PPO (Price Percent Oscillator) for ThinkorSwim

[BenTen]

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.

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

 

[skynetgen]

Ohh since you brought it up. Here is PPO version with divergence and pivot indicators
https://tos.mx/VmatfLU

 

[horserider]

The Mobius version BenTen put up is a SMA version of the PPO. The original PPO formula I believe uses the EMA.
skynetgen uses the EMA PPO formula with interesting additions.

If want a simple PPO displayed https://tos.mx/NCheJqs
If want a daily/weekly PPO it is a ToS study. Search studies for it.

I Believe the Ultimate MACD will give equivalent signals plus more info.

 

[JerryA]

Ohh since you brought it up. Here is PPO version with divergence and pivot indicators
https://tos.mx/VmatfLU

Groovy Indicator! Is there a description somewhere that explains the basis for the signals? Thanks for all you do!

 

[wpwright]

PPO Indicator is missing (1) plot. Indicator has histogram and (1) plot, there is supposed to be a fast line and a slow line (2) line plots. I need the cross over of the line plots for signal generation.

 

[grasshopper123]

I 2nd, 3rd, and 4th a request for PPO indicator like the one on Stock charts.com or freestockcharts.com
Of course I could be doing something wrong but the ones I've tried from here (and yes I adjust the settings as appropriate so they match) give results that differ from each other and the MACD included in TOS.
Thanks in advance

 

[MerryDay]

@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 );

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

 

[MerryDay]

@Geisman Scan for

PlotPH is true

for the up arrows. Scan for

PlotPL is true

for the down arrows.
HTH

 

[MerryDay]

@Geisman
Setting Up The Scanner

Copy the code from the forum
In TOS, in studies, click on Create
Paste the code from the forum
Save the study with the name: PPO_divergence

Click on scan.
Click on +Add filter
Click on the pencil icon next to the filter you just added
Click edit
Click on pull-down window, click add study
Type in PPO_divergence
In the Plot pull-down window, click on PlotPH
In the middle column, choose True
Save

If you have trouble, post a screenshot of where you are hung up. HTH

 

[Geisman]

@Geisman Here is the PPO code that I have... I think I probably got it HERE...

So TOS crashed today and I had to relaunch it. Magically, I now have plot & input dropdown menus when I select the PPO study for a custom scan. Go figure. Who knew my solution was to unplug TOS and plug it back in?

 

[rad14733]

So TOS crashed today and I had to relaunch it. Magically, I now have plot & input dropdown menus when I select the PPO study for a custom scan. Go figure. Who knew my solution was to unplug TOS and plug it back in?

Yes, that was one of the fixes according to https://tlc.thinkorswim.com/center/release/rel-03-06-2021...

 

[matts]

I really like the

@Geisman
Setting Up The Scanner

Copy the code from the forum
In TOS, in studies, click on Create
Paste the code from the forum
Save the study with the name: PPO_divergence

Click on scan.
Click on +Add filter
Click on the pencil icon next to the filter you just added
Click edit
Click on pull-down window, click add study
Type in PPO_divergence
In the Plot pull-down window, click on PlotPH
In the middle column, choose True
Save

If you have trouble, post a screenshot of where you are hung up. HTH

I'm not sure why but my scan is always empty unless I set the parameters to within 3 bars. 2 and 1 bar gets zero results. Please help.

 

[Emrys]

Did you have to set your scan to within 3 bars for it to show any results? I tried scanning for PlotPH less than 3 bars across time frames all come up empty. I don't understand the script enough to know why. Are u able to scan for current PlotPH signals?

Almost the same experience here.
I use 3 bars and add fundamental conditions to narrow down my search results.
Also, stocks tend to action irrationally several days before and after earnings. It is better to avoid them during this period.

 

[thedoc556]

Hello,
Does anyone know how to scan for when the PPO oscillator is at a or below a specific value??
Thank you
Jesse

 

[MerryDay]

@thedoc556
Here is an example of when PPO crosses above 0 to begin trend.
You can change the middle column to greater than, less than, crosses below, etc...
You can change the right column to any value
Shared Scan Link: http://tos.mx/7tShl17 Click here for --> Easiest way to load shared links

 

[bobacash]

Ohh since you brought it up. Here is PPO version with divergence and pivot indicators
https://tos.mx/VmatfLU

Hi Skynetgen,

Does this redraws all the pivot indicators?

 

[MerryDay]

Hi Skynetgen,

Does this redraws all the pivot indicators?

Did you know that clicking on a member's avatar will allow you to see when a member was last seen on the uTS forum? @skynetgen has not been seen in a while.

Recommend you put it on your chart. Nothing beats personal experience The only way you will know what works best for you is to play with the settings and see how the indicator line up w/ your strategy and with your other indicators. To determine if this indicator brings value, analyze it over different timeframes, across history and with multiple instruments.

 

[bobacash]

Did you know that clicking on a member's avatar will allow you to see when a member was last seen on the uTS forum? @skynetgen has not been seen in a while.

Recommend you put it on your chart. Nothing beats personal experience The only way you will know what works best for you is to play with the settings and see how the indicator line up w/ your strategy and with your other indicators. To determine if this indicator brings value, analyze it over different timeframes, across history and with multiple instruments.

Thanks MerryDay,

Yeah, this is a pretty old post already. I will take a look at the script and see if i can understand what it's doing.

Thanks

 

[thedoc556]

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

Thank you very much for your help. Stay safe

 

[thedoc556]

@thedoc556
Here is an example of when PPO crosses above 0 to begin trend.
You can change the middle column to greater than, less than, crosses below, etc...
You can change the right column to any value
Shared Scan Link: http://tos.mx/7tShl17 Click here for --> Easiest way to load shared links

View attachment 1037

Thank you very much for your help. Stay safe