blackFLAG FTS - SwingArm Trend Indicator using ATRTrailing Stop and Fibonacci Retracements

[BenTen]

@dmaffo It's extremely important that you watch all of Jose's videos on our YouTube channel to get a better understanding of his trade process and methodology using the SwingArm.

You can find all of the videos on here: https://www.youtube.com/channel/UCKguLNWdrnrm2p6m3GVgKXQ

Post screenshots of your trades, where you entered, and where you exited along with the reasoning.

 

[Cleartarget]

I just wanted to share an idea of how I am using this indicator (as it evolves) scalping /MES. I am still paper trading it for the time being but I really am liking this setup. The multi swing arm on one chart posted earlier by @BenTen is a BIG HELP as it really put's things into perspective and saves me from the false signals of a 1 minute chart. Modified the code mostly just for cosmetic reasons & I created a simplified basic version of the swing arm to quickly check the longer term overall trend for my style of trading. I know it's ideal to use multiple monitors to manage the different timeframes, but I am not so good at multi tasking so I prefer everything on a single chart--- Shockingly, I am using the small screen of a Surface GO for this but you get used to it.

If anyone wants a chart link let me know, happy to share. As always thankyou to @fjr1300 , @horserider , & others for these amazing tools I am using.

Shareable Link: https://tos.mx/cfnF0Mw

The real credit goes to the original people, my coding ability is extremely limited.

edit: the atr factor of the lower swingarm trend indicator was accidentally set to 0.5 instead of 5 just fyi

Thanks for sharing your chart link.

 

[TopDog]

Lost $2.600.00 today with SwingArm. Please chime with all comments as I am looking for help. I got orders filled on long side in greenzones and things dipped on wrongside shortly after, and I ended bailing few times which cost me early on day. Then I was on right side of trade but slippage and not filled orders messed me up. I was successful couple times over 10% but with partial crummy fills on TOS...frig...
Please let me know what other indicators I should be using.
What time frames I should beusing them with. 1 2 5 7 10 12 15?
I am looking for help to best use these tools. Any consideration to this would sincerely be appreciated.
Thanks
using $25k account.... well.... not anylonger...

Was close but no cigar today. Want to dust myself off and get back in confident tomorrow.

If I assume you traded /ES with swing arm after 9:30 AM Market open, 1 Min and 5 Min swing arm didn't agree with each other till 3:45 PM. I concur with @BenTen Can you please post your trades ?

 

[baxtr]

Lost $2.600.00 today with SwingArm. Please chime with all comments as I am looking for help. I got orders filled on long side in greenzones and things dipped on wrongside shortly after, and I ended bailing few times which cost me early on day. Then I was on right side of trade but slippage and not filled orders messed me up. I was successful couple times over 10% but with partial crummy fills on TOS...frig...
Please let me know what other indicators I should be using.
What time frames I should beusing them with. 1 2 5 7 10 12 15?
I am looking for help to best use these tools. Any consideration to this would sincerely be appreciated.
Thanks
using $25k account.... well.... not anylonger...

Was close but no cigar today. Want to dust myself off and get back in confident tomorrow.

time frame would depend on if you are day trading or swinging and how long....95% of the times I fail at a trade I can go back...look at the time of entry, then look at a longer time frame than I used and realize I got in right at resistance...or was looking at a 5min timeframe that was bullish, entered, only to look at a longer one that showed the entire week was bearish.... so if you do post screens....say what time frame you were looking at, and the time of your entry....then others can bring up that time on their charts to help steer you in the right direction....I am still green with all of this, but entering without checking trend of higher timeframes is usually my biggest mistake

 

[dmaffo]

5 mins and 1 min

at the time of trade the 5 mins candle looked healthy as did the 1 min. DLOC yesterday supernova crazy stock. When I entered all seemed green. Supertrend MACDRSI,

 

[TopDog]

5 mins and 1 min

at the time of trade the 5 mins candle looked healthy as did the 1 min. DLOC yesterday supernova crazy stock. When I entered all seemed green. Supertrend MACDRSI,

1 minute charts are too fast and stops should be given some breathing room in my experience using swing arm. Never used them on stocks though. I use 1 Min with 5 min overlap @BenTen posted on ES, YM, NQ and CL. Works quite well.

 

[BenTen]

@TopDog Agreed! For those of you who don't feel comfortable trading futures, you can trade ETFs like $SPY. They move pretty much the same.

 

[KarlWolff]

This is the problem with BlackFlag. There will always be another bucket at a different time frame that shows correct entries or exits...with hindsight.

 

[tradegeek]

@dmaffo First, I would avoid anything is huge swings especially penny stocks. If you insist on trading penny stocks, then enter on pull-backs closest to the trailing stop line as possible and place your stop right below/above that. That will help you have better risk:reward entries. The market doesn't move in straight lines but rather it ebb and flows and creates swing lows and swing highs. If you're entering at the top of a 5-minute candle, you need to have the expectation that the next candle may likely wick or engulf the previous candle, especially after price has already made several consecutive green candles. That's why it makes the "safe" entry in my opinion to buy the pull-back instead of the breakout because you may get stopped. If you miss the trade, there will always be the next one. The market is never short of opportunities.

With all that said, never follow any indicator blindly without taking into consideration levels of support/resistance, price action, momentum, etc.

 

[dmaffo]

Today with advise taken into consideration I tried used 1&5 min swingarm, supertrend, carter squeeze scalper trend, macd 60 buy, and ended up only taking 1000 to 5000 per trade size and ended up $878.00 on the green. I stopped and logged out to keep and not give back my profit for day. There were a few times HTZ, SINT and DLOC dipped on me to -$200 almost instantly and my heart sank, but, today because of smaller position and all my indicators were telling me to hold on to my shorts and let it breath a little instead, and voila, after a fews mins all came back and gave me a win that I took way too fast as they all went on to gain much more on every trade, except DLOC which I got out just in time before it tanked. I took my profit way to early. I will have to work on that as INO did that to me yesterday. Either way would love some feedback on what everyone uses on their charts. I am going over all Jose videos again as I am sure ill get more every time I watch. Just wanted to share that at least today with just shy of 15% given the size I traded today which I think is great!! I am brand new member here but am I ever glad I found this community! Thank you all for giving me a breath of fresh air, and courage to get out there today and give it another go. !

 

[Ramesh16]

what is macd 60 buy??

 

[dmaffo]

what is macd 60 buy??

Lol, oh yes that, well I was scrolling around and someone here posted a simple strategy about changing the macd lines from their typical "30, 70" to 60 40. If long 60 and short 40 cross lines and it kinda coincided nicely with all else I had going on. That being said market is ridoncoulus choppy and I had to make sure today unlike other days the trend was in my favor. Even then a couple tanked along with my heart and while I was building a brick house waiting for the stock to come back up I noticed that once stock got shaken tickers kinda follow. So I agree with "TRADEGEEK" about following anything blindly as that can get you in all kinds of trouble and fast with this market. Hope you understood the macd 60!
I am still going over videos to see if I missed anything and also open to hear what every other day trader. scalper and swingtrader use on their systems to assist becoming successful. Till now I have been pretty much just waiting on 2 or 3 bar reversal on the 15 min chart. Wait for engulfing candle and slide in. Getting a little anxious also got me in trouble as I tried to catch the bottom of the "dip"...sigh... Expensive lessons....

 

[dmaffo]

what is macd 60 buy??

Here is the macd post I told you about. Took a bit but I found it. Written by ykd2018x

https://usethinkscript.com/threads/simple-yet-very-powerful-swing-trading-strategy.272/

 

[technicallydreaming]

Lol, oh yes that, well I was scrolling around and someone here posted a simple strategy about changing the macd lines from their typical "30, 70" to 60 40. If long 60 and short 40 cross lines and it kinda coincided nicely with all else I had going on. That being said market is ridoncoulus choppy and I had to make sure today unlike other days the trend was in my favor. Even then a couple tanked along with my heart and while I was building a brick house waiting for the stock to come back up I noticed that once stock got shaken tickers kinda follow. So I agree with "TRADEGEEK" about following anything blindly as that can get you in all kinds of trouble and fast with this market. Hope you understood the macd 60!
I am still going over videos to see if I missed anything and also open to hear what every other day trader. scalper and swingtrader use on their systems to assist becoming successful. Till now I have been pretty much just waiting on 2 or 3 bar reversal on the 15 min chart. Wait for engulfing candle and slide in. Getting a little anxious also got me in trouble as I tried to catch the bottom of the "dip"...sigh... Expensive lessons....

You don't mean MACD you mean RSI. Very important distinction.

 

[dmaffo]

You don't mean MACD you mean RSI. Very important distinction.

WOW, how did I completely noob that up... I admit to the entire forum I noobed that one up. Sorry and I stand corrected. Thanks...

 

[guyonabuffalo]

I use the 5m timeframe and use the swingarm and a 240ema(20ema on 60m). I also placed the 60m swingarm on my chart as well with only zone 4 showing. I look at the trend direction of the 240ema and trade in that direction. Place an order at zone 4 and place my stop just beyond the trailing stop. On the /MES and /MNQ, I'm risking no more than $40-$50 per contract. If price runs a bit, I'll set my stop to breakeven. If I'm stopped out, then I'm stopped out. Always another bus somewhere else.

I use the 60m swingarm zone 4 as support or resistance. I mostly ignore the other timeframes and the other indicators so I'm not in information overload and paralyze myself from taking a trade.

Also, I've noticed that the first touch of zone 2(.618) after the swingarm turns bullish/bearish is usually buyable/sellable. When taking that trade, I place my stop just above/below the zone 3 line.

Chart logic: https://tos.mx/cowZQTY

 

[merryDay]

@guyonabuffalo I added the 240EMA to my 10min chart. I have never used such a long projected EMA before. It presents great demarkation.

Thank you for sharing.

 

[BenTen]

Just posted this video for all the new members.

 

[Drgrcrpilot]

Greetings, New to the group, I stumbled upon this by accident. My hat is off to Jose and Ben! I'm thrilled to start paper trade this the next few days before I use it on my live account. I was checking my old trades and setups vs this, wow very similar entries on the 15m charts, in the end, I entered, exited or did not take the trade because I didn't have the confirmation I needed. I have high hopes that this will help me add another layer to confirm my decision and take some stress away. Thank you for your hard work!

 

[DDW]

Today with advise taken into consideration I tried used 1&5 min swingarm, supertrend, carter squeeze scalper trend, macd 60 buy, and ended up only taking 1000 to 5000 per trade size and ended up $878.00 on the green. I stopped and logged out to keep and not give back my profit for day. There were a few times HTZ, SINT and DLOC dipped on me to -$200 almost instantly and my heart sank, but, today because of smaller position and all my indicators were telling me to hold on to my shorts and let it breath a little instead, and voila, after a fews mins all came back and gave me a win that I took way too fast as they all went on to gain much more on every trade, except DLOC which I got out just in time before it tanked. I took my profit way to early. I will have to work on that as INO did that to me yesterday. Either way would love some feedback on what everyone uses on their charts. I am going over all Jose videos again as I am sure ill get more every time I watch. Just wanted to share that at least today with just shy of 15% given the size I traded today which I think is great!! I am brand new member here but am I ever glad I found this community! Thank you all for giving me a breath of fresh air, and courage to get out there today and give it another go. !

Seriously? You are trading with real money using a system you don't know how to use yet and lose 2,600, and the very next day you are still trading with real money? WTF?