I will testting out pivots to see if this works as trading timing indicator. Do you think this will work with these red and green dots? Once a position is put, it will wait it out of for red dots after the entry. It will also be combined with the usual rate of change percentage moves and long vs short position on the particular pairs. This will be able to able confirm down moves with all 3 indicators. Do realize these pivots are not 100% accurate but may be useful combined with the other indicators. I may report back to see how this works. If it does, I will apply to the crypto currency bot as well.
Update: You need to ensure the up and down threshholds need to be accurate. One way to do this is use the min and max of rate of change of your time series. This is before calculating your pivots.
How useful are peaks or pivots for trading charts from Python
I was warned about these. Unless you can use these for forward looking purposes, these are not that useful. I can always be wrong but maybe this could be useful.
Update: Someone on my Telegram revealed about PivotBoss. After thinking this is just another frat boy teaching trading, I realized there is more to know after watching a few seconds of this person’s videos.
More human traders have shown me how to use these things. It is quite fascinating that this can be useful is many ways you will not find online. I am learning this from other automated and human traders like you who have been using these techniques for decades. I am hoping to expand this topic among trading patterns, flag/pennants, and wedges. There will be more to come.
Here is another source from someone else so thanks to them