[PAID Request] Price Action Momentum Indicator

Post by **DigitalCrypto** » Mon Mar 28, 2016 10:13 pm

Thank you Tommaso,

I just did another video to explain it. I will add it to the first post as well.

-David

fxcba · Post by **fxcba** » Tue Oct 04, 2016 6:50 pm

Hello, I'm trying to make an EA on this indi but I don't know how to reference the high and low of the PAM candle, so far EA opens a trade on the breakout of last high or low in the correct direction but not at the BO of the correct candle. I know the PAM part of code is in wrong place but I don't know where is the right one.
Regards

forextraderaz · Post by **forextraderaz** » Tue Oct 04, 2016 7:30 pm

fxcba » Tue Oct 04, 2016 11:50 am wrote:Hello, I'm trying to make an EA on this indi but I don't know how to reference the high and low of the PAM candle, so far EA opens a trade on the breakout of last high or low in the correct direction but not at the BO of the correct candle. I know the PAM part of code is in wrong place but I don't know where is the right one.
Regards

An EA has already been made for this indicator by Steve in this thread and he posted a link to it.

fxcba · Post by **fxcba** » Tue Oct 04, 2016 7:39 pm

forextraderaz wrote:An EA has already been made for this indicator by Steve in this thread and he posted a link to it.

Ohhhh, sorry I skip that post

Post by **SteveHopwood** » Wed Dec 20, 2017 10:51 pm

I am writing here to attract attention to this thread again.

I re-discovered it when adding Rene's latest indi to the list of easy-to-find Rene posts I have in his forum and noticed my link.

I viewed David's video in post 1 and realised that Pamsy misses a couple of essential features i.e: only trade a PAM candle once and close the trade once the market starts to move against it.

Nothing much is going to happen in the markets for a couple of weeks. It is going to be a dull time for those of us without 3,000,000 relatives to entertain. I have added the missing features to Pamsy and will leave her running over the break just to see what happens.

Those of you with time on your hands over the next couple of weeks, view David's videos in post 1. Try a bit of visual craptesting and see if there is something here to interest you. I will post an updated Pamsy in time for the New Year. I might even add the usual Bob stuff and create Holy Graily Bob 'n Pam eventually but we shall see; I am keeping it KISS for now.

Happy Christmas break to you all.

Incidentally, in case any of you wonder why all my non-evicerating posts end with

here is the reason. Tommaso first uploaded the smilie a few years ago in the run up to Christmas; post-Christmas, he and I both figured that every day at SHF is a sort-of Christmas day for any member with a firing brain cell, so I adopted it.

forextraderaz · Post by **forextraderaz** » Thu Dec 21, 2017 2:41 pm

SteveHopwood » Wed Dec 20, 2017 3:51 pm wrote:I am writing here to attract attention to this thread again.

I re-discovered it when adding Rene's latest indi to the list of easy-to-find Rene posts I have in his forum and noticed my link.

I viewed David's video in post 1 and realised that Pamsy misses a couple of essential features i.e: only trade a PAM candle once and close the trade once the market starts to move against it.

Nothing much is going to happen in the markets for a couple of weeks. It is going to be a dull time for those of us without 3,000,000 relatives to entertain. I have added the missing features to Pamsy and will leave her running over the break just to see what happens.

Those of you with time on your hands over the next couple of weeks, view David's videos in post 1. Try a bit of visual craptesting and see if there is something here to interest you. I will post an updated Pamsy in time for the New Year. I might even add the usual Bob stuff and create Holy Graily Bob 'n Pam eventually but we shall see; I am keeping it KISS for now.

Happy Christmas break to you all.

Incidentally, in case any of you wonder why all my non-evicerating posts end with here is the reason. Tommaso first uploaded the smilie a few years ago in the run up to Christmas; post-Christmas, he and I both figured that every day at SHF is a sort-of Christmas day for any member with a firing brain cell, so I adopted it.

Thanks, I remember testing Pamsy EA a while back and thought it has potential and looking forward to trying the updated version. Even thought Christmas can be a boring time for traders maybe it will keep you a bit entertained....

Post by **Bruster400** » Wed Feb 07, 2018 11:36 pm

Hi,

I know this is an old thread but I watched David's videos following Steve's post before Xmas and I have only just got round to looking at this system. I threw the indicator on a chart and tried to follow along with David's video but I couldn't help feeling that the indicator was missing some key aspects of how this is traded. Before I go on, this is in no way a criticism of David's or Rene's work on this, I'm merely trying to understand this system.

The Major difference I spotted was the Daily Open - PAM1.3 doesn't make any reference to it? The other, more subtle difference was that from what I understood of the method, the latest signal has to be on a lower low or higher high vs a previous x number of candles - David's rules state: "3)Correct PAM candles are the highest high or the lowest low of the last 21 candles." Although this rule doesn't line up exactly with the videos, it's another filter that's not currently in the indicator - and therefore I'm guessing it's not in the EA either?

To see what the signals would look like with these changes added I've coded a new indicator. OOTB it paints the same signals as PAM1.3 but there are options to add the extra filters individually. I've also added the option to draw the entry and stop lines along with prices for these.

Not sure if anyone is likely to come back to this thread or not, but if you do take a look, let me know if you think this is an improvement worth pursuing.

Regards

Bruster

Post by **DigitalCrypto** » Thu Feb 08, 2018 1:23 am

Price moves to a point and bounces or retreats to trade at the mean before making the next move. The mean is where the price chop occurs. Putting a sell order beneath the PAM candle allows you be to be slipped into a scalp trade when the move happens in your favor. It is an attempt to sell the low without getting trapped in a reversal.

My apologies that I could not be more clear.

Post by **Bruster400** » Thu Feb 08, 2018 10:12 am

DigitalCrypto » Thu Feb 08, 2018 2:23 am wrote:
My apologies that I could not be more clear.

David, not at all. Your video and posts were clear it's just that we didn't understand it the first time round!!

All I'm doing here is trying to help get the indicator closer to the system that you've described so that we can try it out. Interestingly, this system is similar to how I've recently discovered fractals should work. I always thought that they were reversal signals but in fact they just show pullbacks from areas of resistance that can then serve as a future breakout level. I'm not suggesting any changes, just sharing something that I'm sure I'm not the only one to have got completely the wrong way round!!

correct.png

Incorrect.png

Post by **DigitalCrypto** » Sat Feb 10, 2018 5:09 pm

It really depends on the context of the bias. Bias being the timeframe just above the one we are trading. That being said, the most critical thing is that price must be moving and closing lower or higher on the higher timeframe. It does not really do any good to trade inside bars.

If you need me to expand upon it some more then just let me know. I never really saw much enthusiasm here on this thread which means I probably failed to explain it in a way that could be easily understood by everyone.

- David