Percentage Volume Oscillator for ThinkorSwim


Staff member
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:


thinkScript Code

# Percent Volume Oscillator
# Assembled by BenTen at
# Converted from

declare lower;

input src = volume;
input shortlen = 21;
input longlen = 55;
input smooth = 13;

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

plot pp = ppo;
plot signal = sig;
plot histogram = ppo - sig;


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No need for a new study. If you have a good PPO study just go in the settings and change close to volume.

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