OK, folks, another “Tim thought of this when he was swimming” feature, and I think you’re going to love it. I’ve never seen anything like it anywhere else, and for now everyone can access it (in a little while, it’ll just be premium members). It’s called the Transformer feature.
The Transformer in SlopeCharts is a unique way to apply a formula to every single symbol you enter. This can be a tremendous time-saver if you want to have a customized perspective into any symbols you enter, particularly those within a watch list, since it is vastly more efficient to have the formula automatically applied as opposed to altering every symbol you want to see.
A very simple example would be if you wanted to view a series of assets proportionate to the Federal Reserve’s M2 money supply. In other words, you want to see every symbol divided by the M2 value. This new perspective might lead you to some important new insights.
To create this transformation formula, you would choose the Settings menu item from Transformer in the SlopeCharts Tools menu.
A dialog box is presented in which you can enter a formula. You can enter any kind of formula you like, as long as the format is valid. You can use any of these characters to construct a formula:
- Any equity or index symbol which is denoted by the word SYMBOL which is the placeholder for any given symbol that will be used within the formula
- Any basic arithmetic operators (+, -, *, /)
- Real numbers (5, 12, 50, etc.)
- Other legitimate symbols
Returning to the “divide everything by M2” example, you would simple enter this:
This is the simplest transformation possible. There is the symbol itself divided by another symbol (in this case FR:M2 which represents the M2 money supply). After you click the Save button, you name the transformation formula:
Any formulas you create will be preserved in your account and are available by clicking the Transformations tab in the same dialog box. This tab presents to you all the formulas you have created, if any, and lets you Load, Rename, or Delete any of them.
Any formulae you create are accessible from the same Transformer menu and will have a star icon next to it. If you choose to use one, just click on it, and a checkmark will replace the star of the formula being used. This will continue to be applied until you choose Clear Transformation. You could, for example, go through an entire watchlist and see every single symbol “transformed” by the formula you entered.
Thus, given the choice above, entering the symbol /GC would take the continuous contract of the gold futures and divide it by the M2 money supply, providing the chart shown below.