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Precision Index Oscillator
Version 1
Pi-Osc is simple to use and the top and bottom early warning signals are flagged up when + or - 3.14 is reached, the actual signal the Pi-Osc gives is when the it moves away from Pi. This indicates a higher than normal probability that the next bar will reverse. At this point the indicator plot will change color to highlight the scenario clearly and has an alert feature which can be enabled It is comprised of multiple mathematical equations which measure price and volume movement in multiple timeframe sampling that endevour to notify where turning points in trends are likely to occur. Designed by Roger Medcalf of PrecisionTradingSystems
Pi-Osc is simple to use and the top and bottom early warning signals are flagged up when + or - 3.14 is reached, the actual signal the Pi-Osc gives is when the it moves away from Pi. This indicates a higher than normal probability that the next bar will reverse.



At this point the indicator plot will change color to highlight the scenario clearly and has an alert feature which can be enabled



It is comprised of multiple mathematical equations which measure price and volume movement in multiple timeframe sampling that endevour to notify where turning points in trends are likely to occur.



Designed by Roger Medcalf of PrecisionTradingSystems
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Customer Reviews
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Average Customer Rating:
 (1)
An ingenious product - good addition to the toolbox...
June 30, 2017 Version: 1
By:Rob Jones
I think this is a very innovative and useful indicator. One use is to point out reversals from extreme overbought/oversold conditions as described, and I certainly see it's value in that regard.

However, I'm also seeing it as a way to spot bullish and bearish divergences between price action and the readings of the indicator, and even just watching whether the indicator is moving up and down seems like a bit of a heads up that one should either stay in a price move experiencing minor 'chop', or that it is rolling over and due to reverse - even if the more extreme 3.14 or -3.14 reading that signals an 'official' color-coded reversal is not reached.

I'm seeing many price moves that top out at 2.8 lets say, and then the indicator direction confirms the 'rollover in price action even though 3.14 wasn't hit.

I personally change the display from being a line to a very thick histogram, to make it more visually obvious that the indicator is above zero or below zero, and to my eye, this makes it easier to see whether the precision index is trending up or down.

Anyway, for me this was a good one to try out!
$16 mo
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Developer
Requirements
Tradestation 9.5 (Update 16)
Asset Type
Stock, Future
Style
Swing Trading
Methodology
Counter Trend
Analysis Techniques
Applications
Categories