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Please let me repeat from my earlier post on that:
"If what matters are the OB/OS
levels, as is usually the case, then other "normalizations" do not
matter.
If you do not want to distort the shape of CCI v. [t] histogram
(#CCI in a 'bin' dCCI per fixed period dt), then make a linear
scaling wrt Y-axis to [-1,1] interval. This, however, would depend
on floating [Min, Max] interval, not defined for unbounded indicator
function, so it won't be useful."
Obviously:
(1) scaling unbounded oscillator like CCI to [-1,1] would depend on
sampling interval and defeats the purpose,
(2) STOC(Indicator) like StocRSI is a highly non-linear operation
that in fact produces a new indicator with interesting properties.
In particular, one would need to determine new OB/OS levels for such
an indicator, whereas
(3) tanh() gives a simple transformation with one-2-one
correspondence of OB/OS levels to the original.
I guess this is what one wanted to have, IMO...
cheers--
--- In amibroker@xxxxxxxxxxxxxxx, "Terry" <MagicTH@xxxx> wrote:
>
> One could also simply ratio the highs and lows to 1, -1
>
> You could also apply a Stochastic formula, which isn't exactly a
ratio,
> but does keep the range between -1 and 1. Here is that formula
applied
> to the RSI of the Close (giving SRSI). You can apply it to what
> indicator you wish:
>
> /* StochRSI %K Calculations (SRSI) */
>
> Period = 14;
> xRSI = RSI(Period); //Define whatever you want Stochastics of here
> SRSI = (xRSI - LLV(xRSI,Period))/(HHV(xRSI,Period) - LLV
(xRSI,Period));
>
> --
> Terry
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