Trading the Markets the Point & Figure way : become a noiseless trader and achieve consistent success in markets by Prashant Shah
Author:Prashant Shah
Language: eng
Format: azw3, pdf
Publisher: Notion Press, Inc.
Published: 2019-07-11T16:00:00+00:00
Image 4.1.2: Moving average calculation
Image above shows the moving average plotted by connecting the closing prices of every column, that is high price of column of ‘X’ and low price of column of ‘O’. Rest of the things remain same, moving average of any parameter can be calculated in the same manner using this method.
With closing price method, it is not necessary that the mid-price of that column should be above moving average to qualify as a valid breakout. A column of ‘X’ going above the average line is a valid breakout and column of ‘O’ going below the moving average is valid downside breakout.
Below is the Nifty bank 0.50% × 3 P&F chart showing the 5 column moving average plotted with closing price method.
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