Percent Volume Oscillator(by ucsgears)

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A good measure to see how excited the herd is, before chasing a move. Very Useful when trading explosive stocks like, FNMA             , PLUG, USU. I use this to filter when not to chase. Once you get familiar with this. You can trade the stocks with just Volume and Price.
Also a good filter on how good a breakout is.

Further Reading - http://tinyurl.com/knzn4p9 (Stockcharts - Chart School)
List of All my Indicators - https://www.tradingview.com/p/stocks/?sort=recent&time=day&by=ucsgears
Good Luck
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// Created by UCSgears, Based on the Percent Price Oscillator (PPO)

study("Advanced Percent Volume Oscillator", shorttitle="UCS_PVO", overlay=false)
src = volume
shortlen=input(21, minval=1, title="Primary Length") 
longlen=input(55, minval=1, title="Base Length")
smooth=input(13, minval=1, title="Signal Length")

short = ema(src, shortlen)
long = ema(src, longlen)
ppo = ((short - long)/long)*100
sig = ema(ppo,smooth)

plot(ppo, title="PPO", color=aqua)
plot(sig, title="signal", color=orange)
plot(ppo-sig,color=#FF006E,style=histogram, color=gray, linewidth = 3)
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