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"! ! Prices should be normalised in order to be
more effective."
How to do this? You can pick one date as a
base, call it 100 and add daily ROC increments, or divide all subsequent prices
by the price on the base date. That works within its limitations, but what
if you want to go further back than the base date, and what about stocks added
after the base date? Any solutions?
HHP
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<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
DIMITRIS
TSOKAKIS
To: <A
href=""
title=amibroker@xxxxxxxxxxxxxxx>amibroker@xxxxxxxxxxxxxxx
Sent: 26 December, 2003 11:34 PM
Subject: [amibroker] Re: A Composite
problem with High and Lows
Herman,I have never tried, till now, the "market
candles".My first objection is on the method.When we create the
composite ~C, we add, in equal weights, a C1=1$ to another C2=45$.If
the next day the first stock makes an excellent +25%, it will be 1.25$ and
its effect will disappear, since it will add a very small 0.0025 to the
total sum of Closes. What is important is the changes of high C stocks and
it does not reflect a reliable picture of the market. A +10% in one
single stock of 50$ will add 5 units, which is equivalent to a +50% in 10
stocks of 1$ !!Prices should be normalised in order to be more
effective.The next objection is on the logic.If you believe some
candles formations are indicative for the next bar behavior, then it would
be better to create the formation composite.I always include in the
daily runs the "~morningstar" together with the "~eveningstar" N100
tickers. It is not the first rate decision tool but, whenever exceeds 10%
it becomes a factor you can not overcome easily [A "~morningstar"=13% is
not a reason to sell, an "~eveningstar"=12% is not a warning to buy any
moving object...]The third objection refers to the market : N100 is quite
fast, sometimes nervous. A candlestick formation nedds two-three bars and
you should wait for the full formation, else the pattern does not
exist. The massive agreement of the market will come [for a 3-day
pattern] in 3-4 days, too late for the N100 behavior.My research is
restricted mainly in the morning/evening star composites, I have not tried
other patterns . The candlestick patterns results are very poor when
compared to the heavy-duty machine guns [MeanRSI, MeanStochD, MeanCMO,
MACDbull etc] of the N100 market.This is my experience, if there is
another magic pattern with massive behavior I ignore, please drop a note
to check it out.Dimitris Tsokakis--- In amibroker@xxxxxxxxxxxxxxx,
"Herman vandenBergen" <psytek@xxxx> wrote:> Perhaps
HHP...> > But I would expect that if we were adding real time
data, i.e. many> points/day. My formula doesn't know the difference
between any of the OHLC> price arrays. The Open and Close appear to
keep their significance while the> High and Low lose it. For some
reason the H&L just averages out into average> volatility and,
at least in composites.> > I would like to use composites for
short term price prediction, like price> movements over the next
day or so using Candle stick patterns. This doesn't> seem to work -
has anybody tried it?> > herman>
-----Original Message-----> From: harveyhp
[mailto:harveyhp@xxxx]> Sent: December 27, 2003 2:34
AM> To: amibroker@xxxxxxxxxxxxxxx>
Subject: Re: [amibroker] A Composite problem with High and Lows>
> > Herman,> Isn't this because
the NDX and QQQ indices show the highest and lowest> momentary
values actually reached during the day, whereas the composites are>
necessarily calculated as if all the components reached their highs and
lows> simultaneously?> HHP>
=============> ----- Original Message
-----> From: Herman
vandenBergen> To:
AmiBroker> Sent: 26 December, 2003 2:06
AM> Subject: [amibroker] A Composite problem
with High and Lows> > > Why do
the Highs and Lows (Candle Shadows) in my composites become>
useless?> > The NDX and QQQ Candle plots
have normal looking shadows... nice to work> with.>
> However the Highs and Lows in my Composites
have lost all meaningful> properties...Most shadows in the
composite extend up and down to about the> same extend while this
is not the case with the NDX and QQQ.> >
I want to perform Candle Analysis on my Composites, how can I
create> composites with more meaningfull Shadows, like they occur
in the QQQ and> NDX?> >
herman> [Code used to create the composite is
at the bottom of this email]> > > >
>
Buy=Sell=Short=Cover=0;>
AddToComposite(1,"~N100comp","V");>
AddToComposite(O,"~N100comp","O");>
AddToComposite(H,"~N100comp","H");>
AddToComposite(L,"~N100comp","L");>
AddToComposite(C,"~N100comp","C");> >
SetForeign("~N100comp");>
PlotOHLC(O/V,H/V,L/V,C/V,"N100comp",1,64);> > > >
> Send BUG REPORTS to
bugs@xxxx> Send SUGGESTIONS to
suggest@xxxx>
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