Hi Satya, Vin, MB and others,
Looks like we have three different pivots now. Now within these three we have just one major all others are minor. While identifying the major among these three I invented another method of identifying a reversal pivot, which is very closely related to Saint's method if not the same. Please be advised that I am not very sure whether this method is right or wrong I need to still work on it but it gives a reversal point very early, now thats the matter of concern and I am bit suspicious too. I back tested it with last 10 days data and it looks fine to me but still requires further confirmation from you guys and helps to improve it more if not totally wrong
Here I am presenting it in a very simple way. Please let me know what you guys think.
I started looking for next pivot from the yesterday's pivot, as suggested by Vin it was at around 3897 the lower most circle in the attached chart. Then as long as we have higher low no problem we keep our pivot as it is. Now whenever the low of current bar breaks the low of previous bar, we move our pivot to the low of that bar (here in the chart the 2nd pink circle from bottom of the chart becomes our new pivot). In this way we already had a pivot today (the highest pink color circle on the chart) at around 4070.
PB: I am not very sure whether this method violet's in any way Saint's method of 60 min flow although I am quite sure this is closely related to his method but it identifies the pivot much earlier. Please also note that I am not very sure whether this will work on real time trading or not, extensive back testing is required before implementing this.
Guys pls share your comments regarding the same. Thanks,
