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David
> The ADX function in the MetaStock (7 and below) Explorer function
> gives whacky results too,
> Warmest Regards
> David Hunt
If the exploration is set to "Minimum" periods then the results will be way
off in Metastock. The nature of any exponential MA (EMA, Wilders etc.)
requires that a significant "lead-in" time be allowed for the explored
values to approximate the chart values. As a rule of thumb one should
multiply the longest EMA period by a factor of at least five to determine
the necessary periods setting for the exploration.
The simple reason for the apparent problem is that an exponential moving
average contains a portion of ALL previous data. Therefore it's quite
logical that EMA's with a different length of historical data will give
different results. Extending the periods in an MS exploration is one way of
minimising the problem. If a chart is based on 1000 records and an
exploration also uses 1000 records then the EMA values will be identical.
I'll discuss these and other aspects of EMA and Wilders in a reply to Gary's
note shortly.
Roy
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