Huge Chart Discrepancy - page 2
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Attached shows the properties of my Trendline on Weekly. I assume i did it right?
Hello Fernando,
No i did not set to a future date. My anchor points are of past candlesticks.
Attached shows the properties of my Trendline on Weekly.
I assume i did it right?
Look at it this way.
Say your 2 anchor points are on the week's highs
Now the first high that you anchor to may have occurred on a Wednesday and the second on a Friday, but in both cases, they will be anchored to the Monday on the Daily chart.
Trendlines are only truly accurate for the time-frame that they are drawn on.
Look at it this way.
Say your 2 anchor points are on the week's highs
Now the first high that you anchor to may have occurred on a Wednesday and the second on a Friday, but in both cases, they will be anchored to the Monday on the Daily chart.
Trendlines are only truly accurate for the time-frame that they are drawn on.
Right, but that's an other point, and I don't think it could explain such difference, but on slight difference (except maybe if you fall on a big spike).
Also your point is not totally exact. The first day of week (date of a weekly candle) is always the Sunday. So if your daily chart has Sunday candle, it will be anchored to Sunday (not Monday), and if there is no Sunday, it will be anchored to previous day, so usually a Friday.
So the recommendation is to draw them on lowest timeframe.
In that case, have you checked your chart for "missing" days as previously explained?
Missing days as in the Weekend candlesticks? Mine show Monday to Fridays candles. 5 candles per week
Look at it this way.
Say your 2 anchor points are on the week's highs
Now the first high that you anchor to may have occurred on a Wednesday and the second on a Friday, but in both cases, they will be anchored to the Monday on the Daily chart.
Trendlines are only truly accurate for the time-frame that they are drawn on.
I went down to Daily timeframe and have checked. The anchor points are on the exact day of the week where Price was at that High. Not anchored on a Monday like you said
What I said for anchor point in future could also be for anchor point in past if you don't have enough data. Your first point is 2007.11.07, do you have D1 data from this date ?
Right, but that's an other point, and I don't think it could explain such difference, but on slight difference (except maybe if you fall on a big spike).
Also your point is not totally exact. The first day of week (date of a weekly candle) is always the Sunday. So if your daily chart has Sunday candle, it will be anchored to Sunday (not Monday), and if there is no Sunday, it will be anchored to previous day, so usually a Friday.
So the recommendation is to draw them on lowest timeframe.
Oops, yes you are right, the week starts on a Sunday. Sorry about that. But I do believe that the anchor points make a difference in the lower time-frames
I went down to Daily timeframe and have checked. The anchor points are on the exact day of the week where Price was at that High. Not anchored on a Monday like you said
Yes, I have already explained all that! Even if you have a Monday to Friday week, there could be missing days or even extra days (Sunday/Saturday) during the Daylight savings change-overs because US DST and EU DST do not occur at the same time.
Alain, Keith and myself have put forward various reasons for the discrepancies. Since you have claimed that the other reasons are not the case, put in the effort and verify the situation about the missing or extra days.
If your coding is up to par, you could as an exercise, code a short script to test for missing days or extra days, depending on the situation.