SIM Custom Weighted Index Maker

2024年12月18日

SIM Custom Weighted Index Maker

The UNIQE SIM Custom Index Maker is a versatile and customizable indicator designed to help traders create their own personalized index using up to 10 different symbols. This tool is particularly useful for those who want to monitor the performance of a specific group of assets, such as meme coins, tech stocks, or any other category of interest. Additionally, users can now assign weights to each symbol, allowing for a more tailored index calculation.

Key Features:

Symbol Selection:

• - Users can select up to 10 different symbols to include in their custom index.
  
• - Each symbol can be individually enabled or disabled, allowing for flexible index composition.
  

Weight Assignment:

• - Users can assign weights to each symbol, providing more control over the influence of each symbol on the index.
  
• - By default, all symbols are equally weighted.
  

Timeframe Selection:

• - The indicator supports both the chart's current timeframe and a fixed timeframe, providing users with the flexibility to analyze data at their preferred granularity.
  

OHLC Price Calculation:

• - The indicator fetches the Open, High, Low, and Close (OHLC) prices for each enabled symbol.
  
• - It then calculates the weighted average OHLC prices across all enabled symbols to create the index values.
  

Index Visualization:

• - The custom index is plotted as candlesticks, with green candles indicating a rise in the index value and red candles indicating a fall.
  
• - The wicks of the candlesticks are colored gray for better visual distinction.
  

Usage:

Select Symbols:

• - Input the symbols you want to include in your index. You can choose up to 10 symbols.
  
• - Enable or disable each symbol as needed to fine-tune your index.
  

Assign Weights:

• - Assign weights to each symbol to control their influence on the index. By default, all symbols are equally weighted.
  

Choose Timeframe:

• - Decide whether to use the chart's current timeframe or a fixed timeframe for data analysis.
  

Analyze the Index:

• - The indicator will plot the custom index on your chart, allowing you to monitor the collective performance of your selected symbols.
  

Benefits:

• - Customization: Create an index tailored to your specific interests or investment strategies.
  
• - Flexibility: Easily add or remove symbols and adjust their weights to fine-tune the index composition.
  
• - Visualization: Clear and intuitive candlestick representation of the index for easy analysis.
  

The SIM Custom Weighted Index Maker is a powerful tool for traders looking to gain insights into the performance of a custom group of assets, making it an essential addition to any trader's toolkit.