|
PureBytes Links
Trading Reference Links
|
Sorry if this appears twice.
I want to go into this a bit further I hope that there will be a little
group discussion on it. As I said I'm not looking at intra-day relationships
such as the pivot point etc. But rather inter-day relationships. Much of the
time we get large daily ranges alternating with small daily ranges
especially in congestion.
I wrote a simple little formula that divides today's range by yesterdays.
Omega code follows.
(TrueHigh-TrueLow)/Iff((TrueHigh-TrueLow)[1]>0,(TrueHigh-TrueLow)[1],1)
I put it on Sep. 99 Wheat and although I know that some of this may be
coincidence; each day going back 18 days either landed close to an even
fraction such as 3/4 or 6/4 etc. except on certain days. On these days the
ratio was either exactly or very close to a golden ratio (.62). This is the
list going back starting at Friday and going back 18 days (where I quit
looking). Yes, I know that the grains trade in 1/4 points but does that
explain this exactly, there are days that are .62 or .33 etc. Here is the
list.
3/4, 6/4, Ratio(.62), 3/4, 5/4, 6/4, 3/4,10/4, 2/4, 5/4, Ratio(.62), 4/4,
6/4, 5/4, 8/4, 2/4, 5/4, and lastly another Ratio(.62)
Any thoughts or observations?
Brent
>***** Brent I'm sorry that I don't know the answer to that question.
>A long time ago there was a lengthy discussion about pivot points
>and many different modes of calculation. The answer to the question you
>posed would be dependent on which formula was used. And,
>how does one know which formula to use on any given day?
>
>Chas
>>
>
>
|