200 days and 200 bars are different windows
Length specifies how many observations enter the calculation; timeframe specifies what each observation represents. The same length can therefore describe very different histories. Keep the exchange-qualified symbol, price source, and adjustment settings consistent when comparing values.
- For an equity feed with no weekend bars, weekends contribute no extra observations. A continuously traded crypto feed can have daily bars on weekends.
- Multiplying 200 by the expected bars per session is not equivalent: averaging intraday closes includes prices other than each daily close.
- Require at least 200 valid daily observations. A new listing may not have enough history to produce the requested average.
| Calculation timeframe | Length 200 means | A 200-day SMA? |
|---|---|---|
| 1 day | 200 daily closing observations | Yes, with close as the source. |
| 15 minutes | 200 fifteen-minute closing observations | No. |
| 1 week | 200 weekly closing observations | No. |
| 1 day, displayed on a 15-minute chart | 200 daily closes mapped onto the intraday chart | Yes; the display timeframe does not change the daily calculation. |