A Pivot-Based Exponential Average for Tick-Chart Scalping

Summary

The document describes a pivot oscillator intended for scalping the S&P 500 on tick charts. For each bar, it defines a pivot value as the average of the open, high, low, and close, then applies an exponential moving average with a period of 14. The indicator returns both the smoothed series and the underlying pivot value.

The author argues that bars formed from a fixed number of ticks may capture price action differently from time-based candlesticks and says the indicator gives fairly good signals. However, no chart, signal rules, performance statistics, or comparison with ordinary candles are provided. The account is therefore a brief indicator specification and use case, not evidence that the method is profitable. It also leaves the scalping entries, exits, transaction costs, and risk controls unspecified.

Key ideas

• Each bar's pivot input is the average of its open, high, low, and close.
• An exponential average with a period of 14 smooths the pivot series.
• The indicator is intended for S&P 500 scalping on tick charts.
• The document claims useful signals but provides no performance evidence or trading rules.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.