Basic Closing Data

Posted By black Saturday, December 25, 2010
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black
 Posted Saturday, December 25, 2010
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Most of the time we base our Strategies and Indicators on the closing price of the period. Once in awhile we base our calculations on the opening price. A few Traders might base theirs on the High or the Low.

The other standards that people base their calculations on are Median, Typical and Weighted.

Median = (High + Low) / 2.
Typical = (High + Low + Close) / 3.
Weighted = (High + Low + Close + Close) / 4.

Why not give names to, and use the following?

(Open + High + Low + Close) / 4.
(Open + Close) / 2.

These other two can be powerful at certain times.

Smile
Saturday, December 25, 2010 by black
eMoe
 Posted Monday, December 27, 2010
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Hi, Black!

Good idea! Let's name them:

(Open+Close)/2 - movement price
(Open+Close+High+Low)/4 - absolute price


Best regards!
black
 Posted Monday, December 27, 2010
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eMoe (12/27/2010)
Hi, Black!

Good idea! Let's name them:

(Open+Close)/2 - movement price
(Open+Close+High+Low)/4 - absolute price


Hi eMoe.

That sounds good to me. Movement and Absolute.

I wonder why these are not Forex standards. Or are they somewhere? They are both at least as good as Median at times. And way better than Typical or Weighted at other times. Maybe ActForex could be a "first company" to add them to their standard programming.

Smile
rezist
 Posted Tuesday, December 28, 2010
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Hi guys

I think that's interesting, I've never thought about such prices to use, but they look really reasonable.

If I have free time I'll try to compare indicators based on this prices with common prices we usually use, may be there'll be some interesting results

Or maybe someone have already compared?

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