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Normalized Indicator and Normalization - Price/Indicator by Jose Silva
Normalizes indicator to 0~100% boundaries.

Normalized Indicator

{ From: }

{ User inputs }

plot:=Input("plot: [1]Indicator, [2]Oscillator",1,2,2);
pds:=Input("Indicator periods",1,2600,21);

{ Indicator - EMA example }


{ Normalize indicator to historical highs/lows }

Oscillator:=(Ind-Lowest(Ind)) / Max(Highest(Ind)-Lowest(Ind),.000001)*100;

{ Plot: Indicator on chart, oscillator in own window }




I often get asked something along this line of thinking:"My price chart is out of scale when I apply the MACD to it - how can I get MACD()/price crossover signals?"

Before we can apply any relative comparisons between a chart and unscaled indicator, both plots need to be normalized to a common scale.

There are two easy ways to normalize plots to 0~100%: using historical High/Lows, or x periods' High/Low.


Normalization - Price/Indicator

{ Normalizes two data array plots to within 0~100% boundaries, and allows direct
comparisons between the two plots. }

{(C)Copyright 2004 Jose Silva.
For personal use only. }

{ Choose between normalizing lookback periods

or historical High/Low normalization }
pds:=Input("Normalizing lookback periods (1= historical Hi/Lo)",1,2600,126);

{ Plot 1: Price section }


{ Choose x pds or historical Price High/Low }


{ Price normalized to 0~100% }


{ Plot 2: Indicator/Oscillator section }


{ Choose x pds or historical Indicator High/Low}


{ Indicator normalized to 0~100% }


{ Plot in own window }



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