Hello!
This is similiar to the Price Oscillator ( PPO) that you can find in the Technical Analysis: Built ins.
It is just added colors so you can see patterns when the lines( histogram) are crossing , maybe add some alerts when plots are crossing different levels.
I want to say that I´m no expert in this area, I just had an idea about this and wanted to see if it was possible to create an oscillator that in some way explains the power inside, so this is what i come up with.
hope you like, feel free to change
All the best
Patrik
This is similiar to the Price Oscillator ( PPO) that you can find in the Technical Analysis: Built ins.
It is just added colors so you can see patterns when the lines( histogram) are crossing , maybe add some alerts when plots are crossing different levels.
I want to say that I´m no expert in this area, I just had an idea about this and wanted to see if it was possible to create an oscillator that in some way explains the power inside, so this is what i come up with.
hope you like, feel free to change
All the best
Patrik
study("PE_Price_Oscillator") // Created by Patrik Enberg. 20150502 // Updated 20150502 // Patrik_Enberg diff00=close - close[10] diff01=close - close[9] diff02=close - close[8] diff03=close - close[7] diff04=close - close[6] diff05=close - close[5] diff06=close - close[4] diff07=close - close[3] diff08=close - close[2] diff09=close - close[1] diff0=close[1] - close[11] diff1=close[1] - close[10] diff2=close[1] - close[9] diff3=close[1] - close[8] diff4=close[1] - close[7] diff5=close[1] - close[6] diff6=close[1] - close[5] diff7=close[1] - close[4] diff8=close[1] - close[3] diff9=close[1] - close[2] diff10=close[2] - close[12] diff11=close[2] - close[11] diff12=close[2] - close[10] diff13=close[2] - close[9] diff14=close[2] - close[8] diff15=close[2] - close[7] diff16=close[2] - close[6] diff17=close[2] - close[5] diff18=close[2] - close[4] diff19=close[2] - close[3] diff20=close[3] - close[13] diff21=close[3] - close[12] diff22=close[3] - close[11] diff23=close[3] - close[10] diff24=close[3] - close[9] diff25=close[3] - close[8] diff26=close[3] - close[7] diff27=close[3] - close[6] diff28=close[3] - close[5] diff29=close[3] - close[4] diff30=close[4] - close[14] diff31=close[4] - close[13] diff32=close[4] - close[12] diff33=close[4] - close[11] diff34=close[4] - close[10] diff35=close[4] - close[9] diff36=close[4] - close[8] diff37=close[4] - close[7] diff38=close[4] - close[6] diff39=close[4] - close[5] diff40=close[5] - close[15] diff41=close[5] - close[14] diff42=close[5] - close[13] diff43=close[5] - close[12] diff44=close[5] - close[11] diff45=close[5] - close[10] diff46=close[5] - close[9] diff47=close[5] - close[8] diff48=close[5] - close[7] diff49=close[5] - close[6] diff50=close[6] - close[16] diff51=close[6] - close[15] diff52=close[6] - close[14] diff53=close[6] - close[13] diff54=close[6] - close[12] diff55=close[6] - close[11] diff56=close[6] - close[10] diff57=close[6] - close[9] diff58=close[6] - close[8] diff59=close[6] - close[7] diff60=close[7] - close[17] diff61=close[7] - close[16] diff62=close[7] - close[15] diff63=close[7] - close[14] diff64=close[7] - close[13] diff65=close[7] - close[12] diff66=close[7] - close[11] diff67=close[7] - close[10] diff68=close[7] - close[9] diff69=close[7] - close[8] diff70=close[8] - close[18] diff71=close[8] - close[17] diff72=close[8] - close[16] diff73=close[8] - close[15] diff74=close[8] - close[14] diff75=close[8] - close[13] diff76=close[8] - close[12] diff77=close[8] - close[11] diff78=close[8] - close[10] diff79=close[8] - close[9] diff80=close[9] - close[19] diff81=close[9] - close[18] diff82=close[9] - close[17] diff83=close[9] - close[16] diff84=close[9] - close[15] diff85=close[9] - close[14] diff86=close[9] - close[13] diff87=close[9] - close[12] diff88=close[9] - close[11] diff89=close[9] - close[10] diff90=close[10] - close[20] diff91=close[10] - close[19] diff92=close[10] - close[18] diff93=close[10] - close[17] diff94=close[10] - close[16] diff95=close[10] - close[15] diff96=close[10] - close[14] diff97=close[10] - close[13] diff98=close[10] - close[12] diff99=close[10] - close[11] w=diff00+diff10+diff20+diff30+diff40+diff50+diff60+diff70+diff80+diff90 w1=diff01+diff11+diff21+diff31+diff41+diff51+diff61+diff71+diff81+diff91 w2=diff02+diff12+diff22+diff32+diff42+diff52+diff62+diff72+diff82+diff92 w3=diff03+diff13+diff23+diff33+diff43+diff53+diff63+diff73+diff83+diff93 w4=diff04+diff14+diff24+diff34+diff44+diff54+diff64+diff74+diff84+diff94 w5=diff05+diff15+diff25+diff35+diff45+diff55+diff65+diff75+diff85+diff95 w6=diff06+diff16+diff26+diff36+diff46+diff56+diff66+diff76+diff86+diff96 w7=diff07+diff17+diff27+diff37+diff47+diff57+diff67+diff77+diff87+diff97 w8=diff08+diff18+diff28+diff38+diff48+diff58+diff68+diff78+diff88+diff98 w9=diff09+diff19+diff29+diff39+diff49+diff59+diff69+diff79+diff89+diff99 p = plot(w, color=blue, style=histogram, linewidth=2, title="") p1 = plot(w1, color=white, style=histogram, linewidth=2, title="") p2 = plot(w2, color=green, style=histogram, linewidth=2, title="") p3 = plot(w3, color=red, style=histogram, linewidth=2, title="") p4 = plot(w4, color=purple, style=histogram, linewidth=2, title="") p5 = plot(w5, color=maroon, style=histogram, linewidth=2, title="") p6 = plot(w6, color=orange, style=histogram, linewidth=2, title="") p7 = plot(w7, color=lime, style=histogram, linewidth=2, title="") p8 = plot(w8, color=navy, style=histogram, linewidth=2, title="") p9 = plot(w9, color=yellow, style=histogram, linewidth=2, title="")