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How to combine 2 indicators with different values into one custom indicator?

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Man
39
Man  

Hi everyone,

How can one calculate the buffer value for a custom indicator that displays 2 indicators with different values (stochastic which has value of 0-100 and OsMA which has value of -0.00x to +0.00x), as if like adding 2 indicators in one indicator window (picture below)?



Mladen Rakic
71113
Mladen Rakic  
Man:

Hi everyone,

How can one calculate the buffer value for a custom indicator that displays 2 indicators with different values (stochastic which has value of 0-100 and OsMA which has value of -0.00x to +0.00x), as if like adding 2 indicators in one indicator window (picture below)?



You can not do that - one would look like a flat line
whroeder1
17122
whroeder1  
Man: How can one calculate the buffer value for a custom indicator that displays 2 indicators with different values (stochastic which has value of 0-100 and OsMA which has value of -0.00x to +0.00x), as if like adding 2 indicators in one indicator window (picture below)?
  1. Scale them to a common range. stoch [0..100]: OsMAlow = lowest for the last 40 bars. OsMAhigh = highest. OsMaScaled  = (OsMA - OsMAlow) / (OsMAhigh - OsMAlow) [0..100]
  2. Don't combine them, use the geometric mean
    A geometric mean is often used when comparing different items—finding a single "figure of merit" for these items—when each item has multiple properties that have different numeric ranges Geometric mean - Wikipedia
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