Updates:
I noticed the Variable Moving Average formula I used previously was an expanding model with a rather significant amount of overshoot, so I reverted to Tushar Chande's model.
I removed ATR Efficiency from the list, as it is not nearly as effective for this type of calculation as the other indices.
I've implemented some new methods for transforming operator data for different results:
- Standard, which uses the default Efficiency Ratio calculations
- Max Min Normalize, which normalizes the operator data based on maximum and minum values, resulting in a more sensitive response
- Inverse Fisher Normalize, which performs an Inverse Fisher Transform to the operator, then performs Max Min Normalization
- Gate, which changes all values below the gate to 0, resulting in a less sensitive response
The secondary band percentage for the high and low zones is now adjustable. The default value is now 61.8%.
The bar color scheme has been adjusted to highlight overbought and oversold conditions.