Log
The logarithm of the value, natural by default; empty on bars where the value is zero or below.
Log takes the logarithm of its input in the chosen base, e by default. Equal percent moves give equal steps, so it compares moves across price levels: a rise from 100 to 110 and one from 1000 to 1100 move the line by the same amount. Values of zero or below have no logarithm, so those bars are left empty.
How to read it
- The line sits in its own pane: about 6.2 for a 500-dollar close in the natural log.
- Equal steps up mean equal percent rises, wherever the price sits.
- For small moves the change in the natural log is close to the percent change.
What it outputs
- Logarithm
- The logarithm of the close in the chosen base.
Settings
- Base
- The base of the logarithm. Base 10 counts powers of ten and base 2 doublings; a larger base gives smaller readings. Below 1 the sign flips, so larger values read lower.
Pitfalls
- Values at or below zero have no logarithm, so the line is empty there; feed it prices or ratios, not changes.
- A base of exactly 1 has no logarithm; keep the base away from 1.