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
No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.ProRealTime ITF files and other attachments :