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OmniTrader 2016 Forums
OmniTrader 2018 General Discussion
Missing Scale Indicator Values Check Box
Last Activity 10/25/2018 4:20 AM
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Vinay

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Subject : Missing Scale Indicator Values Check Box
Posted : 11/29/2017 9:21 AM
Post #42703

In OT help manual under the topic "Creating, Editing and Defining and ATS Method" it is mentioned that:

"The Scale Indicator Values check box allows you to scale the return value of your indicators. This is a normalization process that will rarely affect results."

The screenshot there also shows "Scale Indicator Values", however in my case I am not seeing this option. What could be the reason?



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Barry Cohen

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Subject : RE: Missing Scale Indicator Values Check Box
Posted : 11/29/2017 9:33 AM
Post #42704 - In reply to #42703

That setting was removed & it was overlooked in the manual. I'll have someone fix it in the first PR, thanks.
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Vinay

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Subject : RE: Missing Scale Indicator Values Check Box
Posted : 5/11/2018 10:52 AM
Post #44660 - In reply to #42703

Barry,

Can you clarify exactly what "Scale Indicator Values" setting when checked does?



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Barry Cohen

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Subject : RE: Missing Scale Indicator Values Check Box
Posted : 5/11/2018 12:16 PM
Post #44663 - In reply to #44660

It scales all the ATS ranking values to a 0-100 value. It should only make a difference to someone that's looking at the ATS Rank column values.
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mholstius

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Subject : RE: Missing Scale Indicator Values Check Box
Posted : 5/11/2018 1:06 PM
Post #44666 - In reply to #44663

I can contribute a bit from some testing I did back in March…

intentionally set it up so that ATM was ranking 2 variables that had very different values (scales); Money Flow and VTY.

The snag below shows that in that case it’s absolutely necessary to have the “Scale Indicator Values” checked to get valid results.




Since the results shouldn’t be affected with “Scale Indicator Values” checked if the scales are the same (VTY ranked with a different VTY formula),
I’ve decided to always have “Scale Indicator Values” checked if I’m balancing 2 Ranking functions.

i.e.: it can’t hurt, but if not checked, it can certainly change your results.


Hope that helps,
Mark


[Edited by mholstius on 5/11/2018 1:09 PM]

Attached file : Scale test.png (210KB - 171 downloads)

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Vinay

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Subject : RE: Missing Scale Indicator Values Check Box
Posted : 5/12/2018 1:19 AM
Post #44675 - In reply to #42703

Thanks Mark for explaining it so painstakingly with snags.

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