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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.


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