Repaints The PAM High Low Chart Setup For ThinkOrSwim

[STB]

What timeframe where you using for the PAM?

1100 TICK

 

[Adobe8]

1100 @ STB love the setup you have can you share your chart would like to test it

 

[erm]

So yes, full disclosure there is still a range within the length where if a higher high or lower low if established, the zones will re-establish. You may find when price is running, that zones will try to establish during pauses for instance, only to re-draw once the trend continues. Personally, I would recommend using this with other indicators or levels just as you're doing in your screenshot to find your best risk-to-reward entry, rather than relying on it solely for your entries.

--Side note, is that a study done on your volume profile to show a level at the LVNs there? If so, would you mind sharing? It looks really interesting.

Hello! Can you please tell me if it is possible to make sure that after the signal to buy or sell (arrow turned on), this same range and a signal to open the deal did not disappear after updating the high or low of a given range of candles?

 

[rs97229]

Hello OptionsSlayer/Chemmy,
I am a newbie and enjoyed watching your video and read through all the 19 pages of this very interesting PAM indicator. In the 3min chart on SPY from the YT video, supposing we take the Buy call (arrow on the green box) and SPY keeps climbing and the red resistance box starts to form (but the sell put signal has not fired yet), do we close out the long trade (or wait for the down arrow to appear). Just wanted to know how you have been trading.

Thanks

RS

PS: The video resolution is not sharp though.

 

[OGOptionSlayer]

Here is the second video covering the strategy and basic concepts in using PAM:

 

[OGOptionSlayer]

@OGOptionSlayer
I went through all the posts and can't remember which one it was but you mentioned ICT concepts and am wondering if you were referring to Order blocks or Fair Value gaps or something else.. TIA

I watch for FVG's all day long. I'm still going through ICT's 2022 Mentoring. It's a simple concept but difficult because he is so long-winded and goes off on like 1000's of tangents before making his point. I would just like a Cliff's notes version of that dude speaking. But yeah, probably mentioned FVG's somewhere as I really like them and see them executed constantly throughout the day.

 

[OGOptionSlayer]

So the SL is the bottom of the box (for longs), what would be a target and exit for this strat? Thank you!

See the video I just posted.

 

[kartik2272]

Here is the second video covering the strategy and basic concepts in using PAM:

Love to have the entire chart set up (including all TOP (inset strategies). Please share. Thank you

 

[tenacity11]

I watch for FVG's all day long. I'm still going through ICT's 2022 Mentoring. It's a simple concept but difficult because he is so long-winded and goes off on like 1000's of tangents before making his point. I would just like a Cliff's notes version of that dude speaking. But yeah, probably mentioned FVG's somewhere as I really like them and see them executed constantly throughout the day.

I also follow the concepts and this is actually a very nice addendum with them especially the liquidity grabs. I used this yesterday (with stocks) and caught 2 nice trades on a 5m but using order blocks. I may have some things I've saved related to notes. I went through the 2022 mentorship and yes it is long winded but well worth it.

 

[rfb]

Here is the second video covering the strategy and basic concepts in using PAM:

Nice video and great work with this strategy! I noticed when I followed your settings I had a huge a difference between the 13 and 48 EMA's. Everything else lined up perfectly. Not sure if I may have missed it, but the EMA difference was ETH was disabled. Once I enabled it, the EMA's were aligned to your video. All good!

 

[kartik2272]

Nice video and great work with this strategy! I noticed when I followed your settings I had a huge a difference between the 13 and 48 EMA's. Everything else lined up perfectly. Not sure if I may have missed it, but the EMA difference was ETH was disabled. Once I enabled it, the EMA's were aligned to your video. All good!

Love to have the entire chart set up (including all TOP (inset upper strategies). Please share. Thank you

 

[SilverWolf]

Dear @Chemmy and/or @halcyonguy
Could I bother you a sec? I am trying to develop a strategy with PAM Ive got the open trade signal but am having a hard time pinning down the close signal. Thank you for developing this indicator.. really. I will post a bit of the code so you can see how I am attempting. Any assistance and I would be most grateful..

#======== SIGNALS ====================================================================
input HowManyBars = 1;
input price = close;
input SignalNumber = 0;

def BuySignal =
if What2Buy >= 0 and price[SignalNumber] crosses above low1high[SignalNumber] within HowManyBars bars
then 1
else 0;

def SellSignal =
if What2Buy <= 0 and price[SignalNumber] crosses below high1low[SignalNumber] within HowManyBars bars
then 1
else 0;

def BuyExit =
if price crosses below low1
#if price == 0
then 1
else 0;

def SellExit =
if price crosses above high1
#if price == 0
then 1
else 0;

#======== STRATEGY ORDERS =============================================================
input UseExits = no;
def orderPrice = open[-1];

AddOrder(OrderType.BUY_TO_OPEN, condition = BuySignal and RTH, price = orderPrice, contracts, tickcolor = Color. GREEN, arrowcolor = Color.GREEN, name = "Long");

AddOrder(OrderType.SELL_TO_CLOSE, condition = UseExits and BuyExit, price = orderPrice, contracts, tickcolor = Color. GREEN, arrowcolor = Color.GREEN, name = "LongClose");

AddOrder(OrderType.SELL_TO_OPEN, condition = SellSignal and RTH, price = orderPrice, contracts, tickcolor = Color.RED, arrowcolor = Color.RED, name = "Short");

AddOrder(OrderType.BUY_TO_CLOSE, condition = UseExits and SellExit, price = orderPrice, contracts, tickcolor = Color.RED, arrowcolor = Color.RED,  name = "ShortClose");

here is a snip to show you the line I am referring too

 

[Focus]

Nice video and great work with this strategy! I noticed when I followed your settings I had a huge a difference between the 13 and 48 EMA's. Everything else lined up perfectly. Not sure if I may have missed it, but the EMA difference was ETH was disabled. Once I enabled it, the EMA's were aligned to your video. All good!

What's ETH?

 

[FOTM_8888]

What's ETH?

ETH means: Extended Trading Hour

 

[OGOptionSlayer]

@Chemmy We have a group member in the discord that as we are putting PAM into practice, we have found tremendous value of being able to have two timeframes for buy call and buy put signals. So the picture will probably explain it better but essentially having a 3m timeframe in a 15m timeframe and having them different colors is amazing and really allows you to fully kill it with PAM. Take a look and is it something we can do on the next iteration?

 

[OGOptionSlayer]

Love to have the entire chart set up (including all TOP (inset strategies). Please share. Thank you

Here is a copy of my flexible grid.

http://tos.mx/MaoiC1o

 

[OGOptionSlayer]

Nice video and great work with this strategy! I noticed when I followed your settings I had a huge a difference between the 13 and 48 EMA's. Everything else lined up perfectly. Not sure if I may have missed it, but the EMA difference was ETH was disabled. Once I enabled it, the EMA's were aligned to your video. All good!

Yes you must have extended hours enabled. PAM is much less effective, giving its non-lagging nature, if you are not trading with extended hours.

 

[OGOptionSlayer]

I also follow the concepts and this is actually a very nice addendum with them especially the liquidity grabs. I used this yesterday (with stocks) and caught 2 nice trades on a 5m but using order blocks. I may have some things I've saved related to notes. I went through the 2022 mentorship and yes it is long winded but well worth it.

I would love to see them.

 

[Kislayakanan]

@OGOptionSlayer : Thank you for the amazing indicator. Couple of questions:
1. On 3 Min timeframe are we using 5 min aggregation?
2. I see in your flexible grid that you have the added indicator twice, any reason why?
3. Is 3 min timeframe with 20 bar is the best setting so far?

 

[OGOptionSlayer]

@OGOptionSlayer : Thank you for the amazing indicator. Couple of questions:
1. On 3 Min timeframe are we using 5 min aggregation?
2. I see in your flexible grid that you have the added indicator twice, any reason why?
3. Is 3 min timeframe with 20 bar is the best setting so far?

I've added two different layers to the timeframe. A 3m and a 15m so that I can catch the trend early and know to stay in it as the trend moves directionally.

Honestly, my favorite timeframe using this now is the 3m.