Pocket Pivot Breakout Indicator
The pocket pivot breakout indicator will show a blue arrow under the candle if both the following conditions are met:
1. The percentage change of the candle on that day from open is greater than 3%.
2. The volume on the day of 3% candle is higher than the highest red volume in the past 10 days.
The second condition is based on the...
Volume is probably the most overlooked indicator by new traders. The buying and selling activity of large funds and institutions is the main driver of stock prices, and recognizing this activity is crucial to identifying future price movements.
This script has several elements not found in standard volume indicators:
POCKET PIVOTS
Pocket Pivots are the work...