OPEN-SOURCE SCRIPT

Percentage Price Oscillator

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The Percentage Price Oscillator (PPO) is a momentum oscillator that measures the difference between two moving averages as a percentage of the larger moving average. As with its cousin, MACD, the Percentage Price Oscillator is shown with a signal line, a histogram and a center line. Signals are generated with signal line crossovers, center line crossovers, and divergences. More info here and here.

The indicator allows you to change the type of all moving averages (Simple, Exponential, Weighted, Volume-weighted, Triple EMA or a moving average that uses RSI ). The indicator also allows you to volume weight it(turned on by default), which will turn it into an indicator very similar to the Volume-Weighted Moving Average Convergence Divergence (VW-MACD) first used by Buff Pelz Dormeier in 2002 and described in detail in his book "Investing with Volume Analysis: Identify, Follow, and Profit from Trends". If you want to weight the oscillator against the true range instead of volume this is also possible. By default, this will be done automatically for assets that do not support volume. By checking the box "MACD" you can also turn this indicator into a standard MACD indicator.
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Update to Pine Script Version 4 and add resolution to study.
Moving Average Convergence / Divergence (MACD)OscillatorsPrice Oscillator (PPO)

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在真正的TradingView精神中,這個腳本的作者以開源的方式發佈,這樣交易員可以理解和驗證它。請向作者致敬!您可以免費使用它,但在出版物中再次使用這段程式碼將受到網站規則的約束。 您可以收藏它以在圖表上使用。

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