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Hi,
can someone assist me how to create personal stock index.
I mean, an index similiar to Dow/Nasdaq.
I've selected around 30 stocks and I would like to create stock index based on those 30stocks.
First of all I tried to understand metastock by purchasing 'Metastock in Nutshell' and I couldn't find anything inside the book except a few simple steps.
If anyone has experience in creating index using metastock, your help is really appreciated.
HT.
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Rank: Advanced Member
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Joined: 9/8/2004(UTC)
Posts: 2,266
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The only way to create a index in Metastock That I know of is to use the security function.
It will unfortunatlely only be available as an indicator and might be kinda slow.
For example I want IBM, MSFT, INTC ...
I would write :
Security1:=Security("IBM",C);
Security2:=Security("MSFT",C);
Security3:=Security("INTC",C);
(Security1+Security2+Security3)/3
Of course you can add more securities to your formula but watch for the way you write it, as you are limited to 20 variables ...
Also you need any version of MetaStock Pro or MetaStock 9 EOD.
Hope this helps.
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Rank: Newbie
Groups: Registered, Registered Users, Subscribers
Joined: 2/10/2005(UTC)
Posts: 5
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Patrick,
thanks for your reply.
based on your formula, we're actually only creating a trendline as you get all the Security Closing Price divided by 3?
If possible I would like to create a stock index such as:
-opening price
-closing price
-high
-low
-volume
Similiar to what we can see in Nasdaq.
Is it possible to do this in Metastock by browsing the listed 'Securities'?
tx
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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)
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If you want a "full"index, then my only suggestion would be to create an excel file, calculate the values for your index every day and convert the excel file to MetaStock format.
It would be a pretty tedious task to accomplish everyday depending on how many stocks you intend to use in your Index. ( 30 securities being a lot to deal with , especialy if you want historical data )
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Rank: Newbie
Groups: Registered, Registered Users, Subscribers
Joined: 2/10/2005(UTC)
Posts: 5
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thank you.
Let me explore it later.
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