NORMALIZING AN INDICATOR SCALE

NexusFi · 2019-01-23T17:44:14-05:00

I have been testing out some momentum indicators that use other indicators as the input rather than price (see the aqua colored bar histogram below), and I was wondering if there is a way to achieve the same scale or equalize it regardless of the symbol used? In other words, a scale from 1-100 or 0-1 . Not sure the actual scale range matters much, but I would like the SAME scale to work from symbol to symbol without having to customize the thresholds I'm using as filters each time I apply the indicator …

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Updated January 23, 2019

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NORMALIZING AN INDICATOR SCALE

January 23rd, 2019, 05:44 PM	#1 (permalink)
Bullywig Chicago Elite Member Experience: Intermediate Platform: NinjaTrader Broker: NinjaTrader Brokerage Trading: FDAX, NQ, HG, SI, CL Posts: 68 since Oct 2015 Thanks Given: 42 Thanks Received: 22	I have been testing out some momentum indicators that use other indicators as the input rather than price (see the aqua colored bar histogram below), and I was wondering if there is a way to achieve the same scale or equalize it regardless of the symbol used? In other words, a scale from 1-100 or 0-1 . Not sure the actual scale range matters much, but I would like the SAME scale to work from symbol to symbol without having to customize the thresholds I'm using as filters each time I apply the indicator to a new symbol. As you can see below, the relevant reading on each scale are quite different as far as decimal places are concerned; so if a threshold of .2 and -.2 work as a filter on the NQ, they will not work on the CL or work differently as a filter; I have to customize the threshold levels for every market. Not sure if this can be done or not, but hoping someone can point me in the right direction. Cheers Bullywig

Last Updated on January 23, 2019