How To Create A WatchList Price Index
You can create an unweighted price index for any WatchList in TC2000.The index is calculated by assuming an an equivalent dollar amount is invested in each of the WatchList components totaling $100.00. The index then calculates performance based on the displayed chart history. As you change time frames and display more or less chart history you will notice that the index value always starts at 100.
1. Click on the Add indicator button
Alternately, click the forward slash (/) key on the keyboard to open the plot library and proceed to step 2.
2. Search for WatchList Index and click to add to chart.
Use the Search field to type in any part of the words WatchList Index to find it.
3. This adds a WatchList Index to the chart
The WatchList on which the index is based is set to whatever list you have chosen as your system default. Click Here to learn more about setting the default WatchList.
4. Click the Name of the indicator in the legend of the index pane and choose Edit.
5. Select the WatchList you want to use for the Index
Click the WatchList option in the Edit window to open the WatchList selector
Type part of the name of the WatchList you want to use (or simply scroll in the window tabs to find it). Click the name to select the WatchList for the index. Click OK to apply.
Optional: Name the WatchList Index using the Label field.
6. The WatchList Index is now based on the WatchList you selected.
Notice the left side of the index begins at the 100 value and calculates the numerical change up or down from that value for every point on the chart.
Zoom out or in to show more history, but note the beginning value of the indicator is always 100 and the calculation is from that value.
Helpful example: You can think of it this way. If you bought an equal dollar amount of each stock in the WatchList at a total value of $100 at the beginning of your chart and the value at the end of the chart is $157.78 (see above), the index has improved by $57.78.