Clip
The value held between a lower and an upper bound; beyond a bound it reads as that bound.
Clip passes its input through unchanged while it sits between lower and upper. Below lower it reads lower, above upper it reads upper. The bounds are in the input's own units. With the defaults, 0 and 1, every close is above the upper bound, so the default chart is a flat line at 1.
How to read it
- The line sits in its own pane; with the default bounds it is flat at 1.
- Flat stretches at a bound mean the input sat beyond it.
- Set the bounds around the input's usual range to cap outliers and leave ordinary values alone.
What it outputs
- Clipped value
- The input, held at lower when below it and at upper when above it.
Settings
- Lower
- The floor. Values below it read as lower; raising it flattens more of the low readings.
- Upper
- The cap. Values above it read as upper; lowering it flattens more of the high readings.
Pitfalls
- The defaults suit inputs between 0 and 1, not prices: on a close they cap every bar.
- Readings held at a bound lose their detail: two very different values beyond upper both read as upper.