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Rajiv,
IndicesBuilder does not allow you to use indicators such as MACD when bulding an index. So, No, it will not do what you are looking for.
Pete
> To: equismetastock@xxxxxxxxxxxxxxx
> From: rajiv1@xxxxxxxxx
> Date: Sun, 22 Feb 2009 22:51:46 -0500
> Subject: Re: [EquisMetaStock Group] Backtesting S&P 600
>
> Hi Pete:
>
> Thanks very much. This is what I was looking for. Am wondering if you
> or anyone on this forum has used IndicesBuilder. This allows you to
> build custom indices using your MetaStock files. You get volume as
> well as chart and run tests on MetaStock.
>
> I am wondering if this is an easier and scalable solution?
>
> Rajiv
>
>
>
>
> On Sun, Feb 22, 2009 at 4:31 PM, Pete Lieber <plieber@xxxxxxxxxxxxxx> wrote:
> > Rajiv,
> >
> > If I understand you correctly, you want the combined MACD for all 600 stocks
> > in the S&P 600! I've been doing this for years with Indexes especially the
> > 30 stocks that comprise the DJ-30.
> >
> >
> >
> > If this is what you want to do, it's easier to put all 600 stocks plus the
> > Index into one folder.
> >
> > Next you make a series of indicators, 20 indicators with 30 securities
> > each. I'd name them "M1", "M2", "M3", etc. The "M" stands for MACD. If
> > you were to use say RSI, I'd name the indicators "R1", "R2", "R3", etc.
> >
> > Next for indicator M1 put in the following formula"
> >
> > security("aaa",MACD()) + security("bbb",MACD()) + security("ccc",MACD())
> > + etc.
> >
> >
> >
> > Note: the attached Text file has the code for all 600 stocks!
> >
> >
> >
> > After doing all 20 indicators you want to add them all up into one
> > indicator. Call it MADC600 with the formula fml("M1") + fml("M2") +
> > ….fml("M20")
> >
> >
> >
> > However the problem with the above is that it does not take into account the
> > individual weighting of each component stock. You don't want to give the
> > same weight of a security that comprises 0.2% of total market capitalization
> > to one that comprises 1.1%.
> >
> >
> >
> > The other problem with back testing indexes this way is that the component
> > change frequently (with the S&P's it's several times a year). I've believed
> > this is one of the reasons why most S&P trading systems eventually fail.
> > The nature of the index changes over time as the component mix changes.
> >
> >
> >
> > The DJ-30 is a lot easier to weight because it is price weighted. Attached
> > are Text files of the DJ Weighted MACD and DJ Weighted RSI14. The
> > indicators must be attached to a DJ-30 Index chart. I've had very good luck
> > with timing the DJ-30 this way.
> >
> > Pete
> >
> >
> > ________________________________
> > To: equismetastock@xxxxxxxxxxxxxxx
> > From: rajiv1@xxxxxxxxx
> > Date: Sat, 21 Feb 2009 11:17:45 -0500
> > Subject: [EquisMetaStock Group] Backtesting S&P 600
> >
> > I am trying to back test certain predefined indicators on S&P 600
> > Midcap. Metastock gives results and the final output for each stock.
> > Is it possible to say back test S&P 600 with MACD and get one final
> > number for the index rather than individual stocks?
> >
> > Thanks,
> >
> > Rajiv
> >
> >
>
>
>
> --
> Rajiv
> Sent from: Baltimore Maryland United States.
>
>
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