V.10:1 (38-42): SIDEBAR: THE RANDOM WALK INDEX
Product Description
THE RANDOM WALK INDEX
The channel height ratio to one day figures given show a consistent excess beyond the square root column. This excess indicates the presence of trends and hints how to create a trend "yardstick." If no trends were present, the ratios would be expected to all fall exactly on the square roots, and thus an "expected random walk" over n days would be the square root of n multiplied by the average daily range (same as average one-day channel height).
The channel height ratio to one day figures given show a consistent excess beyond the square root column. This excess indicates the presence of trends and hints how to create a trend "yardstick." If no trends were present, the ratios would be expected to all fall exactly on the square roots, and thus an "expected random walk" over n days would be the square root of n multiplied by the average daily range (same as average one-day channel height).
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