Wow, thanks for all the replies, everyone! This is super helpful. I tried normalizing RSI and MACD like some of you suggested, and it definitely makes the chart cleaner. I’m still getting the hang of spotting divergences, but it’s starting to make sense.
I also checked out the thinkorswim community library and found a script that overlays normalized indicators. Gonna test it out in paper trading first, though.
One quick follow-up: does anyone use the thinkorswim normalize function with volume-based indicators? Like, does it work well with OBV or volume-weighted stuff? Just curious if it’s worth trying.
Thanks again!
I also checked out the thinkorswim community library and found a script that overlays normalized indicators. Gonna test it out in paper trading first, though.
One quick follow-up: does anyone use the thinkorswim normalize function with volume-based indicators? Like, does it work well with OBV or volume-weighted stuff? Just curious if it’s worth trying.
Thanks again!