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Roy is correct. Hurst's work is based, in part, on centered moving averages.
These are 'real' moving averages, to the extent that they reflect, and are
plotted against, the mean of the price observations. The regular moving
averages that we all use are really 'real' moving averages that are advance
plotted against the most recent data point.
As a result Hurst channels look uncannily accurate, but end before the right
hand edge of the chart. I would not advise using them unless you have read
Hurst's book 'The profit magic of stock transaction timing' which discusses
ways of trying to predict the next turning point - the main focus of his
work, after all, is identifying periodic cycles which can then be used to
predict the next inflexion point.
Andrew
-----Original Message-----
From: equismetastock@xxxxxxxxxxxxxxx [mailto:equismetastock@xxxxxxxxxxxxxxx]
On Behalf Of Roy Larsen
Sent: Wednesday, December 14, 2005 12:18 AM
To: equismetastock@xxxxxxxxxxxxxxx
Subject: Re: [EquisMetaStock Group] Hurst Channel
Hi Cameron
My understanding of Hurst channels is that they're supposed to be centred
moving averages, and that makes a forward reference (or 4) essential. If
someone can use that to trade then good luck to them.
Regards
Roy
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