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I understand what I don't understand, but what I don't understand is...
How can a currency in any past bar be a benchmark for itself or anything at all!
Author, can some basic postulates of this theorem be voiced?
Very simply. A benchmark is, by definition, a value that must retain a unit of magnitude. NOT TO CHANGE over time. So we can take any bar, do some normalization there (1 USD = 1 arbitrary unit, for example, and all currencies through it), and then it's as simple as that. About the difficulties below.
There is no difference. You have simply divided the pair's rate by a constant.
What are you writing, colleague. Exactly, the pair rate is the ratio of two such "absolute" curves as I want to construct (and will construct tonight). And their appearance is not at all like that of a "pair" chart. In that sense you can't even count the correlations between the euro and the pound, for example. For everything depends on a third variable - the quote currency. Try to calculate the correlation between the euro and the dollar from EURUSD and GBPUSD on the one hand, and EURJPY and GBPJPY on the other hand, for clarification. On some time interval, of course. A day or two, for example.
But a correlation of "absolute" charts would give you information for your brain.
Very simply. A benchmark is, by definition, a quantity that must retain a unit of magnitude. NOT TO CHANGE over time. So we can take any bar, do some normalization there (1 USD = 1 arbitrary unit, for example, and all currencies through it), and then it's as simple as that. About the difficulties below.
I gave a link to a lecture and there was a theorem (36 minutes) that prices are nothing but the exchange rate and you can in principle multiply them all by a constant (inflationary growth) or divide them (deflation) - nothing will essentially change.
P.S. Provided there is no elementary arbitrage
The author seems to have fallen ill with the typical "ONLY ME!!!" of newcomers.)
I'm not a beginner at all. Making categorical conclusions without having any background information about me is not a sign of great intelligence.
That's the thing, you can't define a benchmark for a currency. You could equate it to gold, but it's already done... And what do you mean by a benchmark? In your example, the benchmark must not change, that is, remain unchanged over time ... In today's rapidly evolving world, the benchmark must constantly change ... Another question, what is the benchmark?
Can the benchmark for the euro be taken as the average of all pairs with the euro ???? Euro quid + Euro pound .... + euro yen / n.... we get the euro value (as if it is the world price compared to all currencies).
and use this average price as the basis for the chart.
Colleague, neither gold, nor oil, nor any commodity (including money: euros, pounds, yen, and others) cannot be a benchmark. For they do not have a constant value. Their values float. They change. Gold may go up in price/green, but are you attributing the whole change of the EUR/Aurum chart to the influence of the Euro only? You do realize that is nonsense, right? The benchmark must not have the right to change. By definition. It is easy to do, simply by choosing the benchmark of the currency itself on any arbitrary bar.
It's nothing, I've tried it. Nothing better than Semen Semenych's cluster indicator has worked for me in 3 years.
Did I understand your point correctly, colleague: "you couldn't do it" = "it's impossible"? What if I told you that I succeeded?
makes some sense if the system is closed loop.
Did I understand your point correctly, colleague: "you failed" = "it's impossible"? What if I told you that I succeeded?
I didn't say that, but... everything has already been stolen before us.
Did I understand your point correctly, colleague: "you failed" = "it's impossible"? What if I told you that I succeeded?
Show me the money!
Once again: the benchmark is defined as the value of the currency of interest in a bar in the past. And then you plot this currency against its value in that bar. Why is it closed or open? If the printing press is running and the currency is getting cheaper, you see that. That in a short time it is worth half the value of the reference unit in the bar, and then even less.