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Is it possible to create your own (fairly simple) technical indicator?

I want to divide the 2-day EMA Force Index, Force(2) by the previous period's (I.E. yesterday's) Close.
Force Index Percentage = Volume of Current Period x (Close of Current Period - Close of Previous Period) / Close of Previous Period.
This is similar in concept to using the PPO instead of the MACD. An effort to normalize the technical indicator across multiple stocks with varying prices.

Answers

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