For the benefit of those who may not know ... many varieties of smoothed medians are available.
My choice is a formula shown to me by a former ASX top 20 company employee, for use in multiple situations involving volatile data.
With his help over thirty years ago, the formula validly depicted turning points giving reliable indications of forward momentum.
Like all statistical patterns used by the best chartists, some fail, but enough succeed to make their use productive.
Skill in managing a limited number of unexpected reversals is also critical as good chartists here note.
Smoothed medians are the opposite of fictitious in a sufficient majority of cases.
Here are some other median smoothing methods from the Univerisity of Pennsylvania
http://www-stat.wharton.upenn.edu/~waterman/Teaching/541f98/smoothing/smooth.htm
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