Standardized Median Proximity

📈 Median Tracking: At the core of this indicator is the calculation of the median price over a specified lookback period. By evaluating the current price against this median, the indicator provides a sense of whether the price is trending above or below its recent median value. 🌡️ Normalization of Price Deviation: The deviation of the price from the median is normalized using standard deviation, ensuring that the indicator's readings are consistent and comparable across different time frames and instruments. 📌 Boundary Calculations: The indicator sets upper and lower boundaries based on the normalized values, helping to identify overbought and oversold conditions. 🎨 Visual Appeal and Clarity: With carefully chosen colors, the plots provide an intuitive and clear representation of market states. Rising trends are indicated in a shade of green, while falling trends are shown in red. 🚨 Alert Conditions: Stay ahead of market movements with customizable alerts for trend shifts and impulse signals, enabling timely decisions. alertcondition(ta.crossover(normalizedValue, 0),