OPEN-SOURCE SCRIPT
Gioteen-Norm
**Gioteen-Norm: A Versatile Normalization Indicator**
This indicator applies a normalization technique to closing prices, providing a standardized view of price action that can be helpful for identifying overbought and oversold conditions.
**Key Features: **
* **Normalization:** Transforms closing prices into a z-score by subtracting a moving average and dividing by the standard deviation. This creates a standardized scale where values above zero represent prices above the average, and values below zero represent prices below the average.
* **Customizable Moving Average:** Choose from four different moving average methods (SMA, EMA, WMA, VWMA) and adjust the period to suit your trading style.
* **Visual Clarity:** The indicator displays the normalized values as a red line, making it easy to identify potential turning points.
* **Optional Moving Average:** You can choose to display a moving average of the normalized values as a green dashed line, which can help to filter out noise and identify trends.
**Applications:**
* **Overbought/Oversold Identification:** Look for extreme values in the normalized data to identify potential overbought and oversold conditions.
* **Divergence Analysis:** Compare the price action with the normalized values to spot potential divergences, which can signal trend reversals.
* **Trading System Integration:** This indicator can be integrated into various trading systems as a building block for generating trading signals.
**This indicator was a popular tool on the MT4 platform, and now it's available on TradingView!**
**Contact:**
If you have any questions or feedback, feel free to reach out to me at admin@fxcorner.net.
This indicator applies a normalization technique to closing prices, providing a standardized view of price action that can be helpful for identifying overbought and oversold conditions.
**Key Features: **
* **Normalization:** Transforms closing prices into a z-score by subtracting a moving average and dividing by the standard deviation. This creates a standardized scale where values above zero represent prices above the average, and values below zero represent prices below the average.
* **Customizable Moving Average:** Choose from four different moving average methods (SMA, EMA, WMA, VWMA) and adjust the period to suit your trading style.
* **Visual Clarity:** The indicator displays the normalized values as a red line, making it easy to identify potential turning points.
* **Optional Moving Average:** You can choose to display a moving average of the normalized values as a green dashed line, which can help to filter out noise and identify trends.
**Applications:**
* **Overbought/Oversold Identification:** Look for extreme values in the normalized data to identify potential overbought and oversold conditions.
* **Divergence Analysis:** Compare the price action with the normalized values to spot potential divergences, which can signal trend reversals.
* **Trading System Integration:** This indicator can be integrated into various trading systems as a building block for generating trading signals.
**This indicator was a popular tool on the MT4 platform, and now it's available on TradingView!**
**Contact:**
If you have any questions or feedback, feel free to reach out to me at admin@fxcorner.net.
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.