Pivot Oscillator for Comparing Averaged Price with Pivot Levels

Summary

This indicator adapts a conventional pivot tool by placing pivot levels in a separate pane rather than overlaying them on the main price chart. It also displays the position of an averaged price relative to those levels, making it possible to inspect how the average moves across the trading day in relation to pivots. The description presents the display as a way to observe price context, rather than specifying entry or exit rules.

The averaging period controls whether the calculation uses a smoothed price or effectively raw price: a period of one or less removes the averaging effect. The document gives no formula details, tested markets, performance evidence, or guidance for interpreting crossings. It therefore describes an indicator visualization, not a validated standalone strategy; users would need to define and test any trading rules built around it.

Key ideas

• The indicator plots pivot levels in a separate pane instead of on the main price chart.
• It compares an averaged price with the pivot levels over the trading day.
• A period of one or less makes the display effectively use raw price.
• The description provides no performance evidence or explicit trade rules.

Tags

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