What is the Indicator Builder?
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With all the built-in indicators that MetaStock offers, you may be wondering why you'd ever need to create your own indicators. Well, technical analysis is constantly evolving. The hot new indicator of today is soon overshadowed by another. For this reason, MetaStock provides a powerful tool called the Indicator Builder that lets you create indicators.
Maybe you've read about a new indicator in a trade magazine or a new book. Chances are, you'll be able to create the indicator with the Indicator Builder.
The Indicator Builder is considered a "power tool, " that is, it is not considered a mainstream, basic feature of the program. To effectively use the Indicator Builder, you'll need to understand basic mathematical concepts and logical expressions.
Due to the inherent complexity in the design and creation of custom indicators, trading systems, explorations, and experts, Equis cannot provide free support for this process. However, support is available for a reasonable fee. Call Equis at 801-265-9998 for details or fill-out the FORMULA HELP.DOC file found in the MetaStock folder. This file is viewable with WordPad.
For information on the Equis Solution Provider program and the MetaStock Developer's Kit, go to http://www.equis.com.
Indicators created with the Indicator Builder are plotted exactly like built-in indicators. They can be dragged from the Indicator QuickList or plotted from the Indicators dialog.
If you are familiar with writing formulas in spreadsheet programs (i.e., Microsoft Excel, Lotus 1-2-3, etc.), this probably looks familiar to you. You may be able to start writing your own indicators immediately. If this looks foreign to you, don't worry--the Indicator Builder Tutorial (see Indicator Builder Tutorial) will help you get up to speed.
What is the Indicator Builder?--------------------------------------------------------------------------------With all the built-in indicators that MetaStock offers, you may be wondering why you'd ever need to create your own indicators. Well, technical analysis is constantly evolving. The hot new indicator of today is soon overshadowed by another. For this reason, MetaStock provides a powerful tool called the Indicator Builder that lets you create indicators.Maybe you've read about a new indicator in a trade magazine or a new book. Chances are, you'll be able to create the indicator with the Indicator Builder. The Indicator Builder is considered a "power tool, " that is, it is not considered a mainstream, basic feature of the program. To effectively use the Indicator Builder, you'll need to understand basic mathematical concepts and logical expressions.Due to the inherent complexity in the design and creation of custom indicators, trading systems, explorations, and experts, Equis cannot provide free support for this process. However, support is available for a reasonable fee. Call Equis at 801-265-9998 for details or fill-out the FORMULA HELP.DOC file found in the MetaStock folder. This file is viewable with WordPad. For information on the Equis Solution Provider program and the MetaStock Developer's Kit, go to http://www.equis.com.Indicators created with the Indicator Builder are plotted exactly like built-in indicators. They can be dragged from the Indicator QuickList or plotted from the Indicators dialog.If you are familiar with writing formulas in spreadsheet programs (i.e., Microsoft Excel, Lotus 1-2-3, etc.), this probably looks familiar to you. You may be able to start writing your own indicators immediately. If this looks foreign to you, don't worry--the Indicator Builder Tutorial (see Indicator Builder Tutorial) will help you get up to speed.
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