Custom Formula Collection

There is a way to get the negative volume on an advance-decline line chart in MetaStock for Windows.

The requirement is: Each security must have both the number of issues and the volume in the file. Advancing issues with advancing volume in one security and declining issues with declining volume in one security file. These files may be obtained from Reuters Trend Data by way of The DownLoader for Windows. You will also need to create a composite security of the Advance-Decline line, which is the advances - declines.

The following steps will get you an advance-decline line with negative volume where applicable. Follow these steps once and save as a CHART. When you want to use it simply load the chart and the program will calculate the new volume plot using the new data.

• Create a NEW chart of the advancing issues.
   
• Create a NEW chart of the declining issues.
   
• Create a NEW chart of the advance-decline composite.
   
• Create a NEW INNER WINDOW on the declining issues chart.
   
• Delete the volume plot on the advance-decline composite chart.
   
• Copy the volume from the advancing issues chart and paste it into the new inner window on the declining issues chart.
   
• Drop the custom formula, P-V on the advancing volume plot in the declining issues chart, creating a new scale.
   
• Copy that plot to the empty inner window (where the volume was) of the advance-decline composite.
   
• Save that chart as the adv-decl chart (perhaps advdecl.mwc).

This will be the chart you load to do your study of the advance-decline line with negative volume.