In this script, we are trying to gather the stats based on last two pivot state together. For example, Individual table of Pivot High Projection is as explained below:
But, by looking at the bigger picture, we can further estimate following things regarding the current unconfirmed pivot and the new pivot which is yet to be formed.
What a deal! I feel like you could probably spend an hour explaining how this works. Divergences are such a tricky thing. They're right there plain as day in retrospect, but in my study it seems you have to pair it with something else to get better than coin flip odds. (truthfully, you generally get worse than coin flip odds trading divergences from my research). Thanks for sharing it!
Trendoscope
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@kurtsmock, thanks mate. End goal is to find the effectiveness of divergence. But, we are not there yet. The script is only looking at behaviour of immediate candles post divergence. Can explore more.
kurtsmock
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@HeWhoMustNotBeNamed, I like using this method of study as well. How much of the price action post-divergence are you measuring in the table? And I assume its measured in dollar/pt moves? is that correct?
Trendoscope
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@kurtsmock, right now just looking at possibility of making next pivot as HH,HL,LH,LL. But, can measure further pivots. I prefer to measure in terms of risk reward (distance in comparison with last pivot distance). That way, it takes into consideration different sizes of patterns.
Pip-Whisperer
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a great idea would be to test the outcome of each divergence and count which pivot length is most successful!
unmarkedpanic
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Always enjoy your new indicators.
manisankardas
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very Usefull indicator
razvangeorgescu68
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Hello I want to know if this indicator is a repaint??? or not Thank you
jlee462
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@HeWhoMustNotBeNamed Fantastic script!!! What is the lookback amount and how is it calculated?
Trendoscope
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@jlee462, hm. Not sure what parameter you are using about. This script is earlier versions of next pivot projection though. You can better refer to next Pivot projection instead of this