pop tradingview.com indicator formula

//@version=2 //Credit to https://www.tradingview.com/script/p3oqCa56-Pekipek-s-PPO-Divergence-BETA/ (I just changed the visuals and added alerts) study("PPO Divergence Overlay", overlay=true) source = close topbots = input(true, title="Show PPO high/low triangles?") long_term_div = input(true, title="Use long term divergences?") div_lookback_period = input(55, minval=1, title="Lookback Period") fastLength = input(12, minval=1, title="PPO Fast") slowLength=input(26, minval=1, title="PPO Slow") signalLength=input(9,minval=1, title="PPO Signal") smoother = input(2,minval=1, title="PPO Smooth") fastMA = ema(source, fastLength) slowMA = ema(source, slowLength) macd = fastMA - slowMA macd2=(macd/slowMA)*100 d = sma(macd2, smoother) // smoothing PPO bullishPrice = low 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] and low[1] == low[4] and low[1] < low and low[1] < low[5] // this line identifies bottoms and plateaus in the price oscMins= d > d[1] and d[1] < d[2] // this line identifies bottoms in the PPO BottomPointsInPPO = oscMins bearishPrice = high 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] and high[1] == high[4] and high[1] > high and high[1] > high[5] // this line identifies tops in the price oscMax = d < d[1] and d[1] > d[2] // this line identifies tops in the PPO TopPointsInPPO = oscMax currenttrough4=valuewhen (oscMins, d[1], 0) // identifies the value of PPO at the most recent BOTTOM in the PPO lasttrough4=valuewhen (oscMins, d[1], 1) // NOT USED identifies the value of PPO at the second most recent BOTTOM in the PPO currenttrough5=valuewhen (oscMax, d[1], 0) // identifies the value of PPO at the most recent TOP in the PPO lasttrough5=valuewhen (oscMax, d[1], 1) // NOT USED identifies the value of PPO at the second most recent TOP in the PPO currenttrough6=valuewhen (priceMins, low[1], 0) // this line identifies the low (price) at the most recent bottom in the Price lasttrough6=valuewhen (priceMins, low[1], 1) // NOT USED this line identifies the low (price) at the second most recent bottom in the Price currenttrough7=valuewhen (priceMax, high[1], 0) // this line identifies the high (price) at the most recent top in the Price lasttrough7=valuewhen (priceMax, high[1], 1) // NOT USED this line identifies the high (price) at the second most recent top in the Price delayedlow = priceMins and barssince(oscMins) < 3 ? low[1] : na delayedhigh = priceMax and barssince(oscMax) < 3 ? high[1] : na // only take tops/bottoms in price when tops/bottoms are less than 5 bars away filter = barssince(priceMins) < 5 ? lowest(currenttrough6, 4) : na filter2 = barssince(priceMax) < 5 ? highest(currenttrough7, 4) : na //delayedbottom/top when oscillator bottom/top is earlier than price bottom/top y11 = valuewhen(oscMins, delayedlow, 0) y12 = valuewhen(oscMax, delayedhigh, 0) // only take tops/bottoms in price when tops/bottoms are less than 5 bars away, since 2nd most recent top/bottom in osc y2=valuewhen(oscMax, filter2, 1) // identifies the highest high in the tops of price with 5 bar lookback period SINCE the SECOND most recent top in PPO y6=valuewhen(oscMins, filter, 1) // identifies the lowest low in the bottoms of price with 5 bar lookback period SINCE the SECOND most recent bottom in PPO long_term_bull_filt = valuewhen(priceMins, lowest(div_lookback_period), 1) long_term_bear_filt = valuewhen(priceMax, highest(div_lookback_period), 1) y3=valuewhen(oscMax, currenttrough5, 0) // identifies the value of PPO in the most recent top of PPO y4=valuewhen(oscMax, currenttrough5, 1) // identifies the value of PPO in the second most recent top of PPO y7=valuewhen(oscMins, currenttrough4, 0) // identifies the value of PPO in the most recent bottom of PPO y8=valuewhen(oscMins, currenttrough4, 1) // identifies the value of PPO in the SECOND most recent bottom of PPO y9=valuewhen(oscMins, currenttrough6, 0) y10=valuewhen(oscMax, currenttrough7, 0) bulldiv= BottomPointsInPPO ? d[1] : na // plots dots at bottoms in the PPO beardiv= TopPointsInPPO ? d[1]: na // plots dots at tops in the PPO i = currenttrough5 < highest(d, div_lookback_period) // long term bearish oscilator divergence i2 = y10 > long_term_bear_filt // long term bearish top divergence i3 = delayedhigh > long_term_bear_filt // long term bearish delayedhigh divergence i4 = currenttrough4 > lowest(d, div_lookback_period) // long term bullish osc divergence i5 = y9 < long_term_bull_filt // long term bullish bottom div i6 = delayedlow < long_term_bull_filt // long term bullish delayedbottom div //plot(0, color=gray) //plot(d, color=black) //plot(bulldiv, title = "Bottoms", color=maroon, style=circles, linewidth=3, offset= -1) //plot(beardiv, title = "Tops", color=green, style=circles, linewidth=3, offset= -1) bearishdiv1 = (y10 > y2 and oscMax and y3 < y4) ? true : false bearishdiv2 = (delayedhigh > y2 and y3 < y4) ? true : false bearishdiv3 = (long_term_div and oscMax and i and i2) ? true : false bearishdiv4 = (long_term_div and i and i3) ? true : false bullishdiv1 = (y9 < y6 and oscMins and y7 > y8) ? true : false bullishdiv2 = (delayedlow < y6 and y7 > y8) ? true : false bullishdiv3 = (long_term_div and oscMins and i4 and i5) ? true : false bullishdiv4 = (long_term_div and i4 and i6) ? true : false bearish = bearishdiv1 or bearishdiv2 or bearishdiv3 or bearishdiv4 bullish = bullishdiv1 or bullishdiv2 or bullishdiv3 or bullishdiv4 greendot = beardiv != 0 ? true : false reddot = bulldiv != 0 ? true : false alertcondition( bearish, title="Bearish Signal (Orange)", message="Orange & Bearish: Short " ) alertcondition( bullish, title="Bullish Signal (Purple)", message="Purple & Bullish: Long " ) alertcondition( greendot, title="PPO High (Green)", message="Green High Point: Short " ) alertcondition( reddot, title="PPO Low (Red)", message="Red Low Point: Long " ) plotshape(bearish ? d : na, text='▼\nP', style=shape.labeldown, location=location.abovebar, color=color(orange,0), textcolor=color(white,0), offset=0) plotshape(bullish ? d : na, text='P\n▲', style=shape.labelup, location=location.belowbar, color=color(#C752FF,0), textcolor=color(white,0), offset=0) plotshape(topbots and greendot ? d : na, text='', style=shape.triangledown, location=location.abovebar, color=red, offset=-1, size=size.tiny) plotshape(topbots and reddot ? d : na, text='', style=shape.triangleup, location=location.belowbar, color=lime, offset=-1, size=size.tiny) //barcolor(bearishdiv1 or bearishdiv2 or bearishdiv3 or bearishdiv4 ? orange : na) //barcolor(bullishdiv1 or bullishdiv2 or bullishdiv3 or bullishdiv4 ? fuchsia : na) //barcolor(#dedcdc)