Percentage Price Oscillator (PPO)

// Licensed under the Apache License, Version 2.0
// © mihakralj
//@version=6
indicator("Percentage Price Oscillator (PPO)", "PPO", overlay=false)

//@function Calculates Percentage Price Oscillator using compensated EMAs
//@param src Source series to calculate PPO for
//@param fast_len Fast EMA period
//@param slow_len Slow EMA period
//@param signal_len Signal line period
//@returns Tuple containing PPO line and signal line values
ppo(series float src, simple int fast_len, simple int slow_len, simple int signal_len)=>
    if fast_len<=0 or slow_len<=0 or signal_len<=0
        runtime.error("Lengths must be greater than 0")
    if fast_len>=slow_len
        runtime.error("Fast length must be less than slow length")
    float alpha_fast = 2.0/math.max(fast_len,1)
    var float fast_ema = na, var float fast_result = na
    var float fast_e = 1.0, var bool fast_warmup = true
    float alpha_slow = 2.0/math.max(slow_len,1)
    var float slow_ema = na, var float slow_result = na
    var float slow_e = 1.0, var bool slow_warmup = true
    float alpha_signal = 2.0/math.max(signal_len,1)
    var float signal_ema = na, var float signal_result = na
    var float signal_e = 1.0, var bool signal_warmup = true
    if not na(src)
        if na(fast_ema)
            fast_ema := 0.0
            fast_result := src
        else
            fast_ema := alpha_fast*(src-fast_ema)+fast_ema
            if fast_warmup
                fast_e *= (1-alpha_fast)
                float fast_c = 1.0/(1.0-fast_e)
                fast_result := fast_c*fast_ema
                if fast_e<=1e-10
                    fast_warmup := false
            else
                fast_result := fast_ema
        if na(slow_ema)
            slow_ema := 0.0
            slow_result := src
        else
            slow_ema := alpha_slow*(src-slow_ema)+slow_ema
            if slow_warmup
                slow_e *= (1-alpha_slow)
                float slow_c = 1.0/(1.0-slow_e)
                slow_result := slow_c*slow_ema
                if slow_e<=1e-10
                    slow_warmup := false
            else
                slow_result := slow_ema
    float ppo_line = 100 * (fast_result - slow_result) / slow_result
    if not na(ppo_line)
        if na(signal_ema)
            signal_ema := 0.0
            signal_result := ppo_line
        else
            signal_ema := alpha_signal*(ppo_line-signal_ema)+signal_ema
            if signal_warmup
                signal_e *= (1-alpha_signal)
                float signal_c = 1.0/(1.0-signal_e)
                signal_result := signal_c*signal_ema
                if signal_e<=1e-10
                    signal_warmup := false
            else
                signal_result := signal_ema
    float hist = ppo_line - signal_result
    [ppo_line, signal_result, hist]

// ---------- Main loop ----------

// Inputs
i_source = input.source(close, "Source")
i_fast_len = input.int(12, "Fast Length", minval=1)
i_slow_len = input.int(26, "Slow Length", minval=1)
i_signal_len = input.int(9, "Signal Length", minval=1)

// Calculation
[ppo_line, signal_line, hist] = ppo(i_source, i_fast_len, i_slow_len, i_signal_len)

// Plot
plot(ppo_line, "PPO", color=color.blue, linewidth=2)
plot(signal_line, "Signal", color=color.red, linewidth=2)
plot(hist, "Histogram", color.gray, style=plot.style_histogram)