Necessary Data...  [SOLVED]

Questions about MultiCharts and user contributed studies.
TonyB

Necessary Data...  [SOLVED]

Postby TonyB » 01 Mar 2012

I’m on the brink of purchasing MC and before I do so I’d like to make sure that my current data source for MC (OEC) provides the necessary data for the below to be realized as lower indicators:

1. To see the daily put / call ratio charted for an equity, or that of the market as a whole (NYSE or NASDAQ).

2. To see the market’s (NYSE or NASDAQ) number of daily new highs and lows charted. As an example, the NYSE currently has 125 stocks at new highs (52 week).

3. While I see the McClellan Osciallator available on MDCT, it doesn’t work for me. As I recall (it has been a while), it was because the data was not present for such a calculation. Basically, this oscillator is reflecting advancers vs delincers data...

If someone knows if these are possible with with OEC data, please share. I assume for #1, to pull that off, I'd need the open interest for all instruments. Number 2 would seem doable as the symbol's data should include OHLC. And as for #3, do any broker data feeds provide the number of advancing and declining issues? I believe most brokers have this data of course, but is it supplied in this fashion, like to MC?

Thanks much.

TonyB

Re: Necessary Data...

Postby TonyB » 02 Mar 2012

During a chat session on this topic, if we understood each other correctly, as explained to me, it is not possible to have an indicator below a chart that is not derived from that same instrument.

Is that correct?

If so, one cannot have the McCllelan Oscillator (MO), which is for a market (NYSE and NASDAQ typically, on a chart for the SPY or APPL, as an example? The other indicators of interest are also broad market derived, such a put / call ratios, and new highs / lows...

I currently have a couple charts in TOS where I have this with the MO's below... As I plan to transition over to MC exclusively, I'd like know if I can do this...

User avatar
JoshM
Posts: 2089
Joined: 20 May 2011
Location: The Netherlands
Has thanked: 1525 times
Been thanked: 1485 times
Contact:

Re: Necessary Data...

Postby JoshM » 02 Mar 2012

TonyB wrote:During a chat session on this topic, if we understood each other correctly, as explained to me, it is not possible to have an indicator below a chart that is not derived from that same instrument.

Is that correct?

That's true, unless you add a second data series to the chart. Then you calculate indicator based on this second data series.

This can also be done in MCDT, for example with ES and YM.
ES -> Data1
YM -> Data2 (if you set this instrument to Hide in the Format Instrument -> Setting, it will be loaded but not displayed on the chart)
Add indicator -> then type in the Input field something like 'Close Data2'.

Then you'll have an indicator derived from a chart that is not the same as the primary instrument.

TonyB wrote:If so, one cannot have the McCllelan Oscillator (MO), which is for a market (NYSE and NASDAQ typically, on a chart for the SPY or APPL, as an example? The other indicators of interest are also broad market derived, such a put / call ratios, and new highs / lows...

If you data feed has that market statistic, it can be plotted under each instrument. However, you'll need to have this Data2 series in each chart (though with custom code there is way around this).

TonyB

Re: Necessary Data...

Postby TonyB » 02 Mar 2012

JoshM, thank you for the reply and information.

I am left with some encouragement...

So, in the case of the MO indicator, so long as the data source provides advance / decline data, and I follow what you explain (2nd data series), I should see the MO indicator below...

With respect to all stocks in the NYSE or NASDAQ at new 52 week highs / lows, I wonder if MC would need that number "directly," like via a specific symbol, or simply derive it from OHLC data is provided already... I'm sure it would easier if the data provider had a symbol for such, as opposed to having to craft code to make it happen.

User avatar
TJ
Posts: 6584
Joined: 29 Aug 2006
Location: Global Citizen
Has thanked: 970 times
Been thanked: 1907 times

Re: Necessary Data...

Postby TJ » 02 Mar 2012

TonyB wrote:JoshM, thank you for the reply and information.

I am left with some encouragement...

So, in the case of the MO indicator, so long as the data source provides advance / decline data, and I follow what you explain (2nd data series), I should see the MO indicator below...

With respect to all stocks in the NYSE or NASDAQ at new 52 week highs / lows, I wonder if MC would need that number "directly," like via a specific symbol, or simply derive it from OHLC data is provided already... I'm sure it would easier if the data provider had a symbol for such, as opposed to having to craft code to make it happen.

The beauty of a programmable charting software is, you can do any calculation or analysis you can imagine. The EasyLanguage is powerful and easy to use. What you can get out of the software is only limited by your imagination.

If you have the data (OHLC), MultiCharts can analysis it for you.

With regards to 52 week high/low, if you have the data (eg. daily data that goes back 52 weeks), MultiChart can tell you instantly what is the 52 week high/low, or monthly high/low, or weekly high/low... You are a bit limited by the discretionary version because you can only use whatever indicators that come with the software, and not be able to program the specific analysis you have in mind. But with some clever tweaking, you can still extract a lot of custom analysis from those standard indicators.

TonyB

Re: Necessary Data...

Postby TonyB » 02 Mar 2012

TJ, reassuring, thank you.

I need to get on the 30 day free trial, and hopefully have enough time to see for myself. Heck, I might even take several days of vacation time just to get this ironed-out...

Of the "approved" MC brokers, there are not many who also do equities. OEC (who I have now), MBT and IB. I'll check if there are more, but I don't think so... Of these, IB would have the most market data? I get the sense that this information (the full extent of the data provided) is not readily available for us when shopping for a broker. IB was not exactly responsive before when I showed interest in becoming a client...

User avatar
JoshM
Posts: 2089
Joined: 20 May 2011
Location: The Netherlands
Has thanked: 1525 times
Been thanked: 1485 times
Contact:

Re: Necessary Data...

Postby JoshM » 03 Mar 2012

TonyB wrote:I need to get on the 30 day free trial, and hopefully have enough time to see for myself. Heck, I might even take several days of vacation time just to get this ironed-out...

You can also test it in MCDT, which works exactly the same as the regular MultiCharts, but without the coding possibilities. I'm not saying you shouldn't test MultiCharts (you definitely should give it a try ;) ), but taking vacation and rushing to test it might be a little bit too much. :)

TonyB wrote:Of the "approved" MC brokers, there are not many who also do equities. OEC (who I have now), MBT and IB. I'll check if there are more, but I don't think so... Of these, IB would have the most market data? I get the sense that this information (the full extent of the data provided) is not readily available for us when shopping for a broker. IB was not exactly responsive before when I showed interest in becoming a client...

IB would have the most market data available yes, but keep in mind that's its aggregrated / snapshot data of every 250ms or so, so not a true unfiltered tick data feed. Unless you want to trade on the very low time frames, this shouldn't be a problem.

Edited to add: other data feeds also provide some kind of aggregated data feed, and I did not mean to 'beat' IB in case the reader thinks I'm suggesting that - I'm quite satisfied with them.

MB Trading has the market statistics you're looking for (according to the Symbol lookup -> Statistics).

IB also has the advancing/declining issues (see their Symbol lookup and search for 'advance').

(According to their websites that is, I haven't verified this myself for these brokers)
Last edited by JoshM on 03 Mar 2012, edited 2 times in total.

TonyB

Re: Necessary Data...

Postby TonyB » 03 Mar 2012

TJ, thanks for spending the time to locate that information.

I saw advance / decline data at each MBT and IB. So, the MO indicator should work with that input. Still a little surprised OEC doesn't have this. I will check again... What I didn't see at either MBT or IB is new high / low data, but as you said earlier, that can be derived from from the OHLC historical data, and some EL magic. That computation would seem to be pretty labor intensive, going through all the NYSE stocks, extracting highs and lows for each over 52 weeks, to plot-out this lower indicator. But maybe it's just a matter of seconds, I don't' know... The EL coding would seem not to be all that difficult, and maybe it already exists...

As far as my other request, to see particular equity put / call ratios, as well as for the broader market, where might one source this data for MC? I didn't find it at MBT or IB. Great stuff here of course, but not a feed: http://www.cboe.com/data/putcallratio.aspx. Do even the paid data providers have this?

IB has tons of data, including international. Very appealing. I've read quite a a bit about IB not having tick data, in the true sense. For my stock and option trades, I'm using daily candles primarily. I will get down to minute charts sometimes when I want to better time an entry or exit. So, IB would seem to be just fine for that type of activity.

I remain very interested in futures though, but even then I found myself using 3 and 5 minute charts. When I have the time to get back into futures I'd get re-established at OEC (futures account), or go with Mirus, who I believe has Zen-Fire...

Oh, thanks for reminding me that I can test this with MCDT! I hate being rushed, so that was why I'd contemplate taking vacation time, to make sure I can dedicate the time to sort things out before make the purchase, with confidence.

I really appreciate your input. Thanks again.

TonyB

Re: Necessary Data...

Postby TonyB » 04 Mar 2012

JoshM, the thanks was meant for you above...

Above, the importance of Data1 and Data2 was mentioned. Is it possible to have more? The McClellan Osc itself seems to require two data points alone (of course), advancing issues and declining ones.


Return to “MultiCharts”