UseSymbol ([symbol])

This function brings other symbols into scope allowing inter symbol/market analysis. The use of this function allows the answering of questions such as "if the DOW is trending up and INTC is trending up, then buy". Before you can use any symbol you have to specify it in the system object.

In most cases you do not need to use this function, since you can specify the symbol direct. The exception to this is when the symbol contains invalid characters. For example, symbol ^DJI can not be used direct, so you have to use UseSymbol.

Examples:

 my $intc=UseSymbol('INTC');

Once a symbol has been brought into the current scope, indicators can be applied using -> For example:

 $intc->RSI(9);
 $intc->OBV;
 #The symbol INTC can be used direct, so you could do:
 INTC->RSI(9); 
 INTC->OBV;

However, look at this example:

 $intc->EMA(Close,9);

At first glance, this would create an 9 bar EMA of the close column for INTC. It would not. The function Close returns the Close column for the current symbol, not the Close of INTC. When using price columns in this manor you MUST specify the symbol. For example:

 $intc->EMA($intc->Close,9);
 $intc->Lowest($intc->Low,12);

Example:

 my $intc=UseSymbol('INTC');
 if (Above($intc->EMA($intc->Close,9),$intc->EMA($intc->Close,17))) {
   #INTC is trending up
   Markbar('red');
 };

Related functions: