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These statistics give an amazing insight to probabilities of price movement. If i could ask for one more study (ive been trying for last 4hours to program this :-/). Referencing Homework 28.
If price opens above and below the previous days range, and enters yesterdays range what would be the percentage chance for a continuation to the VAH or VAL of yeserday
Well, price can't open above and below prev range . But I assume you mean, if price opens above prev range, and moves inside range, what are odds it moves to VAL? And if it opens below range, and moves inside, what are odds it moves to VAH?
In the bottom pane, it tells us we were studying 2904 days. Of those days, 622 opened above prev range (21.4%). Of those 622 days, 409 price moved back inside range (65.8%). Of those 409 days, 127 times it moved back to VAL (31.1%). So almost 1/3 of the time you can expect a continuation to VAL when we enter range after opening above.
Hi Chad,
Not specifically indicator related, but I was wondering if there ware any plans to try to increase the amount which a user can zoom out to see more prices. I also use prorealtime, and I can zoom out a long way to show a lot of prices very scrunched up which is lacking in IRT. It really helps me get an idea of price action to see prices scrunched together so much, and I really miss this functionality when looking at futures charts. Is there any way that this can be done, and if so, is there any way that the zoom out/zoom in feature can be done in a smooth more user controlled manner, because at the moment the zoom in/out function works in big preset blocks.
How are you zooming in/out. Should just be using the scrollwheel on mouse to do so (and probably are). But this simply changes the pixel width of each bar. And once it gets down to 1 pixels per bar, it can go no further. To get more data into the visible chart at that point, you'd need to change periodicity (change 1min to 5min, etc). So I suspect what the other program is doing.....once it gets down to 1 pixel per bar, it starts drawing 2 bars on top of each other on a single pixel, then 3, then 4, etc. Is that what it looks like? Would probably be a pretty significant piece of work for us to enable such a possibility but I'll do some thinking on this.