After a very short period of examining the Pi-Osc it is apparent to me that it is the best indicator of Overbought and Oversold that I have seen. I have spent more on indicators that provide less useful information than it does. I am certain it has value with its stated purpose as a heads-up to anticipate a reversal and then enter in the new direction after price has started to move that way.. But, it has value in 2 other regards...1 of which would require the creator to make a simple addition to the code. If you are sufficiently advanced in your knowledge such that you don't enter your positions solely based upon Pi-Osc signals, you will find that even more often than the Pi-Osc gives you a great reversal entry signal, it will give you a great trend exhaustion signal. In other words, yes, a Pi-Osc signal usually shortly precedes a reversal but a Pi-Osc signal is almost always soon followed by either a pullback or a reversal. Thus, it can be a great heads-up to exit a trade that you were already in due to following other robust methods/indicators. This would allow you to trail a stop more tightly when the Pi-Osc gives a signal and make a larger profit then look to enter in the other direction. It's other value is that it does a decent job as a trend indicator. But, the code needs to have a zero line added. I look forward to posting some actual examples of how it has created or enhanced profit for me.

Thank you for giving your opinion on this indicator. Regarding the zero line, it was a point of consideration during construction of this product but it was left omitted because my customers might have taking the crossing of zero to be some valid form of signal to action a trade. My study revealed that it works best as it is intended to, to flag up likely reversal points rather than as a trend indicator, although it does function quite well in this way when uptrend is defined as above 0 and downtrend below 0. Other customers have observed its value when divergences are observed between price and indicator. If you wish to add a zero line you can create an indicator with a plot of zero and then overlay it to Pi-Osc2012Ninja in the same sub graph window so as to see the crossings. If you wish to design a trading system to action some trades basis of this crossing, then this can be done within the NinjaTrader development environment and Pi-Osc can be called by your code so as to create the buy or sell signals you require to see.