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Registered User
Joined: 5/31/2006
Posts: 47
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Hi Trainers
I understand that TC uses rolling 5 day periods for weekly data and, I think, rolling 21 day periods for monthly data. Correct? My real question has to do with visual backtesting using the monthly data. For instance, if I see a pattern, say a 6 month ascending triangle on today 8-14-09. As I understand it, that pattern may look completly different next week on 8-20-09. But on 9-15-09, 21 trading days later, will that pattern visually look the same as it did origionally did on 8-14-09? I hope you get the jist of my question and can have enough info. to answer. This will have a huge impact on longer term traders that use pattern analysis. Thank you.
Mark
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The patterns made by rolling 5-Trading Day Bars (the Weekly Bars in TeleChart) will look the same during any multiple of 5-Trading Days later but can look much different when looked at 1, 2, 3 or 4 Trading Days later. The same is True of 21-Trading Day Bars (the Monthly Bars in TeleChart), except that they will look the same during any multiple of 21-Trading Days later.
-Bruce
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Registered User
Joined: 5/31/2006
Posts: 47
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That's what I thought Bruce. Thanks for verifying this. Thanks.
Mark
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You're welcome.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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