Basic Technical Analysis of Financial Markets: A Modern by Renato Di Lorenzo

By Renato Di Lorenzo

The current booklet avoids the myth recipes that abound in technical research and focuses as an alternative on those who are statistically right and will be understood through beginners in addition to preferred by means of execs. The defined protocols and strategies will turn out useful in studying marketplace habit and supporting in buying and selling judgements.

The algorithms utilized in the technical research of economic markets have replaced past reputation. This ebook deals a extra effective technical research – one who isn't pleased with protocols that simply appear to be nice, yet which calls for that they're certainly effective, verifying this via simulations at the notebook, critical statistical counts, and so on.​

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Example text

It’s almost immediate to conclude by visual inspection (also the eye + brain system is a powerful filter) that there is an upward movement at the beginning, followed by a correction, then followed by a new ascent (this is the signal) and that superimposed on this movement there are hysterical oscillations of short duration (the noise). R. 1 The easiest way to remove the hysterical oscillations is to calculate at each point the average2 price of (for example) the nine previous bars and draw also the graph of these averages.

12 Ftse Mib. ProRealTime platform One may then take advantage of the selloffs in two ways: going immediately short at the perforation of the support line in a downtrend, or (or also) waiting for the signs of the end of the selloff to go long. On the same graph many cuts can be found—and these are exactly the signals of a long range memory. 11, the selloff at the time of writing seems to be probably exhausted in C, exactly on the straight line passing through the maxima A and B. By knowing the existence of this line when the selloff started, it would have been reasonable to assume the hypothesis that in C there would have been a point of support and then also assume that the movement could have run out there, even momentarily; this would have legitimated the move of taking a short position.

14 Type of Price On the different platforms normally one can also vary the type of price from which the graph is done; this is because it is not necessarily true that the closing price be always the most representative of the asset behavior. 32 Tods. 33 McDonald’s. 34 McDonald’s. ProRealTime platform The choices that are often permitted, in addition to the obvious ones: O H L C are the following: (H + L)/2 31 32 1 Graphical Representation (H + L + C)/3 (H + L + 2 × C)/4 (O + H + L + C)/4 where as usual O, H, L, C stand for open, high, low and close.

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