Equal weighted index

A custom indicator created by TrendSpider Team on TrendSpider. You can import this custom indicator into your TrendSpider account. Don't have TrendSpider? Create an account first, then import the custom indicator.

This is a lower indicator where you can define which symbols to use (in the indicator's parameters box). This indicator computes value of a portfolio consisting of 1 share of each of he symbols listed. It will with for up to 54 symbols, on any time frames.

Source code

This indicator had been implemented by TrendSpider Team in JavaScript on TrendSpider. Check out the developer documentation to learn more about JS on TrendSpider.

describe_indicator('Equal weighted index', 'lower');

//	type your symbols here
const SYMBOLS = input.text("Symbols", "AAPL,AMGN,AMZN,AXP,BA,CAT,CRM,CSCO,CVX,DIS,GS,HD,HON,IBM,JNJ,JPM,KO,MCD,MMM,MRK,MSFT,NKE,NVDA,PG,SHW,TRV,UNH,V,VZ,WMT", { hide_in_legend: true }).
	split(',').
	map(value => value.trim());

//	do not increase these 2 numbers, it won't work
const BATCH_SIZE_SYMBOLS = 9;
const MAX_HISTORY_CALLS = 6;

const totalSymbols = SYMBOLS.length;
assert(SYMBOLS.length < BATCH_SIZE_SYMBOLS * MAX_HISTORY_CALLS, `Too many symbols requested`);

const getSymbolInputs = batchIndex => SYMBOLS.slice(batchIndex * BATCH_SIZE_SYMBOLS, batchIndex * BATCH_SIZE_SYMBOLS + BATCH_SIZE_SYMBOLS);

const fetchBatchData = async symbols => {
	const symbolString = symbols.join(' + ');
	const data = await request.history(`=${symbolString}`, current.resolution);
	assert(!data.error, `Error fetching data: ${data.error}`);
	
	return interpolate_sparse_series(land_points_onto_series(data.time, data.close, time), 'constant');
};

const numberOfBatches = Math.ceil(totalSymbols / BATCH_SIZE_SYMBOLS);
const batchesData = [];

for (let batchIndex = 0; batchIndex < numberOfBatches; batchIndex += 1) {
	const symbols = getSymbolInputs(batchIndex);
	const batchData = await fetchBatchData(symbols);
	batchesData.push(batchData);
}

const indexValues = close.map((dummy, candleIndex) => {
	const allValueAtThatIndex = batchesData.reduce((acc, partialSeries) => acc + partialSeries[candleIndex], 0);
	return allValueAtThatIndex;
});

paint(indexValues, { color: 'grey' });