How to Display More than One Symbol on a SharpChart
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Displaying more than one stock or other ticker symbol on a single SharpChart is a powerful feature that allows you to compare the price action of two or more symbols visually. Price data can be added for up to nine additional symbols (depending on the member's service level) by using the Price indicator. The price data can be added above, below, or even overlaid on the price plot of the main symbol.
Learn More: The Price Indicator
This in-depth tutorial walks you step-by-step through using price indicators to create a market overview chart that shows the Dow, S&P 500, S&P 400, and S&P 600 on a single chart.
The Dow ($INDU) will be the main symbol on our SharpChart. There are several ways to create a new SharpChart, but the easiest is to enter the symbol in the Create-a-Chart box at the top of the page and then click Go.
To simplify the chart, let's remove any Indicators and Overlays from the default chart. The quickest way to do that is to click the Clear All link in the Overlays section and repeat the process with the Clear All link in the Indicators section.
Note: You may want to make other changes to the chart, such as changing the size or the color scheme. We're using the “Spruce” color scheme in this example.
You can use the Price indicator to add ticker symbols to your chart. In this example, we'll add $SPX, $MID, and $SML to the chart.
Select Price from one of the blank indicator dropdowns, and then enter the ticker symbol you want to chart in the Parameters box. In this case, we will use $SPX for the S&P 500. Ensure the Position dropdown is set to Below, so the $SPX price plot will appear below the main $INDU price plot.
Once these changes have been made, your chart should look similar to the chart below.
To add the other two indexes, repeat the previous step two more times. Remember to change the values in the Parameters boxes to $MID and $SML.
Your chart should look similar to the one below.
By default, the Price Indicator displays a relatively compact line chart, but you can adjust the settings to something more suitable for your analysis needs.
First, let's display the three Price Indicators as candlestick charts instead of line charts. To do this, select Candlesticks from the Style dropdown menu next to each of the three Price Indicators. This changes the style from - Auto - to Candlesticks.
All four price plots are candlestick charts, but the three Price Indicator plots are short. Let's change the three Price Indicator plots to be 80% as tall as the Dow price plot.
You can do this by changing the Height setting of each Price Indicator to 0.8.
After making the style changes to the Price Indicators, your chart should look similar to the one below.
You may have noticed that while there are date/time labels along the bottom of the main price panel and below the last indicator panel, there aren't any for the other two indicator panels. Fortunately, they are easy to add to our chart.
In the Indicators area, select Date/Time Axis in the empty indicator dropdown. Since you need to add time scales for two price plots, repeat the process in the following blank indicator dropdown that appears. You have two Date/Time Axis indicators listed in the Indicators area.
Since the indicators appear on the chart in the order they are listed, you'll need to move the two Date/Time Axis indicators—one directly below the $SPX Price Indicator and the other directly below the $MID Price Indicator. Click the upward-pointing Reorder arrows (outlined in green in the screenshot below) until those two “Date/Time Axis” indicators are directly below the $SPX and $MID indicators.
Once they have been moved in place, your Indicators area should look like this:
The finished chart will look similar to the one below.
In addition to the settings covered above, you can customize the y-axis on a Price Indicator panel in two ways. They are as follows:
Inverting the Chart: This setting can be helpful for $VIX and other volatility-focused symbols. To invert the y-axis of the price plot so that the high values are at the bottom and the low values at the top, simply add a comma and a second parameter, “inverted,” in the “Parameters” box for your Price Indicator.
Using Log Scale: By default, the Price Indicator is plotted using an arithmetic scale, but if your main price plot uses a log scale, you may want to use the same on your Price Indicator. To change the Price Indicator to use a log scale, simply add a comma and a second parameter, log, in the Parameters box for your Price Indicator.
Cool Tip: These two y-axis settings can be used together in a single Price Indicator panel. For example, to plot an inverted log scale price indicator for $VIX, you would enter in the Parameters box: $VIX,inverted,log
