Plotting Cash Data in Excel part1
We use line charts for neo wave analysis. The reason why we do not use candlestick charts does not fit in this space, but it is very clear that analysis in linear charts is much easier and more specialized, because it is very accurate in identifying single waves and patterns.
In Neowave we use two types of line charts:
1- Using a data point for each candlestick
2- Using two data points for each candlestick
The first type of data is also called mean data and is abbreviated to HL / 2. In this type of data, from each candle in the reference time that we want to analyze, we average between High and Low, that is, we add High with Low and divide the result by 2. In general, this type of data is fully described in the reference book and does not need further explanation.
But in general, the average data is very weak compared to the second type of data and its use is not recommended.
The second type of data, which is created using two points from each candlestick in the reference time, is called CASH DATA. Unfortunately, this data is not available in any software and must be prepared manually, for which there are various ways that we deal with it.
Therefore, drawing a data cache is drawing High and Low simultaneously with respect to priority and latency.