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Eric,
S:=OscP(4,8,S,$)/Stdev(C,8); is normalized to the Standard Deviation.
You could normalize it to itself if you wanted to but I'm not sure
why you would want to do that.
By using HHV(data,periods) you can define your periods. I would base
this on how you are trading. If my memory serves me correctly 248 is
the number of periods that you would use to look at a years worth of
daily data. Half of that (124) would evaluate six months worth of
daily data. TA is not an exact science. Variations exist with good
cause. If you can reason a benefit to a particular number then use it.
As far as combining different indicators into one, my preference is
not to do that. I may combine the signals, in which case a binary
works well. Here's an example:
X:=MACD() > 0;
Y:=RSI(14) > 70;
BNRY:= X + Y;
BNRY
When the value of the variable BNRY is 2 you would have both
conditions being met.
One more point! The variable names that you are using(S & T) will not
work because Metastock reserves those names for other purposes. This
one will work and is quite good for giving short term signals. Have
you looked at it on a chart?
{Erics Oscillator}
XS:=OscP(4,8,S,$)/Stdev(C,8);
XT:=XS/Highest(XS);
XT; {end}
regards,
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, chichungchoi <no_reply@xxxx>
wrote:
>
>
> Hi Preston:
> Thank for your link, the rescaling indicators are the issue to
> combine indicators together, such as
>
> Simple MA Osc norm to Std Dev
> S:=OscP(4,8,S,$)/Stdev(C,8); Before Normalization
> T:=S/Highest(S); After Normalization, range will be between -1 and 1
>
> I can use the Highest(S) for scaling in this case, however,
> when I use the function Highest(), then it will pick the maximum
> value based on the available loaded data in Metastock, which cause
> the problem on the value of T, since the maximum value keeps
changing
> according to different length of loaded periods. Then I think of
> using a fixed length period to determine the Maximum value of S for
> scaling. At this point, I get no idea how to choose the period
> length, do you have any suggestion please?
>
> On the other hand, in term of combining different indicators into
one,
> do you have any idea on how to determine the weighting factor for
> each indicators? I understand the neural network will determine it,
> but in my case, I need to combine indicators manually,
> such as 4 indicators together, do you have any idea please?
> Thank you
> Eric
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