Percentage Price Oscillator Extended (PPO)
Info
The Percentage Price Oscillator Extended (PPO) is a Indicator for MetaTrader 5 that the percentage price oscillator extended (ppo) is a technical momentum indicator that illustrates the relationship between two moving averages. It is calculated by subtracting the 26-day exponential moving average (EMA) from the nine-day EMA and then dividing this difference by the 26-day EMA.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Percentage Price Oscillator Extended (PPO)
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
The Percentage Price Oscillator Extended (PPO) is a technical momentum indicator that illustrates the relationship between two moving averages.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Supply Demand Zones: Identifying Key Price Reaction Areas - another powerful indicator for MetaTrader 5 traders.
The Percentage Price Oscillator Extended (PPO) is a technical momentum indicator that illustrates the relationship between two moving averages. It is calculated by subtracting the 26-day exponential moving average (EMA) from the nine-day EMA and then dividing this difference by the 26-day EMA. This calculation yields a percentage that reveals the position of the short-term average relative to the longer-term average.Also recommended: Extreme Price Filter: Identify and Avoid Market Traps - similar indicator with strong performance on MetaTrader 5.
The formula is as follows:
PPO = ((9-day EMA - 26-day EMA) / 26-day EMA) * 100
Both the PPO and the Moving Average Convergence Divergence (MACD) are momentum indicators that gauge the disparity between the 26-day and nine-day exponential moving averages. The key distinction between these indicators lies in their representation of this difference. The MACD presents the simple difference between the exponential moving averages, while the PPO expresses this difference as a percentage. This percentage representation in the PPO enables traders to more easily compare stocks with varying prices. For instance, a PPO result of 10 consistently indicates that the short-term average is 10% higher than the long-term average, regardless of the stock's price.
You may also like: GDS Renko Liquidity Sweep Lab: Price Action Analysis - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.