Is anyone utilizing pivot point moving averages? I don't rely on indicators any more than as a confirmer, but I have found that plotting a 21 period pivot point average against a 21 period EMA (of the closing price) and noting the cross is quite helpful at identifying possible turning points in the market. Just curious if anyone else does this. Throw it on a chart and check it out. I use mainly 5 and 10M but they are helpful on every time, especially when the angle coincides with market movement. Thoughts?
There's always money in the banana stand.