Using Expressions
Symbolik's Saved Expressions gives users the ability to build and save custom indices or spreads to aid in the analysis of multiple securities. Using and analyzing spread charts is a popular way of analyzing relative strength between a set number of variables.
This kind of analysis can be typed directly into the Symbol Search bar in Symbolik and can then be saved as a custom Expression for quick and easy future reference. This includes the ability to include in Portfolios, Quoteboards, Scans and Alerts.
Some of the more popular ways these Expressions can be used include:
Security Comparisons: Dividing one symbol by another to produce a spread value and track as a single instrument. For Example: SPY vs. Gold: SPY/XAUUSD
Chart Inversions: If comparing two instruments with very low correlation, inverting one chart with this method will make them viewable moving in the same direction. For Example: 1 Divided by Bitcoin: 1/BTCUSD
Currency Conversions: Multiplying or dividing a security by a currency pair can show you the price of the security in a different currency. For Example: Amazon in Euros: AMZN/EURUSD
Exchange Arbitrage: Used to view the difference between the same security trading on different exchanges. For Example: Bitcoin Coinbase vs Bitcoin Gemini: COINBA:BTCUSD-GEMINI:BTCUSD
Custom Index: Create a custom index of symbols that are of particular interest to your strategy or portfolio. For Example: FANG: META + AMZN + NFLX + GOOG
Saving your Expression
Once you have charted your custom expression, you can save it for use in the future and create a custom symbol for quick and easy access. Click the drop down arrow on the right side of the symbol search box and choose Save Expression. Here you can give it a unique name and symbol.
Managing your Custom Expressions
In the right side toolbar, the calculator icon near the bottom of the menu will access the Expressions menu. You can click on the saved Expressions to immediately pull up a chart. You can also type your custom symbol in the symbol search box to chart your expression. From this menu, you can also add, edit, duplicate or delete your custom expressions.
Click the Expressions Icon in the right menu, hover over the Expression and click the ellipses menu to Edit, Duplicate or Delete.