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How do I "account for the bars on daily charts when Candlestick Charts are
used" for which mutual funds with which data source using which charting
program, Bill?
Perhaps you could post a gif?
[My data provider's values for OHLC are identical irrespective of load.]
Bob
At 07:26 AM 9/9/98 -0400, you wrote:
>Bob,
>
>I am aware of that. My question to you is, nevertheless, how do you
account for
>the bars on daily charts when Candlestick Charts are used? Do you know??
I am
>curious and since you obviously know much if not all about Candles I
thought you
>could explain it.
>
>Bob Jagow wrote:
>
>> He was specifically speaking of weekly candle charts, Bill.
>> ' I accidently chose the candlestick option on a weekly mutual fund chart
>> and it produced candlesticks - gee whiz!
>> ... FastRUBE recommends using candlesticks on weekly and monthly fund
>> charts as an integral part of it's fund selection process''
>>
>> Bob
>>
>> At 04:24 PM 9/8/98 -0400, you wrote:
>> >You are right of course, Bob. I use Arms Equivolume and I was thinking of
>> Candle
>> >Volume in which width, I believe, represents volume. As to the high and
>> low it is
>> >the high and low for the week I suppose on a weekly chart, but how do you
>> explain
>> >a high and low on daily charts with Candles? I don't use them and I am
>> ignorant
>> >on the subject. Sorry if the misinformation got to the lurkers.
>> >
>> >Bob Jagow wrote:
>> >
>> >> Your post may be hazzardous to lurkers, Bill, because both of your
>> >> statements are of course completely wrong ;)
>> >> Of course there's no volume, but what's vol to do with candles?
>> >> "weekly charts will show a bar with high and low" unless the price
didn't
>> >> change all week.
>> >>
>> >> Bob
>> >>
>> >> At 08:26 AM 9/8/98 -0400, you wrote:
>> >> >Mutual funds, of course, do not have volume reported. I don't know
>> what the
>> >> >explanation is but I'm sure it can't be legitimately employed in
analysis.
>> >> How
>> >> >can you lend credence to something that doesn't exist. I do know that
>> weekly
>> >> >charts will show a bar with high and low. This is due to the 3%
bid/asked
>> >> load
>> >> >and of course means nothing. I don't know where the width of the
candle
>> >> comes
>> >> >from but I do know it is worthless.
>> >> >
>> >> >Tim Gadd wrote:
>> >> >
>> >> >> Maybe this will be obvious to everyone else, but up until this
weekend,
>> >> >> any information that I have read regarding mutual fund investing and
>> >> >> trading states/implies that candlesticks are not a charting option
>> >> >> available for mutual fund analysis. Then this weekend, I accidently
>> >> >> chose the candlestick option on a weekly mutual fund chart and it
>> >> >> produced candlesticks - gee whiz! And then one of the recent posts
(by
>> >> >> one of the subscribers playing with regulation-size balls - I forget
>> >> >> who) professing the overwhelming power of candlestick charting got
me a
>> >> >> thinkin'. Can/should I use 'em?
>> >> >>
>> >> >> Later the same day, I just happened to run across some information on
>> >> >> the FastRUBE trading software that augments Investor's FastTrack.
>> >> >> FastRUBE recommends using candlesticks on weekly and monthly fund
charts
>> >> >> as an integral part of it's fund selection process - huh? I guess it
>> >> >> makes sense, since there are open (actually, the close for the
first day
>> >> >> of the week / month / period), high, low and close (the actual
weekly /
>> >> >> monthly / period close) values available.
>> >> >>
>> >> >> But are the candle patterns interpretable in the classic sense? I
have
>> >> >> noticed that there are what seems to be an inordinate number of
gaps, no
>> >> >> doubt because of the use of the first-day's close as the open price.
>> >> >> Comments appreciated from the candle aficionados.
>> >> >>
>> >> >> I'm gonna try to figure this FastRUBE thang out and try to set up
some
>> >> >> similar systems myself - while I'm learning how to use
candlesticks. Are
>> >> >> their any other mutual fund traders on the list that have set up a
>> >> >> FastRube-type fund ranking and selection system using MetaStock or
>> >> >> Window on Wall Street? Any guesses as to what the AccuTrack/Relative
>> >> >> Strength formula might be? After 4 years of being a bull market fund
>>
>> >> >> trading genius, I am only now tinkering with setting up and testing
>> >> >> automated trading systems.
>> >> >>
>> >> >> ______________________________________________________
>> >> >> Get Your Private, Free Email at http://www.hotmail.com
>> >> >
>> >
>
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