Dear Customer,
An explanation of functions used in the model
The aim is to explain that price can act as an independent variable
Definition of an independent variable
Screen shot of function
As you can see, price can act as an independent variable.
For Ramadan, Hajj, and Ashoura, I actually searched every single day since 1998 to 2018 when there was these holidays. I then put a Dummy for them: 1=day with a holiday, 0= day with no holiday.
If you check the data in excel, you will observe that there are days when TASI did not operate. If I used weekly data, our error would be so big. We would have a problem especially with Ashoura and Hajj ceremonies. Working with daily data is more tedious but more precise.