Stocks & Commodities V. 21:2 (60-63): The Concept Of Equivalence by Giorgos Siligardos, Ph.D.
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The Concept Of Equivalence by Giorgos Siligardos, Ph.D.
Try this to avoid using two indicators that are equivalent.
Let me present an objective, mathematical way to determine when two indicators are equivalent with respect to divergence. Knowing when two or more indicators are equivalent will allow you to watch only one of them for divergences, saving you time. Further, by using appropriate functions, you can convert a normalized (bounded) oscillator into a denormalized one and preserve its performance with respect to divergence. This lets you create indicators as compositions of normalized and nonnormalized oscillators.
Try this to avoid using two indicators that are equivalent.
Let me present an objective, mathematical way to determine when two indicators are equivalent with respect to divergence. Knowing when two or more indicators are equivalent will allow you to watch only one of them for divergences, saving you time. Further, by using appropriate functions, you can convert a normalized (bounded) oscillator into a denormalized one and preserve its performance with respect to divergence. This lets you create indicators as compositions of normalized and nonnormalized oscillators.
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