Pre-Sales VIP Questions

L

Learnbot

Active member
I am not VIP member yet, however, thinking about subscribing to your discord and obtaining the "buy the dip" indicator. I just wanted to check something before I subscribe to VIP, would you be able to post an example of 1min chart for TSLA, Apple, ZM or whatever else stock you see fit (not penny stocks plz since I am not that educated to trade small caps yet). I wanted to see if Buy the Dip works for day trading as well as swing.

Edit: This thread has gotten very long. Added some info below for easier access to information.
Summary:
https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/page-23#post-89427

Helpful links for anyone interested in seeing how VIP members are using the BTD indicator to trade:
Customer's reviews:
More reviews can be found here: https://usethinkscript.com/threads/buy-the-dip-indicator-for-thinkorswim.3553/post-34186
 
Last edited by a moderator:
Sort by date Sort by votes
chIza=iChis1A?H said:
The main issue is Buy and Sell arrow appearing after delay but by the time few candles moved on so hard to take decision due to such delay. any idea on how to fix this timing issue ??
Thanks
Click to expand...
ahh i see what youre saying i honestly dont get too many arrows trading es i just recognize the touch of the zero line as an arrow. mainly just using this to add confirmation with my entries paired with fibonacci levels and rsi divergence i dont trade off of it alone.
 
Upvote 0 Downvote

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

SIGN UP NOW LEARN MORE
@nightowl i have been waiting to see a comment like this. Thank you for sharing. Can you tell us a little bit more about the performance? Is it always correlated to the RSI?what is your winning rate? How did it perform during down trending and side chopping times? I try to take my trades at 5m or 10m. When do you mostly enter? Do you use other indicators to compare?

sorry about so many questions. I still haven’t convinced myself about it.
 
Upvote 0 Downvote
I have noticed a lot of good trades occur just before the line reaches 0, then makes a sharp move up. In back testing, have you noticed good trades when the line doesn't quite reach 0, but close to it? Or, is it best to trade only when it reaches 0?
 
Upvote 0 Downvote
BenTen. Thank you for acknowledging this. I am really trying to figure out clear and concise rules for entry before I trade with real money. When trading a weekly, daily, or hourly chart, the entry rules may have to differ, so that is something that needs to be worked out.

Anyone have a strategy they would like to share in regards to entry rules for each of these timeframes?

Thank You
 
Upvote 0 Downvote
@deansafeleen We need to find a good one. I have used the Anchored VWAP one, its very good but the issue is is delayed signals for buy and sell and I couldn't find any code that fixed that issue so I am also looking for the same one, in case if you know any , let me know I will also update you. Thanks
 
Upvote 0 Downvote
barbaros said:
@nightowl i have been waiting to see a comment like this. Thank you for sharing. Can you tell us a little bit more about the performance? Is it always correlated to the RSI?what is your winning rate? How did it perform during down trending and side chopping times? I try to take my trades at 5m or 10m. When do you mostly enter? Do you use other indicators to compare?

sorry about so many questions. I still haven’t convinced myself about it.
Click to expand...
Well I’ve been using it for a few days now and so far from what I’ve been seeing is it is pretty accurate. If I see a setup for a short and glance at the btd and it’s quite far away from the zero line that adds more confirmation for me to short. I try not to short while it’s close to zero line. It actually works pretty good during choppy times like today for instance on es from 10:45am to 11:23 am it was pretty choppy looked like it was doing an abcd correction or a bear flag and my 5 minute conservative did not signal it as a bottom but my aggressive did signal a bottom which was a short term bottom as price didn’t break under that signal for about 40 min. My 1 minute signaled a few bottoms throughout that chop but any indicator in a one minute timeframe is very sensitive. But like I said I wouldn’t rely on only one indicator for futures maybe something else but not trading the sp500 intraday. I haven’t watched the correlation between rsi and btd too closely but I don’t enter a trade without rsi divergence if that helps because usually rsi divergence occurs when a trend reversal is about to happen from my experience. So yes I use btd for extra confirmation, rsi divergence, Fibonacci levels, ttm wave for momentum measurement and I follow Elliot wave guidelines for identifying bias, targets and pullback zones for each wave. Oh and winning rate is about 75% I’ll get stopped out every now and then by having a stop too tight but overall I haven’t closed a day in the red in over 3 weeks
 
Upvote 0 Downvote
chIza=iChis1A?H said:
The main issue is Buy and Sell arrow appearing after delay but by the time few candles moved on so hard to take decision due to such delay. any idea on how to fix this timing issue ??
Thanks
Click to expand...
I would suggest beginning at 2 minutes,.....too much noise is generated on a 1 minute chart.....
 
Upvote 0 Downvote
chIza=iChis1A?H said:
Hello Everyone : I have one small Qs. How to use Use BTD indicator. I mean I got an idea that if buy arrow shows, we need to buy and same for other "Sell" signal as well. My concern is what to react if we see any reversal indicator during this two ? so how to react on it ? Thanks. I am new to Future trading and I do trade mainly MES and MNQ only. Thanks in advance.
Click to expand...
Hope you worked out your question, but in case not, isn't there a video on how this is used, search,....
 
Upvote 0 Downvote
@jj02520024 Of course. Charts below.

2n4Ese4.png


bVlmqWu.png


WRqB0bE.png


hP3bqBO.png
 
Upvote 0 Downvote
You must log in or register to reply here.
Thread starter Similar threads Forum Replies Date
MerryDay VIP News Questions 4
P Where to start VIP, any manual or introductory video? Questions 7
A VIP Pricing Questions 1
S Questions About "Crosses Above" Questions 7
M VolatilitySwitch Questions Questions 9

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
417 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support
Try VIP Club Today

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top