I do not know anything about the 'pendulum',
But I think evryone here, must notice that,
based on the 'regression toward mean', theory,
Any chart of 'flatbet' of any 'system',
will show, up and down line.
The line will, show to N.East, or Eastward, or S.east.
BUT, one thing that is certain,
is, there will be 'WAVES".
There will never a straight line,
there always a "mild-waves", or 'violent-waves'..within the major wave.
The MAJOR-line itself, will up and down, toward NE, or east, or SE.
Thus the pendulum, or any constantly winning strategy,
will take advantages of this 'up and down' waves.
Its like 'sell high, buy low', or take advantages of the rtm waves,
no matter whether, the overall-line may point upward, or downward.
Or if without chart, we could see that the profit, or rather losses,
will also up and down.
say in OVERSIMPLIFIED example,
if we bet flatbet, EC, we will see, that the losses will,
go down to, say, -9,-10,-11,-12, then -11,-10,-9,-8,-7,-6,-5, then down to, -6,-7,-8,-9,-10...and up and down, and up and down, and maybe up to positive, +1,2,3,4,5,6,7,8,9,10, then down to the negative again....
Thus based on ECART extreme, we take RISK, that the profit/loss, will "turn"...
Just my 1cent view.