# Custom Indices/baskets Custom Indices/baskets is an indicator on [Vela](https://vela.luxalgo.com/chart), our next-generation charting platform, written in Pine Script®. Builds a synthetic index from up to ten symbols: rebased prices for buy-and-hold weight drift or compounded returns for a continuously rebalanced basket, weighted equally, manually or by liquidity, with optional currency conversion. A dashboard reports each constituent's weight, level and data status, and the chart symbol can be overlaid rebased the same way. For traders of themes rather than tickers. - Indicator in the LuxAlgo Library, by LuxAlgo, published Jun 8, 2026. - Access: free. - Concepts: [Custom Indices/baskets](https://www.luxalgo.com/library/concept/custom-indices-baskets/) (primary) - Open on Vela: https://vela.luxalgo.com/chart?pineScriptCodeId=rkuhk5ae0gp2wvk3d03zopcc - Page: https://www.luxalgo.com/library/indicator/custom-indices-baskets/ **Custom Indices/baskets** is the definitive clean builder for a [custom index or basket](https://www.luxalgo.com/library/concept/custom-indices-baskets/): up to ten constituents aggregated into one synthetic series. Rebased Prices lets weights drift like a buy-and-hold portfolio; Compounded Returns re-applies the weights every bar like a continuously rebalanced basket, with equal, manual or liquidity weighting and optional currency conversion. ## How to Trade the Custom Indices/baskets? - **Symbol against basket**: the comparison line treats the chart symbol exactly like the basket; crossings fire leading and lagging alerts. - **Constituent spread**: the member lines show whether a move is basket-wide or one ticker's story. - **Level crosses**: the alert level watches the synthetic scale; execution happens leg by leg at real quotes. ## Custom Indices/baskets Settings - **Construction** (default Rebased Prices): rebased weighted average, or compounded weighted returns. - **Base Value** (default 100): the level every series is rebased to. - **Weighting** (default Manual): Equal, per-symbol weights, or Liquidity by traded value. - **Liquidity Length** (default 50): lookback for the traded-value average. - **Basket Timeframe** (default chart): sampling timeframe; daily closes tame mismatched sessions. - **Currency Conversion** (default None): converts every leg to one currency first. - **Rebase Start** (default First Available Bar) and **Custom Start Date** (default 01 Jan 2024): where each series begins. - **Symbol 1** through **Symbol 10**, each with a weight (default 1): the constituents; empty slots are skipped. - **Chart Symbol Comparison** (default on): overlays the chart symbol, processed identically. - **Alert Level** (default 100, hidden by default): the cross-alert level. - **Show Dashboard** (default on): per-constituent weight, level and status. - Style inputs cover the line colors, constituent lines and the base gradient fill. ## Frequently Asked Questions ### When is a basket better than a ratio or spread chart? When the question is a group, not a relationship. [Ratio Spread Charts](https://www.luxalgo.com/library/indicator/ratio-spread-charts/) express one series against another, isolating relative performance; a basket averages many legs into one, isolating a theme rather than a ticker. ### Which construction should I pick? Rebased Prices behaves like buying the constituents once, so winners grow their own weight over time. Compounded Returns rebalances to the target weights every bar, tracking the theme with weights held steady. ### Why does the dashboard flag a constituent as Stale? Stale means the symbol's venue has not printed the current bar (common across mixed sessions), while Invalid marks symbols with no usable data. Daily-close sampling reduces the artifacts. ## Related indicators - [Line Break](https://www.luxalgo.com/library/indicator/line-break/) (Meta & Composition): markdown at https://www.luxalgo.com/library/indicator/line-break.md - [Renko Boxes](https://www.luxalgo.com/library/indicator/renko-boxes/) (Renko): markdown at https://www.luxalgo.com/library/indicator/renko-boxes.md - [Bitcoin Power Law](https://www.luxalgo.com/library/indicator/bitcoin-power-law/) (Chart Scales): markdown at https://www.luxalgo.com/library/indicator/bitcoin-power-law.md - [Alternative Bar Types](https://www.luxalgo.com/library/indicator/alternative-bar-types/) (Meta & Composition): markdown at https://www.luxalgo.com/library/indicator/alternative-bar-types.md - [EquiVolume](https://www.luxalgo.com/library/indicator/equivolume/) (Meta & Composition): markdown at https://www.luxalgo.com/library/indicator/equivolume.md - [Point & Figure](https://www.luxalgo.com/library/indicator/point-and-figure/) (Meta & Composition): markdown at https://www.luxalgo.com/library/indicator/point-and-figure.md - [Kagi](https://www.luxalgo.com/library/indicator/kagi/) (Meta & Composition): markdown at https://www.luxalgo.com/library/indicator/kagi.md - [Volume-adjusted Time](https://www.luxalgo.com/library/indicator/volume-adjusted-time/) (Meta & Composition): markdown at https://www.luxalgo.com/library/indicator/volume-adjusted-time.md --- Source: https://www.luxalgo.com/library/indicator/custom-indices-baskets/ (LuxAlgo Library). Free to use with attribution: https://www.luxalgo.com/library/license/