So below this text is a screenshot of ice price trends that I’ve just taken. I’m dyslexic and dyscalculic so I find deciphering stuff like this really difficult, so is there a chance someone can explain what I’m looking at, please?
I do get the general idea of this chart and I get the volume bit (I’m assuming that this is the quantity of ice being sold) but what exactly is the Median Day Price, the Moving Average, and the Donchian Channel please?
Thanks!
Median day price, moving average, and Donchian channels are all stock market terms. A Donchian channel is an indicator of where prices for a particular product break though the average high or low of the previous 20 days (at least that’s how it works in real life trading). I don’t know what the time period of the channel is that EVE uses. Players that know more than I do about this subject need to stop playing EVE and start day trading. The median and average depend on the volume of ice being sold.
But frankly I am not sure if the EVE medians are not actually misnamed averages when it comes down to it: https://forums-archive.eveonline.com/default.aspx?g=posts&t=522210. It is not really THAT important though, for ice they will be very similar.
Moving average is the average price of e.g. a 5 day or 10 day period. They are easy to look at but ultimately just shows the same as other indicators, with delay.
“The Donchian channel is an indicator used in market trading developed by Richard Donchian. It is formed by taking the highest high of the daily maxima and the lowest low of the daily minima of the last n days, then marking the area between those values on a chart”.
I have been trading 8 years, at this point I have removed every indicator except the orange dots, the medians. They tell me everything that is going on, including what is going on right now.
Old stuff from Vaerah: https://forums-archive.eveonline.com/default.aspx?g=posts&t=50875
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