The Big Four Chart SetUp For ThinkOrSwim

[VJ2023]

@illbdam69​

Would it be possible to share on how you use PAM with Big4 on 3 min or 15min or anytime frame you use either on SPY or SPX. Greatly appreciate your insights till now.

 

[HODL-Lay-HE-hoo!]

Thank you all for these contributions. However, after spending a considerable amount of time reading through this, I have no idea where to find the final product of this beautiful collaboration. Who hid the script? There are several in process and I am most likely a blind man. Help!

The official "final product" the big four can be found in the first post on page one... as for the variants they are in the comments here or here: https://usethinkscript.com/threads/...tup-the-end-all-be-all-for-thinkorswim.15257/

 

[smallstacks]

You need to change the "strategy hold trend" to NO.

@illbdam69 need some help I tried using the 3 min TF for SPY this week with TMO setting 30,6,6 when it was below zero for calls and above zero for puts but direction reversed or changed any tips on how one would use it Thanks

 

[smallstacks]

To anyone in this thread

need some help I tried using the 3 min TF for SPY this week with TMO setting 30,6,6 when it was below zero for calls and above zero for puts but direction reversed or changed any tips on how one would use it or anyone that has had success using it Thanks

 

[zee2881]

To anyone in this thread

need some help I tried using the 3 min TF for SPY this week with TMO setting 30,6,6 when it was below zero for calls and above zero for puts but direction reversed or changed any tips on how one would use it or anyone that has had success using it Thanks

Trade dates and times?

 

[smallstacks]

Trade dates and times?

SPY 9/5 8.36 am PST bearish signal and tmo above 0 trend reversed /same 9/6 12:03p, 8:48am 9/7 spy puts, 9:48 am,9/7, spy puts 7.50 am 9/8, spy calls 9/8 9:15a, 9/11 7:24am spy calls, 9/13 8:51am spy puts

I understand sometimes we may not get the right entry, is there something I need to change on my end to make sure this does not happen, Thanks for replying

 

[HODL-Lay-HE-hoo!]

SPY 9/5 8.36 am PST bearish signal and tmo above 0 trend reversed /same 9/6 12:03p, 8:48am 9/7 spy puts, 9:48 am,9/7, spy puts 7.50 am 9/8, spy calls 9/8 9:15a, 9/11 7:24am spy calls, 9/13 8:51am spy puts

I understand sometimes we may not get the right entry, is there something I need to change on my end to make sure this does not happen, Thanks for replying

View attachment 19745

is tmo filter on or off? change that setting and see if you prefer where the arrows plot would be my suggestion.

 

[smallstacks]

is tmo filter on or off? change that setting and see if you prefer where the arrows plot would be my suggestion.

Did you mean stratery filter tmo ? or where is this setting

 

[smallstacks]

Here is another one from today 10:03 am pst spy puts tmo above 0 then reversing

 

[METAL]

Here is another one from today 10:03 am pst spy puts tmo above 0 then reversing

View attachment 19749

It looks like that worked out okay? What are you trying to achieve? That price went down .40c. That is the market. Can't always get the big move. Also, This is a heavy news week, so you should look to take quick profits and move on. tomorrow and Wed will most likely be choppy as well.

 

[smallstacks]

It looks like that worked out okay? What are you trying to achieve? That price went down .40c. That is the market. Can't always get the big move. Also, This is a heavy news week, so you should look to take quick profits and move on. tomorrow and Wed will most likely be choppy as well.

yes agreed on the one above one

 

[HODL-Lay-HE-hoo!]

Did you mean stratery filter tmo ? or where is this setting

Yup thats the one

 

[HODL-Lay-HE-hoo!]

Here is another one from today 10:03 am pst spy puts tmo above 0 then reversing

View attachment 19749

If you could explain a little more what the issue is or what your expectations are that would help us provide you with better feedback.

 

[Jake9982139]

the label on this script only displays the bullish/bearish trend of current chart. Does anyone know how to create multiple labels of different timeframes when looking at any timeframe chart? for example, when I am looking at 1 hour chart, can I add labels to display the 1 hour and 2 hour timeframe indicator's values

 

[smallstacks]

Yup thats the one

Thanks for replying back just looking for more consistency on day trades using the Big4 on 3 mins chart

 

[Darth Tradicus]

Here's my trade today on SPY 1M along with another indicator that may help weed out more false signals. I spent last night flipping through the indicator library from this site, giving many different ones a try and from what I can tell, the Stoplight Indicator posted by Floydddd seems to work well as an additional confirmation. From what I've observed looking through the last few weeks, whenever the Big4 triggers and the Stoplight indicator has dots(above the bottom two rows of dots which are almost always there) it seems to confirm a legit reversal. When the dots aren't present most of the time it seems to be a fakeout or at least doesn't run very far. IMPORTANT** It for now only looks to work well on the 1 minute time frame, so it may need some tweaking for others. Here's today:



As you can see, as we were putting in lower highs near the HOD, I was looking for the color change for a reversal. 2 fakeouts that the Stoplight indicator caught. Note it did not catch the 3rd fakeout, however by then I had observed the chop and played it safe. Also note, we triggered LONG two candles later, but I stayed out because of the chop, preferring to see push above the HOD and pullback before entry but the darn thing just kept running... oh well.

Next here is my trade that came at around 10:16-


After missing that frustrating run up, Finally got the signal with dots on the Stoplight. Took the trade. It turned into a real chop downward, came close to stopping me but eventually broke. I lowered my stop first to break even and then just above Initial Balance High (1 HR HOD White Dash Line) hoping for it to trickle and chop it's way lower but I got stopped out by a bastard monster candle that popped up in a split second. Was up $40/contract but still ended up with $20. After that you can see that the Stoplight caught another fake signal and we've been chopping thru sideways garbage ever since.

I'm gonna keep the Stoplight as part of this trading setup for now as it seems to help a lot more than hurt. Like any confirmation, it will probably keep you out of a good trade every once in a while but seems to help more often than not. I looked at it on a few other time frames and it didn't seem to work, so it would probably need some tweaking from you modders. Odd to me that it works at all IMHO, as the Stoplight Indicator is meant to detect where the directional movement is putting on the brakes. But for now I'm just not gonna question it lol.

***Also forgot to mention, that Stoplight Dots don't seem to be necessary on a continuation of the trend- ex if you are short/red and you get a pullback that turns green(without dots) and goes nowhere but then just after you get a red candle + TMO confirmation, It looks like dots being there don't matter.

http://tos.mx/AKQy15E

 

[Darth Tradicus]

So after struggling on my one trade and deciding to quit cuz it turned to crap, look what the little jerk does

 

[jrock8903]

So after struggling on my one trade and deciding to quit cuz it turned to crap, look what the little jerk does

Searching for it, but not finding it. Is there somewhere that explains how the indicator works and what all the dots mean?

 

[Darth Tradicus]

Searching for it, but not finding it. Is there somewhere that explains how the indicator works and what all the dots mean?

Posted my chart above- not sure if its working. But I think this is where I found it:

https://usethinkscript.com/threads/need-help-aligning-stoplight-bubbles.7045/

The dots are multiple indicators: turning, dmi, stochastics, keltner, rsi, ppo, X+, some I'm not familiar with, but I think the idea is that when you see a cluster of dots you're looking for a price reversal. However with Big4 on the 1M it seems to usually work the opposite by causing to signal a stronger trend- like when rsi signals overbought/oversold but instead stays in either the upper or lower zone when the stock is trending...

maybe its just lag, or maybe it's just how it aligns with Big4, i dunno. but it works fairly consistently looking backward on 1M and it worked for me today so I'll take it Play with it and see what you come up with.

 

[71Warhawk]

@floydddd do you still use the stoplight indicator? I couldnt find much information on this indicator at all. Thanks for all your help,