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Price Action Strength Indicator

Price Action Strength indicator uses the purest form of data available in the market (price action) to indicate the strength of the market move. Reading price action and measuring its strength is a subjective matter and it is a technique that takes years to master. The purpose of the indicator is to make the reading of the price action strength as objective as possible.

The indicator is far more advanced then default oscillators, because in addition to the price movement and its direction, the Price Action Strength indicator looks at the characteristics of the movement. This enables you to see the market through the eyes of an experienced price action trader.

The new version uses the same Price Action Strength values the 1.0 version did, but the 2.0 version determines the market sentiment for you. There are 2 possible sentiments:

  • Predicting/reversal sentiment, which is calculated using the recent peaks/bottoms of the price compared to the Price Action Strength value;
  • Continuation/momentum sentiment, which is calculated using the Price Action Strength momentum and value.

The new version uses these sentiment detections to produce arrows on the chart which show where the market is likely to move next using pure price action analysis.

There are 3 types of arrows/buffers with the new version (one for each direction) in addition to the 2 buffers that were included in the 1.0 version:

  • Strength buffer will calculate the relative strength of the price action compared to the inputted 'Period' amount of past candles. The information is visualized using a line in the separate window. An upward movement of this line indicates a bullish price action strength while a downward movement of this line indicates a bearish price action strength. The higher this line is, the more bullish the price action strength is, the lower the line, the more bearish the price action strength;
  • Overlap buffer will calculate the relative overlapping of the current bars compared to the inputted 'Period' amount of past candles. The information is visualized using a histogram. The higher the histogram, the stronger the price action strength considering the overlapping of the bars. In other words, the higher the histogram gets, the less overlapping exists between the bars, meaning the price has a concrete direction and it doesn't range, which indicates a strong move;
  • Reversal buffer is indicated with a thin upwards/downwards arrow. The reversal arrow indicates that the reversal of the price is likely. Reversal signals are the ones that produce the most false signals, but if correct, they predict the biggest moves. It is recommended to use a risk/reward of at least 2 or bigger when taking these signals;
  • Continuation buffer is indicated with a slanted arrow. The continuation arrow indicates that the market is gaining momentum in the corresponding direction. These signals often appear during an ongoing trend and are meant as a supportive indication that the market will more likely continue on the current course. Continuation signals provide more accurate predictions, but the market moves following are often not huge. It is recommended to use these signals for adding on to trend trades or scalps;
  • Confirmation buffer is indicated with a thick upwards/downwards arrow. The confirmation arrow shows up when both the reversal and continuation signals appears during the same candle. This indicates a highly probable move.

NB! All The Arrows Appear At The Start Of The Candle They Locate On And Will Not Repaint!

The arrows shown by the indicator can be a stand-alone trading system, meaning you can take the trades as the arrows appear. You can also simply use the arrows to determine the market sentiment since price action analysis gives a pretty accurate prediction where the market is likely headed.

Price Action Strength 2.0 works on all the symbols and timeframes, but it is recommended to use it on bigger timeframes (H4 and up) since price action analysis principles work better the bigger the timeframe.


The inputs

  • 'Period' - the amount of candles the indicator uses to compare the current data to.
  • '0-line threshold' - the threshold for the 'Strength' buffer which is used to determine the confirming/momentum sentiment.
  • 'Momentum sentiment candles span' - the candles span for detecting the confirming/momentum sentiment. If during these candles the 'Strength' buffer has made at least a certain % of positive/negative changes, the market is considered having a momentum in that direction.
  • 'Momentum sentiment %' - the % of positive/negative changes in the 'Strength' buffer during the candles span set with the previous input required to confirm a momentum in that direction.
  • 'Fractal size' - the fractal size in one direction. This is used to determine the predicting/reversal sentiment.
  • 'ZigZag confirmation bars' - the amount of closes required for the ZigZag level to be respected to cope with the repainting. ZigZag indicator principles are used to determine the predicting/reversal sentiment.
  • 'Depth' - the depth for the ZigZag indicator.
  • 'Deviation' - the deviation for the ZigZag indicator.
  • 'Backstep' - the backstep for the ZigZag indicator.
  • 'Show once' - if true, the arrows need to alternate. For example after a bullish confirmation arrow appears, there has to be a bearish confirmation arrow present until a new bullish confirmation arrow can appear. If false, the indicator shows all the sentiment signals it can detect.
  • 'Show predicting sentiment change' - if true, the predicting sentiment arrows appear on the chart.
  • 'Show continuation sentiment change' - if true, the continuing sentiment arrows appear on the chart.
  • 'Show confirming sentiment change' - if true, the confirming sentiment arrows appear on the chart.
  • 'Alerts' - if true, the indicator sends an alert notification to the MT4 terminal when any of the arrows appear along with the symbol name the event happened on.
  • 'Push notifications' - if true, the indicator sends a push notification when any of the arrows appear along with the symbol name the event happened on.
  • 'Emails' - if true, the indicator sends an email when any of the arrows appear along with the symbol name the event happened on.
Reviews 4
ZJYY9788
160
ZJYY9788 2020.06.13 19:37 
 

Your trading metrics are great!

eiji0618
116
eiji0618 2019.03.21 09:18 
 

I think this indicator is very good. It is recommended.

Bazi Siguqa
571
Bazi Siguqa 2017.05.04 00:55 
 

I've been using this indicator for over a month now and I tell u, put it on a 4hr chart and u closer to having ATM on your laptop. I mean thats how much I love it

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Price Action Sniper is designed to trade the Price Action on the desired chart time frame. - Trend Reversals. - Trend Continuation. - Brekaouts. - Good tool for Binary Options Price action forms the basis for all technical analysis of a currency pair, commodity or other asset chart. Many short-term traders rely exclusively on price action and the formations and trends extrapolated from it to make trading decisions. Technical analysis as a practice is a derivative of price action since it uses
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WanaScalper MT4
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SFO Trend Racer
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Nihilist and ForexAlien Indicator
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G Cash Market Maker Cycle Identification Dashboard
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(G-Cash Dash ) -Market Makers Cycle and trend identification dashboard  Ideal to help you profit against the market maker. The Perfect tool for Market Makers Method and any trend following strategy  Identify  -Cycle direction, Peak High Peak low - Cycle projection  -Symbol changer- No need to change charts on the dashboard  Status - showing how far into the cycle the pair has been  Real time status - Showing where pair is currently in the cycle in real time . ADR- Average daily range in pips of
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Fibonacci Sniper
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BinarySniper
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Limitless MT4
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KST Know Sure Thing indicator
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KST, Know Sure Thing indicator, is a popular indicator amongst swing traders. The formula was developed by Martin J. Pring. The indicator is used for detecting market momentum and catching huge trends. "KST indicator is useful to identify major stock market cycle junctures because its formula is weighted to be more greatly influenced by the longer and more dominant time spans, in order to better reflect the primary swings of stock market cycle. The concept behind the oscillator is that price tre
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Price Action Triggers
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Price Action Triggers indicator uses the purest form of data available in the market (price action) to determine the entry triggers. The signals are formed by observing the shape, positioning and relative size of the candles. The triggers will appear once either a single or a multi candle setup is detected. It is important to note that the triggers will not observe the broader direction of the market (market sentiment). Thus the indicator should not be used as a stand-alone trading system. The P
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Michele dL
75
Michele dL 2020.12.10 11:44 
 

I had great expectations on this indicator and I purchased it in combination with the PA trigger, but after more than 6 months of use, I must say I was a bit disappointed. First of all, and most importantly, the signals are only valid 50% of the time on H4 and slightly more on D1. This means that you need to take into account of a lot more things when taking a position and decide to close them. It denotes by no means a trend. Also, there are no suggested trading strategies on how to combine the price action with other signals. Combining it with strong SR levels helps a bit, but not so much (in my case, no more than 10% of times). Secondly, these signals are for me just informative, since it fails as a stand alone trading tool even including a SR indicator. Therefore, I would not rate this indicator (combined with PA Triggers) no more than $50/$60.

ZJYY9788
160
ZJYY9788 2020.06.13 19:37 
 

Your trading metrics are great!

eiji0618
116
eiji0618 2019.03.21 09:18 
 

I think this indicator is very good. It is recommended.

Bazi Siguqa
571
Bazi Siguqa 2017.05.04 00:55 
 

I've been using this indicator for over a month now and I tell u, put it on a 4hr chart and u closer to having ATM on your laptop. I mean thats how much I love it

Reply to review
Version 3.2 2018.10.10
Fixed charting error.
Version 3.1 2018.10.10
Version 3.1 Updates:
- Improved indicator buffer calculations, got rid of double signals on chart update.
Version 3.0 2018.09.24
- Compatibility with RM Trading Solutions 'Price Action Triggers' indicator
- Minor bug fixes and improvements
Version 2.0 2017.03.14
NEW Price Action Strength indicator 2.0

The new version uses the same Price Action Strength values the 1.0 version did, but the 2.0 version determines the market sentiment for you. There are 2 possible sentiments:
- Predicting/reversal sentiment, which is calculated using the recent peaks/bottoms of the price compared to the Price Action Strength value;
- Continuation/momentum sentiment, which is calculated using the Price Action Strength momentum and value.

The new version uses these sentiment detections to produce arrows on the chart which show where the market is likely to move next using pure price action analysis.

There are 3 types of arrows/buffers with the new version (one for each direction):
- Reversal buffer is indicated with a thin upwards/downwards arrow;
- Continuation buffer is indicated with a slanted arrow;
- Confirmation buffer is indicated with a thick upwards/downwards arrow.

NB! ALL THE ARROWS APPEAR AT THE START OF THE CANDLE THEY LOCATE ON AND WILL NOT REPAINT!

- The reversal arrow indicates that the reversal of the price is likely. Reversal signals are the ones that produce the most false signals, but if correct, they predict the biggest moves. It is recommended to use a risk/reward of at least 2 or bigger when taking these signals.
- The continuation arrow indicates that the market is gaining momentum in the corresponding direction. These signals often appear during an ongoing trend and are meant as a supportive indication that the market will more likely continue on the current course. Continuation signals provide more accurate predictions, but the market moves following are often not huge. It is recommended to use these signals for adding on to trend trades or scalps.
- The confirmation arrow shows up when both the reversal and continuation signals appears during the same candle. This indicates a highly probable move.

The arrows shown by the indicator can be a stand-alone trading system, meaning you can take the trades as the arrows appear. You can also simply use the arrows to determine the market sentiment since price action analysis gives a pretty accurate prediction where the market is likely headed.

Price Action Strength 2.0 works on all the symbols and timeframes, but it is recommended to use it on bigger timeframes (H4 and up) since price action analysis principles work better the bigger the timeframe.