DavidOConnorSpain

Pocket Pivot Indicator

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186
From Gil Morales and ‎Chris Kacher (O'Neil's disciples). Designed to find buy points in bases and continuation buy points in an uptrend. The volume today must be greater then the maximum down volume of the past 10 trading days. Recommended to use in conjunction with the 10 day and/or 50 day moving average.
Typical use :

Scan for pocket pivots .
Is stock strong fundamentally? i.e- leader in it's sector
Has the stock developed a base ?(see O'Neil's work for base discussion)
Is the stock breaking through or bouncing off the 10 period sma? (can use 50 sma too)
If so.. a possible buy.
Cheers
David

Versionshinweise: The previous version actually looks back over the past 11 days whilst we only have to check over the past ten. Thanks to Kfir Barr for spotting the error!
Open-source Skript

Ganz im Sinne von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es verstehen und überprüfen können. Ein Hoch auf den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Publikation unterliegt den Hausregeln. Sie können das Skript den Favoriten hinzufügen, um es auf dem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?

Kommentare

Thank you for such a nice script and contribution
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Hi David. Thanks for doing this indicator. Since you are obviously a Gil Morales follower, would you be interested in coding an indicator for VDU? Are you familiar with VDU (Volume Dry Up)? Morales and Katcher use this as a tool for taking trades as well. It is where volume dries up to -50% or less than average volume. I would think it would be rather easy to code, I just don't know how to do such things. Would you have the time to do something like that with a little arrow on the VDU bars?
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This is great! Thanks a ton!
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kwota kwota
@kwota, I'm seeing an issue with the script. A pocket pivot is when the volume is bigger than any "DOWN" day for the previous 10 days. A good example to look at is FB. The script has missed the pocket pivot that occurred on Dec 28 2020. Gil even called this one out himself. Its almost there and I appreciate the work you've done so thanks!
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hello all and especially @DavidOConnorSpain . how do we scan for stocks using this indicator. any help would be greatly appreciated. thanks in advance.
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@ragarw @DavidOConnorSpain I would love to know how to do that as well.
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Thank you for sharing this. Is there anyway to add alerts to this? would be very helpful indeed.
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Hi David, I was wondering how easy it would be to create a script that adds an arrow on the lowest volume day in the past 10 trading days? Basically the exalt inverse. Super interesting to hear your thoughts.
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