|
PureBytes Links
Trading Reference Links
|
I have no idea if it makes more sense to use Wed or
Fri close, etc., but I have read that the Friday close is the most significant
close of the week. Can't prove it and doubt if the author can, but it is
certainly when market makers, etc. square up their books, which might be
significant in terms of zeroing in on value.
Bill
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=Roberts@xxxxxxxxxxxxxxxxxxx
href="mailto:Roberts@xxxxxxxxxxxxxxxxxxx";>Simon Roberts
To: <A title=metastock@xxxxxxxxxxxxx
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx
Sent: Tuesday, August 21, 2001 4:44
AM
Subject: Re: Weekly/Monthly data
Sean,Interesting point. This reminds me of the
arguments for and against plottinga moving average where we commonly do so
now. If considered logically, andfrom the mathematical viewpoint of
what the average represents, then theaverage should really be plotted at
the point on the chart which representsthe mid point of the average, and
not the last point, as common practicetoday, and since the beginning of
charting.So for a 21 day simple MA you would plot it at the middle
pont of theaverage, that is today minus 11 days.It of course raises
more interresting questions as to where to plot weightedaverages, or
exponentials. Presumably at the point representing the centreof gravity of
the data, not the mid point. Not very mainstream, and notmuch
help.So for weekly data, a more representative figure might be the
close onWednesday, or even an average of the weekly closes. However,
usually aweekly figure is used where less information is needed, not more,
hence theclose of the week.Simon-----Original
Message-----From: Sean Taylor <<A
href="mailto:cloudnine@xxxxxxxxxxxx";>cloudnine@xxxxxxxxxxxx>To:
Metastock List <<A
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx>Date:
21 August 2001 01:35Subject: Weekly/Monthly data>Is anybody
out there using weekly (or even monthly data)?>>It occurred to
me that if using weekly data for a system, is it truely a>reflection of
the weeks activity to go off the weeks close? Might it be>better
to perform some sort of average on the weeks data to better reflect>the
weeks activity? i.e. the average close for the week.>Metastock
takes the Friday close and uses this for weekly data.>>I raise
this because I've come up with a system that works well on the>Russell
2000 weekly but not daily.>>It just seems that the data I'm
basing the test off could vary as easily as>an individual
day.>>Thoughts?>>Thanks,>Sean>>
|