Muchlike in the first test, the results on the 1-minute and 5-minute charts do beat the asset over the same period of time, but the 15-minute results fall short in every case. It must be noted, however, that the 5-minute strategy here does, in fact, outperform the 5-minute bullish strategy from our first test.
Whileexploring the differences between 1-minute and 5-minute charts, it’s crucial to consider transaction costs. 1 Minute Chart: High-frequency trading on 1-minute charts can lead to increased trading costs due to higher commissions and potentially
Similarly if hours are used, the average hour's gain is compared against the average hour's loss over the relevant lookback period. RSI can be used on any timeframe, including a 1-minute or 5-minute chart, and simply calculates its values based on the period to which the indicator is applied, based on a default using closing prices for the
Thisperiod can be changed to represent a slower or faster moving average (i.e. 5-minute, 60-minute, daily). For example, if you are using a 5-minute chart, you will want to jump up to the 15-minute view. It is extremely difficult to predict major market shifts. For example, there have been bears calling for the collapse of the current bull
Theterm Minutes commonly refers to the official written record of what was discussed and decided during a formal meeting. The word "minute" in this context stems from the Latin phrase "minuta scriptura", meaning "small notes". A Minute, on the other hand, is a measure of time that equates to 60 seconds, and is a sixtieth of an hour.
Summary At the moment, Pine Script doesn’t have a variable that tells if code runs on a minute time frame (1 to 59 minutes). There’s timeframe.isminutes, but that one captures hourly charts too – which TradingView also makes from minute data. But knowing if a script runs on a minute time frame is useful. We may have a short-term
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1 minute vs 5 minute chart
