- ago
I think it is a big step forward that WL7 knows about Indicator categories like "Smoother" and "Oscillator".
I'd suggest another category "Rate of Change".
The indicators in this category share the following properties:
* value ranges are symmetrical around the zero line
* ranges are similar for all symbols

I'd put the following indicdators from WL7's current indicator set into the "Rate of Change" category:

(Abbreviation, Name, Family)

SMI Stochastic Momentum Index Indicators
Wm%R Williams %R Indicators
MACZ MAC-Z Oscillator Indicators
LogReturn Log Returns Indicators
TrendStrengthA TrendStrength A Indicators
KaseCDOscillator Kase CD Oscillator Indicators
TSI True Strength Index Indicators
KasePeakOscillator Kase Peak Oscillator Indicators
TrendScore TrendScore Indicators
CCI Commodity Channel Index Indicators
CMO Chande Momentum Oscillator Indicators
KST Know Sure Thing Indicators
Coppock Coppock Curve Indicators
VChart Value Chart Indicators
UpDown UpDown Indicators
DSO DSO TASC
Spearman Spearman TASC
SZO SZO TASC
ZScore ZScore TASC
UCI UCI TASC
TTF TTF TASC
BBandPercentB BBandPercentB TASC
BollingerPctBSmoothed BollingerPctBSmoothed TASC
MyRSI MyRSI TASC
Trendflex Trendflex TASC
CandleCode CandleCode TASC
PVI PVI TASC
PZO PZO TASC
STMACD STMACD TASC
QuotientTransform QuotientTransform TASC
RainbowOsc RainbowOsc TASC
Reflex Reflex TASC
RelVol RelVol TASC
UniversalOscillator UniversalOscillator TASC
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- ago
#1
Looks like I can't edit my original post. So here is an updated list of
"Rate of Change" Indicators:

Abbreviation Name LibraryName
AroonOsc Aroon Oscillator Indicators
CCI Commodity Channel Index Indicators
CMO Chande Momentum Oscillator Indicators
Coppock Coppock Curve Indicators
Corr Correlation Coefficient Indicators
KaseCDOscillator Kase CD Oscillator Indicators
KasePeakOscillator Kase Peak Oscillator Indicators
KST Know Sure Thing Indicators
LogReturn Log Returns Indicators
MACZ MAC-Z Oscillator Indicators
ROC Rate of Change Indicators
SMI Stochastic Momentum Index Indicators
TrendScore TrendScore Indicators
TrendStrengthA TrendStrength A Indicators
TSI True Strength Index Indicators
UpDown UpDown Indicators
VChart Value Chart Indicators
VSI Volume Surge Index Indicators
Wm%R Williams %R Indicators
BBandPercentB BBandPercentB TASC
BollingerPctBSmoothed BollingerPctBSmoothed TASC
CandleCode CandleCode TASC
CorrelationAngle CorrelationAngle TASC
CorrelationTrend CorrelationTrend TASC
DSO DSO TASC
FDSO FDSO TASC
Fisher Fisher TASC
FMDemodulator FM Demodulator TASC
FOM FOM TASC
FVE FVE TASC
MESAStochastic MESAStochastic TASC
MoneyFlowOscillator MoneyFlowOscillator TASC
MyRSI MyRSI TASC
PVI PVI TASC
PZO PZO TASC
QuotientTransform QuotientTransform TASC
RainbowOsc RainbowOsc TASC
Reflex Reflex TASC
RelVol RelVol TASC
RocketRSI Rocket RSI TASC
ROCWBLower ROC with Bands Lower TASC
Spearman Spearman TASC
STMACD STMACD TASC
SVEZLRBPercB SVEZLRBPercB TASC
SZO SZO TASC
Trendflex Trendflex TASC
TTF TTF TASC
UCI UCI TASC
UniversalOscillator UniversalOscillator TASC
VPN VPN TASC
VZO VZO TASC
ZScore ZScore TASC

0
- ago
#2
I see the idea as very controversial for many reasons:

- Superfluous: introduces a "fine grained" category without a real necessity (Occam's razor)

- Adds ambiguity: the same indicator may fall in two categories, oscillator and the "RoC"

- Crowds the interface: more and more (superfluous) radio buttons

- Confusing brand: as Rate of Change is an indicator per se, creating a synonymous category would be perplexing to new users. I'm advocating especially new users here as it's too easy to lose a potential customer due to overloaded interface.

- Hey, why isn't ROC in the RoC?
1
- ago
#3
There is this an important difference between an "Oscillator" and a "RoC" indicator:

An Oscillator has a fixed range (same for all symbols) which is *positive* i.e. has only values >= 0, typically between 0 and 100. And an oscillator has "oversold" and "overbought" levels.

A RoC indicator has values around the zero line, i.e *positive and negative* values.

In tool like Indicator Profiler there is a "Signal Line" for an Oscillator. (created by an smoother applied t the oscillator)

The Signal Line for an RoC indicator is the zero line.

This may sound subtle for an average user which just looks at charts but it makes a huge difference when it comes to tools like (existing) Indicator Profiler or (future) Machine Learning Tools.

For today my main argument goes as follows:

Whenever there is a Roc-Type indicator in a trading strategy it may make sense to experiment with replacements form the "RoC" category and find some interesting enhancements.

To do so it is helpful to have such a RoC category.
0
- ago
#4
Perhaps renaming the categories might help.

[1] Oscillators (zero centered)
[2] Oscillators (positive going w/bands)
[3] Oscillators (misc)

At any rate, the problem is the nomenclature. "Rate of Change" is ambiguous. And all of these are oscillators, but of a different kind. I do like the idea of grouping the indicators, though.

What we really need is a post processing indicator that can convert (cast) Type 1 oscillators into Type 2 oscillators and vice versa. But that's "probably" another topic.
0
Glitch8
 ( 9.67% )
- ago
#5
Now that Transformer Indicators are a reality, what would this "post processing" indicator do? Convert another Indicator to a 0-100 range? Based on a portion of it's history?
0
Glitch8
 ( 9.67% )
- ago
#6
I think perhaps a better name for a new indicator group might be "Momentum."
2
Glitch8
 ( 9.67% )
- ago
#7
Although I did consider this, I'm going to decline it because I can't see a really great reason for the additional complexity.
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