This indicator calculates pivots of 2nd, 3rd and 4th order in the current timeframe.
The idea is borrowed from the book "The Art and Science of Technical Trading" by Adam Grimes:
"A pivot high is a bar that has a higher high than the bar that came before it and the bar that comes after it"
"Second-order pivot highs are first-order pivot highs that are preceded...
“The benchmark Dow Jones Industrial Average is off nearly 300 points as of midday today...”
“So what? Is that a lot or a little? Should we care?”
-Adam H Grimes-
This screener aims to provide Bird-Eye view across sector indices, to find which sector is having significant or 'out-of-norm' move in either direction.
The significance of the move is...