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I wouldn't use the formula approach because the slope is dependent on the
price scale. Futures with a high per unit value (such as coacoa) would
generally have a high slope and futures with low per unit price (such as
sugar) would have a lower slope. Further the slope can easily be changed by
changing the unit of pricing - for example if you priced grains in cents the
slope will be completely different than if you denominate the price in
dollars.
-----Original Message-----
From: Donald Thompson <detomps@xxxxxxxxxxxxx>
To: Peter_Gibson@xxxxxxxxxxxxxx <Peter_Gibson@xxxxxxxxxxxxxx>
Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: May 14, 1998 11:20 AM
Subject: Re: help w/ omega code
>Peter Gibson wrote:
>>
>> I'm not sure if this can be coded either but I'm also not sure that the
>> concept makes sense. I think Schwager made this point in one of the
Market
>> Masters books that angles on charts don't mean much because the angle can
be
>> changed depending on the scaling of the chart.
>>
>
>
>Peter,
>
>Are you sure? It would seem to me the calculation as going to use the
>x- axis increment of what ever bar you are using.. and the y axis is
>going to be the difference in price.
>
>Slope = Y2-Y1
> ____
> X2-X1
>
>respectfully,
>
>don
>
>
>
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