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New MS users, needs help with understanding capabilities
Rank: Newbie
Groups: Registered, Registered Users
Joined: 5/23/2007(UTC)
Posts: 2
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Hello all, I'm trying to explore MS, and having a difficult time understanding when to use the Downloader to filter stocks, when to use the explorer, and the enhanced system tester. So here's a simple scenario I'd like to perform. This is probably not tradable, but just to help me understand the capabilities. Don't necessarily need the forumlas written for me (Although that would be fine if you have the time), but I'd like to understand where everything belongs.
Start with all NASDAQ listed stocks, trading at between 5$ & 50$, and within 5% of their 52-week high. First I'd like to manually view these charts to perform charting analysis on these.
Second, I'd like to backtest this filter over the past year, with a Buy long when the above conditions are met as well as an open that has gapped down, and a sell when a 15% profit or the stock downward from the 5% of the 52-week high.
Make sense?
Thanks for the help
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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Hi Craig, Hopefully this late night and post-red-wine explanation will help solve your questions: MS comes ready to use right out of the box; all you need is a data provider. You can get your data through Reuter or eSignal, or any of the other data providers that are out there... See the data related issues section of the Forum BEFORE you choose a data provider. Once you have your data, MS comes in four "sections": - Indicators - MS comes with a whole swag of built in indicators such as moving averages, RSI, stochastics etc that you can use, or you can write your own indicators using the MetaStock Formula Language (MSFL)
- Experts - A feature that you can add to charts to highlight different conditions and plot when different signals occur. There are some pre-packaged experts, or again, you can write your own.
- Explorations - this is where you "filter" your stocks. You can use any of the pre-packaged exploration codes, or you can write your own. This just returns a list of stocks that meet your criteria; yuo can view the charts for further analysis, or run subsequent explorations on the results of the first exploration.
- System tests - is where you can test mechanical trading system to see how your system performs. You can use the pre-packaged system tests or write your own.
The Downloader is not a 'tool' for charting per se; it is an application that runs parallel with MS to download data from specific data providers, i.e. Reuters or eSignal. (Other data providers have their own applications to download their data). It also has some rudimentary data maintence issues in-built. One of the benefits of using MS is that is can be used basically stright-out-of-the-box and its programming language (MSFL) is simple enough to learn and use easily, but just powerful enough to fulfil the requirements of many of its users. (To really extend the capabilities of MS requires the use of more powerful programming languages, and this is delving to some very advanced concepts.) I hope this helps. wabbit [:D]
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Rank: Newbie
Groups: Registered, Registered Users
Joined: 5/23/2007(UTC)
Posts: 2
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Ok, this is good information. So a bit more info, I'm using Reuters datalink for the data. And I'm a programmer / Application architect by trade, so I'm intimately familiar with programming. If MS doesn't provide what I need out of the box, what are my options, and what are the supported programming languages?
Thanks!
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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The MSFL will provide MOST of the TA requirements for MOST users, right out of the box. In addition, there are a number of free add-in libraries of functions, and many commercial ones too.
Should you need to extend beyond the limits of the MSFL, you can purchase the MetaStock Developers Kit (MDK) that will allow you to write win32.dll files for MS in PowerBasic, Delphi, or C/C++.
For more information on the MDK, see the MDK section of the Forum and/or contact Equis.
Hope this helps.
wabbit [:D]
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