TRADERS' TIPS ADVANCE-DECLINE LINE AND MCCLELLAN STUDIES I am frequently asked by new MetaStock users how to create the advance-decline line and McClellan studies in MetaStock. The procedure for doing this has changed for users who have upgraded to MetaStock 3.0, so I will explain how to create these market timing studies in MetaStock Professional 3.0. The first step is to collect data for advancing issues and declining issues using two separate files. Next, create a composite security for these files. This is accomplished from the File Maintenance menu. To access the File Maintenance menu, press [F] or use the File/Data pulldown menu. Select [A]dd and [C]omposite security from the File Maintenance menu. Choose adv issues for the first composite security and dec issues as the second. Name the composite and choose subtraction as the operator. |
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