Mikeo82

Profit Accumulator Main Indicator

MAIN INDICATOR (PAMI)

I've been using this indicator for several months now and allowed me to make some good profits as a result of this. I use this indicator in conjuntion with a number of others to allow me to make an informed decision on which trades to take and which are false signals.

The main indicator uses a number of methods including trend, momentum, volatility and volume to identify entry points into the market and exit points. The exit points are an estimate and your own target profit levels should also be used.

The following keys are used on the chart:

  • Green Up Arrow: Long Entry
  • Green Cross: Long Exit
  • Red Down Arrow: Short Entry
  • Red Cross: Short Exit

The main indicator is set up with custom alerts for when a long or short entry and exit signal is triggered.

I've been using this successfully on the one hour FX charts, but seems to work equally as well on higher or lower time frames (not less than 15min).

The main indicator has a number of tools in the settings that can be used to assist with trading. This includes

  • Bollinger Bands
  • Current Moving Averages
  • Multi-Timeframe Moving Averages
  • Chandelier Exits.

The chart is shown with the Bollinger Band overlay.

The other indicators which are part of the suite are shown on the website which is highlighted in my signature at the bottom of the page. Purchase of the main indicator gives access to the full suite of eight indicators. I use the other indicators to confirm the direction of the trade and to determine if I want to trade or not. I use it along with the 2min, 15min and 4hr timeframes to identify the best entry window and how long I'm likely to be in the trade.

Support can be provided via private message or in the comments below.

The links are provided below for access to the indicator.
Release Notes: Parabolic SAR has been included as an overlay to the main indicator providing more optionality for the user.
Release Notes: The indicator alerts have been reconfigured to reduce the number of false alerts.

The indicator now contains all of the Trend Indicator analysis functions to reduce the number of indicators on one screen for new TradingView users. The analysis functions now include Support and Resistance (RSI), Trend Line Indication (RSI), Parabolic SAR and Ehlers Instantaneous Trend Line.
Release Notes: Support and Resistance Changed to provide much cleaner S&R levels for assistance in deciding to make a trade.
Release Notes: Indicator has been updated to provide a simpler Support and Resistance approach based on volume. This is discussed in the YouTube channel.
Release Notes: There have been several changes to this indicator to improve the quality and consistency of results:

  • There are now different trade exit strategies that you can alter within settings: MACD, RSI and Momentum. You can alter these depending upon your strategy.
    A single, multicolour (green/red) trend line (Ultimate Moving Average) has been added to the settings for different EMA cross over points for better visualisation.

The indicator now aligns much better to the Profit Accumulator suite of indicators.
Release Notes: The Profit Accumulator Main Indicator has been updated significantly to identify early trends.

The indicator should now be used in conjunction with the Profit Accumulator Trend Slope indicator to identify the best.

I'll be publishing guidance on how to use the indicator and the rule sets for using.
Release Notes: The Profit Accumulator has been massively changed since the last version. The following changes have been included:

  • A new beginner trading option. With this option there is greater confluence required before triggering a buy or sell signal. The exit signals are also based on the first movements of the stochastic which results in fewer losses for any beginners trading or using the app.
    When the beginner option is not chosen it gives the user three different options for exiting a trade looking at short, medium and longer term.
  • The short term is based on movements in the stochastic, medium term are based on movements in the MACD and QQE and the longer term is based on the momentum and moving average changes.
  • All new statistics box which features some important figures for featuring in your trading, such as bearish and bullish momentum, average directional index figures, the average true range and what the trends are doing on different timeframes. You'll also notice the numbers in the brackets. These provide the values from two bars previous (for the current timeframe). The number of bars since a trend change on the other timeframes are also provided. These values can all be modified within the settings.
  • As part of the statistics box, estimated buy and sell entry points have been provided. These are based on the ATR at the time and can be 0-100% of the current ATR value. This helps me with determine which of the signals are false breakouts.
  • Inbuilt support and resistance based on fibonacci levels now included. The timeframe and number of bars back can be set within the settings to provide better levels and this is something that you may want play with. The fib extensions have also been provided however depending on the settings, these may be on the wrong side of the chart.

I use the indicator with my other freely available indicators to make my decisions when I'm trading.

Any comments or future ideas are more than welcome.

Cheers

Mike
Release Notes: A number of additions have been made to the statistics box to provide more information for making better decisions.

The risk management option has also been added for those who want a quick pip calculator when entering your trades. Stop loss and take profit options are added, however, these would need to be manually drawn for now.
Release Notes: Huge update of the script to include the following modifications:

- Currency strength statistics box to identify rising and falling levels.
- Enhanced statistics box to show the current strength of a trend and across multiple timeframes.
- Longer term trend filter which only provides signals in the longer timeframe direction (i.e. daily, weekly etc)
- Two new support and resistance features (first based around key Fibonacci levels and the second based around key movements in ATR and volatility)
- Risk management box which automatically calculates lot sizes based on bank balance and expected SL/TP.
- Multi timeframe moving average crossover added to highlight areas of potential interest.

Currently putting together a video intro to the indicator that will be available soon.
Release Notes: Option added for both basic and advanced users. Basic provides more confluence whereas advanced provides a number of early warning signals (some of which can be false) where price action would need to be used along side it.
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 Mikeo82 for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.

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