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