PPO DIVERGENCE ALERTS

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//------------------------------------//
//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 source
longtermdiv = 1  // Boolean to toggle long-term divergences
divlookbackperiod = 55  // Lookback period for divergences
fastlength = 12  // Fast moving average length
slowlength = 26  // Slow moving average length
signallength = 9  // Signal line length for MACD
smoother = 2  // Smoothing factor for PPO
//------------------------------------//
// Calculate PPO
//------------------------------------//
fastMA = average[fastlength,1](source)  // Calculate fast moving average
slowMA = average[slowlength,1](source)  // Calculate slow moving average
mymacd = 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 lows
priceMins = (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 minimum
BottomPointsInPPO = 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 highs
priceMax = (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 maximum
TopPointsInPPO = oscMax  // Store PPO maxima condition
//------------------------------------//
// Store previous troughs and peaks
//------------------------------------//
if oscMins then
lasttrough4 = currenttrough4  // Store previous PPO minimum
currenttrough4 = d[1]  // Update current PPO minimum
endif
if oscMax then
lasttrough5 = currenttrough5  // Store previous PPO maximum
currenttrough5 = d[1]  // Update current PPO maximum
endif
if PriceMins then
prevlowestLow = lowestLow  // Store previous lowest low in price
lasttrough6 = currenttrough6  // Store previous price minimum
currenttrough6 = low[1]  // Update current price minimum
lowestLow = lowest[divlookbackperiod](low)  // Calculate the lowest low over the lookback period
endif
if PriceMax then
PrevHighestHigh = HighestHigh  // Store previous highest high in price
lasttrough7 = currenttrough7  // Store previous price maximum
currenttrough7 = high[1]  // Update current price maximum
HighestHigh = highest[divlookbackperiod](high)  // Calculate the highest high over the lookback period
endif
//------------------------------------//
// Handle delayed lows and highs for PPO filtering
//------------------------------------//
if priceMins AND barssince(oscMins) < 3 then
delayedlow = low[1]  // Store delayed low if PPO minimum happened within the last 3 bars
else
delayedlow = undefined  // Set undefined if condition is not met
endif
if priceMax AND barssince(oscMax) < 3 then
delayedHigh = high[1]  // Store delayed high if PPO maximum happened within the last 3 bars
else
delayedHigh = undefined  // Set undefined if condition is not met
endif

// Filter price minima and maxima within a lookback period
if barssince(priceMins) < 5 then
filter = lowest[4](currenttrough6)  // Filter lowest troughs in price
else
filter = undefined  // Set undefined if condition is not met
endif
if barssince(priceMax) < 5 then
filter2 = highest[4](currenttrough7)  // Filter highest peaks in price
else
filter2 = undefined  // Set undefined if condition is not met
endif
//------------------------------------//
// Update additional values for PPO and price
//------------------------------------//
if oscMins then
y11 = delayedlow  // Assign delayed low when a PPO minimum is identified
y7 = currenttrough4  // Update current PPO minimum
y8 = lasttrough4  // Store previous PPO minimum
y9 = currenttrough6  // Update current price minimum
endif
if oscMax then
y12 = delayedhigh  // Assign delayed high when a PPO maximum is identified
y3 = currenttrough5  // Update current PPO maximum
y4 = lasttrough5  // Store previous PPO maximum
y10 = currenttrough7  // Update current price maximum
endif
if oscMax then
y2 = y2now  // Store the filtered maximum
y2now = filter2  // Update the filtered maximum
endif
if oscMins then
y6 = y6now  // Store the filtered minimum
y6now = filter  // Update the filtered minimum
endif

// Long-term divergence filters
LongTermBullFilt = prevlowestLow  // Store long-term bullish filter (lowest low)
LongtermBearFilt = PrevHighestHigh  // Store long-term bearish filter (highest high)

// Draw bullish and bearish divergence points
if BottomPointsInPPO then
bulldiv = d[1]  // PPO minimum at current bar
drawpoint(barindex[1], bulldiv, 2) coloured("maroon")  // Draw maroon point for PPO bottom
else
bulldiv = undefined
endif

if TopPointsInPPO then
beardiv = d[1]  // PPO maximum at current bar
drawpoint(barindex[1], beardiv, 2) coloured("green")  // Draw green point for PPO top
else
beardiv = undefined
endif

// Divergence logic conditions
i = currenttrough5 < highest[divlookbackperiod](d)  // Check if PPO trough is below the highest over the lookback period
i2 = y10 > LongtermBearFilt  // Check if current price peak is above the long-term bearish filter
i3 = delayedhigh > LongtermBearFilt  // Check if delayed high is above the long-term bearish filter
i4 = currenttrough4 > lowest[divlookbackperiod](d)  // Check if PPO peak is above the lowest over the lookback period
i5 = y9 < LongTermBullFilt  // Check if current price trough is below the long-term bullish filter
i6 = delayedlow < LongTermBullFilt  // Check if delayed low is below the long-term bullish filter
//------------------------------------//
// Divergence drawing conditions
//------------------------------------//
if y10 > y2 AND oscMax AND y3 < y4 then
drawpoint(barindex, d, 5) coloured("orange")  // Draw orange point for bearish divergence
elsif y9 < y6 AND oscMins AND y7 > y8 then
drawpoint(barindex, d, 5) coloured("purple")  // Draw purple point for bullish divergence
elsif delayedhigh > y2 AND y3 < y4 then
drawpoint(barindex, d, 5) coloured("orange")  // Draw orange point for delayed bearish divergence
elsif delayedlow < y6 AND y7 > y8 then
drawpoint(barindex, d, 5) coloured("purple")  // Draw purple point for delayed bullish divergence
elsif longtermdiv AND oscMax AND i AND i2 then
drawpoint(barindex, d, 5) coloured("orange")  // Draw orange point for long-term bearish divergence
elsif longtermdiv AND oscMins AND i4 AND i5 then
drawpoint(barindex, d, 5) coloured("purple")  // Draw purple point for long-term bullish divergence
elsif longtermdiv AND i AND i3 then
drawpoint(barindex, d, 5) coloured("orange")  // Draw orange point for extended bearish divergence
elsif longtermdiv AND i4 AND i6 then
drawpoint(barindex, d, 5) coloured("purple")  // Draw purple point for extended bullish divergence
endif

// Return PPO and zero line for plotting
return d as "PPO" coloured("black"), 0 as "zero" coloured("grey")  // Return PPO value in black and zero line in grey

@Truld1

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