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Hello Alex,
What exactly does the Camarilla Equation produce,
tomorrows close or ??
best regards
foolsgold
AM> Isaac Plucki wrote (concerning the Camarilla Equation):
>>Here is the code:
>>http://www.wealth-lab.com/cgi-bin/WealthLab.DLL/topic?id=6944&start=20
AM> Thanks. Except it's wrong. It's an approximation, as it says in
AM> the comments.
AM> First of all, it uses only High, Low, and Close, but the actual
AM> equation also uses the Open. Second, it's missing the adjustments
AM> that take into account the relative positions of open and close.
AM> This won't matter unless you have a bar having a range that's a
AM> significant percentage of the price. Third, even at values of open
AM> and close where the adjustments are zero, the WL version still isn't
AM> correct except at the L1 level, and the approximation gets worse for
AM> higher levels; at L4 it's off by as much as 1% of the price, which
AM> is significant (in the ES market, 1% is about 10 points, or $500).
AM> What I came up with is something that matches the results of
AM> the calculator at http://www.surefirething.com exactly to 6
AM> decimal places. I can't say I agree with it fully either, as the
AM> adjustments from the open and close aren't symmetric; they're biased
AM> in one direction.
AM> -Alex
best regards
foolsgold
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