Forex encyclopedia

In measurement formula for Joe Granville indicator, close prices compared with the purpose of adding or deducting of volume, whereas Williams' indicator open and close prices are compared. Marc Chaikin compares close prices with the middle of range from minimum to maximum. The history of indicator is interesting on its own. In Larry Williams formula, Chaikin substituted open price for price of range. The reason of change was not that he considered it wrong, but that he was not able to find data on prices of opening. That time prices were taken from daily papers, which, due to some reason, stopped publishing prices of opening.
On the Forex market 2 groups of participants can be conditionally distinguished. Big participants are those making transactions of large volumes. First of all this group includes commercial banks, Central Banks, market makers and funds – able to operate with amounts of billion US dollars and thereby influencing market a lot.
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Forex encyclopedia
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