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Indicators that are scaled in the range 0 to 1
Posted: Wed Feb 27, 2013 7:43 pm
I have a simple request; can the board suggest indicators that are scaled in the 0 to 1 range, or can be easily adapted to be so?
Posted: Thu Feb 28, 2013 6:37 am
Here are a few indicators that are scaled from 0 to 100 (or 0 to 1 . . . same thing)
-Aroon (from Chande)
-Directional Movement (from Wilder)
-Ultimate Oscillator (from Williams)
-The 'B' Indicator (from Shepasvilli's(?) B & Q indicators)
. . . . many more, I'm sure
Also note that any indicator (moving averages included) may be normalised to the 0-100 boundaries (or from 0-1 if you prefer) using either historical highs or 'x' periods highs & lows.
See below for details if this sort of thing interest you;
Posted: Thu Feb 28, 2013 8:56 am
Can't use just use percentiles based on X periods of history to get scale from 0 - 100? Then just divided by 100 to get your 0 - 1 range
Posted: Thu Feb 28, 2013 9:25 am
The Consensus Oscillator (discussed HERE)
is scaled in the range
-100% <= ConsensusOsc <= +100%
You could shift it to the range (0,1) by adding 100% and then dividing by 200%.