PS3 Out of Signal error

You must reset the PS3 back to defaults using the composite/s-video cable it came with. The problem is not with the monitor but the settings (video out) on your PS3. Inside the PS3 settings there is multiple selection:
- DVI/HDMI
- Component
- S-video/Composite

Also for the resolutions:
480p
720p
1080i
1080p

Depending on where you set the settings on your first PS3 boot. The first boot is usually with s-video/composite cable. The settings usually stay at 480p.

Suggestion
- If you have component cable try to use them
- If not try to use the s-video/composite cable that come with PS3
- If you see the menu, then you will be able to change the display settings to HDMI (this will allow your DVI/HDMI to work). Make sure you select appropriate resolutions. Start with 480p, check it with the DVI/HDMI cable. Then move to 720p, check it. Lastly, move to 1080p and check it.