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masterdata  
#1 Posted : Monday, September 26, 2005 11:18:33 PM(UTC)
masterdata

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Patrick wrote:
People always ask if XYZ plug in works well ... The real problem is that any plug in ( let's say most Mr. Green ) would work great if you actually understood how it worked and if you had experience with it. If you knew what type of market and securities, if you knew the small details that would cancel a bad signal, etc ... It is my opinion that one should study a plug in, in such depth that you actually know as much about it as its creator or simply create you own. Creating your own plug in does not mean "yeah I will call it {your name here}'s plug in and sell it for gold" Creating your own plug-in ( We are really talking about creating your own system Wink ), will actually make you study it as you develop it. As you are testing it, you will learn how it reacts to different markets, to different trends. As you find its short comings you will learn its personnality and train yourself to recognize these red flags. I could talk about the virtues of creating your own system for quite a while but that will be for another day. The real point of this message is to say that training is the best thing you can get and since this forum aspires to be the best thing we can give MetaStock user's I have created a training section. Unfortunately you have to be registered to see this section of the forum ( As always it is free, Have I ever charged you for anything? Smile ). The only reason I hide it is so that people don't just hot link to it from their website. And also because I like to see new members register everyday Very Happy I will let you know my war plan for training in a few days ... Have fun in the forum. Patrick
You might be overlooking composite / breadth data. With composite data you can write indicators on any index or ETF using statistics like total advancing and declining components within the composite, total advancing or declining volume, total new 52 week highs or lows, total components trading above their 200 day moving average and many, many more. Yes, each component issue is measured by some specific factor based upon OHLCV, and then the data combined to provide a total composite number, but many times these very important breadth indicators are overlooked because the data to build them was previously hard to come by. Indicators like the McClellan Oscillator & Summation, Advance/decline line, TRIN, etc. are all based upon composite / breadth data and can be applied to any index or ETF where composite data is available. I use it daily in MetaStock. MasterDATA
Jose  
#2 Posted : Monday, September 26, 2005 11:29:50 PM(UTC)
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So Larry, where can we find all this useful data? ;) jose '-)
masterdata  
#3 Posted : Monday, September 26, 2005 11:55:09 PM(UTC)
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Jose, I appreciate the straight line, but I am not going to jeopardize your good name by giving the obvious reply. Jose is a prolific and one of the best "gurus" on another large forum I belong to. You are fortunate to have him as a member. Let's just say, I am responding in the "Plug-ins, Add-ons" forum. MetaStock cannot, by itself, generate composite / breadth data on a scale to handle the Russell 1000 or 2000 Indexes or even the NASDAQ 100 Index. MetaStock is a great program, but even the best has to have some limits. The pre-compiled data I use is integrated into MetaStock through a plug-in. Yes, it is available for all MetaStock users. MasterDATA
Jose  
#4 Posted : Tuesday, September 27, 2005 12:05:28 AM(UTC)
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Larry, don't worry about jeopardizing my reputation - it's already tainted. :? A straight question: can you kindly give forum members a peek into what you would consider a useful trading strategy, using market breadth data? jose '-)
StorkBite  
#5 Posted : Tuesday, September 27, 2005 12:40:18 AM(UTC)
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Patrick wrote:
.... .... I won't say much because I know I'm in a bad mood ... I guess that's what happens when your vacation is over ... MasterData, welcome to the forum. If you have products related to the MetaStock software please post a topic in the appropriate board and describe what your product and service can do for metastock users. Please make it as descriptive and complete as possible, make sure to include the link to your website and give all neccessary info. now : Quote: MetaStock cannot, by itself, generate composite / breadth data on a scale to handle the Russell 1000 or 2000 Indexes or even the NASDAQ 100 Index. MetaStock is a great program, but even the best has to have some limits. Well there are plug ins that do this already, and the CustomIndex function in the forumdll might at some point fulfil this need ... Anyways ... Thanks, Patrick
masterdata  
#6 Posted : Tuesday, September 27, 2005 1:33:50 AM(UTC)
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Patrick, I think (or thought) I was in the right forum (Plug-ins Add-ons), so my reply to Jose just went there. I too am sorry for the confusion. (see http://forum.equis.com/viewtopic.php?p=8688#8688 for the referred to posting) Concerning the abilities of other plug-ins or add-ons I believe MasterDATA's Composite Plug-in is unique. Without developing datafiles outside of MetaStock, I am not sure it is possible to provide composite data "on-the fly" (at least not yet) for many composites of 100 and more components (both historical and current). Additionally, there is the matter of maintaining current component lists for the various indexes and ETFs covered. MasterDATA's plug-in has virtually no setup or maintenance other than downloading regularly. Please correct me if I am wrong. It would not be the first time although I will be surprised. A diligent effort was made to find anything that provided composite data, and such data was found to be non-existent. I would appreciate your review of the plug-in and data, good, bad or indifferent. Information and a free trial are available at http://www.masterdata4metastock.com. Thank you. Larry Carhartt MasterDATA
Jose  
#7 Posted : Tuesday, September 27, 2005 2:07:02 AM(UTC)
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masterdata wrote:
A diligent effort was made to find anything that provided composite data, and such data was found to be non-existent.
How about DeBry's Spyglass at http://www.debry.com ? And then there is the market breadth MS dll for the ADT market filters: http://www.metastocktools.com/ADT/ADT-05.htm http://www.metastocktools.com/ADT/ADT-06.htm This dll gathers data from a market breadth exploration, processes it, and writes it to a file. I'm fairly sure that composite data is not unique to MasterData, although who knows - perhaps its data may be more comprehensive than others. jose '-) http://www.metastocktools.com
Marilyn  
#8 Posted : Tuesday, September 27, 2005 2:28:13 AM(UTC)
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I have been working with Greg Morris on his new toolkit for MetaStock.. It accompanies his new book called Market Breadth Indicators. I am ordering some copies to sell in combination with his CD but will also have the CD separately. Honestly - I don't know much about Market Breadth Indicators but perhaps I can convince Greg to hop on the forum and chuck in his two cents.. Give me a couple of minutes.. :) M
masterdata  
#9 Posted : Tuesday, September 27, 2005 3:17:09 AM(UTC)
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Hi Jose, 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. Best Larry Carhartt http://www.masterdata4metastock.com
masterdata  
#10 Posted : Tuesday, September 27, 2005 3:30:52 AM(UTC)
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Hi M In case Greg doesn't want to mention it, he just published a new book, "Market Breadth Indicators" available early next month. I am looking forward to reading it. He has deep credentials in this field. Go to http://store.yahoo.com/s...charts/cogutomabrin.html (and no, I get nothing from sales). Again, the more information and discussion about composite / breadth data and indicators, the better for all of us. And Mr. Morris actually knows what he is talking about. Best Larry Carhartt http://www.masterdata4metastock.com
Jose  
#11 Posted : Tuesday, September 27, 2005 1:59:43 PM(UTC)
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Larry,
masterdata wrote:
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.
So basically, you provide Market Breadth data. Here is another MB data provider, with claims of reliable and clean data feed: http://www.pinnacledata.com/idx.html
masterdata wrote:
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.
The ADT dll extracts Adv/Dec $ turnover & normalized TRIN values as well. And yes, it produces data that may be used by any other MetaStock process.
masterdata wrote:
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.
Historical market breadth data can be extracted from any MS database using the ADT dll. However, this process takes a few minutes per data day, and would take several hours work for each year of data to be extracted.
masterdata wrote:
As with SpyGlass, it appears you must maintain your own component list(s).
No - the ADT dll simply extracts data from whichever data folder it is pointed at. Of course, doing it this way cannot deal with the survivorship bias issue.
masterdata wrote:
The MasterDATA Composite Plug-in was developed for ease of use and flexibility for any possible MetaStock application.
It sounds good to me. :) jose '-) http://www.metastocktools.com
masterdata  
#12 Posted : Tuesday, September 27, 2005 2:22:24 PM(UTC)
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Quote:
So basically, you provide Market Breadth data. Here is another MB data provider, with claims of reliable and clean data feed: http://www.pinnacledata.com/idx.html
I looked at the site you mentioned. Appears to supply some very interesting data, some of which is limited composite / breadth data. Again the composite data they do supply is apparently on the NYSE, AMEX and NASDAQ (these are traditional values of composite data available freely). MasterDATA supplies composite / breadth data on 61 major indexes and ETFs (includes the above 3 exchange composites). And not just advances/declines, advancing/declining volume, new highs/lows, etc., but many, many more. ANY indicator that you can use on an individual security can be compiled to make composite data. Why are we limited to the few traditional numbers? No longer. Also, as I mentioned before, with MasterDATA you just download and the data is ready to use in MetaStock. No importing, conversions or any type of manipulation. You download and use it. The process is very similar to downloading and using Reuter's data, but simpler still. Why do so many want to make their lives so complicated? Personally, I would rather spend my time using the data to trade with. Best Larry Carhartt http://www.masterdata4metastock.com
masterdata  
#13 Posted : Tuesday, September 27, 2005 2:44:27 PM(UTC)
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[quote=on-the-fly" except for very small composites. As processors get faster the day will come though. Our download takes less than a minute on broadband connections and dates from 1990 through current (or the begin date of the index or ETF). All datafiles, are updated hourly during the trade session and include, in addition to the composite data, OHLCV MetaStock format price files for each index and ETF with total component volume. All indexes now show volume. Even MetaStock EOD will display intraday values for our 61 indexes and ETFs. By the way, the numbers on approximately 3400 individual stocks are crunched each time we run an update (which takes about 6 minutes currently for an intraday run - then we re-run everything from scratch every night taking about an hour). Best Larry Carhartt http://www.masterdata4metastock.com PS I use this plug-in and data daily. It works on MetaStock version 7.22 and higher. I have yet to experience a crash or system freeze on my 9.0 version using it (over a year). Its as fast as Reuters data and, with a bit of experience, just as easy to use
Jose  
#14 Posted : Tuesday, September 27, 2005 3:50:02 PM(UTC)
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No doubt you have a useful product, Larry. :) I'm curious as to why the plugin download is 22Mb in size. Is it a biggish MS dll? And if it is free for 30 days, is it crippled after this time period? jose '-)
masterdata  
#15 Posted : Tuesday, September 27, 2005 4:20:22 PM(UTC)
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Jose wrote:
No doubt you have a useful product, Larry. :) I'm curious as to why the plugin download is 22Mb in size. Is it a biggish MS dll?
The dll itself is only 96 KB. The rest is data. With a modem, 22 MB is a lot. With a broadband connection, less than a minute. Daily data updates are 16 MB. Data includes the following: 1. Composite data on 61 major indexes and ETFs (beginning 1990) 2. MetaStock format price files with total component volume (ready to run in MetaStock) 3. Up to date component lists of all indexes and ETFs followed (in .sym files) - just copy to your Downloader folder to cycle charts or create explorations on a list of components 4. Numerous composite Custom Indicators, Layout, & Templates Soon a mechanism will be provided to reduce the "update" only file size. Basically, it will append and/or replace current data in the datafiles already on your computer. There will still, however, be the need for a full download on occassion to provide for changes in the component lists of the indexes and ETFs (a very regular occurance). Honestly, I am not sure how much, if any, time this will save users (because of processing time on their computer), but it will allow the addition of more composites to our list. Currently the list is about as big as practical for data download. [quote=md.base", advances) It only operates with data from the MasterDATA site. It makes no changes in MetaStock and uninstall is simply deleting one file (the dll). Just like the Downloader is free, but only works when you pay a data vendor for price data. Best Larry Carhartt http://www.masterdata4metastock.com
greview  
#16 Posted : Wednesday, September 28, 2005 1:26:30 PM(UTC)
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Marilyn asked me to visit this forum periodically. I will make it a point to try to visit at least once per week. Here's an update: My book, "The Complete Guide to Market Breadth Indicators" is finally out. I have also created an add-on with Equis to allow anyone with MetaStock to have access to the 165+ indicators for the NYSE, Nasdaq, and a combination of the two. (>500 indicators). The add-on can use breadth data from Reuters or Pinnacle. Martin Pring says it is every breadth indicator known to man. I see Larry Carhartt is active on this forum. His stuff is GOOD. I use it everyday. Please don't get upset if I don't respond to a question in the time frame you think I should - I will diligently try to visit at least once per week and hopefully more. Thanks, Greg Morris
StorkBite  
#17 Posted : Wednesday, September 28, 2005 3:18:37 PM(UTC)
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Hey Greg- Welcome to the forum! :D
StorkBite  
#18 Posted : Tuesday, October 4, 2005 9:50:54 PM(UTC)
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Receive my copy of 'The Complete Guide to Market Breadth Indicators". First impression is... wow! I'm hoping the Foreward is true and there is something inside for everyone from beginner to advanced. I'm starting at the beginning! Also, be sure to check out Greg's MetaStock Indicators.
masterdata  
#19 Posted : Wednesday, October 5, 2005 5:16:04 AM(UTC)
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I have removed the moving average "smoothing" from the Select Sector SPDRs comparison chart I posted previously. Doing so makes the chart a bit busier, but I think most of us can see through the resulting haze. Here is the updated chart: http://www.masterdata4me...art5_SPDRsAbove200MA.htm I will update these charts regularly (although maybe not daily - that is done hourly in another section of the site), but if there is anything to this one widely known composite / breadth indicator, you would have to take a closer look at the XLP (Consumer Staples SPDR), XLB (Materials SPDR), and XLY (Consumer Discretionary SPDR). All recently showed more than 30% of components trading below their 200 day moving averages with the subsequent number rising above that percentage. It never means "straight up", but it is a good reason to take a closer look. Although I am straying into the fundamental world, it does sort of make sense. Think of Katrina and Rita and pumping $200 billion into what was once an impoverished section of the United States (now, of course, it is, at least, publicly perceived as devastated) and how that money expansion will ripple through the US business complex. In the past, the Fed has seldom pumped that much money into the entire economy over the short run. I trade by technical analysis, but I like to make some common sense of it, too. If one decided that these SPDRs were a "buy", the entry price is another question altogether. Obviously, this is only a "reason to look closer" at this point in time. Best Larry Carhartt
Marilyn  
#20 Posted : Friday, October 7, 2005 7:32:04 PM(UTC)
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The Hindenburg Omen I guess this one is in Greg's Book and in the Add-on... Jim Miekka is the originator and it looks like it just predicted the last drop. The name cracks me up! Check it out! http://www.safehaven.com/article-3882.htm http://www.safehaven.com/showarticle.cfm?id=3880
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