Percentage Oscillator of Price

A percentage oscillator of the price allows performing the comparing the time periods independently on the price.

Calculation:
PPO = ( EMA(CLOSE, 12) – EMA(CLOSE, 26) ) / EMA(CLOSE, 26)
SIGNAL = SMA(PPO, 9)

Signals:
1.Positive/Negative divergence
2.The intersection of the indicator with its signal line.
3.A condition of overbuying/overselling