INVITE-ONLY SCRIPT
PAL indicator - Price Action Lines
Updated
This is the PALindicator - this is where the price action happens, PAL stands for Price Action Lines
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What is this indicator showing?
- there are 4 lines to work with
- red and yellow lines represents bearish levels
- blue and green lines represents bullish levels
- you can understand this indicator as dynamic support & resistance lines
- it will show you easy to read support & resistance breakouts
- it's something between pivot points and Fibonacci Retracement lines
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How does this indicator work?
- as mentioned before, there are 4 lines, on my opinion the blue and the green lines show you a continuation of a bullish trend
- the yellow and the red lines show you a continuation of a bearish trend
- if your crypto pair, forex pair, stock or any other instrument close above the blue line, its an buy opportunity
- if your crypto pair, forex pair, stock or any other instrument close above the yellow line, its an sell opportunity
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Which timeframe you recommend?
- we recommend to use this indicator for daily timeframe
- we also recommend to use this indicator for weekly and monthly timeframe
- in the indicator settings you can change the indicator timeframe from 250 (daily chart) to 52 (weekly chart) and 12 (monthly chart)
- after changing the indicator timeframe you have to change the chart timeframe to daily, weekly or monthly
- it's also possible to use this indicator intraday, but we don't recommend to use it with instruments which you can't trade (24/5 24/7)
send me a message for a free trial
----------
What is this indicator showing?
- there are 4 lines to work with
- red and yellow lines represents bearish levels
- blue and green lines represents bullish levels
- you can understand this indicator as dynamic support & resistance lines
- it will show you easy to read support & resistance breakouts
- it's something between pivot points and Fibonacci Retracement lines
----------
How does this indicator work?
- as mentioned before, there are 4 lines, on my opinion the blue and the green lines show you a continuation of a bullish trend
- the yellow and the red lines show you a continuation of a bearish trend
- if your crypto pair, forex pair, stock or any other instrument close above the blue line, its an buy opportunity
- if your crypto pair, forex pair, stock or any other instrument close above the yellow line, its an sell opportunity
----------
Which timeframe you recommend?
- we recommend to use this indicator for daily timeframe
- we also recommend to use this indicator for weekly and monthly timeframe
- in the indicator settings you can change the indicator timeframe from 250 (daily chart) to 52 (weekly chart) and 12 (monthly chart)
- after changing the indicator timeframe you have to change the chart timeframe to daily, weekly or monthly
- it's also possible to use this indicator intraday, but we don't recommend to use it with instruments which you can't trade (24/5 24/7)
send me a message for a free trial
Release Notes
some small changes in the settingsold: 1,2,3,4
new: red, yellow, blue, green
Invite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact UnknownUnicorn5396600 for more information, or follow the author's instructions below.
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Author's instructions
″For a free trial, send me a message.
You can contact me also on twitter @PALindicator
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Disclaimer
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