Right - let’s start this morning again shall we (and get on with our learning and trading).
When you use any of the indicators most of them (if not all) give you the option of changing the period.
What I want to know is this:
Let’s just take ADX for example:
The default period is 14 (like most of the other indicators).
Does this mean that on the Daily Chart the indicator is assessing 14 days;
on the Weekly Chart it is assessing 14 weeks;
on the 4 Hour Chart it is assessing 14 ‘blocks’ of 4 hours;
on the 1 Minute Chart it is assessing 14 minutes?
Also - by the way - why is the number 14 so significant (most of the indicators as you well know default to 14)?