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Re: Divergence add

#2
billbroch wrote:
Tue May 19, 2020 11:01 am
Can anyone add divergence to this indicator? It looks very promising. Thanks for any help you can give.
Try this one. Added the trigger to the mtf too. On mtf the divergence on values is not working, will fix that tomorrow, running out of time.
GBPUSDM15.png
palnd_v1.56_nmc divergence.ex4
(83.42 KiB) Downloaded 57 times

Re: Divergence add

#3
mrtools wrote:
Tue May 19, 2020 12:06 pm
billbroch wrote:
Tue May 19, 2020 11:01 am
Can anyone add divergence to this indicator? It looks very promising. Thanks for any help you can give.
Try this one. Added the trigger to the mtf too. On mtf the divergence on values is not working, will fix that tomorrow, running out of time.
This is already great. Thanks. I don't know why but this indicator just causes the market to make sense to me. What exactly is this indicator doing or measuring?

Re: Divergence add

#4
billbroch wrote:
Wed May 20, 2020 9:31 am
mrtools wrote:
Tue May 19, 2020 12:06 pm


Try this one. Added the trigger to the mtf too. On mtf the divergence on values is not working, will fix that tomorrow, running out of time.
This is already great. Thanks. I don't know why but this indicator just causes the market to make sense to me. What exactly is this indicator doing or measuring?
Fixed the divergence and added the lighter mtf.
palnd_v1.56 divergence.ex4
(85.14 KiB) Downloaded 195 times
GBPUSDM15.png

Re: Divergence add

#5
mrtools wrote:
Thu May 21, 2020 1:21 am
billbroch wrote:
Wed May 20, 2020 9:31 am


This is already great. Thanks. I don't know why but this indicator just causes the market to make sense to me. What exactly is this indicator doing or measuring?
Fixed the divergence and added the lighter mtf.
Thank you mrtools, very well done.


Re: Divergence add

#6
I haven't seen this indicator for almost a decade. That was from the TSD days! Nice revival Mrtools & Billbroch :)

Let's recap on Adeo's original post back in 2011 about this indicator.

From Forex-TSD:

The PAL is an indicator of Current Market Values

Thank you to the providers and members of this forum.

This forum has avoided the tendency to deteriorate into negatives witnessed on just about every other forum.

Perhaps that happens when you charge a fee.

The contributors and participants here are simply refreshing; a tip of my hat to Mladen in particular.

With little to offer in return, PAL is presented in hopes that those interested can help take it to its potential.

Disclaimer: a selfish motivation seeks to improve PAL results for trading before governments prevent our access to the markets.

Trusting the moderators can remove the thread if it proves worthless, here goes...

A picture is worth 1,000 words:
pal_indicator_illustration_mt4.jpg
...a few more words:

PAL (PipsALot): near real-time indication of market sentiment with occasional leading indication

PAL (core value) is formed from the High-PreviousLow and Low-PreviousHigh

Combined and rearranged, the result is High+Low-PreviousHigh-PreviousLow (H+L-PH-PL)

In trends, the bias results in a positive value for ascending trends and negative values for descending trends

During ranging action or when transitioning between trends, the value is near zero

PAL essentially indicates the market sentiment – at the present time

Sometimes PAL is a leading indicator, the change in market sentiment is reflected in PAL before it can be seen in the Close

Other values derived from PAL and related parameters (all are works in progress):

  • aPAL-average of PAL over n bars
  • PALArea – Integral (sum or area) of PAL over n bars
  • PALSpan – ATR-like value derived from H & L
  • PALTOW – Tug-O-War, formed from ratio of pH & pL
  • PALMomentum – composite value of PAL, PALSpan (and Volume?)
  • PALModerated – uses Close instead of H & L
  • PALDir – Direction; only dominant vector presented

As sentiment must occur first in lower timeframes, multi-timeframe views of PAL confirm strong sentiment changes

Credit Mladen for his extreme scrubbing and cleanup of the indicator(s).
Myfxbook live results (using Mrtools' indicators) new 2020 account coming soon.
Need custom MT4 coding? Send a PM to Mrtools or post here for a quote!

Re: Divergence add

#8
Jimmy wrote:
Thu May 21, 2020 4:55 pm
I haven't seen this indicator for almost a decade. That was from the TSD days! Nice revival Mrtools & Billbroch :)

Let's recap on Adeo's original post back in 2011 about this indicator.
Thanks for the description of what this indicator is!

Re: Divergence add

#9
billbroch wrote:
Mon May 25, 2020 2:36 am

Thanks for the description of what this indicator is!
Thank you for reading through it and reviving it B, and of course thank you to Forex-TSD :D
Myfxbook live results (using Mrtools' indicators) new 2020 account coming soon.
Need custom MT4 coding? Send a PM to Mrtools or post here for a quote!

Re: Divergence add

#10
mrtools wrote:
Thu May 21, 2020 1:21 am
billbroch wrote:
Wed May 20, 2020 9:31 am


This is already great. Thanks. I don't know why but this indicator just causes the market to make sense to me. What exactly is this indicator doing or measuring?
Fixed the divergence and added the lighter mtf.
This Looks really useful, Thank you Mr. Tools, would it be possible to add the option for arrows / alerts on the Cross?


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