Trust The Levels - Trade Options In ThinkOrSwim

[METAL]

WOW! What a day. Almost $12,00.00 total profit!
Todays Trades:
PLTR: $2,475.00

TSLA: +$2,135.00

SPX: $6,690.00 Profit

Small Account Challenge - Started @$600.00 a week and a half ago. Now at $2,280.00

I got into a good trade but the contracts were jacked up . I had good movement on price but the contracts never moved. I ended up getting out @$292.00 loss. on 1st trade.

 

[Free1971]

@METAL, thanks for all your work and thanks for all your shares! This indicator and your methods has brought me success. I too have a small account. Can you post some screenshots of your small account and the strategy? I assume it is different from your large account.

 

[METAL]

@METAL, thanks for all your work and thanks for all your shares! This indicator and your methods has brought me success. I too have a small account. Can you post some screenshots of your small account and the strategy? I assume it is different from your large account.

I use the same exact entries for the SM Acct as I do for my LG Acct. Same strategy!

 

[Free1971]

Thank you, I hope you are having success today.

 

[METAL]

Had another great day. Hope everyone was green today!
Todays Trades: LG Acct and Small Acct..
LG Acct: $4,050.00

SM Acct: $301.00

MU: -$990.00 Loss

NVDA:

NVDA

SPX:

 

[METAL]

What a day. I missed the big move as I was at physical therapy.
I did end the day green with a total of $1,239.00 Profit.

Sm & LG Acct. PLTR:

BABA:

SPX

 

[Free1971]

@METAL Do you have a spreadsheet of your daily performance for your small challenge account that you would be willing to share? I would love to see your progress as I try to mirror what you have done. I am assuming you started with $1000?

 

[METAL]

@METAL Do you have a spreadsheet of your daily performance for your small challenge account that you would be willing to share? I would love to see your progress as I try to mirror what you have done. I am assuming you started with $1000?

I started with $600.00. As of today I am at $3,400.00 ish. I do not have a spreadsheet? I have posted some of them on this forum. I will try to post everyday in here. I have no issues helping people. So if you have questions just ask.
I missed posting yesterday but here is what I did.
Sm Acct:

Lg Acct:

 

[Free1971]

I started with $600.00. As of today I am at $3,400.00 ish. I do not have a spreadsheet? I have posted some of them on this forum. I will try to post everyday in here. I have no issues helping people. So if you have questions just ask.
I missed posting yesterday but here is what I did.
Sm Acct:
View attachment 24540
Lg Acct:
View attachment 24541

@METAL Thank you! You are a big help to me and the community.

 

[mnunez021]

@METAL I noticed that the LRC will only show on the 2 min chart, not the 5 min. Is that by design? I am accustomed to using the 5 min

 

[greekstrader]

@METAL This is a great strategy! One thing I’m trying to better understand is how you're drawing the support and resistance lines. I know you’re doing it manually, but do you have a rule of thumb or specific guidelines you follow—especially in the context of this LRC strategy? I'd really appreciate it if you could elaborate a bit on your approach.

Also, I read that you do manual watchlist, can you elaborate you approach on that (what does it include and what is your criteria)?

 

[METAL]

@METAL This is a great strategy! One thing I’m trying to better understand is how you're drawing the support and resistance lines. I know you’re doing it manually, but do you have a rule of thumb or specific guidelines you follow—especially in the context of this LRC strategy? I'd really appreciate it if you could elaborate a bit on your approach.

Also, I read that you do manual watchlist, can you elaborate you approach on that (what does it include and what is your criteria)?

I will create a video showing how I provide my S?R levels, L-LRC Levels, Etc.
My watchlists are simply place holders. I have Call/PUT watchlists that I add the options contracts every morning before and after market starts.

 

[METAL]

@METAL I noticed that the LRC will only show on the 2 min chart, not the 5 min. Is that by design? I am accustomed to using the 5 min

It works on all time frames. Make sure you are using V5.

 

[METAL]

A banger of a day. I missed posting the last couple of days. Been real busy. I did well on the Lg acct but had a Loss on Monday and Wednesday. Small 30.00 profit on Tuesday.
I hope everyone has an amazing weekend and Happy Easter!
Todays Trades-
SM Acct:

LG Acct:

NVDA:

AMZN:

SPX using QQQ

PLTR:

 

[METAL]

Todays Trades- $4,577.00
LG Acct:

SM Acct:

NVDA: Loss -$140.00

PLTR:

TSLA:

AAPL:

SPY- SM Acct:

 

[greekstrader]

I will create a video showing how I provide my S?R levels, L-LRC Levels, Etc.
My watchlists are simply place holders. I have Call/PUT watchlists that I add the options contracts every morning before and after market starts.

Hi @METAL just wanted to see if you had time to put this together?

Even if there is no video, a brief description on your rule of thumb or specific guidelines you follow—especially in the context of this LRC strategy for the S/R lines that you manually draw would be greatly helpful. Thanks!

 

[METAL]

Hi @METAL just wanted to see if you had time to put this together?

Even if there is no video, a brief description on your rule of thumb or specific guidelines you follow—especially in the context of this LRC strategy for the S/R lines that you manually draw would be greatly helpful. Thanks!

I have an outline on page 1.

 

[METAL]

Todays Trades - $4,775.00 Profit!
Lg Acct:

SM Acct:

PLTR:

TSLA -$250.00 Loss

AAPL:

SPX- LG Acct: $3,000.00
SPY-SM Acct: $180.00

 

[greekstrader]

I have an outline on page 1.

Thanks @METAL I see you have about these major levels, but can you elaborate on how you draw them or how you determine it as a major level? Basically the pink and green lines that you have manually drawn. Thanks!

 

[9509star]

This indicator has been updated to generate buy and sell arrows when conditions are met. Hope this will help other people to take better decision and make some money!

input StartTime = 0400;
input extend = yes;
input endtime = 0929;
input Channel_1_Width = 1.0;
input Channel_2_Width = 2.0;
input Channel_3_Width = 3.0;
input Channel_4_Width = 4.0;
input Channel_5_Width = 5.0;
input Channel_6_Width = 6.0;

# Width Multiplier Input
input WidthMultiplier = 1.0;

# Adjusted Channel Widths
def Adjusted_Channel_1_Width = Channel_1_Width * WidthMultiplier;
def Adjusted_Channel_2_Width = Channel_2_Width * WidthMultiplier;
def Adjusted_Channel_3_Width = Channel_3_Width * WidthMultiplier;
def Adjusted_Channel_4_Width = Channel_4_Width * WidthMultiplier;
def Adjusted_Channel_5_Width = Channel_5_Width * WidthMultiplier;
def Adjusted_Channel_6_Width = Channel_6_Width * WidthMultiplier;

# Toggles to show/hide the channels
input ShowChannel_3 = yes; # Toggle for 3.0 width channel
input ShowChannel_4 = yes; # Toggle for 4.0 width channel
input ShowChannel_5 = yes; # Toggle for 5.0 width channel
input ShowChannel_6 = yes; # Toggle for 6.0 width channel

input lineweight = 1;

def sec1 = SecondsFromTime(StartTime);
def isTime1 = (sec1 >= 0 and sec1[1] < 0) or (sec1 < sec1[1] and sec1 >= 0);

script E
{
input y = close;
input n = 20;
def s = fold i = 0 to n
with j
do j + GetValue(y, i);
plot D = s;
}

# Variables
def o = open;
def h = high;
def l = low;
def c = close;
def x = BarNumber();
def nan = Double.NaN;
def xx = if IsNaN(c[-1]) and !IsNaN(c) then x else xx[1];
def firstBar = if isTime1 == 1
then x + 1
else firstBar[1];

# Options to End Plot Based Upon Condition and Extended from there
def cond_y = if SecondsFromTime(endtime) <= 0 then x else nan;
AddVerticalLine(x == HighestAll(cond_y), " ", Color.WHITE);
def y = if x == 1 or IsNaN(close)
then nan
else if Between(x, HighestAll(firstBar), HighestAll(cond_y))
then close
else y[1];

#############

def S_y = if x == HighestAll(firstBar)
then y
else if x > HighestAll(firstBar)
then S_y[1] + y
else S_y[1];
def S_x = if x == HighestAll(firstBar)
then 1
else if x > HighestAll(firstBar)
then S_x[1] + 1
else S_x[1];
def x0_ = HighestAll(xx) - firstBar;
def x1 = HighestAll(if !IsNaN(y) and IsNaN(y[-1])
then x
else nan);
def x0 = HighestAll(if GetValue(x, -x0_) == x1
then x
else nan);
def x_ = if GetValue(x, -x0_) >= x1
then x - x0
else x_[1];
def Ex = E(x_, x0_);
def Ey = E(y, x0_);
def Exy = E(x_ * y, x0_);
def Exsq = E(Sqr(x_), x0_);
def b = (x0_ * Exy - (Ex * Ey)) / (x0_ * Exsq - (Ex * Ex));
def a = (GetValue(Ey, x - x1) - GetValue(b, x - x1) * GetValue(Ex, x - x1)) / x0_;
def LR = a + (GetValue(b, x - x1) * x_);
def r = Max(h, c[1]) - Min(l, c[1]);
def Er = E(r, x0_) / x0_;
def mean = S_y / S_x;
def SD = Sqrt((1 / S_x) * (E(Sqr(y - mean), S_x)));

# EMA Definitions
def EMA20 = ExpAverage(close, 20);
def EMA200 = ExpAverage(close, 200);

# Plots
plot LRL = if extend == no and x <= HighestAll(cond_y)
then LR
else if extend == yes and x >= x0
then LR
else nan;
LRL.SetStyle(Curve.SHORT_DASH);
LRL.SetLineWeight(lineweight + 1);
LRL.AssignValueColor(Color.CYAN);
LRL.HideBubble();
LRL.HideTitle();

# Original Channel Widths using Adjusted Widths
plot upper1 = LRL + (HighestAll(SD) * Adjusted_Channel_1_Width);
upper1.SetStyle(Curve.MEDIUM_DASH);
upper1.SetLineWeight(lineweight);
upper1.SetDefaultColor(Color.RED);
upper1.HideBubble();
upper1.HideTitle();

plot lower1 = LRL - (HighestAll(SD) * Adjusted_Channel_1_Width);
lower1.SetStyle(Curve.MEDIUM_DASH);
lower1.SetLineWeight(lineweight);
lower1.SetDefaultColor(Color.RED);
lower1.HideBubble();
lower1.HideTitle();

plot upper2 = LRL + (HighestAll(SD) * Adjusted_Channel_2_Width);
upper2.SetStyle(Curve.LONG_DASH);
upper2.SetLineWeight(lineweight);
upper2.SetDefaultColor(Color.YELLOW);
upper2.HideBubble();
upper2.HideTitle();

plot lower2 = LRL - (HighestAll(SD) * Adjusted_Channel_2_Width);
lower2.SetStyle(Curve.LONG_DASH);
lower2.SetLineWeight(lineweight);
lower2.SetDefaultColor(Color.YELLOW);
lower2.HideBubble();
lower2.HideTitle();

# Channel Widths with visibility toggles and Adjusted Widths
plot upper3 = if ShowChannel_3 then LRL + (HighestAll(SD) * Adjusted_Channel_3_Width) else nan;
upper3.SetStyle(Curve.LONG_DASH);
upper3.SetLineWeight(lineweight);
upper3.SetDefaultColor(Color.GREEN);
upper3.HideBubble();
upper3.HideTitle();

plot lower3 = if ShowChannel_3 then LRL - (HighestAll(SD) * Adjusted_Channel_3_Width) else nan;
lower3.SetStyle(Curve.LONG_DASH);
lower3.SetLineWeight(lineweight);
lower3.SetDefaultColor(Color.GREEN);
lower3.HideBubble();
lower3.HideTitle();

plot upper4 = if ShowChannel_4 then LRL + (HighestAll(SD) * Adjusted_Channel_4_Width) else nan;
upper4.SetStyle(Curve.LONG_DASH);
upper4.SetLineWeight(lineweight);
upper4.SetDefaultColor(Color.MAGENTA);
upper4.HideBubble();
upper4.HideTitle();

plot lower4 = if ShowChannel_4 then LRL - (HighestAll(SD) * Adjusted_Channel_4_Width) else nan;
lower4.SetStyle(Curve.LONG_DASH);
lower4.SetLineWeight(lineweight);
lower4.SetDefaultColor(Color.MAGENTA);
lower4.HideBubble();
lower4.HideTitle();

plot upper5 = if ShowChannel_5 then LRL + (HighestAll(SD) * Adjusted_Channel_5_Width) else nan;
upper5.SetStyle(Curve.LONG_DASH);
upper5.SetLineWeight(lineweight);
upper5.SetDefaultColor(Color.ORANGE);
upper5.HideBubble();
upper5.HideTitle();

plot lower5 = if ShowChannel_5 then LRL - (HighestAll(SD) * Adjusted_Channel_5_Width) else nan;
lower5.SetStyle(Curve.LONG_DASH);
lower5.SetLineWeight(lineweight);
lower5.SetDefaultColor(Color.ORANGE);
lower5.HideBubble();
lower5.HideTitle();

plot upper6 = if ShowChannel_6 then LRL + (HighestAll(SD) * Adjusted_Channel_6_Width) else nan;
upper6.SetStyle(Curve.LONG_DASH);
upper6.SetLineWeight(lineweight);
upper6.SetDefaultColor(Color.BLUE);
upper6.HideBubble();
upper6.HideTitle();

plot lower6 = if ShowChannel_6 then LRL - (HighestAll(SD) * Adjusted_Channel_6_Width) else nan;
lower6.SetStyle(Curve.LONG_DASH);
lower6.SetLineWeight(lineweight);
lower6.SetDefaultColor(Color.BLUE);
lower6.HideBubble();
lower6.HideTitle();

# Plot EMAs
plot EMA20_plot = EMA20;
EMA20_plot.SetDefaultColor(Color.WHITE);
EMA20_plot.SetLineWeight(2);
EMA20_plot.HideBubble();
EMA20_plot.HideTitle();

plot EMA200_plot = EMA200;
EMA200_plot.SetDefaultColor(Color.GRAY);
EMA200_plot.SetLineWeight(2);
EMA200_plot.SetStyle(Curve.LONG_DASH);
EMA200_plot.HideBubble();
EMA200_plot.HideTitle();

# Signal Logic
# Safe Buy (CALL) Signal: Price crosses above lower channel, above both EMAs
def safe_buy = close > EMA20 and close > EMA200 and
(Crosses(close, lower1, CrossingDirection.ABOVE) or
Crosses(close, lower2, CrossingDirection.ABOVE) or
(ShowChannel_3 and Crosses(close, lower3, CrossingDirection.ABOVE)) or
(ShowChannel_4 and Crosses(close, lower4, CrossingDirection.ABOVE)) or
(ShowChannel_5 and Crosses(close, lower5, CrossingDirection.ABOVE)) or
(ShowChannel_6 and Crosses(close, lower6, CrossingDirection.ABOVE)));

# Safe Sell (PUT) Signal: Price crosses below upper channel, below both EMAs
def safe_sell = close < EMA20 and close < EMA200 and
(Crosses(close, upper1, CrossingDirection.BELOW) or
Crosses(close, upper2, CrossingDirection.BELOW) or
(ShowChannel_3 and Crosses(close, upper3, CrossingDirection.BELOW)) or
(ShowChannel_4 and Crosses(close, upper4, CrossingDirection.BELOW)) or
(ShowChannel_5 and Crosses(close, upper5, CrossingDirection.BELOW)) or
(ShowChannel_6 and Crosses(close, upper6, CrossingDirection.BELOW)));

# Aggressive Buy (CALL) Signal: Price crosses above lower channel, above EMA200, approaching EMA20
def aggressive_buy = close > EMA200 and
AbsValue(close - EMA20) <= HighestAll(SD) * 0.5 and
(Crosses(close, lower1, CrossingDirection.ABOVE) or
Crosses(close, lower2, CrossingDirection.ABOVE) or
(ShowChannel_3 and Crosses(close, lower3, CrossingDirection.ABOVE)) or
(ShowChannel_4 and Crosses(close, lower4, CrossingDirection.ABOVE)) or
(ShowChannel_5 and Crosses(close, lower5, CrossingDirection.ABOVE)) or
(ShowChannel_6 and Crosses(close, lower6, CrossingDirection.ABOVE)));

# Aggressive Sell (PUT) Signal: Price crosses below upper channel, below EMA200, approaching EMA20
def aggressive_sell = close < EMA200 and
AbsValue(close - EMA20) <= HighestAll(SD) * 0.5 and
(Crosses(close, upper1, CrossingDirection.BELOW) or
Crosses(close, upper2, CrossingDirection.BELOW) or
(ShowChannel_3 and Crosses(close, upper3, CrossingDirection.BELOW)) or
(ShowChannel_4 and Crosses(close, upper4, CrossingDirection.BELOW)) or
(ShowChannel_5 and Crosses(close, upper5, CrossingDirection.BELOW)) or
(ShowChannel_6 and Crosses(close, upper6, CrossingDirection.BELOW)));

# Plot Signals
plot BuySignal = if safe_buy or aggressive_buy then low else nan;
BuySignal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
BuySignal.SetDefaultColor(Color.GREEN);
BuySignal.SetLineWeight(3);
BuySignal.HideBubble();
BuySignal.HideTitle();

plot SellSignal = if safe_sell or aggressive_sell then high else nan;
SellSignal.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
SellSignal.SetDefaultColor(Color.RED);
SellSignal.SetLineWeight(3);
SellSignal.HideBubble();
SellSignal.HideTitle();