PPO DIVERGENCE ALERTS
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123456789101112131415161718192021222324252627282930313233343536373839404142434445464748495051525354555657585960616263646566676869707172737475767778798081828384858687888990919293949596979899100101102103104105106107108109110111112113114115116117118119120121122123124125126127128129130131132133134135136137138139140141142143144145146147148149150151152153154155156157158159160161162163//------------------------------------////PRC_PPO divergence//version = 0//19.09.24//Iván González @ www.prorealcode.com//Sharing ProRealTime knowledge//------------------------------------////-----Inputs-------------------------////------------------------------------//source = close // Using the closing price as the data sourcelongtermdiv = 1 // Boolean to toggle long-term divergencesdivlookbackperiod = 55 // Lookback period for divergencesfastlength = 12 // Fast moving average lengthslowlength = 26 // Slow moving average lengthsignallength = 9 // Signal line length for MACDsmoother = 2 // Smoothing factor for PPO//------------------------------------//// Calculate PPO//------------------------------------//fastMA = average[fastlength,1](source) // Calculate fast moving averageslowMA = average[slowlength,1](source) // Calculate slow moving averagemymacd = fastMA - slowMA // MACD calculation (difference between fast and slow MA)macd2 = mymacd / slowMA * 100 // Convert MACD to PPO (percentage form)d = average[smoother](macd2) // Apply smoothing to the PPO value//------------------------------------//// Identify price bottoms and plateaus//------------------------------------//bullishPrice = low // Use the low of the price to identify bottoms// Conditions to detect price bottoms using multiple previous lowspriceMins = (bullishPrice > bullishPrice[1] AND bullishPrice[1] < bullishPrice[2]) OR(low[1] = low[2] AND low[1] < low AND low[1] < low[3]) OR(low[1] = low[2] AND low[1] = low[3] AND low[1] < low AND low[1] < low[4]) OR(low[1] = low[2] AND low[1] = low[3] AND low[1] = low[4] AND low[1] < low AND low[1] < low[5])// Identify bottoms in the PPO (oscillator minima)oscMins = d > d[1] AND d[1] < d[2] // Check if PPO forms a local minimumBottomPointsInPPO = oscMins // Store PPO minima condition//------------------------------------//// Identify price tops and plateaus//------------------------------------//bearishPrice = high // Use the high of the price to identify tops// Conditions to detect price tops using multiple previous highspriceMax = (bearishPrice < bearishPrice[1] AND bearishPrice[1] > bearishPrice[2]) OR(high[1] = high[2] AND high[1] > high AND high[1] > high[3]) OR(high[1] = high[2] AND high[1] = high[3] AND high[1] > high AND high[1] > high[4]) OR(high[1] = high[2] AND high[1] = high[3] AND high[1] = high[4] AND high[1] > high AND high[1] > high[5])// Identify tops in the PPO (oscillator maxima)oscMax = d < d[1] AND d[1] > d[2] // Check if PPO forms a local maximumTopPointsInPPO = oscMax // Store PPO maxima condition//------------------------------------//// Store previous troughs and peaks//------------------------------------//if oscMins thenlasttrough4 = currenttrough4 // Store previous PPO minimumcurrenttrough4 = d[1] // Update current PPO minimumendifif oscMax thenlasttrough5 = currenttrough5 // Store previous PPO maximumcurrenttrough5 = d[1] // Update current PPO maximumendifif PriceMins thenprevlowestLow = lowestLow // Store previous lowest low in pricelasttrough6 = currenttrough6 // Store previous price minimumcurrenttrough6 = low[1] // Update current price minimumlowestLow = lowest[divlookbackperiod](low) // Calculate the lowest low over the lookback periodendifif PriceMax thenPrevHighestHigh = HighestHigh // Store previous highest high in pricelasttrough7 = currenttrough7 // Store previous price maximumcurrenttrough7 = high[1] // Update current price maximumHighestHigh = highest[divlookbackperiod](high) // Calculate the highest high over the lookback periodendif//------------------------------------//// Handle delayed lows and highs for PPO filtering//------------------------------------//if priceMins AND barssince(oscMins) < 3 thendelayedlow = low[1] // Store delayed low if PPO minimum happened within the last 3 barselsedelayedlow = undefined // Set undefined if condition is not metendifif priceMax AND barssince(oscMax) < 3 thendelayedHigh = high[1] // Store delayed high if PPO maximum happened within the last 3 barselsedelayedHigh = undefined // Set undefined if condition is not metendif// Filter price minima and maxima within a lookback periodif barssince(priceMins) < 5 thenfilter = lowest[4](currenttrough6) // Filter lowest troughs in priceelsefilter = undefined // Set undefined if condition is not metendifif barssince(priceMax) < 5 thenfilter2 = highest[4](currenttrough7) // Filter highest peaks in priceelsefilter2 = undefined // Set undefined if condition is not metendif//------------------------------------//// Update additional values for PPO and price//------------------------------------//if oscMins theny11 = delayedlow // Assign delayed low when a PPO minimum is identifiedy7 = currenttrough4 // Update current PPO minimumy8 = lasttrough4 // Store previous PPO minimumy9 = currenttrough6 // Update current price minimumendifif oscMax theny12 = delayedhigh // Assign delayed high when a PPO maximum is identifiedy3 = currenttrough5 // Update current PPO maximumy4 = lasttrough5 // Store previous PPO maximumy10 = currenttrough7 // Update current price maximumendifif oscMax theny2 = y2now // Store the filtered maximumy2now = filter2 // Update the filtered maximumendifif oscMins theny6 = y6now // Store the filtered minimumy6now = filter // Update the filtered minimumendif// Long-term divergence filtersLongTermBullFilt = prevlowestLow // Store long-term bullish filter (lowest low)LongtermBearFilt = PrevHighestHigh // Store long-term bearish filter (highest high)// Draw bullish and bearish divergence pointsif BottomPointsInPPO thenbulldiv = d[1] // PPO minimum at current bardrawpoint(barindex[1], bulldiv, 2) coloured("maroon") // Draw maroon point for PPO bottomelsebulldiv = undefinedendifif TopPointsInPPO thenbeardiv = d[1] // PPO maximum at current bardrawpoint(barindex[1], beardiv, 2) coloured("green") // Draw green point for PPO topelsebeardiv = undefinedendif// Divergence logic conditionsi = currenttrough5 < highest[divlookbackperiod](d) // Check if PPO trough is below the highest over the lookback periodi2 = y10 > LongtermBearFilt // Check if current price peak is above the long-term bearish filteri3 = delayedhigh > LongtermBearFilt // Check if delayed high is above the long-term bearish filteri4 = currenttrough4 > lowest[divlookbackperiod](d) // Check if PPO peak is above the lowest over the lookback periodi5 = y9 < LongTermBullFilt // Check if current price trough is below the long-term bullish filteri6 = delayedlow < LongTermBullFilt // Check if delayed low is below the long-term bullish filter//------------------------------------//// Divergence drawing conditions//------------------------------------//if y10 > y2 AND oscMax AND y3 < y4 thendrawpoint(barindex, d, 5) coloured("orange") // Draw orange point for bearish divergenceelsif y9 < y6 AND oscMins AND y7 > y8 thendrawpoint(barindex, d, 5) coloured("purple") // Draw purple point for bullish divergenceelsif delayedhigh > y2 AND y3 < y4 thendrawpoint(barindex, d, 5) coloured("orange") // Draw orange point for delayed bearish divergenceelsif delayedlow < y6 AND y7 > y8 thendrawpoint(barindex, d, 5) coloured("purple") // Draw purple point for delayed bullish divergenceelsif longtermdiv AND oscMax AND i AND i2 thendrawpoint(barindex, d, 5) coloured("orange") // Draw orange point for long-term bearish divergenceelsif longtermdiv AND oscMins AND i4 AND i5 thendrawpoint(barindex, d, 5) coloured("purple") // Draw purple point for long-term bullish divergenceelsif longtermdiv AND i AND i3 thendrawpoint(barindex, d, 5) coloured("orange") // Draw orange point for extended bearish divergenceelsif longtermdiv AND i4 AND i6 thendrawpoint(barindex, d, 5) coloured("purple") // Draw purple point for extended bullish divergenceendif// Return PPO and zero line for plottingreturn d as "PPO" coloured("black"), 0 as "zero" coloured("grey") // Return PPO value in black and zero line in grey1 user thanked author for this post.
Mi spiace pensavo di fare cosa gradita scrivendo nella lingua dell’autore.
In questo caso rinnovo i miei personali ringraziamenti. Un ottimo lavoro
1 user thanked author for this post.
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