MasterDATA's Composite Plug-in for
MetaStock
and historical composite breadth datafiles on 34
major stock indexes and the 181 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.
