I am trying to understand something:
If I calculate an EMA over 5 days, using the hourly close, I have to go over 5 * 24 points.
If I calculate an EMA over 5 days, using the minutes close, I have to go over 5 * 60 * 24 points.
Obviously, the 'close' value is very arbitrary and the hourly data may miss a lot of of things.
What surprised me is that when I plot EMAs, in TradingView, over the same time period, but with a very different resolution as described above, the output is very different, up to 20% in the last few days.
Is it the extra data, in the minutes resolution, responsible for this?
In that light, shouldn't the high resolution data be more useful as more 'true' to the real signal? (with the assumption that using 'close' values is arbitrary and may miss a lot of important moments.