Rank: Advanced Member
Groups: Registered, Registered Users Joined: 3/19/2005(UTC) Posts: 2,995
Was thanked: 14 time(s) in 10 post(s)
|
Seems like we talked about this once, but I can't find it...
Is it possible to create a custom indices based on a group of stocks that I select, and plot, for example, their average close as a reference? What options are available to me?
I found these programs doing a GOOG search:
Indices Builder, avail: http://www.aptrio.com/Business/Finance/indices-builder-download-3810.html
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 9/8/2004(UTC) Posts: 2,266
Was thanked: 1 time(s) in 1 post(s)
|
Hey g ... That could be my next dll function ;)
Alright here is the idea, let me know what you think.
What if I harcode a path to a folder in a program that will create a "folder average value" and returns it into MetaStock in a dll ...
So let's say I have a folder called :
C:\\MyData\\ForumDllIndex
In this folder I can add and remove any security I want and my dll will always calulate the average of the securities in that folder.
... Should I charge 2000 Dolars ? :D
Patrick :mrgreen:
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users Joined: 3/19/2005(UTC) Posts: 2,995
Was thanked: 14 time(s) in 10 post(s)
|
Quote:Should I charge 2000 Dollars?
Well... I guess you could charge 2 million dollars and sell the same amount! :lol:
It would be great if you could do it in your dll. You'd give me a reason other than curiosity to use it. Right now, it's just over my head... (not your fault)! I was reading that indices are simply all of the closing prices added together and multiplied by a constant factor to set an appropriate scale. That makes more sense to me than an average price of the folder.
If you were able to do this, would you be able to import the data back into the chart in the way of a graph?
You have my attention! :D
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 9/8/2004(UTC) Posts: 2,266
Was thanked: 1 time(s) in 1 post(s)
|
I will take a look at it and let you know if I can figure something decent.
Patrick :mrgreen:
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users Joined: 3/19/2005(UTC) Posts: 2,995
Was thanked: 14 time(s) in 10 post(s)
|
What about TSA's SpyGlass Market Toolbox? What all does that do?
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users Joined: 3/19/2005(UTC) Posts: 2,995
Was thanked: 14 time(s) in 10 post(s)
|
You know, one way to manage custom indices outside of MS is to use the Reuter's datalink to import prices into an Excel worksheet via the DDE. From there, you could average, add, or whatever... even graph. But, it would be outside of MS. That's the drawback.
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 9/10/2004(UTC) Posts: 863 Location: Salt Lake City, UT
|
From what I can gather SpyGlass did a lot of that sort of stuff.... unfortunately we stopped selling it in our last catalog. I don't think it did very well and we just removed it from our product offering...
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users Joined: 3/19/2005(UTC) Posts: 2,995
Was thanked: 14 time(s) in 10 post(s)
|
hmm...
You're funny! Like Paul Harvey's "The rest of the story...". LOL! :lol:
I guess it does a guy good to have inside friends!!!!! Thanks, M!
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 3/7/2005(UTC) Posts: 1,346
|
hey g.... might be missing something here, but if your trying to achieve something like the dow 30, thats possible in meta.... you could plot, apply experts, and indicators to the g 30 just like with any index.... creating a g 300 might be asking too much however......
what do you mean by 'and plot, for example, their average close as a reference'...... h
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users Joined: 3/19/2005(UTC) Posts: 2,995
Was thanked: 14 time(s) in 10 post(s)
|
Hey h-
I want to be able to create a pool of securities (perhaps 50-100) and see how they perform as a group. I thought about an index because that way I could compare the individual securities within the group to the index. I'd like to plot the closes of both the security and the index on the same chart (different scales, of course). Then be able to graphically make comparisons.
My comment about plotting the average close as a reference was spurious... not on point. Really what I want to do is represent a group of closes with one number. I can add two securities to the same chart, but I don't know how to represent a group of securities as whole.
There it is... clear as mud :D
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 3/7/2005(UTC) Posts: 1,346
|
hey g.... thats easier still.... first an error in my previous post, experts that have a volume component might be tough to apply....
my first thought was you were creating an index such as 'smh' or 'sox'.... that can be done, just as easily as setting up a portfolio for realtime.... experts and indicators can be applied.....
sounds like your interested in creating an indicator.... by applying the indicator to a security the correlation is easy to see.....
use this type form for your indicator....
name= g index
(Security("C:\\MetaStock Data\\Nasdaq100\\aapl", C))+
(Security("C:\\MetaStock Data\\Nasdaq100\\adbe", C))+
(Security("C:\\MetaStock Data\\Nasdaq100\\adct", C))+
(Security("C:\\MetaStock Data\\Nasdaq100\\altr", C))+
(Security("C:\\MetaStock Data\\Nasdaq100\\amat", C))+
(Security("C:\\MetaStock Data\\Nasdaq100\\amgn", C))+
(Security("C:\\MetaStock Data\\Nasdaq100\\amzn", C))+
(Security("C:\\MetaStock Data\\Nasdaq100\\apcc", C))+
(Security("C:\\MetaStock Data\\Nasdaq100\\apol", C))
add additional securities as needed, use (Security("ONLINE:us;aapl",c)
for real time...... h
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users Joined: 3/19/2005(UTC) Posts: 2,995
Was thanked: 14 time(s) in 10 post(s)
|
Hey h-
You sure do make things simple! :smt023
I've attached my new index indicator. It's exactly what I was looking for. The formula I used looks like this:
CloseSum:=
Security("C:\\MetaStock Data\\G4Index\\acu",C)+
Security("C:\\MetaStock Data\\G4Index\\aeos",C)+
Security("C:\\MetaStock Data\\G4Index\\aet",C)+
Security("C:\\MetaStock Data\\G4Index\\affx",C)+
Security("C:\\MetaStock Data\\G4Index\\anf",C);
Mov(CloseSum,12,E);
Still, you have my curiosity peaked about your sox-type index. Please, tell me more. I might as well keep the thinking cap on.
I think Patrick's idea about creating a dll function to automatically perform a summation or average or whatever on all securities within a folder would be great too. That would keep us from having to enter the individual symbols. Then updating the index would be completely painless. No indicators to update.
Thanks a lot!
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 3/7/2005(UTC) Posts: 1,346
|
hey g.... csco's gitting its socks knocked off, so this will be quick but expanded later....
open the down loader and create a new security call the g 30 index or something.... click on data sheet in that box.... now go to your chart where your 'index' indicator was applied, right click on it and choose copy.... now go back to the downloader and paste in that data......
your new index security, g 30 will be created with all the historical data.... you can easily apply indicators/experts..... follow same road to create real time portfolios......
it helps me to keep my creations in a seperate folder, named commitment, for my first attempts were in creating investor senitment , cot, type charts to track the commercials .....
there are several routes you could take but patricks idea sounds like the by far best path.... not having seen a mdk i'm not completly sure whats it capable of....
speaking of paths, wasn't the market suppose to follow csco..... :wink: .... h
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users Joined: 3/19/2005(UTC) Posts: 2,995
Was thanked: 14 time(s) in 10 post(s)
|
uh oh... csco... gapped down. I don't suppose you are short?
Thanks for part 2 of the indices builder lesson. I was able to follow it through and create my file without any problems. I'm going to really look at all of this closely now, because I think it is going to change the way I use MS. For sure, it adds a new element to my trading. Thanks!
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 3/7/2005(UTC) Posts: 1,346
|
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users Joined: 3/19/2005(UTC) Posts: 2,995
Was thanked: 14 time(s) in 10 post(s)
|
Well... a couple of comments after spending more time with this.
First, I knew that I saw this stuff before, but couldn't figure out where. Luckily, I found it in the Formula Primer, pp. 66-68. I think I skipped over those exercises in the beginning because I couldn't figure out how it would apply to me. DUMB! Anyway, I can rest my mind now.
Second, even though the method works like a charm, there is a 2500 character limit in the indicator builder, so this puts the brake on index building pretty quickly. I suppose if you didn't have a long path name to contend with you could get more milage out of it, but my path names are pretty long so the most I am able to squeeze out of the character limit is about 20-25 securities.
OK P, the ball is in your court. 8:-)
|
|
|
|
Users browsing this topic |
Guest (Hidden)
|
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.