Q: My comment is about the Price Labels on SharpCharts. In many cases, it seems to be one day late for best buying time. For best selling time, it seems to be mostly correct.
What do you think? Is it possible to mark the best buying time one day earlier so that we can put in buy order at the open next day?
A: First -- Do NOT use Price Labels as trading signals. They are not intended for that purpose.
The Price Labels are based on a calculation that looks "ahead" in time. They are similar to the Zig Zag indicator in that regard. They can also move if prices swing wildly. While it looks like they gave good signals in the past, that is because we "cheat" and look into the future when deciding where to draw them. These are qualities that rule price labels and the Zig Zag out for use in a buy/sell trading system. See our glossary entry on the Zig Zag indicator for more.
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