It was intended for scalping purpose of the S&P500 within tick charts (see screenshot of 100 ticks one). This one give fairly good signals. The fact that the pivot variable is made of candles made of ticks give a good advantage of using price action versus typical candlesticks.

// Pivot Oscillator - ProRealCode - prorealtime programming
// mmperiod = 14

pivot = (HIGH+LOW+CLOSE+OPEN)/4 
mm = EXPONENTIALAVERAGE[mmperiod](pivot) 

RETURN mm as "pivot oscillator", pivot

Download

Filename: Pivot-points-oscillator.itf

Downloads: 389

Nicolas Master

I created ProRealCode because I believe in the power of shared knowledge. I spend my time coding new tools and helping members solve complex problems. If you are stuck on a code or need a fresh perspective on a strategy, I am always willing to help. Welcome to the community!

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