Pocket Pivots are described in the book "Trade like an O'Neil Discipline" by Dr. Chris Kacher and Gil Morales. There’s no exact definition of Pocket Pivots, but there is an exact definition for the volume signature: The volume should be higher than the largest down volume of the last 10 trading days.
This is a modification of Pocket Pivots. We use the level where the Pocket Pivot occurred and draw a zone across the chart until the criteria for another Pocket Pivot is met again. This way we can use them as support/resistance zones. Instead of the volume being higher than the volume for each of the previous periods, we just use an SMA of the volume and make sure the volume on the final candle is higher than the average for the previous periods. Last but not least, we have the possibility to draw support/resistance levels off the back of different counts. Seven-count for hyper-aggressive pocket pivots, eight-count for aggressive, nine for measured and ten for passive.
Hyper-aggressive Pocket Pivots
Aggressive Pocket Pivots
Measured Pocket Pivots
Passive Pocket Pivots
All
Using "All" to see all the pivots can be messy, but the confluence of support/resistance is more than helpful for defining truly important levels.
People have created a methodology/rules for buying and selling with Pivot Points, but as I understand there's no general consensus on their application, so please do some research before you decide to use them in your trading.
The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources.
Suggestions or Questions?
Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open.
Hi, Chrysopoetics I can't add the Indicator. It said some problems.
please help.
theheirophant
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lovely script mate, many good things from you :) keep it up!!
chrysopoetics
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@theheirophant, thank you so much brother, I really appreciate it. Your encouragement and help has done a lot to help me
ilesanmipepsi
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I really appreciate the great job you have done on this script. It's fire when combined with Fibonacci tool to determine area of buy and sell levels.
Thanks for sharing.
UnknownUnicorn4711465
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Hi, i am learning and understanding pocket pivots, and the script you made seems so interesting. Please can you guide me where the buy side occurs on this ?
I can't add the Indicator. It said some problems.
please help.