Hey Bob - I just remembered something from way back when I started charting using NexTrend. I, too, wanted to have an expanded weekly below the daily. But after fooling around a bit, I found the comparison of the two candle patterns just confused me. Because mathematically candlestick charting is a sampling and integration process, you get somewhat different looking results depending on exactly what period and interval you use. FWIW, in signal processing this is called aliasing.
To see this, create two charts, one above the other. Make the upper chart a weekly chart, and the lower one a five day chart. They are not quite the same, because the weekly uses Monday through Friday, whereas the five day uses a rolling five day period. I believe that sometimes you can make different candle pattern interpretations from the two.
For this reason, if I want to see what's going on in a longer time frame, I simply compress a short period chart. For example, to get a bird's eye view of the day, I compress a one minute chart to fill the screen for the whole day. No sampling, no integration, no aliasing. I find such a chart to be particularly pleasing and informative. - Mike |
