Mark Minervini + Pocket Pivot Breakout

MARK MINERVINI + POCKET PIVOT BREAKOUT INDICATOR

The Mark Minervini + Pocket Pivot Breakout indicator is a versatile tool designed for technical analysis. It combines principles from Mark Minervini’s trading strategy with Pocket Pivot Breakout patterns. This custom indicator highlights potential breakout opportunities based on specific criteria, helping traders identify stocks that meet both the trend-following conditions of Minervini’s methodology and the momentum-driven Pocket Pivot Breakout setup.

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MARK MINERVINI CRITERIA

The indicator evaluates the stock based on Minervini’s set of rules, which include:


Price above key moving averages:

Close > EMA50

Close >= EMA150

Close >= EMA200


EMA crossovers:

EMA50 > EMA150

EMA50 > EMA200

EMA150 >= EMA200


Price relative to 52-week range:

Close > 30% of 52-week low

Close within 25% of 52-week high


EMA200 relative to one month ago:

EMA200 > EMA200 one month ago


IMPORTANCE OF THIS TEMPLATE

How to Pinpoint Stage 2

As I’ve stated, history clearly shows that virtually every superperformance stock was in a definite uptrend before experiencing its big advances. In fact, 99 percent of superperformance stocks traded above their 200-day moving averages before their huge advance, and 96 percent traded above their 50-day moving averages.

I apply the Trend Template criteria (see below) to every single stock I’m considering. The Trend Template is a qualifier. If a stock doesn’t meet the Trend Template criteria, I don’t consider it. Even if the fundamentals are compelling, the stock must be in a long-term uptrend—as defined by the Trend Template—for me to consider it as a candidate. Without identifying a stock’s trend, investors are at risk of going long when a stock is in a dangerous downtrend, going short during an explosive uptrend, or tying up capital in a stock lost in a sideways neglect phase. It’s important to point out that a stock must meet all eight of the Trend Template criteria to be considered in a confirmed stage 2 uptrend.- By MARK MINERVINI


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POCKET PIVOT VOLUME & GAP-UP DETECTION

1. Pocket Pivot Volume

The Pocket Pivot Volume indicator displays a blue arrow below the candle if:

- The stock's price rises more than 3% from the open.
- The day's volume exceeds the highest red volume of the past 10 days (as per the 'Pocket Pivot' concept by Gil Morales & Chris Kacher).
If only one condition is met, no arrow appears.


How to Use:
- Use the blue arrow as a buy signal when a stock breaks out from a proper base (e.g., cup & handle, Darvas box).
- For existing positions, it signals a continuation buy opportunity.
- Avoid entries if the stock is too extended from the 10-day moving average (10MA).

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2. Gap-Up Detection (>0.5%)

A blue candle appears when a stock gaps up by more than 0.5% from the previous close. This indicator is off by default and can be enabled in settings.

How to Use:
- A strong close on a gap-up day indicates strength.
- Use it alongside proper base breakouts from tight consolidations.
- Avoid entries if the stock is extended from the 10MA.

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Precautions & Key Points
- Avoid long entries in weak market conditions or below the 200MA.
- Prioritize fundamentally strong stocks with solid earnings, margins, and sales growth.
- Buy breakouts from well-formed bases for optimal setups.

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CUSTOMIZABLE TABLE DISPLAY

Displays a table with the results of the Minervini conditions (whether each condition is met or not).

The table can be customized to show the title, position (top, center, bottom), and other visual features.

Mini Mode: When enabled, the table only displays the title when all conditions are met.


BACKGROUND CANDLE HIGHLIGHT

The chart background will be highlighted in a custom color whenever all of the Mark Minervini conditions are satisfied. (Adjust the transparency and color in setting)

This provides a quick visual cue of potential trades.


ALERTS

Alerts are set up for the following conditions:

Mark Minervini Passed: When all of Mark Minervini’s conditions are met.

Pocket Pivot Breakout: When a Pocket Pivot pattern is detected.

Gap-Up Alert: When a gap-up bar appears on the chart.


CUSTOMIZABLE INPUTS

TABLE CUSTOMIZATION

Vertical Position: Choose from "Top", "Center", or "Bottom".

Horizontal Position: Choose from "Left", "Center", or "Right".


MINI MODE

Enable or disable Mini Mode to show only the table title when all conditions are met.


CANDLE HIGHLIGHT COLOR

Select a custom color to highlight candles that meet all the conditions.


POCKET PIVOT SETTINGS

Barsize: Adjust the minimum percentage change for considering a green day.

Pocket Pivot Lookback Days: Specify the number of days to look back for Pocket Pivot patterns.

Gap-up Bar: Option to detect gap-up bars.

Gap-up Value: Set the minimum gap percentage to trigger a gap-up condition.


CONCLUSION

This indicator combines technical analysis with a specific focus on Mark Minervini’s strategies and Pocket Pivot breakouts, providing a comprehensive tool for traders looking for growth stocks with momentum. It offers flexibility in terms of display, customization, and alerts, allowing traders to tailor it to their specific trading style.