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Strategies & Market Trends : StockCharts.com
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To: Cush who started this subject1/25/2002 8:49:18 AM
From: Bart Goemaere  Read Replies (1) of 836
 
I encountered the following problem using P&F in stockcharts :

We have been looking at the P&F chart of LJPC since 1 Jan 2002 and have seen the chart is different with the chart of another technical analysis program. Therefore we started looking at the data more carefully.

We have used the following settings for a P&F chart :

Ticker : LJPC
Scaling : Percentage
Reversal : 3
Box Size : 1.66 (every time the stock changes with 5% we get a reversal)

This is the historical Data of LJPC since Jan 1 2002 :

Date Open H L Close
24-Jan-02 7.53 8 7.49 7.51
23-Jan-02 7.55 7.55 7.38 7.38
22-Jan-02 7.80 8.23 7.45 7.49
18-Jan-02 7.95 7.98 7.42 7.79
17-Jan-02 8.20 8.25 7.81 7.97
16-Jan-02 8.65 8.68 8.05 8.30
15-Jan-02 8.26 8.50 8.25 8.49
14-Jan-02 8.50 8.53 8.10 8.53
11-Jan-02 8.70 8.70 8.20 8.42
10-Jan-02 8.66 9 8.57 8.63
9-Jan-02 9.36 9.42 8.50 8.78
8-Jan-02 9.35 9.35 9.01 9.20
7-Jan-02 9.05 9.42 9.05 9.25
4-Jan-02 9.26 9.35 9 9.11
3-Jan-02 8.80 9.20 8.05 9.07
2-Jan-02 8.60 9 8 8.80

If you now look very carefull at the P&F obtained you will see this :

Starting next to the O column with the number 1 in it :
A column of X's starting at 8.27 till 9.27
Then a column of O's starting at 9.12 till 8.54
Then a column of X's starting at 8.68 till 8.97

If you apply the rules of P&F charting this is impossible. After the stock moved up to 9.27 the stock dropped but it never came near to 8.97 again (look in the historical data from 7 jan on).

Apparently to us there is something wrong with the way how the P&F charts are created because others technical analysis P&F programs are giving us other results with the same parameters for ALL stocks. We just saw it for LJPC by accident.

Is our observation correct or are we wrong?

Txs for the help!
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