Relative Performance AnalysisRelative Performance Analysis Script
This Pine Script creates a detailed table on your TradingView chart to compare the performance of a specified asset against a benchmark over multiple time frames. The table is fully customizable, allowing you to select its location on the chart and display performance metrics for different periods.
Features:
Customizable Table Location: Choose where the table appears on your chart from a range of predefined positions (e.g., bottom left, top center).
Dynamic Column Headers: The table includes columns for the ticker, description, and performance metrics for various time periods (1 day, 1 week, 1 month, 3 months, 6 months, and 1 year).
Performance Calculation: Calculates the percentage change in performance between the current close price and the previous close price for each time frame.
Color-Coded Performance: Uses a color scheme to highlight performance levels, with specific colors for positive and negative changes to easily visualize performance trends.
Benchmark and Asset Comparison: Displays performance metrics for both a benchmark (e.g., SPY) and the asset currently viewed on the chart, providing a clear comparison.
Inputs:
Benchmark Symbol: Specify the symbol of the benchmark asset (e.g., SPY).
Benchmark Description: Provide a description for the benchmark asset.
Chart Symbol: Automatically uses the symbol of the chart for comparison.
Usage:
Add the script to your TradingView chart.
Configure the benchmark symbol and description as needed.
The table will automatically populate with performance data and be positioned according to your selection.
Disclaimer:
This script is for informational and educational purposes only and is not intended as financial advice. The performance data displayed in the table is based on historical prices and is not indicative of future performance. Trading involves risk, and you should always do your own research and consult with a qualified financial advisor before making any investment decisions. The creator of this script assumes no responsibility for any losses or damages incurred as a result of using this tool.
Perfomance
Relative Performance TableThis indicator is based on the Performance section in the TradingView's sidebar and uses new Pine tables functionality, originally coded by @Beeholder. It compares the current price of the symbol to its past price and calculates the rate of return to make it easier to track the performance of the symbol. Note that the Performance sidebar is not updated in real-time, while this indicator is, so on real-time charts the values between the two can differ (the indicator's values are more recent). Made a number of enhancement from Bee's script including relative performance of a selected ticker, dynamic table columns, and other options.
The formula of the calculation is (Current value - Past value) * 100 / Past value, where Past value is:
1W
1M
3M
6M
9M
52W (1 Year)
WTD (Week to Date)
MTD (Month to Date)
YTD (Year to Date
--Future development will include the ability to transpose the table columns/rows
Perfomance index Strategy The Performance indicator or a more familiar term, KPI (key performance indicator),
is an industry term that measures the performance. Generally used by organizations,
they determine whether the company is successful or not, and the degree of success.
It is used on a business’ different levels, to quantify the progress or regress of a
department, of an employee or even of a certain program or activity. For a manager
it’s extremely important to determine which KPIs are relevant for his activity, and
what is important almost always depends on which department he wants to measure the
performance for. So the indicators set for the financial team will be different than
the ones for the marketing department and so on.
Similar to the KPIs companies use to measure their performance on a monthly, quarterly
and yearly basis, the stock market makes use of a performance indicator as well, although
on the market, the performance index is calculated on a daily basis. The stock market
performance indicates the direction of the stock market as a whole, or of a specific stock
and gives traders an overall impression over the future security prices, helping them decide
the best move. A change in the indicator gives information about future trends a stock could
adopt, information about a sector or even on the whole economy. The financial sector is the
most relevant department of the economy and the indicators provide information on its overall
health, so when a stock price moves upwards, the indicators are a signal of good news. On the
other hand, if the price of a particular stock decreases, that is because bad news about its
performance are out and they generate negative signals to the market, causing the price to go
downwards. One could state that the movement of the security prices and consequently, the movement
of the indicators are an overall evaluation of a country’s economic trend.
WARNING:
- This script to change bars colors.
Perfomance index The Performance indicator or a more familiar term, KPI (key performance indicator),
is an industry term that measures the performance. Generally used by organizations,
they determine whether the company is successful or not, and the degree of success.
It is used on a business’ different levels, to quantify the progress or regress of a
department, of an employee or even of a certain program or activity. For a manager
it’s extremely important to determine which KPIs are relevant for his activity, and
what is important almost always depends on which department he wants to measure the
performance for. So the indicators set for the financial team will be different than
the ones for the marketing department and so on.
Similar to the KPIs companies use to measure their performance on a monthly, quarterly
and yearly basis, the stock market makes use of a performance indicator as well, although
on the market, the performance index is calculated on a daily basis. The stock market
performance indicates the direction of the stock market as a whole, or of a specific stock
and gives traders an overall impression over the future security prices, helping them decide
the best move. A change in the indicator gives information about future trends a stock could
adopt, information about a sector or even on the whole economy. The financial sector is the
most relevant department of the economy and the indicators provide information on its overall
health, so when a stock price moves upwards, the indicators are a signal of good news. On the
other hand, if the price of a particular stock decreases, that is because bad news about its
performance are out and they generate negative signals to the market, causing the price to go
downwards. One could state that the movement of the security prices and consequently, the movement
of the indicators are an overall evaluation of a country’s economic trend.
