PAM UR1 DR1 (Forex)

PAM UR1 DR1 (Forex) Indicator

This indicator is based on the Price Action Manipulation (PAM) strategy, specifically focusing on the UR1 (Up Reversal 1) and DR1 (Down Reversal 1) patterns. It helps traders identify potential trade setups by analyzing price movements in relation to the Average True Range (ATR) and specific candle patterns.

Key Features:

1. User Inputs and Customization ATR Settings:

ATR Length: Determines the period for ATR calculation. (Default: 14)
Big Flush Multiplier: A multiplier to detect large flush candles. (Default: 1.5)
Small Flush Multiplier: A multiplier to detect smaller flush candles. (Default: 0.9)
Small Flush Wick %: Sets the wick size percentage to qualify a small flush. (Default: 30%)
Risk Management Settings:

Capital: User-defined trading capital. (Default: $10,000)
Risk %: Percentage of capital to risk per trade. (Default: 1%)
Display Options:

Toggle to show/hide ATR Pips, Lot Size, and Capital in the chart labels.

2. Flush Candle Detection Big Flush Conditions:

A candle is considered a Big Flush if its body size is greater than 1.5x ATR of the previous candle.
Up Flushes (bullish) are highlighted in white.
Down Flushes (bearish) are highlighted in yellow.
Small Flush Conditions:

Requires three consecutive candles in the same direction.
ATR of each candle must exceed 0.9x of the previous ATR.
The total wick size should be less than the defined wick percentage of the total candle range.
Up Small Flushes are highlighted in gray, and Down Small Flushes in orange.

3. Stop Loss and Lot Size Calculation

Stop loss (SL) is calculated based on the ATR of the flush candle.
SL multipliers are predefined based on the currency pair (e.g., JPY pairs: 100, XAUUSD: 10, others: 10,000).
Lot sizes are computed based on the risk percentage of the provided balance.

4. EXE Candle Identification

After a flush candle is detected, the indicator searches for EXE candles within the next 5 bars.
EXE candles are defined as pinbars where the wick is less than a defined percentage of the candle range.
When an EXE candle is found, a label is displayed with customizable details: ATR pips, lot size, and capital.

5. Visual Enhancements

Big Flush candles are marked with distinct colors.
Small Flush candles are highlighted based on conditions.
Users can toggle visualization preferences for flush types and displayed trade information.

6. Entry Labels and Alerts

Labels are added to chart showing calculated values for stop loss and lot size.
Alerts can be set up based on flush candle conditions to notify potential trade opportunities.

Conclusion: The PAM UR1 DR1 (Forex) indicator offers traders an automated way to detect price manipulation strategies through flush candle analysis and risk management tools, making it easier to identify high-probability trading opportunities.