Help us make better tools for you!. Read more (Published: 2017-01-12)
Pivot Points, or significant tops or bottoms, as it really is, are generated if special conditions are in place. We look at several factors, like, volume, rsi, patterns in the last rise, trends and naturally there has to be a retraction after a gain in order to properly identify a top. (and opposite for a bottom). The retraction cannot be simulated, and due to the fact that it has to happen, it causes a delay for this signal. Usually approx. 2 days. Statistically you would loose 1-3% of the signal due to the delay.
We use self-developed logarithms to identify the Pivot Points. As a general rule a signals are weakned if stocks are traded on low volume (ill-liquide), and the chance for a false signal increases.
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