The Broad Market tool calculates many market-wide numbers, such as the
number or percent of Advancing Issues, Declining Issues, New Highs, New
Lows, stocks above a moving average, etc. SpyGlass uses these values
to calculate indicators such as the Advance/Decline Line,
Advance/Decline Ratio, Advancing minus Declining Issues, Arms Index (TRIN),
Breadth Thrust, Cumulative Volume Index, McClellan Oscillator, McClellan
Summation, New Highs minus New Lows Cumulative, New Highs/New Lows Ratio,
New Highs minus New Lows, Open-10 TRIN, Overbought/Oversold,
Upside/Downside Ratio, and Upside/Downside Volume. For a great
description of all of these indicators, see the book Technical Analysis
from A to Z.
Some of the values calculated by the Broad Market tool can also be
obtained from quote vendors such as Reuters Datalink.
Broad
Market Functions and Custom Formulas
Load Info
Last Date - the last date of data to load.
Time Periods - the number of time periods
to load. Data will be loaded even if a security doesn't have the
specified time periods (e.g., if you specify 500 days, and a security has
400 days, it will still be loaded).
Require Data on Last Date - select this
option to force the program to only load securities that have data on the
last date specified. This assures that only securities that are
trading as of the last date are included, and prevents any "old"
securities from being included. Maybe you want those "old"
securities, maybe you don't. It's up to you.
Calc Info
The Broad Market tool takes your calculation
instructions in straight-forward English. For example, to get the
number of advancing issues, you would select "Calculate the number of
stocks whose close is greater than their close yesterday".
To create a standard set of calculations, press the Batch button, then
press the Defaults button. Press OK to dismiss the Batch dialog,
then select the Batch checkbox. Add the folders that represent your
universe of securities, then press Calculate and all of your calculations
are done at once.
Calculate the - the result can be
displayed as a number or a percentage.
of securities whose - the first calculation field can be the close
or a moving average.
is - the mathematical relationship can be greater than, equal
to, or less than.
their - the second calculation field can be the close, a moving average,
the 250-day high, the 250-day low, or the close yesterday.
Batch Calcs - if you'd like to do multiple calculations at one
time, check this box and press the "Batch" button to set your
calculations.
MetaStock folders containing your "universe" of securities -
Place all of the folders that contain your universe of securities
here. The folders are all taken together as one
universe.
Where's the data?
For maximum flexibility, the resulting
calculations are put in two places.
First, a MetaStock folder named "Broad
Market Data" is created and filled with MetaStock files (this path
can be viewed and/or set by going to Tools | SpyGlass Options). This
allows you to load up a chart, and then cycle through all of the resultant calculations.
Second, the data can be retrieved by MetaStock
using the "ExtFml( "Broad Market.xxxx")"
function, where xxxx is the name of calculation, such as AdvancingIssuesPercent,
or CloseBelowMANumber. For Example:
ExtFml( "Broad Market.DecliningIssuesNumber")
You can also use the GetCustomData function.
For example:
ExtFml(
"Broad Market.GetCustomData", "c:\metastock data\broad market
data\NUM_CLOSE_ABOVE_250D_HI.TXT", "BroadMarket")
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