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Some years back I read that Wed close was more important than
Friday's close. Why not use a running 5 day O H L C?
Lionel Issen<A
href="mailto:lissen@xxxxxxxxxxxxxx";>lissen@xxxxxxxxxxxxxx
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
wavemechanic
To: <A title=metastock@xxxxxxxxxxxxx
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx
Sent: Wednesday, August 22, 2001 7:53
AM
Subject: Re: Weekly/Monthly data
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
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----- Original Message -----
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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>>
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