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 [e-mail].