Price Action Diver Power is an indicator that was created in January 2019 by developer Igor Otkidach. Price action diver power is a multi-currency indicator that simultaneously evaluates the entire market basket (all currency pairs available).
To start the operation of this indicator, it is necessary to:
– Add all currency pairs available in the Market Watch tab.
– Before the first installation of the indicator, it is required to open all the dating tables of the “Market Watch” tab for your trading platform to automatically download all the historical quotes needed for the indicator to work.
– Pay attention to the name of the currency pairs in your trading terminal. Brokers often put a symbol – suffix to the currency pair name. For example – Eurusd X, where the “x” is the suffix.
If the currency pair name on your trading platform is different from the usual name, you must specify this suffix in the manual setting of the indicator.
- For the auto-optimization of the indicator, it is necessary to:
- Put the indicator in the quotation table.
For the variable “Automatic optimization algorithm”, select “True” and click “OK” to apply the indicator.
After applying the indicator with the automatic optimization parameter enabled, the optimization will have started. It’ll look like your trading platform is frozen. Don’t worry, it’s optimized. The average optimization time takes about 10-15 seconds. About 10-15 seconds after the indicator is optimized, a message will appear indicating that auto-optimization has been done and the statistics for the parameters already optimised will be seen in the scoreboard.
Many options can be tried to filter the optimization options. The best algorithm works by choosing the asset that has the most benefit amount and a benefit factor of at least 2.0. Therefore, the optimizer of this indicator goes through a lot of possible options (about 10,000 options) and you will have to choose the one that has the most amount of gain, and the gain factor of at least 2.0.
The prompt writes all optimization results to a special file and stores them in the “Files” section in the main directory of your trading platform. This is done with the aim of not carrying out a self-optimization constantly, but to use the parameters that were optimized before. This file will then be continuously updated (each time a planned auto-optimization takes place at a time of your choice).
Once you have already optimized the H1 time frame (or another different time frame) of a particular currency pair and currently want to optimize for H4 time frame (or another time frame), the number of the “Optimization ID” will have to be changed. This unique number helps the indicator filter out previously obtained results and does not allow the same optimization results in different timeframes.
It must be understood that the movement dynamics of the oscillating line of this indicator differ significantly in different time frames. By default, the indicator has optimization in time frame H1. But if you want to optimize the indicator for other time frames, it is better to use the set files to optimize different time frames.
The time of the planned optimization can be any you want. The default is Sunday at 11:30 (platform schedule). For the moment, the markets are closed and self-optimization will not prevent your trade. The planned optimization will be done every week at the time you specify it. The main thing is that at this time your platform was working.
If you are interested in this product anyway, you can find it for sale on the MQL market at a price of 98 USD. You can also rent it for 30 USD per month or try its demo version before deciding to buy it or rent it.
In short, we are talking about an indicator not suitable for beginner traders because of its complexity when it comes to configuration. It is very important to know well how to trade with the action of the price, and this way of trading needs a good time to master it and thus understand the functioning of this indicator. We have found numerous criticisms of this indicator in comments from its users, some positive, and some negative, so there is no clear consensus on its usefulness.