Andrei,
The multi-pivots are very effective in Forex. See John Person's books and website for this.
But you'd need to do such an analysis on Forex Futures with adjusted continuous contracts. I'm afraid ETF analysis would be a complete loss of time and even misleading since the pivots are very sensitive to the close, highs and lows. ETFs will give you the close, highs and lows for only 6 1/2 hour a day while Forex is open 24/24.
Billy