Repaints The PAM v5 High Low Chart Setup For ThinkOrSwim

[jhorton56]

where do you see that?

The post above mine says there's a contrarian signal if PAM breaks through your stop loss. So I'm asking, what is the signal? Those charts are very busy. Lines and clouds and arrows everywhere.

 

[TradingNumbers]

The post above mine says there's a contrarian signal if PAM breaks through your stop loss. So I'm asking, what is the signal? Those charts are very busy. Lines and clouds and arrows everywhere.

interesting...i don't see contrarian signals in the indicator.

 

[drphilgood1358]

I think MARK may be the best simple strategy I’ve seen on here. You’re essentially getting 2 levels at all times and those thick bars are price magnets.

PAM is too much to look at though.

 

[SuperContra]

Watched your youtube video on Mark... really brilliant stuff.. Bravo!

 

[drphilgood1358]

Watched your youtube video on Mark... really brilliant stuff.. Bravo!

Which youtube video is it?

 

[SuperContra]

3/30/23: The long-awaited introduction of MARK who is complimentary to PAM. They are a couple. Maybe we can keep both in the same thread. We are beta-testing MARK 1.3 right now which will add auto trendlines with MTF and you can have up to 8 at one time on your chart.

Here is MARK version 1.1: http://tos.mx/I0nLRzK

MARK v1.2 Release Notes:

• Fixed bug on the chart bubbles where some were populating blank
• Fixed chart bubbles in general to reduce overlay on HH/HL etc. and EQH/EQL labels
• Added two supply and two demand zones based on price action, that will dynamically change based on price
• Added two swing high and two swing low zones that have MTF support

New browser options for the new release and how to use them:

• Show Supply demand clouds: pretty self-explanatory
• False len: Number of candle's worth of consolidation needed to form supply/demand. I would not suggest using less than 3 candles or you may get false positives
• Swing high/low zones: Clouds on the local peaks/valleys, these are the zones that may repaint
• Length: length for those high/low zones
• Use Chart Time: MTF toggle for the high/low zones
• Higher Agg: higher time frame to plot zones on if Use Chart Time is off. If Use Chart Time is NO and the Higher Agg is lower than the current time frame, this study will not plot correctly

PAM V5 with MTF: http://tos.mx/ZVFsgyb

PAM V5 with no MTF aggregation: http://tos.mx/CmgAAUi

Updates:
1. No repeat signals -- everything now fires once and holds the signal, so it should crowd your screen less
2. Opposing signals if a high/low has been broken (only caveat right now is that the zone must be established, working on improving this)
3. Added labels for those who want it

Coming soon, MARK (short for Market Structure). PAM's boyfriend and they work great as a couple.

​

Updated 3/1/23: New version of PAM. @Chemmy and I will now be doing scheduled release as PAM has reached a maturity stage. Also, coming soon is MARK (for market structure). He's PAM's boyfriend and they make a great couple. Be on the lookout for it. Here is PAM v.5.1

Pam V5 with MTF: http://tos.mx/ZVFsgyb
PAM V5 with no MTF aggregation: http://tos.mx/CmgAAUi
Updates:
1. No repeat signals -- everything now fires once and holds the signal, so it should crowd your screen less
2. Opposing signals if a high/low has been broken (only caveat right now is that the zone must be established, working on improving this)
3. Added labels for those who want it

2/24/23 New Version of PAM:

1. PAM V4 with no aggregation: http://tos.mx/tcaHwsN
2. PAM V4.4, with MTF: http://tos.mx/M5m6HVg
3. New options: Added the option to show only higher agg, only lower agg, or both - Selecting show current and/or higher agg, this option is obviously only present on the MTF version Added Buy Type option back in, so confirmation and active are both available (present on both versions) - Buy type = Active will fire a signal on the FIRST candle that closes outside of the PAM zone - Buy type = Confirmation will fire only if the previous candle CLOSED outside of the zone Added option to show fibs on the current time frame or aggregate time frame - Just to be clear, you can't show fibs on a time frame that you're hiding -- if you select "show current agg" = No, then you can't show fibs on the lower time frame. If showing both current and higher aggregations, there is now a stronger signal shown if both swing highs/lows overlap -
   Available only on the MTF version as well (edited)

Updated again 2/16/23 to fix a few bugs: http://tos.mx/X6CnxAO

2/3/23 Previous version: http://tos.mx/NiWsfTL

Updated 2/15/23 Mobile version of PAM: http://tos.mx/R5sxex5 Thanks to @SilverWolf

Updated 2/15/23Mobile version of PAM with MA's: https://tos.mx/kBtIkJk Thanks to @SilverWolf

Updated 2/16/23 Current Best Scanner for PAM, thanks to @Juno (Best Day EVER):
http://tos.mx/TM2dTqf

PAM Livestream and I cover strategy. It's an hour long. Please like, subscribe, and comment if possible.

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

Here is a video showing how I setup the indicators I use as additional areas of confluence with the PAM indicator:

So I use a very specific setup. It's kind of a mashup between what John Carter teaches with one of his in Mastering the Trade and TradingWarz Golden Indicator. I've used it for about 2 years now and it's extremely profitable. Honestly, I haven't backtested it but I would love to but I'm just not as technical as most in here. I know it brings me immense profit and on Friday, my port grew 11% using it. It's not a small port either. It's a reversal setup and it's solid with tight stop losses. I use it with a Darvas Box but TOS has a great Darvas Box study.

I'm looking to see if someone can create an indicator for it. To keep this post as short as possible, here is the setup:

1) Only using the last 20 candles on any timeframe.
2) Find the high and low of last 20 candles. As a new candle is created, it disregards anything not in the 20 candles.
3) On the high candle, place a "Priceline" that is the low of that candle (wicks included).
4) Once a candle closes a LL below that "Priceline", place a bubble called "Buy Puts" on that candle. It has to close below the low of the highest candle. It would be great if the candle could be painted a custom color. I use black in keeping with John Carter's concept.
5) A stop loss "Priceline" is drawn on the "High" of the highest candle. This is a great stop loss and keeps risk at a low with confirmation that the trend is not reversing but also keeps you from getting shaken out by MM's.
6) On the low candle, place a "Priceline" that is the high of that candle (wicks included).
7) Once a candle closes a HH above that "Priceline", place a bubble called "Buy Calls" on that candle. It has to close above the high of the lowest candle. It would be great to have this candle also painted a customer color. Again, default should be black.
8) A stop loss "Priceline" is drawn on the "Low" of the lowest candle. Again, another great stop loss to keep your risk at a minimum but also confirms that the trend reversal is not manifesting.

I use this with a Darvas box because I will take my option contracts where the Darvas Box low or high is respectfully. This setup works like a champ when I use it manually but I'm trying to share it with people that I trade with so they don't have to depend on me for their signals. I don't charge for signals nor do I have a discord. I just have a group of traders that I've traded with a long time that see how my port grows and theirs doesn't. I've tried to share this concept with them but many still don't get it and this would be great to share and I would love for you guys to use it too. It's a solid setup and it works very well.

Any help would be greatly appreciated!

Also, I would like the indicator to have a trailing stop loss. I forgot to include this important point.

Once it has moved 50% from current entry, I would like it to put a stop loss at the HH of the last two candles for puts and the LL of the last two candles for calls. This locks in profits to ensure you don't get greedy and lose your gains when the market starts to shift. I do take profits on important pivots like PMH and PML and this morning, it made me $3 on each share.
It's easy to trade 0dte's with this setup as well.

Used the PAM v5 and MARK today trading some SPY 0DTEs. Made one very solid play off of the morning's run today. This system clearly does work, and works well, when it works.

The only issue I have with this setup after a day of use, is the constant repainting of the high/low-bar levels, creating quite a few fake outs to the downside. As the SPY went up today, the boxes were repainting the entire way up, and along with them the signal arrows down, making it difficult to spot the end of the run and time the reversal play. Curious as to if this is all you are using, how you spot those reversals on the 3min with accuracy. I also used TTM and Squeeze pro.

Obviously the setup does work, and I am excited to continue using it. Looking forward to some clarity or a video as to how to use this in real time; like all re-painters, in hindsight the signals look clear as day!

note: I was using the MTF version.

Cheers and thanks again, OGOS. This has a ton of promise, looking forward to making this a full-time setup.

SC

 

[Helles]

Thank you for your hard work OGOS and Chemmy. Good luck on your YouTube channel OGOS!

 

[Helles]

One more question: I looked at the code to try and determine what the wedges signaled. Am I correct in surmising that a wedge prints when a candle closes above or below the highest or lowest printed fib level existing at the time that fib level is exceeded?

And the "Active" selection gives a PAM signal earlier than a "Confirmation" signal?

Thanks.

 

[lolreconlol]

Great to see these added! I would love to see a video on how to use these new tools together. Thank you guys for contributing so much to the community!

Agreed! @OGOptionSlayer any chance of a new video?

 

[lolreconlol]

Thank you, OGOptionSlayer. In the first post, I may miss something, I can only see MARK v1.1 link.

it says v1.1 but when you open the link it says v1.2

 

[jygoli]

does it repaint candles as well ?

 

[MerryDay]

does it repaint candles as well ?

yes

 

[Drmoh1800]

Is there away to set up alert for this study to get notified by messages or app on my phone i tried its not triggering . Or there alternative in trading view i can use for alert thanks

 

[morpheus0]

I dont recommend using the 3 min on a trending day. Itll print on out multiple contrarian signals and repaint them away as the trend continues.

 

[IPA]

It is amazing once you learn how to properly use it.

 

[morpheus0]

Yea saw some of the live demos with 3 min. Looks good if you ignore the signals and work with the 13/38 moving averages. But I dont see how the 30 min and 15 min are used totally just yet.

 

[robertc]

3/30/23: The long-awaited introduction of MARK who is complimentary to PAM. They are a couple. Maybe we can keep both in the same thread. We are beta-testing MARK 1.3 right now which will add auto trendlines with MTF and you can have up to 8 at one time on your chart.

Here is MARK version 1.1: http://tos.mx/I0nLRzK

MARK v1.2 Release Notes:

• Fixed bug on the chart bubbles where some were populating blank
• Fixed chart bubbles in general to reduce overlay on HH/HL etc. and EQH/EQL labels
• Added two supply and two demand zones based on price action, that will dynamically change based on price
• Added two swing high and two swing low zones that have MTF support

New browser options for the new release and how to use them:

• Show Supply demand clouds: pretty self-explanatory
• False len: Number of candle's worth of consolidation needed to form supply/demand. I would not suggest using less than 3 candles or you may get false positives
• Swing high/low zones: Clouds on the local peaks/valleys, these are the zones that may repaint
• Length: length for those high/low zones
• Use Chart Time: MTF toggle for the high/low zones
• Higher Agg: higher time frame to plot zones on if Use Chart Time is off. If Use Chart Time is NO and the Higher Agg is lower than the current time frame, this study will not plot correctly

PAM V5 with MTF: http://tos.mx/ZVFsgyb

PAM V5 with no MTF aggregation: http://tos.mx/CmgAAUi

Updates:
1. No repeat signals -- everything now fires once and holds the signal, so it should crowd your screen less
2. Opposing signals if a high/low has been broken (only caveat right now is that the zone must be established, working on improving this)
3. Added labels for those who want it

Coming soon, MARK (short for Market Structure). PAM's boyfriend and they work great as a couple.

​

Updated 3/1/23: New version of PAM. @Chemmy and I will now be doing scheduled release as PAM has reached a maturity stage. Also, coming soon is MARK (for market structure). He's PAM's boyfriend and they make a great couple. Be on the lookout for it. Here is PAM v.5.1

Pam V5 with MTF: http://tos.mx/ZVFsgyb
PAM V5 with no MTF aggregation: http://tos.mx/CmgAAUi
Updates:
1. No repeat signals -- everything now fires once and holds the signal, so it should crowd your screen less
2. Opposing signals if a high/low has been broken (only caveat right now is that the zone must be established, working on improving this)
3. Added labels for those who want it

2/24/23 New Version of PAM:

1. PAM V4 with no aggregation: http://tos.mx/tcaHwsN
2. PAM V4.4, with MTF: http://tos.mx/M5m6HVg
3. New options: Added the option to show only higher agg, only lower agg, or both - Selecting show current and/or higher agg, this option is obviously only present on the MTF version Added Buy Type option back in, so confirmation and active are both available (present on both versions) - Buy type = Active will fire a signal on the FIRST candle that closes outside of the PAM zone - Buy type = Confirmation will fire only if the previous candle CLOSED outside of the zone Added option to show fibs on the current time frame or aggregate time frame - Just to be clear, you can't show fibs on a time frame that you're hiding -- if you select "show current agg" = No, then you can't show fibs on the lower time frame. If showing both current and higher aggregations, there is now a stronger signal shown if both swing highs/lows overlap -
   Available only on the MTF version as well (edited)

Updated again 2/16/23 to fix a few bugs: http://tos.mx/X6CnxAO

2/3/23 Previous version: http://tos.mx/NiWsfTL

Updated 2/15/23 Mobile version of PAM: http://tos.mx/R5sxex5 Thanks to @SilverWolf

Updated 2/15/23Mobile version of PAM with MA's: https://tos.mx/kBtIkJk Thanks to @SilverWolf

Updated 2/16/23 Current Best Scanner for PAM, thanks to @Juno (Best Day EVER):
http://tos.mx/TM2dTqf

PAM Livestream and I cover strategy. It's an hour long. Please like, subscribe, and comment if possible.

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

Here is a video showing how I setup the indicators I use as additional areas of confluence with the PAM indicator:

So I use a very specific setup. It's kind of a mashup between what John Carter teaches with one of his in Mastering the Trade and TradingWarz Golden Indicator. I've used it for about 2 years now and it's extremely profitable. Honestly, I haven't backtested it but I would love to but I'm just not as technical as most in here. I know it brings me immense profit and on Friday, my port grew 11% using it. It's not a small port either. It's a reversal setup and it's solid with tight stop losses. I use it with a Darvas Box but TOS has a great Darvas Box study.

I'm looking to see if someone can create an indicator for it. To keep this post as short as possible, here is the setup:

1) Only using the last 20 candles on any timeframe.
2) Find the high and low of last 20 candles. As a new candle is created, it disregards anything not in the 20 candles.
3) On the high candle, place a "Priceline" that is the low of that candle (wicks included).
4) Once a candle closes a LL below that "Priceline", place a bubble called "Buy Puts" on that candle. It has to close below the low of the highest candle. It would be great if the candle could be painted a custom color. I use black in keeping with John Carter's concept.
5) A stop loss "Priceline" is drawn on the "High" of the highest candle. This is a great stop loss and keeps risk at a low with confirmation that the trend is not reversing but also keeps you from getting shaken out by MM's.
6) On the low candle, place a "Priceline" that is the high of that candle (wicks included).
7) Once a candle closes a HH above that "Priceline", place a bubble called "Buy Calls" on that candle. It has to close above the high of the lowest candle. It would be great to have this candle also painted a customer color. Again, default should be black.
8) A stop loss "Priceline" is drawn on the "Low" of the lowest candle. Again, another great stop loss to keep your risk at a minimum but also confirms that the trend reversal is not manifesting.

I use this with a Darvas box because I will take my option contracts where the Darvas Box low or high is respectfully. This setup works like a champ when I use it manually but I'm trying to share it with people that I trade with so they don't have to depend on me for their signals. I don't charge for signals nor do I have a discord. I just have a group of traders that I've traded with a long time that see how my port grows and theirs doesn't. I've tried to share this concept with them but many still don't get it and this would be great to share and I would love for you guys to use it too. It's a solid setup and it works very well.

Any help would be greatly appreciated!

Also, I would like the indicator to have a trailing stop loss. I forgot to include this important point.

Once it has moved 50% from current entry, I would like it to put a stop loss at the HH of the last two candles for puts and the LL of the last two candles for calls. This locks in profits to ensure you don't get greedy and lose your gains when the market starts to shift. I do take profits on important pivots like PMH and PML and this morning, it made me $3 on each share.
It's easy to trade 0dte's with this setup as well.

Hello, i have been using this and it works but it still doesnt work at times. When a PAM lines show up, but the price moves above or below it, then PAM recalculates and either moves higher or lower and deletes the previous PAM that originally populated. Is the anyway to make it so PAM does not delete and keeps moving with the price? Maybe have multiple PAM lines populate?

 

[MerryDay]

Hello, i have been using this and it works but it still doesnt work at times. When a PAM lines show up, but the price moves above or below it, then PAM recalculates and either moves higher or lower and deletes the previous PAM that originally populated. Is the anyway to make it so PAM does not delete and keeps moving with the price? Maybe have multiple PAM lines populate?

No, it is not possible to make repainters not repaint.
Read more: https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833

 

[IPA]

Hello, i have been using this and it works but it still doesnt work at times. When a PAM lines show up, but the price moves above or below it, then PAM recalculates and either moves higher or lower and deletes the previous PAM that originally populated. Is the anyway to make it so PAM does not delete and keeps moving with the price? Maybe have multiple PAM lines populate?

There is a MTF Lower version.

 

[Will2Rich]

I am doing something wrong here, my chart doesn't look as clean as the OP's vids and screenshots provided. Can anyone advise what it is I am doing incorrectly, or maybe a different version. I removed my EMA lines but still had the same hard to read display. Thank you in advance!