摘要：This paper analyzes the value of employing simple moving average (SMA) and moving average (MA) technical trading rules for intraday stock trading in the Indonesia Stock Exchange.We test independently SMA[5],SMA[10],SMA[15],MA[5,50],MA[5,150],and MA[5,200] trading rules.We find all three SMAs and MA[5,200] tend to deliver returns greater than the unconditional basic return (UBR),while MA[5,50] and MA[5,150] generate returns less than UBR.We conclude that SMAs are more valuable than MAs as intraday technical trading rules.
