Hmmm
In most TA software, I've always noticed one of the plotting style option as HLC and always curious to know on who'd ever want to plot a chart without Open. Now, that
mystery is solved, Finally!!! :thumb:
While I follow the convention to do all important calculations and backtesting on "Close" prices, but I being overdosed with "Live in the Present" mantra from all and sundry treat "open" as an opportunity for fresh start whereas "Close" is something that happened in past.
Unfortunately, for many scrips, Open price shown at 9:16AM and close shown at 3:30pm often changes at 5pm after exchange does some data corrections (aka data tampering).
One of the most important ways I use Open is to decide the ROC; so my ROC formula is not 100 * (C - Ref(C, -1))/C but it is "100 * (C - O) / C;
Most Terminals/TA software only show ROC from prior close.
Again, I am not saying this to change your style or experiment with this. You seem to have a excellent chart reading skills, so continue with that. Just sharing alternate viewpoint w/o any implied recommendation
----------------------
Volume data changing is something that I've noticed too but I never actually thought that it was done on behest of few.
As a case in point, all the volume you had carefully posted in this thread does not match with what I downloaded from the exchange using ShubhaLabha is shown in Red
Code:
A. 18.10.13 = 84.13 Cr, Close - 6189 [COLOR="red"]64.89 Cr[/COLOR]
B. 25.10.13 = 86.79 Cr, Close - 6144.9 [COLOR="red"]52Cr[/COLOR]
C. 01.11.13 = 95.25 Cr, Close - 6307.2, HIGH - 6332.6 [COLOR="red"]89 Crs[/COLOR]
D. 29.11.13 = 78.87 Cr, Close - 6176.1 [COLOR="red"]19.07 Cr[/COLOR]
E. 06.12.13 = 83.35 Cr, Close - 6259.9, HIGH - 6300.55 [COLOR="Red"]15.85 Cr[/COLOR]
All prices match 100%
Hello Mastermind,
Welcome to this thread and Thanks for your replies. I appreciate that atleast someone has used the numbers posted by me.
Here is the data from NSE Site
Historical Data for CNX NIFTY
For the period 14-10-2013 to 18-10-2013
Date Open High Low Close Shares Traded Turnover
( Rs. Cr)
14-Oct-2013 6093.00 6124.10 6082.90 6112.70 142173640 5989.37
15-Oct-2013 6147.55 6156.30 6056.55 6089.05 218304334 6745.02
17-Oct-2013 6098.50 6110.75 6032.55 6045.85 230561463 8158.31
18-Oct-2013 6070.90 6201.45 6070.90 6189.35 250339955 8353.23
I have added it using calculator. It is hundred percent same as per my previous posting. Total of four days is 84,13,79,392. Which is exact as per my EOD data. I was really shocked after seeing your post and checked it in hurry but after finding that my EOD's data matches with NSE, I am feeling relieved. Actually I daily download data from NSE site. But I thought that NSE must have changed it after some days and you have downloaded it just now to match my figures. My falcon's data never matches with it. So I have daily routine of downloading it manually as soon as it is uploaded on site then transfer it in Amibroker. Sometimes when NSE don't update nifty's data I add all 50 scipts data in excel sheet and feed it manually in Amibroker and Metastock. I would have feel robbed if NSE changed it after somedays.
I request you to check your data and change your downloader. You have excellent skills in programing. Why don't you develop something new for us ? OK OK we will compensate you. Pls don't forget for NinjaTrader. You can understand my headache.
In most TA software, I've always noticed one of the plotting style option as HLC and always curious to know on who'd ever want to plot a chart without Open. Now, that mystery is solved, Finally!!! :thumb:
Every trader has something mysterious in his analysis. You caught mine now share yours !!
While I follow the convention to do all important calculations and backtesting on "Close" prices, but I being overdosed with "Live in the Present" mantra from all and sundry treat "open" as an opportunity for fresh start whereas "Close" is something that happened in past.
I am unable to understand it properly as English is not my first language but whatever it is I am open to discuss it. Just share how you use open in any analysis ? Then I will reply and may learn something but as you know old habits die hard. (I am using charts in this way for many years.)
Unfortunately, for many scrips, Open price shown at 9:16AM and close shown at 3:30pm often changes at 5pm after exchange does some data corrections (aka data tampering).
Yes you have used correct word. ITS DATA TAMPERING. Either your vendor or NSE has tempered with data during market hours or after market hours. But TEMPERING ZAROOR HUI HAI. But here no penalty because no third empire like in cricket. Sometimes its good like on 16th Dec 2013 Nifty Futures first order was very small just two orders of 283 lots each at 6317.35 and next order was at 6417 and this small order gave wrong spike for whole day in charts and price never touched it again for whole day. Its best to omit or ignore it instead of taking decision on the basis of it. Majority of times volume changes after market hours, its because of many reasons some genuine some not but its not good to add the data of 9.15 to 3.30 with 3.30 to 4.00.
One of the most important ways I use Open is to decide the ROC; so my ROC formula is not 100 * (C - Ref(C, -1))/C but it is "100 * (C - O) / C;
Most Terminals/TA software only show ROC from prior close.
Once upon a time I was very fond of ROC but now don't touch any indicator. Open price is good for you as you are using it in your analysis but still it has no place in my analysis.
Again, I am not saying this to change your style or experiment with this. You seem to have a excellent chart reading skills, so continue with that. Just sharing alternate viewpoint w/o any implied recommendation
Thanks for your kind words. I consider myself as a student and still learning and trying to master it.
I know many analysis direct toward same result. I chose my weapon. It doesn't mean other weapon's are not effective. This weapon suits my style aka mentality and I am comfortable with it. I checked many systems together for many nights and compared them in excel sheets and found that sometimes some work faster sometime others. Volume also give false signals sometimes. I know and for that I have another weapon. STOP LOSS.
Just read the thread . Quite informative ...... Just that its getting lost in the middle of too many threads , I am sure there is a big audience for SI. Keep sharing mate
Thanks Grules for your kind words. I had different plans but you changed my mind.
Regards
Strategic Investments