Percentage view is a TOS feature that enables you to view price changes as percentage values. This can be especially useful when assessing the price action in terms of its own previous values, rather than the absolute ones. There are several ways of viewing price percentage in TOS Charts.
1. Chart Settings
1. Click the Style button above the chart and choose Settings... from the drop-down menu. The Chart Settings window will appear.
2. Navigate to the Price axis tab and select the Show price as percentage check box. This will view all high, low, open, and close prices as the percentage change of the first bar’s close price. This price will thus define the zero level.
3. Select the Show bubbles as percentage check box if you prefer chart bubbles to display the current price value as the percentage as well.
2. Quick Settings
These settings can be also quickly customized by clicking the Price axis settings button in the top right corner of the chart. Percentage view can be enabled by clicking the Show price as percentage check box. To enable the percentage view for chart bubbles, select the Show bubbles as percentage check box.
3. Custom zero level
There is also an option to set the zero level as the close price of any bar, not just the first one on chart. All the displayed prices will also be expressed as the percentage change of that price. Note that custom zero level is only available when the percentage view is enabled.
In order to enable the custom zero level, right-click the bar whose close price you prefer to view as the benchmark. Choose Set bar as 0% from the menu. This will add a horizontal line at the level of the close price and also update the labels displayed on the price axis. The zero level line uses the color specified for the chart grid in the Appearance settings. Position of the custom zero level line will be reset to default (i.e., to the close price of the first bar on chart) if you change the time frame of the chart. You can also reset it manually by right-clicking upon the zero level and choosing Reset to default 0% level from the menu.
Keep in mind that if there are any of the Comparison studies on chart, they will use the custom zero level instead of their own.
4. Trendline and Channel
The Trendline and the Channel drawings can be used as a quick trick to view price percentages even if you are not using the price axis in percentage mode. These two drawings display labels with all the principal parameters which include the percentage change between the endpoints. Use the trendline as a ruler: connect any two points on chart with it and the label will display the corresponding percentage change. The channel, on the other hand, can be used as caliper: it allows you to view easily the precise percentage change between two points enclosed by its lines; the channel height will define this percentage.