I reached this with a little trick: I devided it by ATR. This way it is most of the time inside the -1..1 range. It depends on the length of the ATR's period. If it is greater, the probability of outliers is greater. With this indicator you can use cerain levels of MACD and its histogram as a trigger.
Tried this, just OK. Dema Macd is significantly superior you should give it a try.
gwolfgk
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How can I use this Scrip?
TheBacktestGuy
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@gwolfgk, Just add it to your chart, and use it if you found it useful. It is much like MACD and PPO, you can use it the same way, but it is a little different because of the ATR.