| Welcome Guest, please sign in to participate in a discussion. | Search | Active Topics | |
Registered User
Joined: 11/18/2008
Posts: 7
|
I would like some help on creating a custom index that will enable me to see seperate bar charts for each day (assuming daily charts).
I have been able to create a custom index, but it only shows a line graph of the price. I am wanting to see the hi/low and even candlestick charts if possible.
I basically want a simple barchart with a MACD indicator of the custom index. I'm thinking it will require some programming help. Look forward to hearing from you.
|
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
Any High or Low values created would be completely artificial as the Highs and Lows of the Components will not normally occur simultaneously (and even the Open stretches the definition of simultaneous if any lightly traded symbols are included in your Index).
You can create a MACD of a Custom Index by selecting Add Indicator | MACD of Indicator or MACD Histogram of Indicator and choosing your Custom Index as the Parent Indicator when prompted.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
|
Registered User
Joined: 11/18/2008
Posts: 7
|
Bruce, the DIA is an idex of 30 stocks and we are able to see a bar chart for each day's activity with a hi and low value. I just want to do the same thing with a personal (ie custom) index with 5 stocks of my choosing (in the same sector) that combine the opening of all 5 stocks and the close of those 5 stocks to give us a hi/low. This should also allow us to look at candlesticks if we chose.
1) The custom index I was able to create, I had to save as a tab or style.
2) I was able to get the MACD indicator at the bottom of the chart.
3) But, I want it to look just like a stock chart.
4) I realize those hi low numbers may not have much meaning, but I'm just wanting a personal index price chart that mimics a stock chart. If I like the divergence pattern between the price chart and MACD indicatior I'll drill down into the individual components and look at them individually. If it doesn't have the look I want, I'll just pass on that custom index and look at the next one I create of a different sector.
Any help would be appreciated.
|
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
I've created these fake Bars for Indexes before. I was just trying to warn you about the results.
The Dow Jones Industrial Average is constructed from the Intraday data of its components with the Open, High and Low being the actual Open, High and Low of the Dow Jones Industrial Average throughout the day.
This is completely different from constructing the Dow Jones Industrial Average from only the Opens, Highs, Lows and Closes of its components. Doing so almost always results in tails that are longer than the actual tails the bar would have had if the Index were calculated from the Intraday data with the Bars having narrower bodies compared to the entire price range than they should. It may "look" like a price chart, but it isn't a price chart. The Highs and Lows are exagerated and completely bogus (and the Open is to a great extent bogus as well).
You should be able to Open the attached Indicator directly into a running copy of StockFinder (and save it from within StockFinder if desired).Attachments:
WL Avg of OHLC Prices.sfInd - 6 KB, downloaded 447 time(s).
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
|
|
Guest-1 |