Pivot Detector Oscillator, Simplified
Giorgos E. Siligardos's article, "Pivot Detector Oscillator, Simplified", introduces a simplified version of the pivot detector (Pid) oscillator to improve your timing by leaps and bounds.
Using Function Builder, one needs to create the PIDocs function; then, using Indicator Builder, one can quickly write the corresponding indicator and plot it on a price chart.
The following is the code for Mr. Siligardos's function and indicator which can help define oversold and overbought instances more precisely than RSI.
PIDocs Function:
function (Length:Numeric = 14):Numeric;
Var
sma200:=0;
bull:=false;
End_var
sma200:= Mov(C,200,S);
bull:= C>sma200;
return iff(bull, (RSI(C,Length) - 35) /
(85 - 35), (RSI(C,Length) - 20) /
(70 - 20)) * 100;
PIDocs Indicator:
return PIDocs(14);
For the creation of the PIDocs strategy, use Strategy Builder:
Entry Long Signal:
return CrossAbove(PIDocs(14),0);
Entry Short Signal:
return CrossAbove(PIDocs(14),100);
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