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Jim, you can normalize any price/indicator to a 0~100% bounded oscillator
with the indicators below from
http://www.metastocktools.com/#metastock
MetaStock -> Tools -> Indicator Builder -> New
-> Copy and paste formulae below.
====================
Normalized Indicator
====================
---8<---------------------------
{ Normalizes indicator to 0~100% boundaries }
{ From: http://www.metastocktools.com }
{ User inputs }
plot:=Input("plot: [1]Indicator, [2]Oscillator",1,2,2);
pds:=Input("Indicator periods",1,2600,21);
{ Indicator - EMA example }
Ind:=Mov(C,pds,E);
{ 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 }
If(plot=1,Ind,Oscillator)
---8<---------------------------
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
===============================
---8<--------------------------
{ Normalizes two data array plots to within
0~100% boundaries, and allows direct
comparisons between the two plots. }
{©Copyright 2004 Jose Silva
For personal use only.
http://www.metastocktools.com }
{ 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 }
PriceX:=C;
{ Choose x pds or historical Price High/Low }
Hi:=If(pds>1,HHV(PriceX,pds),Highest(PriceX));
Lo:=If(pds>1,LLV(PriceX,pds),Lowest(PriceX));
{ Price normalized to 0~100% }
PriceNorm:=(PriceX-Lo)/Max(Hi-Lo,.000001)*100;
{ Plot 2: Indicator/Oscillator section }
IndX:=MACD();
{ Choose x pds or historical Indicator High/Low}
Hi:=If(pds>1,HHV(IndX,pds),Highest(IndX));
Lo:=If(pds>1,LLV(IndX,pds),Lowest(IndX));
{ Indicator normalized to 0~100% }
IndicatorNorm:=(IndX-Lo)/Max(Hi-Lo,.000001)*100;
{ Plot in own window }
PriceNorm;IndicatorNorm
---8<--------------------------
jose '-)
http://www.metastocktools.com
--- In equismetastock@xxxxxxxxxxxxxxx, stinkerstock <no_reply@xxx> wrote:
>
> Hi folks:
>
> Does anyone know of a way to set a scaling feature into a custom
> indicator?
>
> For example, I've created an indicator that plots a moving average of
> advancing and decling volume. When I plot the indicator, it displays
> what I want except the indicator is rather small in the window because
> for some reason it is scaled improperly.
>
> I know I can change the scale manually by modifying the Y-axis
> proerties or by using a mouse drag...but is there a way to build in
> maximum-minimum values into the indicator itself so I don't have to
> scew around with manual adjustments?
>
> Thanks in advance.
>
> Jim
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