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Really, at the moment, simply composite / breadth data and a very easy way
to get it into MetaStock with the plug-in (plus some basic breadth custom
indicators, layouts & templates - hopefully enough to get someone started).
It will evolve beyond that, but everything takes time. I appreciate your
comment though. I will try to get the thing focused again. It probably
reflects the way I think. In about 50 different directions at one time.
The site represents a tremendous, long term effort and I know that to really
make it work now, I must create a logical path for new site visitors.
One of the biggest obstacles is that composite / breadth analysis is little
known by most investors. Data has never been widely available to work with,
so this branch of technical analysis did not grow like the rest. Its really
too bad. With all the ETFs around these days, investors would be so much
better served by doing composite / breadth analysis on the components of
these composites. When I found out a few years ago that the data still was
not available, I decided to do it myself. I have some major heavyweights in
the technical analysis field encouraging me (no not money-wise) and I will
get this method back in the mainstream again eventually (I hope). If not, I
do get to use it myself.
Best,
Larry Carhartt
MasterDATA
The Only Source for Index & ETF Composite/Breadth Reports, Charts & Data
www.MasterDATA.com
lc@xxxxxxxxxxxxxx
818-701-6686
-----Original Message-----
From: equismetastock@xxxxxxxxxxxxxxx [mailto:equismetastock@xxxxxxxxxxxxxxx]
On Behalf Of mgf_za_1999
Sent: Wednesday, September 28, 2005 9:29 PM
To: equismetastock@xxxxxxxxxxxxxxx
Subject: [EquisMetaStock Group] Re: Constant price from a specific date -
FOLLOWUP
No problem! Thanks for a great attitude, as they said some time ago, I'm ok,
you're ok. Had a look at your site - great but, as in the FAQ, not sure what
you are selling..... I'll just keep on reading....
Regards
MG Ferreira
TsaTsa EOD Programmer and trading model builder http://www.ferra4models.com
http://fun.ferra4models.com
--- In equismetastock@xxxxxxxxxxxxxxx, "Larry Carhartt" <lc@xxxx> wrote:
> You are right. I am wrong. I appreciate your not letting me get
away with
> it. I am so used to writing code in my own obscure way, I misread
your code
> thinking it was multiplying percent change by 100. Thank you very
> much.
>
> Best,
>
> Larry Carhartt
>
> MasterDATA
> The Only Source for Index & ETF Composite/Breadth Reports, Charts &
> Data www.MasterDATA.com lc@xxxx
> 818-701-6686
>
>
>
> -----Original Message-----
> From: equismetastock@xxxxxxxxxxxxxxx
[mailto:equismetastock@xxxxxxxxxxxxxxx]
> On Behalf Of mgf_za_1999
> Sent: Wednesday, September 28, 2005 8:58 PM
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: [EquisMetaStock Group] Re: Constant price from a specific
date -
> FOLLOWUP
>
>
> These two formulas give *exactly* the same result. They will only
differ due
> to rounding, and then the simpler one will be more accurate. *Both*
of them
> will never go negative.
>
> The idea of the former is to calculate (baseless) percentage changes
> and apply that to 100 (or 1000 or whatever) while the idea of the
> latter
is to
> rescale so that the value at BeginYearPx is equal to 100 (or
whatever). I
> guess you ran into the negative values with the percentage change
idea where
> it can easily happen.
>
> Not that it matters that much as, again, both give the same answer.
> What matters is that neither will go negative.
>
> Regards
> MG Ferreira
> TsaTsa EOD Programmer and trading model builder
http://www.ferra4models.com
> http://fun.ferra4models.com
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "Larry Carhartt" <lc@xxxx>
> wrote:
> > I originally tried as you suggest (not the same code as yours but
> similar
> > idea) and realized it does not work with negative numbers. The
> parentheses
> > make all the difference. The percent change is "added" to 100 to
> make all
> > the historical prices above zero. Simply multiplying by 100 allows
> > the result to remain negative. Negative values will not plot in a
bar
> > or candlestick chart. For a line chart, what you suggest works fine
> > since lines can display below zero.
> >
> > Thank you
> >
> > Best,
> >
> > Larry Carhartt
> >
> > MasterDATA
> > The Only Source for Index & ETF Composite/Breadth Reports, Charts &
> > Data www.MasterDATA.com lc@xxxx
> > 818-701-6686
> >
> >
> >
> > -----Original Message-----
> > From: equismetastock@xxxxxxxxxxxxxxx
> [mailto:equismetastock@xxxxxxxxxxxxxxx]
> > On Behalf Of mgf_za_1999
> > Sent: Wednesday, September 28, 2005 8:17 PM
> > To: equismetastock@xxxxxxxxxxxxxxx
> > Subject: [EquisMetaStock Group] Re: Constant price from a specific
> date -
> > FOLLOWUP
> >
> >
> > You could simplify the last line a bit, it now does something like
> >
> > x + calcs - x
> >
> > and you can simplify it to simply
> >
> > calcs
> >
> > Instead of
> >
> > 100+((C-BeginYearPx)/BeginYearPx*100)
> >
> > use
> >
> > 100 * C / BeginYearPx
> >
> > which is a lot easier to understand and change in future. The
> > original version calculates the percentage change and applies that to
> > 100
> while this
> > version simply rescales the close so that it is equal to 100 at the
> > beginning of the year. Same result, but different approaches. One
> looks like
> > rocket science, other is a simple rescaling calculation.
> >
> > Anyhow, if you ever want to change it, say to start at 1,000 in
> > stead
> > of 100, or 1 or whatever, this is easier to do as well. Also, note
how
> > the ratio is being used here, to catch up on some other discussions.
> >
> > Regards
> > MG Ferreira
> > TsaTsa EOD Programmer and trading model builder
> http://www.ferra4models.com
> > http://fun.ferra4models.com
> >
> >
> > --- In equismetastock@xxxxxxxxxxxxxxx, "Larry Carhartt" <lc@xxxx>
> > wrote:
> > > Thanks, Jose. I realize that. Because I publish these datafiles
> > > for
> > > download, I didn't want users to have to download the full database
> > every
> > > night. By the setting the constant price to the last day of last
> > year, they
> > > only will be "required" to fully download once a year. Soon,
> > > instead
> > > of doing a full download nightly, I am rewriting the plug-in so they
> > will only
> > > need to download the current day's data and it will put itself
> > > into the right place in their file (append or replace). If I set
> > > the
> > constant price
> > > exactly one year ago, "all" the price values for the equal
> > > weighted
> > prices
> > > would change daily thus affecting the entire data base every day.
> > > I
> > realize
> > > the current relative price shown will be measure from the start
> > price of the
> > > current year. In terms of the overall price history, however,
> > everything
> > > stays aligned properly between stocks, indexes and ETFs. They are
> all
> > > reduced to a common denominator, 100.
> > >
> > > Best,
> > >
> > > Larry Carhartt
> > >
> > > MasterDATA
> > > The Only Source for Index & ETF Composite/Breadth Reports, Charts
> > > & Data www.MasterDATA.com lc@xxxx 818-701-6686
> > >
> > >
> > >
> > > -----Original Message-----
> > > From: equismetastock@xxxxxxxxxxxxxxx
> > [mailto:equismetastock@xxxxxxxxxxxxxxx]
> > > On Behalf Of Jose Silva
> > > Sent: Wednesday, September 28, 2005 4:55 PM
> > > To: equismetastock@xxxxxxxxxxxxxxx
> > > Subject: [EquisMetaStock Group] Re: Constant price from a specific
> > date -
> > > FOLLOWUP
> > >
> > >
> > > Larry, you've set the month variable in your code to last
> > > December,
> > > so that currently it is only measuring the last ten months.
> > >
> > > To save a lot of time (and possible errors) with the date setting,
> > > you could try Richard's excellent NexusDate.dll to automate this
> > > process for you in MetaStock:
> > >
> > > ---8<------------------------
> > > { Download NexusDate.dll from:
> > > http://www.tradernexus.com/nexusdate }
> > >
> > > x:=ExtFml("NexusDate.DaysOld")>=366;
> > > StartDate:=x=0 AND Alert(x,2);
> > > BeginYearPx:=LastValue(ValueWhen(1,StartDate,C));
> > >
> > > 100+((C-BeginYearPx)/BeginYearPx*100)
> > > ---8<------------------------
> > >
> > >
> > > jose '-)
> > > http://www.metastocktools.com
> > >
> > >
> > >
> > > --- In equismetastock@xxxxxxxxxxxxxxx, "Larry Carhartt" <lc@xxxx>
> > > wrote:
> > > >
> > > > Although many of you supplied answers for my earlier inquiry
> > regarding
> > > > finding the price of 1 year ago and setting it as a constant
> > > > (and
> > > > I appreciate the response very much), I elected to use Roy
Larsen's.
> > > > For reasons that I will spare you, I now have decided to use
> instead
> > > > the last closing price of last year as the constant. In other
> > words, I
> > > > will be calculating the rate of return for the current calendar
> > > > year both forward (this is normal practice) and backward (not very
> common)
> > > > based upon the closing price of the last trade day of last year.
> > > > I
> > > > modified Roy's formula as follows:
> > > >
> > > > Sm:=12;
> > > > Sd:=28;
> > > > Sy:=LastValue(Year()-1);
> > > >
> > > > StartDate:=(DayOfMonth()>=Sd AND
> > > > Month()=Sm AND
> > > > Year()=Sy);
> > > >
> > > > BeginYearPx:=LastValue(ValueWhen(1,StartDate,C));
> > > >
> > > > 100+(((C-BeginYearPx)/BeginYearPx)*100);
> > > >
> > > > I know it is more than a little modified, but Roy's original
> > > > formula introduced me to some MetaStock functions I had never
used
> > > > before. THAT is the true value of this forum. Yes, you may get
> > > > the exact answer you need, but you can learn from every answer
(from
> guys like
> > > > Roy, Jose, Richard and many more I should be mentioning). By the
> > > > way, I still plan on using Roy's original formula for other
> purposes
> > > > (with full credit, of course). And, Jose, thank you for getting
> > > > my
> > > > brain kick-started by pointing out the problem with simply
> > > > accumulating percentage gains/losses.
> > > >
> > > > When I use the above as the formula for the custom indicator, it
> > > > generates the correct values. You may notice that I also modified
> > the
> > > > last line (my addition) so that the year always starts with a
> > value of
> > > > 100. The reason for this is that I plan on additionally
> > > > generating OHLC MetaStock format price files outside of MetaStock
> > > > and then converting those files to MetaStock (that code will be
> > > > based on the same formula). That way, I can display bar or
> > > > candlestick charts
> > with
> > > > the new "relative" OHLC prices. OHLC price files won't plot
> > > > negative values, so starting at 100 always keeps the value above
> > > > 0 even
when
> > > > going back previous to the beginning of the year or if the
current
> > > > price is down for the year. In other words, if the security is
> > down 3%
> > > > from the current year's beginning price, the displayed value for
> > > > that day will be 97. It really seems to do a good job of
> > > > keeping the displayed value properly aligned with the actual
> > > > price and
current
> > > > rate of return without drift of any kind.
> > > >
> > > > I think I mentioned this before, but in case you are tuning in
> > > > late, where I am really going with this is to recalculate all the
> > > > indexes and ETFs I work with to equal weight composites. Most
> > > > indexes are either cap weighted like the S&P 500 Index or price
> > > > weighted
> like the
> > > > Dow Jones Industrial Average. To do that, I need to apply this
> > formula
> > > > to each of 3400 components I follow then recalculate the
> > > > historical data on the composites using the values given by the
> > > > above formula
> > and
> > > > then simply total them and divide by the number of components in
> > > > the index or ETF. Voila, an equal weighted composite (I think or
> > > > hope).
> > > >
> > > > Again, I appreciate everyone's input on this.
> > > >
> > > > Thank you.
> > > >
> > > > Best,
> > > >
> > > > Larry Carhartt
> > > >
> > > > MasterDATA Composite Plug-in For MetaStock
> > > > The Only Source for Index & ETF Composite/Breadth Historical
> > MetaStock
> > > > Data <http://www.masterdata4metastock.com/>
> > > > www.MasterDATA4MetaStock.com <mailto:lc@x...> lc@xxxx
> > > > 818-701-6686
> > >
> > >
> > >
> > >
> > >
> > >
> > >
> > > Yahoo! Groups Links
> >
> >
> >
> >
> >
> >
> > Yahoo! Groups Links
>
>
>
>
>
>
> Yahoo! Groups Links
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