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One can envision a zillion permutations. The
question is which, if any, have any effect. Once an effect is seen, then
one can worry about the right formulation.
Bill
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<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Lionel
Issen
To: <A title=metastock@xxxxxxxxxxxxx
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx
Sent: Wednesday, August 22, 2001 11:10
AM
Subject: Re: Weekly/Monthly data
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 -----
<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>>
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