MasterDATA's Composite Plug-in for
MetaStock
and historical composite breadth datafiles on 30
major stock indexes and the 111 highest trade volume
ETFs.
Statistics Available In
MasterDATA's Historical composite breadth Datafiles
The table below lists all the statistics
available in MasterDATA's composite breadth datafiles.
The bold text describes the statistic. The text below
the bold text title is the name that should be used in the
two MasterDATA Composite Plug-in formulas to retrieve that
particular statistic into your MetaStock function.
Click
on the help
buttons for additional information about the statistic.
Open Price Of the Index / ETF open
High Price Of the Index / ETF high
Low Price Of the Index / ETF low
Close Price Of the Index / ETF close
Trade Volume Of the Index / ETF tradevolume
Equal Weight Open Price eqwtopen
Equal Weight High Price eqwthigh
Equal Weight Low Price eqwtlow
Equal Weight Close Price eqwtclose
Upper Trend Channel uppertrendchannel
Trend Channel Pivot pivot
Lower Trend Channel lowertrendchannel
composite breadth Statistics:
Total Component Up Trends uptrends
Total Component New Uptrends newuptrends
Total Component Down Trends downtrends
Total Component New Downtrends newdowntrends
Total Component Advancing Volume upvolume
Total Component Declining Volume downvolume
Total Volume Of All Components totalvolume
Total Components Advancing advances
Total Components Declining declines
Issues Traded traded
Issues Unchanged unchanged
Total Component New Highs newhighs
Total Component New Lows newlows
Total Component New 1st Day Highs newhighs1stday
Total Component New 1st Day Lows newlows1stday
Total Component Quarterly New Highs qnewhighs
Total Component Quarterly New Lows qnewlows
Total Component Quarterly New 1st Day
Highs qnewhighs1stday
Total Component Quarterly New 1st Day
Lows qnewlows1stday
% Of Components Above Their 200 Period
Moving Average percentabove200ma
% Of Components Above Their 30 Period
Moving Average percentabove30ma
% Of Components Above Their 18 Period
Moving Average percentabove18ma
% Of Components Above Their 9 Period
Moving Average percentabove9ma
% Of Components Above Their 4 Period
Moving Average percentabove4ma
Total Components Above Their 200 Period
Moving Average above200ma
Total Components Below Their 200 Period
Moving Average below200ma
Total Components Equaling Their 200
Period Moving Average equal200ma
Total Components Above Their 30 Period
Moving Average above30ma
Total Components Below Their 30 Period
Moving Average below30ma
Total Components Equaling Their 30 Period
Moving Average equal30ma
Total Components Above Their 18 Period
Moving Average above18ma
Total Components Below Their 18 Period
Moving Average below18ma
Total Components Equaling Their 18 Period
Moving Average equal18ma
Total Components Above Their 9 Period
Moving Average above9ma
Total Components Below Their 9 Period
Moving Average below9ma
Total Components Equaling Their 9 Period
Moving Average equal9ma
Total Components Above Their 4 Period
Moving Average above4ma
Total Components Below Their 4 Period
Moving Average below4ma
Total Components Equaling Their 4 Period
Moving Average equal4ma
Future Values:
FV2
FV3
FV4
FV5
FV6
FV7
FV8
FV9
FV10
FV11
FV12
FV13
FV14
FV15
Details On
Available Statistics
Index or ETF Open, High, Low,
Close, Trade Volume
Description:
Historical
price data from 1990 through the current date (or starting
date of the index or ETF if later) is contained in the
composite .csv datafiles.
Index or ETF Equal Weighted
Open, High, Low, Close
Description:
composite breadth data is inherently equal weighted,
meaning that every component counts equally in the
totaled composite number. For instance, if
328 components of the S&P 500 Index gain for the
day, the "advances" composite statistic is 328.
One stock does not carry more or carry less weight
than any other. On the other hand, the majority
of indexes and ETFs are not equal weighted, but
instead, either price weighted like the Dow Jones
Industrial Average or Cap Weighted like the S&P
500 Index.
The possibility therefore exists that, at least
to some extent, using composite data with market
priced indexes and ETFs could be like comparing
apples and oranges. To address this issue,
these values reflect recalculating historical price
history of each index and ETF as an Equal Weight
composite. For more information about index
and ETF weightings,
click here (this
is a .pdf file).
Historical price data from 1990 through the current
date (or starting date of the index or ETF if later)
is contained in the composite datafiles.
Use
Eliminates any possible weighting method conflict
when using composite breadth data with an index
or ETF. While the overall chart patterns remain
basically the same, price moves are generally smoother.
A large price move in a heavily weighted component
does not overly impact the index or ETF value unless
other components experience similar movement.
From a technical analysis point of view, equal weighting
might be considered the ideal weighting methodology
for composites. In any event, the data is
provided at no additional charge. It is your
decision and your decision alone to use it or not.
Calculation:
For each component:
Relative Component
Price =
100 *
Current Price
Beginning Current
Year Close Price
For
the parent index or ETF
Equal Weighted
Composite Price =
Total of Relative Component Prices (above)
Number of Components
Traded
This calculation is performed
on the open, high, low and close prices for each
data period to create the historical price file.
A proprietary
indicator identifying the current trend of the subject
security. Historical data from 1990 through the
current date (or starting date of the index or ETF if
later) is contained in the composite datafiles.
Click Here
for an example of this indicator.
Use
An old
market axiom is "Follow the Trend". This is true,
but also as trends age there is a growing certainty
of an eventual reversal. Readily "seeing" the
current trend may provide opportunities for entering
positions earlier to take advantage of such reversals
in aging trends. In any case, knowing the current
trend keeps trading perspective.
Closes
above the middle pivot line (red line on our web site
charts) are defined as an uptrend, while closes below
this line are indicative of a downtrend.
The
above described MasterDATA Trend Channel Indicator is
calculated for each component issue of the subject index
or ETF. This information is then compiled to determine
the number of issues within the index or ETF that are
in new or continuing uptrends or new or continuing downtrends
for any given period. Historical data from 1990
forward through the current date (or starting date of
the index or ETF if later) is contained in the datafiles.
Click Here
for an example of using this statistic. The indicator
is expressed in terms of percentage.
Use
If knowing
the current trend of the subject index or ETF is important,
knowing the current trend of every component issue within
that index or ETF provides tremendous insight into the
"internals" of what is happening. Overbought and
oversold conditions are readily identified as well as
potential Index turning points and likelihood of a continuing
trend.
Index/ETF Volume - Advancing,
Declining and Total Volume Of All Component Issues
Description:
The
total advancing, declining or combined volume of all
component stocks within the index or ETF. While
this volume data is readily available from other sources
for the NYSE, AMEX and NASDAQ composites, it is available
here for all indices and ETFs followed and contained
not only in the composite datafiles, but also total
component volume is contained in the historical MetaStock
format price datafiles for all indexes and ETFs followed.
Click Here
for an example of advancing and declining volume used
to calculate two indicators, the McClellan Volume Oscillator
& Volume Summation Index.
Use
Total
advancing, declining and combined index/ETF volume can
say a great deal about the current movement and conviction
of the market index especially relative to historical
volume. This statistic is used in many composite
indicators. These compiled statistics are used
in calculating the index or ETF McClellan Volume Oscillator
and Volume Summation Index, TRIN, Arms Index, Open Arms
Index, Climactic Volume Oscillator (CVI), etc.
Total
Components Advancing, Declining, Unchanged and Traded
Description:
The
total number of advancing, declining, unchanged and
traded component issues is calculated for the index
or ETF for the given data period. Historical data
from 1990 forward through the current date (or starting
date of the index or ETF if later) is contained in the
datafile.
Click Here
for an example of these values used to calculate two
indicators, the McClellan Oscillator & Summation Index.
Use
This
compiled statistic is used in calculating the index
or ETF Advance/Decline line (AD Line), McClellan Oscillator
& Summation Index, TRIN, Arms Index, Open Arms Index,
etc.
The
total number of new one year highs or new one year lows
in component issues is calculated for the index or ETF
for the given data period. Historical data from
1990 forward through the current date (or starting date
of the index or ETF if later) is contained in the datafile.
Click Here
for an example of these values used to calculate an
indicator.
Total
components with new 1st day one year highs or lows is
calculated for the index or ETF by counting the total
number of components setting new price highs or lows
for the first time with no immediately previous new
price high or low.
Use
There
is a definite tendency that one new high will be followed
by subsequent new highs. New highs often mark
the beginning or end of a trend. Both also apply
for new lows.
The
total number of new one quarter highs or new one quarter
lows in component issues is calculated for the index
or ETF for the given data period. Historical data
from 1990 forward through the current date (or starting
date of the index or ETF if later) is contained in the
datafile. Used exactly like new one year highs
and lows above.
Click Here
for an example of these values used to calculate an
indicator.
Total
components with new 1st day one quarter highs or lows
is calculated for the index or ETF by counting the total
number of components setting new price highs or lows
for the first time with no immediately previous new
price high or low.
Use
There
is a definite tendency that one new high will be followed
by subsequent new highs. New highs often mark
the beginning or end of a trend. Both also apply
for new lows.
Component Closes Above Specified Period
Moving Averages
Description:
A count
of component issues above a specified moving average
expressed as a percentage or provided as an actual count
of components above, below or equal to that moving average.
Historical data from 1990 forward through the current
date (or starting date of the index or ETF if later)
is contained in the datafile.
Use
The
percentage of component issues above their 200 day moving
average is considered a reliable indicator of long term
movement in the securities market. When above
70% and subsequently declining below 70% it is considered
to mean that the long term direction of the market has
turned bearish. Vice-versa, when below 30% and
subsequently rising above 30% a bullish indication is
given.
Click Here
for an example of this indicator.
The
same chart (lower inside window) displays the percentage
of components above their 4 day (green line), 9 day
(black line), 18 day (pink line) and 30 day (blue line)
moving averages. The shorter term moving averages
provide remarkable insight into the shorter term internal
strength or weakness of the index or ETF. Developing
and deteriorating trends may be detected very early.
Disclaimer: This material is for your private
information. We are not soliciting any action based upon
it. Opinions expressed are present opinions only. The
material is based upon information considered reliable,
but we do not represent that is accurate or complete,
and it should not be relied upon as such. We, or persons
involved in the preparation or issuance of this material
may, from time to time, have long or short positions in,
and buy or sell the securities or options of companies
mentioned herein.
