Percentage Price Oscillator (PPO)
The Percentage Price Oscillator (PPO) is similar to the MACD in that it calculates the difference between two moving averages, but the key difference is that the PPO calculates the percentage difference, not the MACD’s absolute difference.
To add the tool to your chart, select the tool from the Averages tool group, and left-click on the chart to add the tool. Optuma will then draw the tool in a window below the chart using the default settings.
Scripting Function: PPO()
PPO() CrossesAbove 0
Actions & Properties
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple PPO tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other PPO tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new PPO to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.
Calc Style: This option allows you to change the type of calculation used by the Moving Averages (which the tool calculates from). The calculation options are Exponential, Simple, Weighted, Smoothed, Modified or McGinley.
Calc Using: The tool uses a Moving Average in its calculations. This option is used to determine which components of the data are used in calculating the Moving Average. You can choose from Open Price, Closed Price, High Price, Low Price, HL (High + Low / 2), HLC (High + Low + Close / 3), OHLC (Open + High + Low + Close / 4), OC (Open + Close / 2).
MA Bar 1: The number of bars that are averaged in the fast moving average for the base oscillator.
MA Bar 2: The number of bars that are averaged in the slow moving average for the base oscillator.
Average: The number of bars that are averaged over the oscillator.
Centre Line Style: Expands to display the properties of the centre line, such as colour, width, and transparency.
Average: Expands to display the plot style properties of the Average line, such as colour, width, and transparency.
Oscillator: Expands to display the plot style properties of the Oscillator linesuch as colour, width, and transparency.
Histogram: Expands to display the plot style properties of the Histogram,such as colour, width, and transparency.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show in Price Scale: When selected, the current PPO values will be displayed in the Price Scale.
Lock Tool: When selected, any changes to the tool will be prevented from being made.