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You don't need to do any of that, Andy.
The information is already there. When the SPY buy signal is generated
you simply look at the ETFs sectors that are creating the movement.
Same for NASDAQ. If you want to get really technical about it, there's
a simple exploration technique using the relative strength comparator
formula which ranks the ETFs in relation to the SPY or QQQQ, when the
movement is taking place. That formula is explained in the newsletter.
Basically that's all you need. Everything else is price action.
Using Roy's formula to figure out how many of the stocks that make up
an individual ETF are advancing and declining won't work because the
stocks that make up an ETF or not equally weighted. The formula can't
account for weighting.
--- In Metastockusers@xxxxxxxxxxxxxxx, "metastkuser"
<andysmith_999@xxxx> wrote:
> Rodney,
>
> I want to do for some other ETFs what Roy has done for SPY and QQQQ.
> But the problem is that I don't have the A/D data or the New High/New
> Low data. And creating these from the stocks that make up the ETF is
> beyond what I can do right now in Metastock. If someone created the
> plugins, I'll buy them.
>
>
>
> --- In Metastockusers@xxxxxxxxxxxxxxx, "-=RIP=-" <platt_rodney@xxxx>
> wrote:
> > In Roy's June newsletter the following Q&A was given
> >
> > Q - Is there a way to create an indicator of this advance/decline
> > information to plot on a chart similar to one of the US market
> > trading systems outlined in Jim's articles?
> >
> > A - Yes, the long way. That means you'd need to scan every bar, one
> > at a time, and manually add the results to your own "A/D" security.
> > It would take a lot of time to do, but you'd only need to do it
> > once. I've looked at setting up exploration that can scan a week at
> > a time but I haven't come up with a satisfactory solution yet.
> >
> > I'm also very interested in creating such an indicator, but for the
> > life of me I can't see how to run this exploration on one bar at a
> > time? (Maybe I'm still to hangover from the races to see how to do
> > this right now). Also I may have the creating of the A/D – security
> > mixed up. As I'm thinking you put the totals of the last column from
> > the exploration into the close filed and a date into date filed of a
> > blank security is this correct or am I way off?.
> >
> > And on a side note, for those people that don't like to manually
> > write this data trough the downloader interface you can write it
> > with the help of a dll like metalab. So all you have to do is add a
> > call to your exploration and the data gets written when you run the
> > exploration. Saves a little bit of time :).
> >
> > Regards
> > Rodney
> >
> > P.S. trying to create this indicator for the ASX market if you
> > needed to know
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