arunaaron365

Shelby Duo

Shelby Duo indicator is a combination of the following:

1. Central Pivot Range
2. Floor Pivots
3. Camarilla Pivots
4. Volume Point Of Contact
5. Value Area High and Value Area Low

All the pivot calculations are based on Secret of Pivot Boss book by Frank Ochoa.

One can also view tomorrow's central pivot range by today end of the day.


How to use it:

The Golden Pivot Zone is the method given by Frank Ochoa in his book "The Secret of Pivot Boss"

Here, he discusses its types and how to use them efficiently.

There are two types of GPZ,

1.) BEARISH GPZ
2.) BULLISH GPZ

BEARISH GPZ:

A bearish GPZ occurs when H3 of the Camarilla Equation, or any of the Money Zone levels, is mixed within the central pivot range. Therefore, a GPZ is present if any of the following pivots falls within the boundaries of the central pivot range:H3, VAL, VAH, POC, or VPOC. Any bullish advance that fails at the GPZ typically leads to a drop back toward the next area of pivot support, which is generally S1 or L3.

BULLISH GPZ:

A bullish GPZ occurs when L3 of the Camarilla Equation, or any of the Money Zone levels, is mixed within the central pivot range. Therefore, a GPZ is present if any of the following pivots falls within the boundaries of the central pivot range: L3, VAL, VAH, POC, or VPOC. A sell-off or pullback to a bullish GPZ generally leads to an advance back toward the next area of pivot resistance, which is usually R1 or H3.

Entry and Exit Conditions:

BEARISH GPZ: Entry can be taken when it touches the zone. Exit can be done when the price reaches PDL /L3.

BULLISH GPZ: Entry can be taken when it touches the zone. Exit can be done when the price reaches PDH /H3.


Protected script
This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
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?