TheLark

FREE INDICATOR, aPPO: (ADVANCED) PRICE PERCENTAGE OSCILLATOR

1253 4 108
This is a re-up of my original post a couple of days ago, I made a slight change to the scaling and wanted to make sure you all got the new code!

I felt the PPO offered here was a bit basic, so turned it more into the MACD's look and feel, except this is fully customizable through the options menu for non-coders to make it look exactly as they wish.

To use the code simply click the arrow in the upper right and click "make it mine".
Alternatively you can grab the source here: http://pastebin.com/YRtTXE84
Copy and past the code into a new script, removing the default text it gives.

Feel free to leave a comment below if you like it, have a question, or idea!
¸.·´¯`·.´¯`·.¸¸.·´¯`·.¸ If you like the latest in indicators be sure to follow me, more scripts coming soon! ¸.·´¯`·.´¯`·.¸¸.·´¯`·.¸
Remove from Favorite Scripts Add to Favorite Scripts
study(title="Advanced Percentage Price Oscillator", shorttitle="Advanced PPO")

//•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•//   
//                                             //
//           ADVANCED PPO BY THELARK           //
//                 ~ 2-10-14 ~                 //
//                                             //
//                     •/•                     //
//                                             //
//    https://www.tradingview.com/u/TheLark    //
//                                             //
//•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•//

src = close
shortlen=input(9, minval=1, title="Short Length") 
longlen=input(26, minval=1, title="Long Length")
dosig=input(true,title="Show Signal?")
dohist=input(true,title="Show Histogram?")
smooth=input(9, minval=1, title="Signal Smoothing")

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

plot(ppo, title="PPO", color=#0094FF)
plot(dosig?sig:na, title="signal", color=#FA6901)
plot(dohist?ppo-sig:na,color=#FF006E,style=histogram )
KPEI
2 years ago
Neat indicator, Can you tell us a bit of what's special about this indicator?
Reply
TheLark PRO KPEI
2 years ago
Sure! This is actually pretty simple, it is PPO styled as a typical MACD. PPO and MACD are fairly similar indicators, but some people prefer the PPO calculation because they feel it gives better signals across different underline symbols, without having to change the default settings. This is because the MACD is more of a raw number derived from the difference of a fast and slow moving average. The PPO is the percentage difference between two MA's.

TradingView's version of PPO is a single line, here I've added a signal line (default's to a 9ema of PPO), and a histogram, which is the difference between the PPO and the signal.
Reply
Omin
2 years ago
I love this indicator! I started integrating MACD to my trades and I think I will replace it with this. Thanks for sharing!
Reply
Shuuro
a year ago
Thanks. A good improvement on the standard MACD. To learn more about PPO go to stockcharts.com http://stockcharts.com/school/doku.php?st=ppo&id=chart_school:technical_indicators:price_oscillators_ppo
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out