// ----------------------------------

// The Pocket Pivot Indicator

//

// ver 0.1

//     0.2 - using the max volume of a down day in the past 10 days

//

// ----------------------------------



// Basic criteria



minPrice = 0.0001

minVol = 1000

daysToConfirmUpTrend =9



// Only scan leading stocks above minimal price and 40 day moving average of Volume is above 500000]

cVol1 = (Close >= minPrice AND Average[50](Volume) >= minVol)



// Trend is up and Today is an up day

cPrc1 = (Close >= Average[daysToConfirmUpTrend](Close) AND Close >= Close[1] )




// Today's volume should be larger than the volume of the highest down day over the last 10 days



maxDay = 9

maxDownDay = 0

maxDown = 0



FOR d = 1 TO maxDay DO

r = Close[d] > Open[d]

IF r <= 0 and Volume[d] >=maxDown THEN

maxDown = Volume[d]

maxDownDay = d

ENDIF

NEXT



IF maxDownDay = 0 THEN

maxDownDayVol = 0

ELSE

maxDownDayVol = Volume[maxDownDay]

ENDIF



cVol2 = (Volume > maxDownDayVol)




// draw indicator



ind1 = (cPrc1 AND cVol1 AND cVol2 )





RETURN ind1 COLOURED(0, 0, 200) AS "Pocket Pivot Mod 9 Day "