MACD/Stochastics Panel

[tlove2017]

Does anybody know of an available indicator or a way to adapt an existing one that will allow me to plot a MACD and Stochastics on the same panel. Essentially the MACD will go through some sort of normalization that will allow the histogram (both below and above its zero line) to be plotted on the 0-100 Stochastics panel. Any ideas here would be great. Thanks a lot!!!

[NinjaTrader_ChelseaB]

Hello tlove2017,

You can set any indicator to any panel.

Right-click the chart -> select the active indicator -> set Panel to the panel number you want.

If you are wanting these to have their own scales so that one does not appear squished, set one of the indicators Scale Justification to Left or Overlay.

If you are not looking to have two indicators share a plot, or if there something specific that is unwanted behavior, please let us know what this specific behavior is.

[Harry]

Does anybody know of an available indicator or a way to adapt an existing one that will allow me to plot a MACD and Stochastics on the same panel. Essentially the MACD will go through some sort of normalization that will allow the histogram (both below and above its zero line) to be plotted on the 0-100 Stochastics panel. Any ideas here would be great. Thanks a lot!!!

The problem here is that the Stochastics is a normalized indicator, whereas the MACD is not normalized but depends on the momentun scale. Therefore you would either

-> need to normalize the MACD in a way that it adjusts to the scale of the Stochastics
-> or you can normalize both oscillator in a similar fashion, for example by calculating the z-score

The first approach could for example lead you to build a Stochastic MACD. The second approach is more universal, as it can be applied to any oscillator.