Compare Charts in GoCharting
GoCharting’s Compare Charts feature enables traders to analyze multiple securities or indicators side by side. This functionality is essential for identifying correlations, trends, and divergences between different assets, enhancing decision-making and strategy development.
How to Use Compare Charts
- Select the Compare Option: Start by choosing the “Compare” option from the chart menu.
- Add Instruments: Add the desired securities or indicators you wish to compare.
Adjusting for Price Differences
If the prices of the instruments being compared vary significantly, you can switch to a % Scale for a more effective comparison:
- Enable % Scale: Right-click on the Y-axis (price axis) of the chart and select ”% Scale” from the context menu.
Using the % Scale allows for a clearer visual representation of price movements, making it easier to analyze relative performance and trends between the selected instruments. This feature empowers traders to gain deeper insights into market dynamics at a glance.