efs indicator cumulative for the direction of a basket of stocks. - It’s possible ?

[max_net]

I have for example 5 stocks or more and I’d like to have one only indicator that indicate the direction of them, just positive or negative value.

Since that the stock may have different price maybe one have 10$ price another 70$ ecc, and may result very difficult to indicate the price on the scale, is enough in the price scale just positive or negative value.

I’m new and just starting to read and learn about efs, so I ask you if that is possible to build, or, if someone already know how to do it and post it here.
Thank in advance to all

[checkraise]

Hi max_net,

Can you just create a spread summing up (and weighting) the constituents of your basket, then chart the spread? You could run any of various built-in studies to show the direction of the spread. Depends what you mean by "indicate the direction". If you just want to compare the close of each bar to that of the previous bar, you could do that very easily in The Formula Wizard.

[max_net]

Hi checkraise thank for your reply ,

With direction I mean something like this :
for example I have IBM – MSFT -DELL-INTC- I’m looking to create a symbol that resume all them , and I thought that the only way to do this is creating some efs custom function ,
I think it should work like a sum of them , if for a total of 4 stocks 3 of them are going up then the it should give me a up trend move, and if the efs is build that show candlestick, so it will give a new candle ( up or down ) every min that chart update.

If you see at this link (http://forum.esignalcentral.com/show...6915#post76915 )
is possible to have an efs that display candlestick chart (candlestick indicator.efs ) and in it is possible change the symbol through Edit Studies, but it allow only one symbol , so more likely is possible too to build an unique symbol that resume more than one stock.
I’m just starting learn etf it will take some time for me to be able to try it, also in the way you suggested , can you try it and post here ?

[checkraise]

Hi max_net,

Now that I understand better what you want, I see that creating a spread wouldn't work. A spread of (IBM + MSFT + DELL + INTC) would go up even if 3 of them go down and just one goes up enough.

You want something like an Advance/Decline line, a study that compares each individual component of a basket to its previous value, rather than comparing the value of the entire basket or spread. Coding the EFS that you seek is beyond me but maybe someone else will give you a hand.

As for the EFS I was thinking of, comparing the close of each bar to that of the previous bar (for a single stock or a spread of several stocks), that is the same thing as the ROC(1) study, or something similar could be easily coded in The Formula Wizard if you wanted to compare more than just the last 2 bars.

Sorry I couldn't be of more help, I too am new at EFS and just use The Formula Wizard.

[max_net]

Hi checkraise, thank for your try it help me at the same , hope someone will add other info too