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Exactly it didn't work quite right that's why I came up with the code I posted
I'll send it again if requested. I also have an indicator that draws the O,H,L,C
bars of a compressed chart. This eliminates the need for Data 2 which only works
on one chart and can't be used for scans. The function I posted seems to let me
write multiple time frame indicators.
____________________Reply Separator____________________
Subject: RE: EL Data Compression
Author: Gary Fritz
Date: 8/6/98 12:53 PM
"Neil Harrington" <njh@xxxxxxxxx>
> The easiest thing to do and with virtually identical results is to
> just deal with daily data. If you are interested in a 9 week moving
> average, then use avg(close, 45), since a week is 5 trading days.
No, that won't work quite right. When you average a week by
averaging all its days, you use (C1+C2+C3+C4+C5)/5. But
when you "average" a week by using only the weekly close,
then you're using C5. The two values are very seldom the same.
Granted, the differences will usually be small, and it might be good
enough for your needs. But sometimes there are significant
differences. Try putting daily on Data1, weekly on Data2, and
plotting:
XAverage(Close,45) of Data1
XAverage(Close,9) of Data2
and you will see the differences.
Gary
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