Hello,
in a workshop about WealthLab 7 I learned that the "NegativeCloses"-Indicator compares the Close of the current bar to the Open of the current bar, while the "ConsecutiveDowns"-Indicator compares the Close of the current bar to the Close of the previous bar.
However, when checking out the charts, it seems that also the "NegativeCloses"-Indicator does compare the Close of the current bar to the Close of the previous bar!
Also, this explanation (Wealth Lab 6) hints that:
https://www2.wealth-lab.com/wl5wiki/NegativeCloses.ashx
So my question is: What is the difference between "NegativeCloses" and "ConsecutiveDowns"?
Thanks for your help!
Werner
in a workshop about WealthLab 7 I learned that the "NegativeCloses"-Indicator compares the Close of the current bar to the Open of the current bar, while the "ConsecutiveDowns"-Indicator compares the Close of the current bar to the Close of the previous bar.
However, when checking out the charts, it seems that also the "NegativeCloses"-Indicator does compare the Close of the current bar to the Close of the previous bar!
Also, this explanation (Wealth Lab 6) hints that:
https://www2.wealth-lab.com/wl5wiki/NegativeCloses.ashx
So my question is: What is the difference between "NegativeCloses" and "ConsecutiveDowns"?
Thanks for your help!
Werner
Rename
Hello Werner,
The NegativeCloses does not compare Close to Open. What it does is sum up the values of a timeseries (like the Close) if they decline consecutively. Internally, NegativeCloses is based on ConsecDown. As you can see from its parameters only one series is accepted.
The NegativeCloses does not compare Close to Open. What it does is sum up the values of a timeseries (like the Close) if they decline consecutively. Internally, NegativeCloses is based on ConsecDown. As you can see from its parameters only one series is accepted.
OK, thanks
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