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Hi,
in order to decide which threshold to use to
validate an indicator, so far I have been eyeballing them on charts of a lengthy
period of time and drawn very empirical (to say the least) conclusions. I
am wondering if there is a better way to do this - there must be, I
assume...
What I would like to do, is find the
percentage of time that the indicator in question has been above (or below) a
certain value for a specific security, eg since Jan 00 the RSI of YYY, Inc. has
been above 70 only 3.5% of the time.
Even better, what is the value below which fall 95%
(or 90% etc.) of the observations of the indicator in the time frame
specified.
Any suggestions?
many thanks in advance
Daniele
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