Registered User
Joined: 12/21/2010
Posts: 21
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On 30 min chart, I use a 65 period SMA labeled 5 DMA. I created a condition from chart for
Moving up .01%, Time Frame 30 Minute, Period 1.
Then I created the same thing but with Period 7 they behave identically when in columns.
Question is: Is that test looking for the % change in the most recent 30 minute period or if not, what is it testing for? Perhaps the change from 65 period before to the current value?
Thanks for clarification.
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Administration
Joined: 9/30/2004
Posts: 9,187
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The first condition is looking for the 5 DMA line to be moving up (at least .01%) from the previous bar.
The second condition is looking for the 5 DMA line to be moving up (at least .01%) from 7 bars ago.
In the Nasdaq 100 index I found 88 stocks passing both conditions. and two, LIFE and ORCL that are only passing the 7 period condition.
The indicator is a 65 period average so it's not unusual that it's moving the same direction over the last 7 bars.
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