Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Location: Big Bear Lake, CA
I looked at the sites you mentioned and here are my impressions:
DeBry: If someone wants to really work at generating there own composite data within MetaStock, this may work, at least to a degree. In my experience, I have found that if something is not easy, in the long run, it will stop being done.
As I mentioned previously, there is virtually no maintenance with the MasterDATA Composite Plug-in. Just a download and you are ready to go.
Additionally, I cannot tell how long it takes to generate data for historical files with SpyGlass. Once downloaded, MasterDATA's files display just as fast as downloaded Reuter's data and are updated and provided hourly throughout the trade session.
For the price, you can have 2 1/2 years of fully maintained composite data from MasterDATA (or $10.00 per month with no contract period - the plug-in itself is currently free).
ADT-05 market trend filter & ADT-06 market trend filter: From what I see the dll included with this program seems to generate advancing and declining issues and also advancing/declining volume. I am not sure these values can be used in other MetaStock functions, however.
With MasterDATA's Composite Plug-in you can use the data just like any other data in any MetaStock function. If you want to use the MetaStock function "base" symbol, one formula does it as follows:
ExtFml( "md.base", advances)
For specific data there is one other formula as follows:
ExtFml( "md.alpha", RUT, advances, D)
No matter what MetaStock function this formula is used in, it will always display daily advancing issues for the Russell 2000 index (it is totally independent of the MetaStock "base" symbol). Also, with this formula you can specify mixed data periods thus display, daily, weekly, monthly and quarterly data all in one chart or use them in any MetaStock function.
By the way, to make these formulas easy to write, we supply a formula builder. Make your choices of the data you want and the formula is automatically created, ready to be pasted into MetaStock. I personally use them all the time.
Also, on both the ADT-05 and ADT-06, it is not clear how easily, it can be used with composites other than the ASX 500.
As with SpyGlass, it appears you must maintain your own component list(s).
I am sure that the individuals that developed these tools for MetaStock did their best to provide value to their customers. I am not criticizing them in any way. For their stated purposes, I am sure they are exactly what many need (although I have not personally used any of them).
Frankly, I developed this plug-in and data because I wanted to use it myself, for my own trading. Knowing myself, I needed it to be as easy and clear as possible, or I too, would stop using it.
The MasterDATA Composite Plug-in was developed for ease of use and flexibility for any possible MetaStock application. You use the data just like any other data you are used to. I fully expect many others to develop and offer composite data and tools over time. I encourage them. Together, we expose the investment world to the incredible power of composite / breadth data. It takes a while to get the ball rolling, but roll it we will.