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I thought I had seen a post before about creating a custom index, but couldn't turn up anything from the search function.
Does anyone know how to create a new security (custom index) summing the closes of desired equities that are to be included in the index?
As an example, suppose I wanted to create a Index (security) called 'Regional - Northeast Banks' that summed the closes for ticker symbols SYM1, SYM2, SYM3 and SYM4.
I can use the Security function to create an indicator based on the close of the desired securities, but I can't run the Explorer against an Indicator.
Any help would be appreciated... Thank you.
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Rank: Advanced Member
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hey topcat..... take a look in the download section for patricks dll.... it has a fml for summing a folders contents.... if only your index components were in the folder that would work....
you can write it out the long way, but patricks deal is better.....h
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Rank: Advanced Member
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Thanks hayseed... I have seen the dll and might be missing something, but isn't that still an indicator? I don't believe I can run an Exploration against it like I can a security (or other indexes like .djuscl).
I think (I may be wrong) that I would need to create a new security as an Index to run the Explorer on it???
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You can run it as an exporation (it might be a tad slow, but its still possible).
Whereas you might have compared the price of a stock today with the index Security("some index",C), you just compare the price with the indicator ExtFml("f.index",c) etc
Anyway, I thought Patrick took the index code out because it was causing too many crashes between the different versions of the MSFL.dll ? I haven't looked to see...
wabbit :D
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Rank: Advanced Member
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Okay, now I'm really confused. #-o
Maybe if I try and explain it another way it might help. I understand what you are saying about comparing the price of a security to my created indicator (index).
However, I want to create some indexes manually. Start the Explorer, select those indexes into the list for the exploration. From there I can explore for trend line breaks/touches, obv() trend line breaks, etc... on each index that I created.
In order to accomplish this, wouldn't I have to create a separate security for each index? Otherwise, I would be trying to exploring for indicators on an indicator?
I hope that makes a little more sense. Possible?
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Rank: Advanced Member
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Although it possible to get away without creating your own data files - they way I think you are describing is the much better option.
There is some thirdparty software available called "MSIndex" or something like that??? that allows you to create custom indexes relatively easily. I had it for a time, but kept crashing it! I think it was written for an old version of MS, because if you had more than 50 stocks in a folder, it died. And I could never validate the numbers it used. It did some sort of weighting algorithm, so you never got exactly what you were looking for.
I managed to find another called "Indicies Builder" which has a 14 day trial then just dies. Support from the authors is non-existent. You go to purchase the product and the sales system fails! I never got to put it through its paces.
I believe the Downloader can make composite securities, so you might want to investigate this opportunity.
Sorry I couldn't be any more help.
wabbit :D
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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
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Rank: Advanced Member
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Great resource Wabbit! Thanks for sharing.
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