New Members: Be sure to confirm your email address by clicking on the link that was sent to your email inbox. You will not be able to post messages until you click that link.

PPO crossover scan

Hi,

I am trying to create a scan that picks up when the black line crosses the redline from under to over using the PPO indicator.
Attached screenshot.
Any help is appreciated as I cannot seem to figure out how to create that scan.

Thank you.

Comments

  • lmkwinlmkwin ✭✭
    edited March 13
    that would be a PPO Signal or PPO Hist. They are in the Technical Indicators Dropdown.

    A tremendous resource on the scanning and indicators is available in StockCharts.com ChartSchool. They even include sample scans on many of the topics. Go to the magnifier glass in the upper right and type in your term. Then go to ChartSchool Articles.

    https://school.stockcharts.com/doku.php?id=technical_indicators:price_oscillators_ppo

  • I agree w/ lmkwin's advice to make good use of the documentation resources - it's worth a few hours over a couple of weekends to explore what's available, just to know where you can find things or look for ideas.

    On the PPO crossover article, I think the code example was written before the "x" (crossover) operator was added to the scan language, so you could just write PPO Line x PPO Signal (with proper syntax - which you can get from the Technical Indicators dropdown, as lmkwin pointed out).

    Looking at some charts with PPO, it seems like false positives (crossovers that don't turn into up legs) could be a problem. You might be able to filter out some false positives by testing PPO Hist for some level of movement below zero before the crossover, and some level of movement above 0 after the crossover - maybe

    and [1 day ago min(5, PPO Hist(12,26,9)) < -1]
    and [PPO Hist(12,26,9) > .75]

    You could change the "-1" and ".75" to other values - larger and smaller - to see what works best. No matter what you do, you will miss some good opportunities with a filter, so its a trade-off when you try to limit false positives. But if the positive hit rate improves, its probably worth it.

    You could also use PPO Hist for the crossover, instead of Line and Signal, e.g.

    and [PPO Hist(12,26,9) x 0]

  • lmkwinlmkwin ✭✭
    When you hit the magnifier and put in your search term. You can also select from the dropdown at the top, "Blog Articles". This will call up StockCharts blog authors that used the indicator you searched for in their article.

    On the PPO, a very good set of articles by Tom Bowley in the past week or so.
  • Thank you both. New to stockcharts.com. Spent some time last night reviewing Chart School. That along with your comments have really helped me get on my way.
Sign In or Register to comment.