to flip between dollars and percentages would be useful for me.

Stater

colin_twiggs

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Post Number: 2244
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Tuesday, November 15, 2005 - 12:22 pm:

Stater,
I am not trying to steer you away from your suggestion, but try ROC in the mean time (say 250 days and 21 days). That will give you the % change over one year and one over month.

Regards,
Colin

stater

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Post Number: 70
Registered: 10-2002

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Tuesday, November 15, 2005 - 02:42 pm:

Thanks Colin,

Good luck prioritising the to do list. Commercial issues will dictate your thinking - but I'm sure there would be many on the forum happy to rank requirements if you decide to seek input.

Rod

macca888

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Post Number: 16
Registered: 10-2002

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Tuesday, November 15, 2005 - 03:17 pm:

G'day stater and Colin

The above would be another excellent inclusion to the IC package.

Currently I use the stock screening module to rank the relative movements of a scan result or a watchlist over the limited number of periods in the screening module.

Using % Price Move and by entering minus 100 in the minimum % in the relevant time frames I can then see the relative price moves of all stock produced by the scan.

If I need to see the relative price moves over different timeframes other than those supplied in the screening module then I have a spreadsheet set up to give me the raw % gain as well as the annualised % gain over any timeframe.

Entering data to this can be laborious and generally I only use it to rate and monitor open and closed trades.

Hope this helps till a superior solution.

regards
macca888

colin_twiggs

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Post Number: 2247
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Wednesday, November 16, 2005 - 12:52 pm:

Rod, Macca

Thanks for the feedback. I think it would be a good idea to ask members to assist in prioritizing further improvements.

Regards, Colin

stater

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Post Number: 71
Registered: 10-2002

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Thursday, November 17, 2005 - 01:58 pm:

Macca,

Thanks for the reminder. I have used this technique in the past - but it had slipped from memory (why I am saying that more these days!). I too have a spreadsheet and to allow consistent comparison calculate annualised percentage changes for my active stocks.

Rod

stater

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Post Number: 72
Registered: 10-2002

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Thursday, December 29, 2005 - 12:24 pm:

Colin

I hope you have been able to follow some of the discussion on this thread http://forum.incrediblecharts.com/messages/12/667393.html

There does seem to be a lot of interest in an IC extension which would allow better charting and comparison of stocks on a basis other than price. You may wish to take this into account when assigning development priorities. See this post
in particular where interpretation of the information would have been much easier if a rate of change axis was available http://www.incrediblecharts.com/userscripts/forums/show.plx?tpc=12&post=83630#PO ST83630

I note that you are considering surveying the forum for priorities - excellent in my view. I hope that you are able to get a meaningful response and that the results are consistent with your commercial objectives.

Rod

colin_twiggs

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Post Number: 2334
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Friday, December 30, 2005 - 01:29 pm:

Rod,
Thanks. I will include this in our new survey.
Regards,
Colin Twiggs

stater

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Post Number: 77
Registered: 10-2002

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Saturday, September 20, 2008 - 11:36 am:

Hi Colin

Congratulations on being able to expand your development team. Does this mean that my old, old request (first made March 2002) for a percent axis in IC might get nearer the top of the to do pile. I think you have accepted the request in principle. Certainly it is very common in other charting packages, and for me, a notable omission in IC.

I am happy to reiterate the basis for the request - just let me know.

Rod

colin_twiggs

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Post Number: 3243
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Saturday, September 20, 2008 - 11:50 am:

Stater,

I am afraid it is still somewhere in the middle of our list. The results of our survey from earlier this year were:

Priority #1 - Stock Screener
Priority #2 - Indicators and Trailing Stop Loss
Priority #3 - Hour and Minute bars

Our rate of progress is improving so hopefully we can get to the middle of the list before too long.

Regards,
Colin

stater

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Post Number: 88
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Monday, March 09, 2009 - 10:37 am:

Colin

I note that you plan to revisit the priority of a charting request
http://forum.incrediblecharts.com/userscripts/forums/show.plx?tpc=24&post=144875

May I ask where we stand with the one in this thread.

Captain Chaza'a suggestion that the LH vertical axis be used to display percentage price information is a good one in my view.

I am happy to provide more input on the requirement. Both Comsec and Yahoo allow percentage displays.

Rod

stater

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Post Number: 91
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Sunday, February 14, 2010 - 09:51 am:

Colin

Would you be able to provide an update on the status of the suggestion for a percent axis on IC charts.

Rod

colin_twiggs

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Post Number: 449
Registered: 06-2009

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Monday, February 15, 2010 - 10:20 am:

Hi Rod,

It is on our To Do list but do not expect much progress on the charts until later in the year. Our first priority is to upgrade our servers for installation of intra-day data feeds -- as highlighted in our last survey. We hope to complete that by mid-year, which will once again allow us to focus on improving and expanding the charting tools.

Regards,
Colin