PAL indicator - Price Action Lines

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)

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Phát hành các Ghi chú:

some small changes in the settings
old: 1,2,3,4
new: red, yellow, blue, green