Technical Studies Reference
Difference (Bar or Single Line)
This study calculates the difference between two charts. Refer to the Multiple Chart Studies instructions for the steps to use this type of study. These two charts must be open at all times and be within the same Chartbook for this study to work properly.
The displayed graph can be either a Bar or Single Line. If you use the Bar version, the actual graph type is set through the Graph Draw Type setting on the Subgraphs tab of the Study Settings window for the study.
For every bar/column in this study, it references the corresponding bar/column in the chart being referenced (through the Chart 2 Number Input). This is the nearest matching Date-Time value in the chart being referenced compared to the Date-Time of the corresponding bar in the chart this study is on.
The Single Line version of this study calculates the difference between the selected Input Data of the chart this study is applied to and the same Input Data element in the chart specified with the Chart 2 Number Input. For example, if the Input Data Input is set to Last, then it is the difference between the Last value of a bar in the chart that this study is applied to and the Last value of the corresponding bar in the specified chart.
The Bar version of the Difference study calculates the difference between the Open, High, Low, and Close values independently, for each bar in the chart the study is applied to and the corresponding bar in the chart being referenced which is specified by the Chart 2 Number Input.
If the Open or the Close differences exceed the High or Low differences, then the High and/or Low are adjusted so that the Open or Close differences do not exceed them. For the greatest accuracy you may be interested in the High Accuracy Spread study configuration.
When either chart used in the calculation is updated, then the last column of the study and any new columns of the study in the chart are updated.
*Last modified Friday, 21st April, 2017.