PPO (Price Percent Oscillator) for ThinkorSwim

[BenTen]

Hi BenTen: As you know ToS "canned" indicators based on a type of average require a period "length" defined as a number of "bars". Chart bars are specified in "timeframe". As the user changes the chart timeframe, the moving averages change.
I prefer to chart a fixed time duration(s) for all indicators so the average remains a similar "filter bandwidth" and use different timeframes to zoom across various time periods. For example fix exponential moving average "length" with the following statement
expaverage (close (period=aggregationperiod.day), length=XXX) where xxx is specified to be 21, 50, 200.

I would like to modify PPO script to utilize fixed aggregation periods such as PPO(5,21,3) for nfast = 5 days, nslow=21days, and nsmooth=3days. I will also create PPO studies for (21,50,9) and PPO(120,200,50).

Does this make sense?
Thanks!

Try this and let me know if this is what you're looking for.

The timeframe is set to Hourly but you can change it to whatever timeframe you want from the indicator's settings.

# PPO
# Mobius
# V01.03.2014

declare lower;

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

plot PPO = ((MovingAverage(AverageType = AvgType, close(period = Period), nFast) -
             MovingAverage(AverageType = AvgType, close(period = Period), nSlow)) /
             MovingAverage(AverageType = AvgType, close(period = Period), 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

 

[mcrahan]

Try this and let me know if this is what you're looking for.

The timeframe is set to Hourly but you can change it to whatever timeframe you want from the indicator's settings.

# PPO
# Mobius
# V01.03.2014

declare lower;

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

plot PPO = ((MovingAverage(AverageType = AvgType, close(period = Period), nFast) -
             MovingAverage(AverageType = AvgType, close(period = Period), nSlow)) /
             MovingAverage(AverageType = AvgType, close(period = Period), 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

Wow, thank you BenTen!!! I will test this and revert with feedback. All the best!
Marcus Crahan

 

[antwerks]

@BenTen and I have worked on this one before - he has done a bang-up job with this one. I made some changes (sorry BenTen if I messed it up) that goes along with my other indicators. I don't like my Oscillators to be contradicting price action trend unless it is predicting. I added some color changes on the bars to denote momentum changes and arrows for ICT style "break of structures or change of character in a way. Plus, the time frame changes as the chart changes, so you won't have to go into the set-up page and alter the timeframe every time. https://tos.mx/!57rZ0Bjk

https://imgur.com/jDdVoRF

 

[mcrahan]

@BenTen thank you for your constant aggregation period version of PPO indicator. It works! Histogram gets a best messy with short time period candles. The maths are correct, display is a function of "time zoom effect".

@antwerks, thanks for your effort also. I noticed your edits in the basic PPO and had intended to integrate @BenTen's constant aggregation period version into your version. Looks like you "beat me to the punch". I will try this today and revert with feedback!
Thank you both very much (very green to ToS script use).
Marcus Crahan