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PZT PROOF for TradeStation
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Powerful adaptive oscillator for active traders

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 value of the calculation with the green or red coloring representing an advance above or below the “zero line”. Changes in coloring shades (green to darker green for instance) represent a change in slope 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 slope changes often occur two to three bars earlier.

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