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5/9 Indicators
Posted: Tue Oct 07, 2008 12:26 pm
by Trader ???
I inserted 5/9s on my charts (always did it manually before) and I see on somedays if I draw them by hand they don't match up with the auto 5/9 indicators. Any take on this? Thanks
gk
Re: 5/9 Indicators
Posted: Tue Oct 07, 2008 12:29 pm
by pldot
This is likely due to one of several issues…..
--make sure you are accounting for the Jaws and closed 5/9s
--make sure you are looking at the same data for hand-drawn and computer charts , especially the possible difference between 24 hour data and day session data.
--On TradeStation the fattest bar thickness setting visually distorts the actual high and low of the bar and makes it look as if the high is higher and the low is lower than it actually is. The numbers and the calculations will be accurate but the visual effect is sometimes a little off when applying a trendline by hand.
Thise items probably cover your question…. otherwise I would need a specific example to see what might be going on.