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Future Trends from Past Cycles: Identifying share price trends and turning points through cycle, channel and probability analysis by Brian Millard

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8. Properties of Moving Averages

In this chapter we will be investigating the properties of moving averages and how they can be used to represent a trend in market data. We will also see the advantage in plotting centred averages rather than unlagged averages, which is the common way of presenting them on charts.

Calculation of Moving Averages

Since, as mentioned in the previous chapter, all technical analysis packages can calculate averages, it might appear to be unnecessary to show how they are calculated. However an appreciation of the process will serve us very well in investigating the properties of moving averages and will also show their value when used to investigate cycles.

We will take as an example a set of market data of which ...

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