Typical use :
Scan for pocket .
Is stock strong fundamentally? i.e- leader in it's sector
Has the stock developed a base ?(see O'Neil's work for base discussion)
Is the stock breaking through or bouncing off the 10 period sma? (can use 50 too)
If so.. a possible buy.
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.
Gil & Kacher now uses 5-day pocket pivots to screen for potentailly good stocks to buy. Although they state that its' better to have clusters of 5-day pocket pivots, unlike the 10-day pocket pivot that can actually stand on it's own.
Just a thought. Cheers
Have the problem been solved?