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How about if you are computing slope in a system or indicator and
using price or some value perhaps from an indicator. All you have
there is two values or more and bars. Each bar is simply a unit. So
you have rise over run. Or sometimes drop over run. No chart scaling
to it and time is always the same unit.
Best regards,
Jimmy Snowden
mailto:jhsnowden@xxxxxxx
Wednesday, December 10, 2003, 3:49:17 PM, you wrote:
jz> Alex: The slope is dependant upon scale. To quote Bill Eckhardt in the
jz> "New Market Wizards", ". . . it would become abundantly clear that the slope
jz> value depends directly on the choice of units and scales for the time and
jz> price axes." Thus a change in these values could result in different slopes
jz> (and angles) between any two points.
jz> Regards, Jack
jz> ----- Original Message -----
jz> From: "Alex Matulich" <alex@xxxxxxxxxxxxxx>
jz> To: <omega-list@xxxxxxxxxx>
jz> Sent: Wednesday, December 10, 2003 1:11 PM
jz> Subject: Re: TL Angle function
>> Michael:
>> >I charted a stock and determined the angle of a trendline. Then I
>> >multiplied by 10 the stock data, and the same trendline --that is,
>> >connecting the same two high bars--produces a different angle.
>> >
>> >What does this say about trendlines?
>>
>> It says only that the angle isn't as significant as the slope. The
>> slope between two points will be the same no matter how your chart is
>> displayed (but if you multiply all your data by 10, the slope will be
>> multiplied by 10 also).
>>
>> -Alex
>>
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