If we can predict the weekly high, low and close, we can make our trading system more accurate.
I also use the NNET R package to do the same calculations for the weekly candle high, low and close.
By comparing the two different predictions, we can have a fair idea of how the market will react during the week.
Important question that comes to mind is why focus on the weekly candle?
Weekly candle is not affected by the news releases as compared to the daily and the 4 hourly candles.
Of course if there is a big breaking news event, weekly candle will respond to that.
But most of the time, we can assume little reaction by weekly candle to economic news releases.
This property of the weekly candle gives us the chance to predict it.
Always keep in mind, predictions can never be 100% accurate.