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Hi Ara,
FWIW, here is my take on it, using ExpandFirst to
expand weekly bars -
1. We will know the weekly open on Monday morning,
so signals generated by weekly open will be valid on Monday.
2. We will not know the weekly high/low until
Friday's close, but I think signals generated by weekly high/low should be valid
on the day they occur, since even though price may go still higher or lower
during the following days, they have already gone high/low enough to fire a
signal.
3. We can't know weekly close until Friday
night, so signals generated by close on Mon-Thurs are not valid, since as you
mentioned, they could be erased by the end of the week. Wouldn't this
be analogous to initial signals generated when the Zigzag first
reverses, which most people would not take because it might be erased the next
day? So if you are actually using weekly close as a condition for taking trades,
it seems to me you would need to wait until Friday to get a reliable
signal.
I hope I am understanding your question
correctly...
Steve
----- Original Message -----
Sent: Sunday, April 30, 2006 4:07
PM
Subject: [amibroker] TimeFrames
I did some EOD backtesting where I used CCI and
MACD on the daily time frame AND longer time frames using TimeFrame Set. Using
longer time frames provide longer term trends, while daily time frame provides
precise timing.
I understand that when using
TimeFrameExpand(Array,InWeekly,ExpandFirst), we
are assuming that we know the closing price of Friday on Monday.
Issue:
If Monday's price triggers a trade, is it not
legitimate to use that signal on Monday??? Of course the signal may
dissapear anytime between Tuesday and Friday ... but Monday's signal still
seems legitimate, as long as we stay on the daily time frame.
Question:
Does this make sense???
Previous postings highlighted that
"ExpandFirst" looks into the future, which is of course true. In my view
that does not seem pertinent in this situation.
Appreciate any feedback
Ara
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