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Mean Shift Pivot ClusteringCore Concepts
According to Jeff Greenblatt in his book "Breakthrough Strategies for Predicting Any Market", Fibonacci and Lucas sequences are observed repeated in the bar counts from local pivot highs/lows. They occur from high to high, low to high, high to low, or low to high. Essentially, this phenomenon is observed repeatedly from any pivot points on any time frame. Greenblatt combines this observation with Elliott Waves to predict the price and time reversals. However, I am no Elliottician so it was not easy for me to use this in a practical manner. I decided to only use the bar count projections and ignore the price. I projected a subset of Fibonacci and Lucas sequences along with the Fibonacci ratios from each pivot point. As expected, a projection from each pivot point resulted in a large set of plotted data and looks like a huge gong show of lines. Surprisingly, I did notice clusters and have observed those clusters to be fairly accurate.
Fibonacci Sequence: 1, 2, 3, 5, 8, 13, 21, 34...
Lucas Sequence: 2, 1, 3, 4, 7, 11, 18, 29, 47...
Fibonacci Ratios (converted to whole numbers): 23, 38, 50, 61, 78, 127, 161...
Light Bulb Moment
My eyes may suck at grouping the lines together but what about clustering algorithms? I chose to use a gimped version of Mean Shift because it doesn't require me to know in advance how many lines to expect like K-Means. Mean shift is computationally expensive and with Pinescript's 500ms timeout, I had to make due without the KDE. In other words, I skipped the weighting part but I may try to incorporate it in the future. The code is from Harrison Kinsley . He's a fantastic teacher!
Usage
Search Radius: how far apart should the bars be before they are excluded from the cluster? Try to stick with a figure between 1-5. Too large a figure will give meaningless results.
Pivot Offset: looks left and right X number of bars for a pivot. Same setting as the default PulseWire pivot high/low script.
Show Lines Back: show historical predicted lines. (These can change)
Use this script in conjunction with Fibonacci price retracement/extension levels and/or other support/resistance levels. If it's no where near a support/resistance and there's a projected time pivot coming up, it's probably a fake out.
Notes
Re-painting is intended. When a new pivot is found, it will project out the Fib/Lucas sequences so the algorithm will run again with additional information.
The script is for informational and educational purposes only.
Do not use this indicator by itself to trade!
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Fibonacci Ghost CloudHello my nocturnal minions.... This is your dark knight in the crypto light.... your alpha and omega, your crypto king reigning wisdom down from my gilded throne of code!
Enjoy the spooky Fibonacci Ghost Cloud. Shadows of previous Fibonacci look-back levels provide possible entries, stop losses, and take profit levels for intrepid crypto travelers.
DESCRIPTION
This indicator is front weighted by using the Fibonacci integer sequence..... 2,3,5,8,13. Each green and red "ghost" is a reflection of the highest highs and lowest lows of a given FIB lookback. The guide lines, red and green, are averages of the highs (green) and the lows (red).
USAGE
The "ghosts" can be used as possible support and resistance levels. They diminish in intensity (they become more transparent) as these ghosts move back further in time. When multiple greens overlap it is an indicator of a lot of recent price action at that level. The same is true of overlapping red.
In addition, the amount of ghosts above and/or below are indicative of recent price action taking place at a higher or a lower level
CURRENT PRICE IS LOWER THAN RECENT PA - There will be many green ghosts above, but few or no red ghosts below.
CURRENT PRICE IS HIGHER THAN RECENT PA- There will be many red ghosts below, but few or no green above
TAKE PROFIT - Possible take profit targets could be on the approach to a previous green level
STOP LOSS - Possible stop losses could be at lower red level
Like Bollinger bands, the green and red "average" lines can help to indicate that a security is oversold or underbought according to how close it is to a recent average. Nearing the red line can indicate that the security is oversold - and the converse is also true.
DERIVATIONS
Within the code is additional greyed-out lines which could be activated allowing you to target the open or close, instead of the High-Low - the current settings
SETTINGS:
You can change the FIB levels and substitute your own integer sequence to use as the lookback.
Feel free to offer feedback and/or suggest features you would like to have added. Indicator

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