using one variation of pivots has helped me become a better trader but I do at times have to "tweak" the numbers when battling the "BOTS"
I believe this was one of them: http://www.cass.city.ac.uk/media/stories/resources/Magic_Numbers_in_the_Dow.pdf
Wha?? I think you have it backwards...if it works it works, regardless of what the "science" says. That's like back in the day, the "science" said cigarettes didn't promote cancer....hmmm...people still got cancer though. I think reality trumps theory any day. That's just me though, I'm crazy like that.
Pivots have significance. Key is: Bid/ask size (Volume) Underlying market condition. Markets. (FX and E-minis... lower the cost of entry 'popularity', the higher the strength)