Repaints AGAIG Tri-Trend Trading Chart For ThinkOrSwim

[csricksdds]

AGAIG MY CURRENT UPDATED CHART TRADING SETUP​

This is my current trading chart setup with the faster version TRI-TREND. It is my setup for Day Trading using my “AGAIG MTF TRI-TREND ALIGN Version 2 faster (Lower) and my “AGAIG TREND OVERALL SIMPLIFIED” (Upper) to place emphasis on trend (the trend is my friend) to correlate the two as useful tools. I have also added my repainting “Upper Squared Histogram” (a favorite of mine), my “Price Pointer”, the “Market Open Vertical Line”, the “Murrey Math Pivots No Bubbles”, a “20 EMA Line” and the” Heikin Ashi Trend Labels”. These provide all the information I need for making trades.

NOTE: Since I’m Day Trading I am using all four Time Frames and am using 5M, 10m, 15m, 20m for short term trading. You can change those time frames to longer if you are doing other than day trading or wish to view longer time frames.

My two charts look:

https://imgur.com/a/4CXkhO0

The grid for these charts with Tri-Trend V2: http://tos.mx/!P8ZAOVnD

 

[too tall]

Thank you

 

[csricksdds]

Thank you

You're welcome. Hopefully helpful?

 

[Piper2808t]

Fantastic study question with the repainting if the signal disappears she we bail on the trade or add to the next? any insight would be helpful thanks

 

[wbjawerner]

AGAIG MY CURRENT UPDATED CHART TRADING SETUP​

This is my current trading chart setup with the faster version TRI-TREND. It is my setup for Day Trading using my “AGAIG MTF TRI-TREND ALIGN Version 2 faster (Lower) and my “AGAIG TREND OVERALL SIMPLIFIED” (Upper) to place emphasis on trend (the trend is my friend) to correlate the two as useful tools. I have also added my repainting “Upper Squared Histogram” (a favorite of mine), my “Price Pointer”, the “Market Open Vertical Line”, the “Murrey Math Pivots No Bubbles”, a “20 EMA Line” and the” Heikin Ashi Trend Labels”. These provide all the information I need for making trades.

NOTE: Since I’m Day Trading I am using all four Time Frames and am using 5M, 10m, 15m, 20m for short term trading. You can change those time frames to longer if you are doing other than day trading or wish to view longer time frames.

My two charts look:

https://imgur.com/a/4CXkhO0

The grid for these charts with Tri-Trend V2: http://tos.mx/!P8ZAOVnD

Looks like you can look at two different stocks at the same time, is this correct? If so, would this set up work well trading the ultra Etf's like Soxl and Soxs? I am a little confused on how you use the charts, would you please give us more detail. Like when do you enter enter and when do you exit? THKS for any help.

 

[csricksdds]

Looks like you can look at two different stocks at the same time, is this correct? If so, would this set up work well trading the ultra Etf's like Soxl and Soxs? I am a little confused on how you use the charts, would you please give us more detail. Like when do you enter enter and when do you exit? THKS for any help.

Yes I watch multiple stocks at the same time - up to five on two different charts. My vertical squared histogram is my heads up for entry when I have at least one (or two) more in agreement and I exit at the next squared histogram, or before, if multiple indicators suggest another change in direction or I will exit at a preset profit that I have set as a GTC exit.

 

[jhorton56]

Please elaborate on what you said above, "Since I’m Day Trading I am using all four Time Frames." How does MTF and day trading work togther?

 

[csricksdds]

Please elaborate on what you said above, "Since I’m Day Trading I am using all four Time Frames." How does MTF and day trading work togther?

First of all let’s understand time frames. Candles are moving simultaneously in all time frames at the same time. Historically we find that candles move 6-10 bars in each time frame before changing direction. The six to ten candles movement is a tendency, not a law — it holds up better in liquid, trending names and gets noisier in low-volume or choppy conditions. So if you are trading a 5 minute timeframe the candle usually changes direction every 30- 50 minutes, whereas a 15 minute timeframe changes direction every 90 – 150 minutes, etc. The earlier time frames therefore will need to work above and beyond expectation to make the next time frame higher to strengthen as it moves up the timeframe chain. Day trading a lower time frame will therefore usually move up and down faster than the time frames further out.

Each timeframe is really just a compression of the ones below it, the lower timeframes are the "engine" — they're what actually generates the moves you see on the higher timeframes. A 15 minute candle isn't a separate thing happening in isolation; it's three 5 minute candles fused together. That's why a lower timeframe has to work harder than its usual 6-10 bar tendency to actually bend the timeframe above it — one 5 minute swing doesn't move the 15 minute chart, but several 5 minute swings all pushing the same direction in sequence will.

This is why, as a day trader, you don’t need to just watch one chart — You can watch four, because each one is answering a different question:

• The highest timeframe (Daily) tells you the overall bias — am I even looking for longs or shorts today, or is this a stock/index that's just chopping and better left alone.
• The next timeframe down (1 Hour) shows you the levels that matter for the session — the support and resistance that price is probably going to react to today, and roughly what kind of range I should expect.
• The 15 minute chart is where you watch for the actual shift starting to build — this is usually the first place you can see the lower timeframe "working harder than expected," which is your early warning that a real move might be forming, not just noise.
• The 5 minute (or lower) chart is the entry timing chart. I only use it to time the trigger once the three timeframes above it already agree with each other.

The reason all four matter together is that a signal on the 5 minute chart by itself is nearly meaningless — it changes direction every 30-50 minutes basically all day, so there are dozens of them and most go nowhere. What makes one of those signals tradeable is when it's happening in the same direction the 15 minute, 1 Hour, and Daily are already leaning. When all four agree, you're not fighting the bigger timeframe's momentum — you're catching the small ripple at the moment it's being pushed by the bigger wave underneath it. When they disagree, you're just trading noise, and that's where most bad entries come from.

 

[jhorton56]

I'm astonished at how you distilled such a complex subject down the the bare essentials yet in a way that makes clear how the interrelationships actually work and how the trader can use them to his or her advantage. I feel like the scales have fallen from my eyes. Bravo!

 

[csricksdds]

I'm astonished at how you distilled such a complex subject down the the bare essentials yet in a way that makes clear how the interrelationships actually work and how the trader can use them to his or her advantage. I feel like the scales have fallen from my eyes. Bravo!

Wow...those are really kind words and I'm glad what I wrote helped!