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[JRL] Pivot Regression Oscillator

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Introducing the Pivot Regression Oscillator. This oscillator uses a similar formula to the Stochastic Oscillator. However, instead of comparing the closing price to the lowest price of a period, it compares the distance between current price and the current pivot point. By basing our oscillator on pivot levels, we incorporate a much more relevant and consequential price point around which to base our comparisons.

The indicator can give reliable overbought and oversold signals, and it plots two exponential moving averages as output, which provides crossover signals that can be used to help time trades.

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The Pivot Regression Oscillator can be effective for timing re-entries into a trend and seems to be able to avoid some of the false signals of other indicators.

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Let me know if you find this useful. Cheers!
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Centered OscillatorsJRLNEWOscillatorsoverbought-oversoldpivotPivot Pointsregression

开源脚本

本着真正的TradingView精神,此脚本的作者已将其开源,以便交易者可以理解和验证它。向作者致敬!您可以免费使用它,但在出版物中重复使用此代码受网站规则约束。 您可以收藏它以在图表上使用。

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