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© Roger Medcalf 2005 - 2013 ... You may not reprint text or images without permission


Precision Index Oscillator for MultiCharts conceptualized by Precision Trading Systems  


Pi-Osc was created to provide trade timing signals by Precision Trading Systems, and is a consensus indicator which has some powerful improvements and differences to industry standard oscillators. At first glance to the untrained eye it would appear like another other oscillator, but when viewing it in juxtaposition with other oscillators the true power of this indicator begin to emerge.



Precision Index Oscillator for MultiCharts shown below on


Pi-Osc is extremely simple to use and the top and bottom early warning signals are flagged up when + or - 3.14 is reached, the actual signal the Pi-Osc gives is when the it moves away from Pi. This signal indicates a 86% probability that the next bar will reverse.

It is comprised of 439 different mathematical equations which measure price and volume movement in multiple timeframe sampling that predict with a high degree of accuracy where turning points in trends are likely to occur.

View Precision Index Oscillator License options



How does the Precision Index Oscillator work?


The Pi-Osc indicator uses some very ingenious and logical factors in its calculations, some of these factors are found within conventional oscillators and some are not.

The components that go into computations are identified below.

Money flow index provides a simple snapshot of how sold out a stock or future really is and when measured in three different time frames gives a slick consensus view of money flow.

Relative strength index (RSI)  still the No1 most popular indicator in use today as its power to identify overbought and oversold qualities in sideways markets is exceptional. Its poor performance in trends is greatly reduced when seamlessly integrated with the PI-Osc algorithm.

Demand index, being one of the designers favourite indicators for measuring the future direction caused by a large volume trade is incorporated here as well as its exceptional efficiency as a divergence indicator. James Sibbet's creation provides an additional stellar incisive cutting accuracy to the Pi-Osc.

Divergences. Pi-Osc measures divergences which occur in five different time frames from two different indicators, realising that divergences are often spurious in their reliability, the designer only factors 4% of the total indicator reading from these. Paradoxically the buy and sell zones have to have at least one observation of a divergence to trigger a signal.

Volume is always a factor that precedes a price change, as stock prices cannot move without a real money value being assigned to it either as a recent trade or a bid-offer order being placed. The designer's understanding of volume patterns is very useful addition incorporated into the Pi-Oscindicators unique conception. 

Momentum frequently decelerates prior to market turning points and PI-osc is monitoring several timeframes of smoothed momentum samples in its calculations. But unlike a conventional rate of change or momentum indicator the Pi-Osc indicator scores a neutral reading when momentum is rising or falling fast, and a reading is only factored into the output when momentum is reducing, thus indicating a higher probability of success.

Probability is another feature of this algorithm. Although rarely used in industry standard oscillators, the designer has added a standard deviation (2.9) factor into this indicator as the more usual 2 standard deviations used in Bollinger bands is just not reliable enough to bet hard earned cash on. Normally distributed price sets have a 99.9% containment within 3.3 standard deviations, so when this is breached the Pi-Osc adds or deducts a further value to its output number.

Stochastics have similar attributes to RSI oscillators and have contributed a factor into PI-osc due to their smooth and reliable ability to identify buying and selling points on non trending markets.

Price patterns. Generally the industry standard oscillators just use the closing price to calculate their values, and although some indicators such as the stochastic use the high and low in their mathematics, few oscillators are actually programmed to respond to unique candlestick chart set ups. PI-osc is setting the standard with its intelligent programming to recognise when the current chart pattern is shouting Buy! Several of the more reliable patterns are factored into the algorithm. 

When all the maths is done, Pi-Osc does an exceptional job of determining true buying and selling points. Basically the trading interpretation is made very simple for you, as the buy and sell zones are so logically determined, not by one factor but from a large consensus "vote" from more than one different computation.

The benefits of this indicator are that it saves valuable time in "confirming technical analysis signals" and all trades know time is precious as large price changes can be missed in seconds while checking other confirming factors. It takes the hard work out of it, and lets your computer do the brain work. 

Ideally this indicator is best as an entry signal, and exits are best done with a trailing stop which has a logical trend following exit, as its quite rare that the Pi-Osc will run right to the other extreme and issue a reverse signal.


Precision Index oscillator can often help you pinpoint tops and bottoms with high accuracy


Rule 1:    Wait for the Bounce away from Pi

The shot below shows Pi-Osc correctly called two recent tops in Google stock



Rule 2:    Wait for the Bounce away from Pi


Rule 3    Wait for the Bounce away from Pi


Which markets can PI-OSC be used on?

  • Futures            
  • Stocks               
  • Bonds                
  • Forex  ( Forex has no actual trade volume reported and hence Pi-Osc performance may be less than optimal )        
  • Forex Futures   
  • ETFs and any other markets with volume.

Which markets cannot be used with PI-OSC ?

  • Indices without volume
  • Any market with no volume

Does Pi-Osc work on any type of MultiCharts charts?

  • Bars
  • Candles
  • Line
  • Kagi
  • Renko
  • Point and figure
  • Range
  • and all the others supplied in MultiCharts

How to install Pi-Osc ?

  • Go to power language editor in MultiCharts,  click on file, import read only, then select the file I sent you from the location you saved it to

How does the Pi-Osc for MultiCharts licensing work?

  • If you buy a one year license, you can use it whenever you are logged on the your MultiCharts pc.
  • If your license expires the indicator will stop working..
  • You can upgrade it to a longer license at anytime before or after expiry if you wish to do so, but there is no obligation.
  • To upgrade simply go to the payment page and purchase it.

View Precision Index Oscillator License options


Waiting for Pi-Osc to bounce from 3.14 is worth its as rare signals are usually more reliable than common ones.


Trade signals are generated when Pi is achieved and then moves away from Pi

Rule 4    Wait for the Bounce away from Pi


Rule 5    Wait for the Bounce away from Pi


Just sit back and wait for your PI to come along and remember that in the stock market there is generally always a sucker ready to take the other side of your trade.




Precision Index Oscillator Pi-Osc for MultiCharts

Price $195  (Pay-Pal or Skrill )  View License options


Stocks, Futures, Bonds, Forex, Real-time and Static data  


Author: Precision Trading Systems. (Protected code)

     PI-Osc increases your chances of picking a top or bottom greatly compared to other technical analysis.

Rule 6    Wait for the Bounce away from Pi


View Precision Index Oscillator License options




 PI-Osc shows precise tops and bottoms in this example

Rule 7:   Wait for the Bounce away from Pi


View Precision Index Oscillator License options


Precision Index Oscillator for MultiCharts conceptualized by Precision Trading systems


Pi-Osc has 8 simple rules that must be observed to achieve the best results.

Rule 1: Wait for the bounce away from PI

Rule 2: Wait for the bounce away from PI

Rule 3: Wait for the bounce away from PI

Rule 4: Wait for the bounce away from PI

Rule 5: Wait for the bounce away from PI

Rule 6: Wait for the bounce away from PI

Rule 7: Wait for the bounce away from PI

Rule 8: Remember the other 7 rules


FAQ for dummies



What is a pie bounce?





See image ---->



What is a bounce away from PI?






See image ---->





Does Pi-Osc work with Kagi, Renko and tick charts?







Yes it works with any type of charts. See image ---->




Its also clearly stated up above ^


Be careful, you might get a pie next time.



I have not received my indicator yet, and I ordered it 2 hours ago.

Why is this?




You did not add your MultiCharts user details to your order as requested:




I wonder if you can tell me the best timeframes to use Pi-Osc in? 




As with most systems and indicators reliability of signals is improved with increases in data sampling frequencies.


E.G. A 15 minute chart would tend to give more reliable signals  than a 1 minute chart and a daily chart would tend to be more reliable than 4 hourly chart.

Looking for the holy grail?    Its turns out to be a stopwatch ---->



Your FAQ for dummies is very funny!

Have you ever thought about offering a prize for the most stupid question?




My research shows a bit of humour helps to encourage people to read carefully before asking me something which is already written clearly on the site here.


I award a pie to each question which is stated above, but please feel free to suggest an alternative prize. 


Even my dog can read, here he is studying Elliot wave theory----->




How do I install it?




See above How to install Pi-Osc ?






How do I find my MultiCharts customer number and name?







Open MultiCharts, click on help, about, your ID number is there


To find out your name you could check your birth certificate






What happens when my license expires? Are there any obligations to me?




You will get a notification message on you MultiCharts platform showing the license has expired.

You may renew it at any time you like , but of course there is no obligation to do so.

This is the message you will see before expiration of license----->



Roger, Here are a couple of charts.  I have just three things to say WINNER, WINNER, WINNER and its giving better signals than the Tradestation version. I am like a kid in a candy store.

Regards Michael.





Happy customer pie screenshots are always welcome, thanks




Do your products work with the latest release of MultiCharts 8.8?






Yes anything later than 8.5 will work fine. ------>




Both 32 OR 64 BIT

But you need to tell me if your MultiCharts is

32 bit or 64 bit when you purchase



Does your Pi-Osc  work on NinjaTrader too?





Yes,  I have a version for NinjaTrader7


Pi-Osc for NinjaTrader7



Does your Pi-Osc  work on Renko charts?





Yes, it works on any type of chart as is clearly stated above.



Why is it that I cant get a score above 700 in your Trading IQ Game? I am a highly intelligent person with a masters degree in economics. I have never felt so stupid in my life. If trading is as difficult as in your game then probably it is madness for people to attempt it.




1+1 = 2 on every electronic calculator, and losing trades usually get measured as losses regardless of the education level of the trader


Does your intelligence ever permit you to believe you

 could sometimes get things wrong?

View Precision Index Oscillator License options





Full list of other paid and free products for MultiCharts from Precision Trading Systems.








FREE and paid Systems and Indicators for Tradestation MultiCharts, MetaTrader4  and NinjaTrader, detailed articles on trading systems, trend following, risk control analytics, optimization, optimal trade size formulas, online calculators, FREE to play Trading IQ Game with massive prizes from our two sponsors NinjaTrader and MultiCharts, tutorial videos, expert trader videos, no nonense content that does exactly as it is described...Time is running out... Credit availability is drying up....US National debt to be equal to 35% of the entire worlds GDP in 3 years....33% of all USA tax revenues will be required just to make the INTEREST PAYMENTS on the collosal national debt...... Eventually the US will have no option other than to print money or default on their debt repayments...... US Dollars will likely cease to be the reserve currency of the world........Stimulus is running out, the Federal reserve has fired all its bullets and the only options left are to print more money or to default on the debt payments.....The problem is infinitely worse than in 1929 due to the added problem of this huge government debt...... In 1929 the USA still had a positive trade surplus and a manufacturing based economy..... In 2011 the USA will have no such resources to fall back on........The two most likely scenarios are both likely to lead to disaster......Hyper-Inflation at 40%+ or Deflationary implosion....... Either of the two possibilities will lead to huge moves in the worlds financial markets........Trading of these massive moves could be the only way out..........Wise proffessional traders have already started building huge dollar short posistions in anticipation of the debacles to come.....Many people will suffer as a result of the irresponsible un-elected Federal reserve operatives..........Many more people will lose their homes......Millions of jobs will be lost......Those who are unprepared will become impoverished in ways that they could never imagine.....What is your strategy to trade these violent market trends?.........ARE YOU  READY?

Precision Trading Systems is partnered with MultiCharts and part of the NinjaTrader Ecosystem

  • Products are provided for both these platforms.
  • Our partner also sponsor the Trading IQ Game
  • Both these trading platforms are excellent


Precision Trading Systems is provider of the following



 Precision Trading Systems is partnered  with MultiCharts.


 Precision Trading Systems is part of the NinjaTrader ecosystem.


 Systems and Indicators for Tradestation, NinjaTrader and MultiCharts.


 Top quality paid & FREE trading systems and indicators for most platforms


 Members can receive some paid products completely FREE


 Roger Medcalf is a vendor on the Tradestation App store


 Roger Medcalf is a vendor of products of MetaTrader 4



  Free to play Trading IQ Game with generous PRIZES  from our sponsors.


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  • Futures, Forex and Stock trading contain substantial risk and are not for every investor.

  • An investor could potentially lose all or more of the initial investment.

  • Risk capital is money that can be lost without jeopardizing ones financial security or lifestyle.

  • Only risk capital should be used for trading

  • Only those with sufficient risk capital should consider trading.

  • Past performance is not necessarily indicative of future results.




Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.