intradaybill
Registered: Feb 2008
Posts: 2962 |
11-18-11 10:22 AM
One of the guys I worked with used them before. He did not report major problems. Most likely you need these for backtesting. It is a good idea to check the data for errors. Typical erros include an open or close outside of the bar range or spikes. Metastock downloader can check the data for reliability (www.equis.com). Even old versions like 8.0 or below. If you don't have that, the free demo version of Price Action Lab (www.priceactionlab.com) has a tool to check for data problems after you convert them to ascii text. I use that frequently. When I find problems I just use an editor and I correct them using some other data source. If I don't have another data source and I find an open higher than the bar high, for example, I set it equal to the high, etc. You have to fix those otherwise you may get severe distortions in a backtest.
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