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Alex: The slope is dependant upon scale. To quote Bill Eckhardt in the
"New Market Wizards", ". . . it would become abundantly clear that the slope
value depends directly on the choice of units and scales for the time and
price axes." Thus a change in these values could result in different slopes
(and angles) between any two points.
Regards, Jack
----- Original Message -----
From: "Alex Matulich" <alex@xxxxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Wednesday, December 10, 2003 1:11 PM
Subject: Re: TL Angle function
> Michael:
> >I charted a stock and determined the angle of a trendline. Then I
> >multiplied by 10 the stock data, and the same trendline --that is,
> >connecting the same two high bars--produces a different angle.
> >
> >What does this say about trendlines?
>
> It says only that the angle isn't as significant as the slope. The
> slope between two points will be the same no matter how your chart is
> displayed (but if you multiply all your data by 10, the slope will be
> multiplied by 10 also).
>
> -Alex
>
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