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.BySym" Plug-in Formula
Using the "md.BySym" (1 parameter) formula builder, this section takes you through the step by step process of creating a simple MetaStock Custom Indicator. This indicator will retrieve one statistic from the MasterDATA composite breadth datafiles. This statistic can then be used in any 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.BySym Formula Builder" discussed previously. Using this formula builder, make a new formula that retrieves the composite statistic, "Total components advancing". In the section, "Select a statistic:", click on the drop down box and then click on the desired statistic. 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 "Advancing Issues".
Your finished custom indicator should appear as follows:
This custom indicator will retrieve the specified composite breadth statistic for any index or ETF on MasterDATA's current compilation list. The retrieved data will use the "base" symbol of the currently active MetaStock function. The data period of the values retrieved will be that of the "base" symbol.
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.
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.
