MasterDATA's Composite Plug-in for
MetaStock
and historical composite breadth datafiles on 31
major stock indexes and the 111 highest trade volume
ETFs.
Creating a Custom
Indicator Using
the "md.ByFile" Plug-in
Formula - 2
Using the "md.ByFile" (3 parameters)
formula builder, this section takes you through the step by step
process of creating a MetaStock Custom Indicator somewhat less
specific than Example 1. This indicator will retrieve one
statistical data series from the MasterDATA composite breadth
datafiles, for the MetaStock function base symbol and a static
data period. This specified data period will remain unchanged
in any MetaStock function in which it is used while the data value
will reflect the base symbol of the active MetaStock function.
Click on
,MetaStock's
Indicator Builder. The "Indicator Builder" dialog
window opens.
Click on the "New" button.
The "Indicator Editor" dialog window opens. Leave
this dialog window open.
Below is a working copy of the MasterDATA
Composite Plug-in "md.ByFile
Formula Builder" discussed previously.
Using this formula builder, make a new formula that retrieves
the composite statistic, "Total components advancing"
for the MetaStock function base symbol for the
weekly data period.
In the section, "Select
an Item in each category:", click on the drop
down box "Select Index or ETF" and click on
"Use the base security of the current MetaStock function".
Again, in the same section, "Select
an Item in each category:", click on the drop
down box "Select Composite Statistic" and click on
the desired statistic, in this case "Total components
advancing".
Finally, in the same section, "Select
an Item in each category:", click on the drop
down box "Select Data Period" and click on thel desired
data period, in this case "Weekly".
Then click on the button "Click Here
To Make the Formula". Your new formula will appear
in the subsequent "MasterDATA Composite
Plug-in Formula" section.
Click on the button "Click To Copy the Formula
To Your Clipboard".
Click in "Formula" field of the MetaStock
"Indicator Editor" dialog window you previously opened in step
two above. Paste your new formula in this "Formula"
field by holding down the "CTRL" key and pressing the "v"
key.
Type a "name" for your new indicator,
such as "Composite Weekly Advances".
Your finished custom indicator should appear
as follows:
This custom indicator will retrieve the "Total
Advancing Issues" statistic for the MetaStock function
base symbol for the "Weekly" data period no matter
what MetaStock function it is used in.
In the interest of keeping yourself organized,
you might consider placing an identifying punctuation mark or
letter at the beginning of your own custom indicators. This
simple addition will keep all of you custom indicators grouped
together.
For many, our formula builders will become
a normal part of their process in creating new indicators.
For others, it will be something used until they become familiar
with how the formulas work and statistic names. If you find
you no longer need the formula builders, use our "Composite
Data" page for a complete listing of all available statistics
in our composite breadth datafiles as well as the proper names
to use in the MasterDATA Composite Plug-in
formulas. Current MasterDATA Compilation list symbols my
be found in the "Masterfile2.csv" file located in the "C:\MasterDATA"
directory (if you installed to the default paths) or the
MasterDATA main web site.
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.
,MetaStock's
Indicator Builder. The "Indicator Builder" dialog
window opens.
