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Fun with PPO Lines plotted as Histograms Rate this Topic:
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Al_Gorithm
Posted : Tuesday, February 05, 2019 1:15:44 PM

Gold Customer Gold Customer

Joined: 6/30/2017
Posts: 1,227

Happy Tuesday Bruce,

I've been using the EMA 3 and EMA 8 a lot lately on charts, along with conditions & PCFs comparing their relative position to one another. 

I have pretty much what I need for scanning, but ...

... as a visual aid on a chart (for the "eyeball scan" lol) I thought it might be helpful to take a PPO Line with a Short Period of 3 and a Long Period of 8, and plot it as a Histogram. Even better, it would have four colors.

Doable?

Bruce_L
Posted : Tuesday, February 05, 2019 1:40:10 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

Start by adding the Price Percent Oscillator (PPO) indicator to the charts and adjust its settings as follows.

- Plot Style: Histogram
- Plot Color: Up to You.
- Negative Value Color: Checked, Color: Up to you.
- Short Period: 3
- Long Period: 8
- Average Type: Exponential

Now overlay a Custom PCF Indicator into the same pane and scale as the PPO using the following settings.

- Plot Style: Histogram
- Plot Color: Up to you.
- Negative Value Color: Check, Color: Up to you.
- Period: 1
- Average Type: Doesn't matter (because the Period is 1).
- Formula: IIF(XAVGC3 / XAVGC8 < XAVGC3.1 / XAVGC8.1, 100 * (XAVGC3 / XAVGC8 - 1), 1 / 0)
- Label: Down


-Bruce
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Al_Gorithm
Posted : Tuesday, February 05, 2019 4:29:39 PM

Gold Customer Gold Customer

Joined: 6/30/2017
Posts: 1,227

Awesome. Makes sense. Will try tonight. Thanks, Bruce!

Bruce_L
Posted : Tuesday, February 05, 2019 4:31:04 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

You're welcome.



-Bruce
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