Percent Price Oscillator: The Percent Price Oscillator is a momentum oscillator that is basically the MACD that is converted to a percentage by using the slow moving average. The signals given by the Percent Price Oscillator and the MACD will be the same. The MACD measures the difference between two price based moving averages whereas the Percent Price Oscillator does the same thing but makes it relative to the slower moving average so that the percentage of the move is measured. This makes it easier to measure price moves over time since a percentage move is measured instead of an absolute price move.
The new indicator name is: