AGAIG: THE CONFIRMING SIX INDICATOR STRATEGY FOR TOS
First, I want to give credit and kudo’s to Options Trader, who joined useThinkScript on March 21, 2020, for assembling “My Simplified Scalping Setup For ThinkOrSwim.” I am intrigued by the six indicator labels this trader pulled together. I spent all day Friday modifying these to fit my trading “eye” (I am a visual trader).
A recent post by HopStanD said: “Looks interesting, but what’s the strategy. Buy on close above the white line and sell on close below? And what is the significance of the yellow dots?”
I spent the day Friday considering how I might use this and so I’m sharing my strategy (for what it’s worth). The labels (six indicators in visual form) intrigued me.
So, my strategy for adding this to my chart and using it follows.
First, I use my AGAIG charting for entry purposes in placing trades. I have added the “Confirming Six” on the lower right of my chart. The “Confirming Six” is a wonderful visual for TREND CONTINUATION. It can also be used for entry/exit purposes should one choose to do so. The “Confirming Six” may help one stay in a trade longer (or exit earlier) when the six indicators become mixed suggesting an impending change in direction?
When the six indicators are all Green, trend is strongly positive. When the six are all Red, trend is strongly negative. Mixed signals suggest a change in direction may be imminent.
This is the AGAIG CONFIRMING CHART I am using. My personal entries are my Long/Short Bubbles and the GREEN/RED HISTOGRAM with the Confirming Six for trend continuation. I turned off the 6-trend alerts since with multiple charts it was like a little dog barking at my heels.
This will work on any timeframe. I am using a 5 minute chart for teaching purposes.
Dual 5 minute chart link: http://tos.mx/!bZHiPETE
Dual 5 minute look:
6 Chart link: http://tos.mx/!3gxJ3szF
6 chart look:
