What's your level of competence on the metastock indicator formula primer?
I have a great idea for vsa inspired indicator for metastock but I don't know how to build the formula in the indicator builder.
What I want to do is give all the asx 200 stocks a market cap weighted average, eg bhp 30% CBA 10% tls 5% etc. Then I want to take the weighted average of volume for all these stocks and build them into a single volume indicator which I could use to trade the index on my cfd account.
I have had some success trading index upthrusts and supporting bars on the 5 10 and 15 minute charts but there are a lot of trades I am sure to be missing because you can't get vol for indices. I feel if I can successfully build this indicator it could really put a rocket under trading of the indices.
I'm not sure if it can even be done, but it's just something I have had on my mind for a little while.
