First of all, I would like to thank all the posters on the ET Direct Access Brokers forum. I learned a lot from here. I trade correlation of two stocks intraday and would really benefit from seeing the ratio b/w two stocks, as well as the Bollinger bands of the ratio, in the same chart. I contacted IB CS, and was told that is not feasible. Any other software that will allow me to that? I tried Ninja, but could not find a charting tool for that. Am I missing something? Any help or pointer will be greatly appreciated. njrookie
Ninja has a very flexible indicator system, but it sounds like you'll have to roll your own since you've got something pretty specific in mind. Assuming you've got the algorithm for the correlation you want to compute I'm guessing it would be fairly simple to code. It's free unless you actually place orders through them, so it's worth checking out.
Ninja is a good choice - I'd also mention Amibroker which can connect to IB as well. The code for a ratio is simple: fc = foreign("StockB","C"); ratio = C / fc; plot(ratio,styleline,colorblue); (The plot command may be off - I'm not in front of my normal computer). You could then add a BB to that ratio.
Tradestation has a tool called spread ratio which is what I use. Plus I wrote a simple indicator for use in TS too. Here is another way out for you. Use this software http://www.freestockcharts.com/ and plot the relative strength of your stock against the other stock. This software is free and is Wordens Web product. For all the bells and whistles you have to pay for it but the free version is good enough by itself. John
Thanks a lot for the response. I did not know you can program in Ninja for addtional chart types. It is something that I will definitely look into. As for Tradestation, does it support data feed from IB? njrookie
Version 7 of ninja will let you plot two stocks on the same chart but not the difference between them.