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
Versionsinformation
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+ 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.