Velocity - normalized:
Velocity - normalized using ATR, deviation or no-normalization.
Author: Mladen Rakic
Couple of usage examples ...
Due to code base limitations, pictures tend to be too small and without enough details that can serve as a self-explanatory guide how to use some indicator. Hence, from time to time, will be posting some extended examples with examples that will show more than the basic code base entry. Here are some examples ...
Those same defaults but using standard deviation without sample correction for normalization produces this result :
As it is obvious, the results are very different. And also, these example are roughly showing how this type of velocity indicator can be used in "trending" mode instead of usual "momentum" mode (since velocity is a smoother momentum indicator after all). In any case some parameters experimenting is advised in order to optimally adjust indicator to the used instrument