Definition of 'Pocket Pivot'
- Current bar must close higher than previous bar (C0 > C1)
- For the previous 10 bars (day -1 through day -10) the close should be lower than the close on the previous day. For example C1 < C2, C2 < C3, ... C10 < C11.
- The volume on each of the previous 10 bars should be lower than the volume on the current bar. For example, V0 > V1, V0 > V2, ... V0 > V10.
V0 is volume on current bar.
V1 is volume on previous bar etc.
C0 is closing price on current (most recent) bar.
C1 is closing price on previous bar etc.
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