Market Sentiment Indicators(MSIs) allow you to filter for market conditions. During time periods that market condition is met the the Programmable Module it's attached to is activated, while during time periods that the market condition is not met, the Programmable Module is not activated.
The difference between an Editable Module and a Market Sentiment Indicator is that the MSI has a valid symbol(or Sector index) in the "Symbol" field while an Editable Module leaves the "Symbol" field blank.
All five of the Editable Modules can be used as Market Sentiment Indicators, with the exception of the Relative Strength Editable Module. The most common use of MSIs are probably combining a futures or sector index with the Moving Average Editable Module to obtain a filter for the direction of a sector or the market. MSIs can also be constructed with $TICK or $TRIN. (Realtick platforms use different symbols for $TICK and $TRIN, be sure to use the one that your RealTick platform uses. The examples shown use the symbols
$TICK-N)
The function of MSIs is best illustrated with an example. Say you want to view Strong Stocks, but only when the futures are trending up. You can accomplish this by constructing a Moving Average MSI with the futures symbol and then constructing PM4 to attach the MSI SPINC and the Base Module "Strong" as shown below. When scanning in realtime, the Strong symbols will be displayed only if the futures symbols /SPH1 has a 30 minute Moving average slope >
0.2
Program Trading MSIs
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