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 centerline. Signals are generated with signal line crossovers, centerline crossovers, and...
I sum up SMI(Stochastic Momentum Index) + PPO divergence for just private using.
green : oversold
red : overbought
skyblue & purple : buy signal
red & orange : sell signal
SMI green sign with PPO buy signal has more reliability.
Likewise SMI red sign with PPO sell signal has more reliability, too.
Works pretty decently as a scalping strategy with 0.25 risk to reward ratio, improves drastically if you combine with other indicators
Credits goes to other PPO divergence indicators, I just recoded this one to be a visual overlay