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Converting Excel data to Metastock format
Converting Excel files to Metastock files can be frustrating. The problem
usually is related to the date structure, format and hidden formulas. Some traders create
synthetic Excel files using market data. These include advance_decline data, new high-new
low data, or data used to track an individual portfolio average. Excel has very limited
charting abilities when compared with Metastock so there is an advantage in turning the
Excel data into a Metastock file.
For more advanced users, this process also provides a way to set up a
DDE link with live data coming into an Excel spreadsheet that is linked to a Metastock
file which is updated. The same direct links can be used to develop Excel based
indicators which are displayed on a Metastock data file. This might include plotting the
equity curve calculated in an Excel spreadsheet directly over the appropriate price chart.
The steps below are used for establishing a new base Metastock
reference file and importing historical Excel data into it.
CREATING THE NEW FILE
Step 1
Create Excel data file. Date format is not important.
Step 2
Establish a new folder for these files
Step 3
Launch the Downloader.
Select NEW then SECURITY
Step 4
Use the BROWSE button to find the folder you wish to store the new security in. Do not mix
these up with your other stock data files. Give the security a name and a symbol. Make
sure the FIRST DATE is the same as the first date in your Excel data file.
Click CREATE. Then click CANCEL to exit this part of the program.
This now creates a blank data file. You can now add the Excel data to this file
TRANSFERRING DATA FROM THE EXCEL FILE TO THE NEW DATA FILE.
Step 5
Select FILE then OPEN. Use the standard navigation dialog to locate the folder the new
security file has been stored in. The click the OPEN button.
Step 6
The screen blow comes up. It is a blank data file. It has no date or data in the screen
display.
Leave this screen open and switch back to the open Excel file containing the data you want
to convert into a Metastock file.
Step 7
Highlight all the data you want to transfer to the Metastock data file. Do NOT highlight
the date column, or the row with the headings. Metastock will fill in the date sequence
for you.
Step 8
Select COPY from the menu.
Step 9
Return to the Downloader with the open data file.
Click on the first cell under OPEN
Select EDIT and then PASTE.
This will insert all the new data. Metastock will automatically fill in the date sequence
for you.
Note: This may take some time, so be patient. The downloader screen will flicker, and then
all the data will appear.
Note: The first starting date will be the date you set when you created the blank file
even though the first date cell is blank when you start the paste process.
Step 10
To save the new data file just click the X close button at the top of the dialog box. You
will be prompted the save the data.
OPENING AND WORKING WITH THE NEW FILE
To open the new file simply use your normal procedures. Just make sure that you navigate
to the new folder where the new security files you created have been stored. Indicators
can be constructed and applied to the new data in the same way as you would with any
chart.
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