OPEN-SOURCE SCRIPT
Slope Normalizer
Actualizado
Brief:
This oscillator style indicator takes another indicator as its source and measures the change over time (the slope). It then isolates the positive slope values from the negative slope values to determine a 'normal' slope value for each.
** A 'normal' value of 1.0 is determined by the average slope plus the standard deviation of that slope.
The Scale
This indicator is not perfectly linear. The values are interpolated differently from 0.0 - 1.0 than values greater than 1.0.
Because the slope value is normalized, the meaning of these values can remain generally the same for different symbols.
Potential Usage Examples/b]
Using this in conjunction with an SMA or WMA may indicate a change in trend, or a change in trend-strength.
This oscillator style indicator takes another indicator as its source and measures the change over time (the slope). It then isolates the positive slope values from the negative slope values to determine a 'normal' slope value for each.
** A 'normal' value of 1.0 is determined by the average slope plus the standard deviation of that slope.
The Scale
This indicator is not perfectly linear. The values are interpolated differently from 0.0 - 1.0 than values greater than 1.0.
- From values 0.0 to 1.0 (positive or negative): it means that the value of the slope is less than 'normal' **.
- Any value above 1.0 means the current slope is greater than 'normal' **.
- A value of 2.0 means the value is the average plus 2x the standard deviation.
- A value of 3.0 means the value is the average plus 3x the standard deviation.
- A value greater than 4.0 means the value is greater than the average plus 4x the standard deviation.
Because the slope value is normalized, the meaning of these values can remain generally the same for different symbols.
Potential Usage Examples/b]
Using this in conjunction with an SMA or WMA may indicate a change in trend, or a change in trend-strength.
- Any values greater than 4 indicate a very strong (and unusual) trend that may not likely be sustainable.
- Any values cycling between +1.0 and -1.0 may mean indecision.
- A value that is decreasing below 0.5 may predict a change in trend (slope may soon invert).
Notas de prensa
Simpler cleaner use of deviation value.Notas de prensa
Clean out unused DataCleaner reference.Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
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