Normalizing indicator value to percent, so threshold works the same across currencies ?
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Hi,
I'm building a indicator using data from several std indicators. Their data is combined in various ways and I end up with a
single variable (array), and from that draw a normalized indicatorline that swings across 0 to some value.
Buy/Sell signal is triggered when a certain absolute deviation from 0 is detected.
On EURUSD the indicator swings within about +/- 10, and a suitable B/S threshold is about 0.5
On GBPJPY the indicator swings within about +/- 800, and a suitable B/S threshold is about 150
On some other pairs the discrepancy can be even worse.
This is obviously less than desirable, or actually useless... I must be able to drop the indicator on
any chart without having to 'recalibrate' it.
Have tried multiplying the threshold with Point and modifying the threshold accordingly... and this
does help somewhat but it still needs finetuning, and on some pairs it is way off.
I figure that if the indicator instead was swinging +/- 100 (percent) the treshold would remain in its
correct location across pairs, and the indicator would then work as expected.
Any ideas?