PPO (Price Percent Oscillator) for ThinkorSwim

[JRAY]

@grasshopper123 @wpwright I did was a simple google search, I am assuming that you did also and already saw this Easycator PPO w/ fast and slow lines and it wasn't what you wanted.

However here it is for anyone in the future that has this request:

#
# TD Ameritrade IP Company, Inc. (c) 2007-2016
#
## created by North Vanhooser

declare lower;

input fastPeriod   = 12;
input slowPeriod   = 26;
input signalPeriod = 9;
input price        = close;

def fastEma   = ExpAverage( price, fastPeriod );
def slowEma   = ExpAverage( price, slowPeriod );
def periodOK  = fastPeriod < slowPeriod;
AddLabel( !periodOK, "ERROR: fastPeriod MUST be less than slowPeriod" );
def _ppo      = if periodOK then ((fastEma - slowEma) / slowEma) * 100 else 0;
def _signal   = ExpAverage( _ppo, signalPeriod );

plot Ppo      = _ppo;
Ppo.SetDefaultColor( Color.BLUE );
Ppo.HideBubble();

plot PpoEma   = _signal;
PpoEma.SetDefaultColor( Color.CYAN );
PpoEma.HideBubble();

plot zeroLine = 0;
zeroLine.HideBubble();
zeroLine.AssignValueColor( Color.BLACK );

plot PpoH1    = _ppo - _signal;
PpoH1.SetPaintingStrategy( PaintingStrategy.HISTOGRAM );
PpoH1.DefineColor("Up", Color.UPTICK);
PpoH1.DefineColor("Down", Color.DOWNTICK);
PpoH1.DefineColor("Flat", Color.GRAY);
PpoH1.AssignValueColor( if PpoH1 > PpoH1[1] then
                           PpoH1.Color("Up")
                       else
                         if PpoH1 < PpoH1[1] then
                           PpoH1.Color("Down")
                       else
                           PpoH1.Color("Flat"));
PpoH1.HideBubble();
PpoH1.SetLineWeight( 3 );

View attachment 2001

Here is the shared link: http://tos.mx/zQ6P90

Thanks for sharing. Is it possible to add bullish/bearish arrows each time PPO (1) crosses above/below EMA (2) or when PPOH1 changes color from Down to UP (bullish) or from UP to Down (Bearish)? essentially , there will be two different set of arrows. (PPO/EMA) and PPOH1 UP/DOWN color change. Thanks again. Here is the shared link that indicator: http://tos.mx/zQ6P90

 

[csricksdds]

The Percentage Price Oscillator (PPO) is similar to Moving Average Convergence Divergence (MACD).
They are both momentum indicators used to gauge the strength and direction of a trend in a stock's price. Many times, they present with the same signals.

The PPO is considered superior in that the PPO is expressed as a percentage, making it easier to compare across different stocks and timeframes. Whereas the MACD has little comparitive value.

View attachment 5664

This script for ToS was created by Mobius.

thinkScript Code

# PPO
# Mobius
# V01.03.2014

declare lower;

input c = close;
input AvgType = AverageType.Simple;
input nFast = 8;
input nSlow = 13;
input nSmooth = 5;

plot PPO = ((MovingAverage(AverageType = AvgType, c, nFast) -
             MovingAverage(AverageType = AvgType, c, nSlow)) /
             MovingAverage(AverageType = AvgType, c, nSlow));
PPO.SetPaintingStrategy(PaintingStrategy.Histogram);
PPO.AssignValueColor(if PPO > 0
                     then color.green
                     else color.red);

plot smooth = MovingAverage(AverageType = AvgType, PPO, nSmooth);
smooth.SetPaintingStrategy(PaintingStrategy.Line);
smooth.SetDefaultColor(Color.Cyan);
# End Code PPO

Shareable Link

https://tos.mx/hv8hVf

Nice oscillator