Pivot oscillator
This indicator is made of averaging a value made of pivot points of the current timeframe.
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
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// PIVOT OSCILLO onchart PRC DID Pivot Oscillator - ProRealCode - prorealtime programming pivot = (HIGH+LOW+CLOSE+OPEN)/4 mm = AVERAGE[mmperiod,MAtype](pivot) RETURN mm as "pivot oscillator", customclose as " customclose " // Variables : // mmperiod = 14 perso = 20 // MATYPE = expo perso = triangulaire
http://ovh.to/rbcdfr2