felixlanglet

Pocket Pivots and standard SMA/EMA's

This script shows Pocket Pivots, up-days with higher volume than the last 9 down-days, directly on the chart below current and historic candles. Pocket pivots can be used to find early entry points within a base since it marks institutional buying. Pocket pivots are marked as black dots below the candle for easier identification.

The script is largely based on Gil Morales and Chris Kacher's method from their books "Trade Like an O'Neil Disciple" and "In The Trading Cockpit with the O'Neil Disciples". Other than pocket pivots, this script also includes the most common Simple and Exponential Moving Averages, and support/resistance lines as well as 3-weeks tight markup on the weekly chart.

This script contains:
- Pocket Pivots, black dots below the candles on all timeframes (Pocket Pivot = an up-day with greater volume than the last 9 down-days)
- Caution marks, red dots below the candles on all timeframes (Caution mark = close below the 10EMA)
- Simple moving averages
- Exponential moving averages
- Support/resistance lines
- 3-weeks tight markup on the weekly chart

Simple moving averages (editable):
- SMA 10
- SMA 20
- SMA 50
- SMA 200

Exponential moving averages (editable):
- EMA 4
- EMA 6
- EMA 10
- EMA 12
- EMA 21


Release Notes:
+ Disabled SMA 10/20/200 and EMA 6/12 as a default setting.
+ Improved the Pocked Pivot indicator
+ Added "Slingshot" indicator from @ScoT1and (Twitter Trader)
+ Added "Restriction candle" setting, which gives you the ability to color candles below the 50-day SMA for easy identification of areas where you shouldn't trade.
Release Notes:
+ Like this script? Follow me on Twitter @path_to_profit

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?