Adaptive Oscillator for TradeStation

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2 Adaptive Oscillator for TradeStation PZT PROOF is an adaptive oscillator based on a statistical range of price action. Similar to a stochastic indicator, it creates values by comparing the distance between closing prices and highs or lows. While the calculations are somewhat complex, it forms a fast moving oscillator that can be useful on intraday, daily and weekly charts. The line and histogram represent the values of the calculations with the green or red coloring representing advances above or below the zero line. Changes in coloring shades (green to darker green for instance) represent a change in and may signal an immediate change in price direction. The dashed lines are threshold values and are dynamic, acting much like Bollinger bands applied to the indicator. When compared with other oscillators, zero line crosses and changes often occur two to three bars earlier. A change of outside of the threshold lines can signal a reversal 2

3 Settings The input variables for PZT PROOF are: Name Value Description Length 21 Used to determine maximum length of look back StDv 1 Standard deviation threshold for up or down color bars UpColor green Histogram color for values above zero with positive UpColorNeg darkgreen Histogram color for values above zero with negative DownColor red Histogram color for values below zero with positive DownColorNeg darkred Histogram color for values below zero with negative RangeColor yellow Indicator color for values within threshold bands Tips for using PZT Indicators Double right click on any chart to enlarge it to full screen. Double right click a second time to return to the original workspace formatting. Single right click while the cursor is over an indicator and select format to quickly change the inputs for that indicator. Set pointer tracking to workspace [Drawing Menu Pointer Tracking Workspace] to allow the cursor to automatically go to the same spot on all charts within in a workspace. In each intraday workspace, charts may be linked to the quote screen by left clicking on the colored tab on the top right edge of the window and choosing a symbol link color. This allows all charts to change to the highlighted instrument in the quote window. 3

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