Description
The Swami Relative Performance study is a technical indicator designed for Thermo Mode; it is used for comparison of performance of two securities. Like in all Thermo Mode specific studies, shorter lookback periods reflect recent changes, middle range periods are used for confirmation, and the longest ones signify possibility of continuation.
In default color scheme, green areas indicate that current security is outperforming the benchmark one, red areas signify the opposite, and yellow areas suggest that the two securities are performing equally. Unlike Relative Strength, Swami Relative performance uses difference between price movements of the two securities, not the ratio.
Input Parameters
| Parameter | Description |
|---|---|
secondary symbol
|
The benchmark symbol against which the study is calculated. |
length
|
The number of bars used in calculations. |
Plots
| Plot | Description |
|---|---|
CPR
|
The Swami Relative Performance plot used in Thermo Mode. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.