Just another distraction from making consistent profit from trading. The "establishment" strikes again.
True. The "bar" is completely irrelevant. All that matters is the price flow. How one displays it has nothing to do with that flow. The candles that so many people make so much of, for example, exist only in the time interval which is chosen to display them. Thus a parabolic move in one time interval becomes a "gravestone doji" in another.
Lamont C Wrote: True. The "bar" is completely irrelevant. All that matters is the price flow. How one displays it has nothing to do with that flow. *********************************************** The idea here is to catch a up (down) move as it begins. When looking at a 5 minute chart for example, haven't we all waited for a white candle before going long. If that candle has gone to 60% of the upward move (I'm just going to assume were looking at a sideways market) then it's too late to safely enter. I suppose one could use 3 minute bars for a earlier confirmation, but I was wondering about rolling bars here. Thanks, -Stephen
Lamont C Of course we don't have to talk about candles. Colored-coded bars are fine to display price flow. -Stephen
It would boil down to looking at a tick chart, or the lowest time interval, with the last 5 (or whatever roll time you wanted) being grouped/bunched together as one bar. This would distort the moving averages and any other indicators i.e. how to calculate the moving average for the last (most immediate) data set? Also won't be able to see any price distortions immediately, i.e. would have to wait for roll time to complete.
1000 We don't understand each other. (Or I just don't understand what you're saying.) The idea is to see valid 5 minute (or whatever time period) bars updated on the minute. Tick charts don't come up here. Moving averages should not skew. -Stephen
If you had real time streaming data, with a 5minute interval, it would automatically update on a tick basis e.g. E-signal, or Bloomberg.
Stephen wrote: Moving averages should not skew. *************************** That is, if one is using a 4 period simple on 5 minute bars the moving average will be invalid at the beginning of the trading day. I guess after 20 minutes after the open the average should be fine. (?) -Stephen
Yes I know. But a 5 minute bar chart is only *totally* valid after 5 minutes. 9:35 9:40 9:45 etc. We know this. I think I'm having difficulty explaning myself in this idea. -Stephen