Analyzing charts for the latest moves on the market or even the unknown, seems to be a very complicated task for some. A good set of technical indicators can lead to at least, a better way to visualize the past, the present and a possible future.

On the daily chart above, we use for a example the fund XLY. We plot a chart of the fund itself, also plot the sum of each of the components of such of a fund, and the relative strengths. To all three of them, we plot a moving average of type and length of choice, that makes a lot of sense.

There is a main idea and a side plate on this. We are making a custom fund, that you can make with the collection of your portfolio holdings, being stock, etf's or the collection of both. So, we will also post the formula or thinkscript code, as we are using the ThinkOrSwim platform for this purpose and vizualization.

There is a lot more on the chart, but the main idea is to show you how you can plot a chart of fund, made of different stock, so you can build your own index or system of choice for your dedicated trading plan.

The formula is as follows, and you can declare it as a lower indicator if you want, but our preference:

plot fund = close("AMZN") + close("TSLA") + close("MCD") + close("NKE") + close("HD") + close("LOW") + close("SBUX") + close("TGT") + close("BKNG") + close("TJX");

Use any stock of choice or as explained above.
For educational purposes only, and not intended as a financial advice of any kind.