Repaints AGAIG Best Trading Chart Setup For ThinkOrSwim

[csricksdds]

@csricksdds Your trading strategy in the earlier comments are so helpful along with the charts! thank you!

This is the current chart I'm using for scalping.
read more: https://usethinkscript.com/threads/agaig-extra-profit-from-credit-spreads-in-thinkorswim.20070/

 

[cnsling]

UPDATE: 9/30/24 new indicators! new chart!
see the above post
UPDATE: 4/18/24 added overview of indicators used and why, explanation located below chart image

The market has three moves: Up, Down and Sideways. My goal is the trade these movements using the simplest of indicators to head me in the right direction. It works on all time frames (the best being an hour or less).

Chart Link: http://tos.mx/!mPuNL9nn Click here for --> Easiest way to load shared links

I only day trade one chart (SPY, SPX, or QQQ) following my indicators (knowing that they repaint - but so does life!). I try to never trade up in a down market, nor down in an up market. I also watch for 8/20 crossovers and will exit a put if it crosses up, or a call if it crosses down (some traders trade only the crossovers).

an overview the indicators and labels UPDATE: 4/18/24
First we’ll discuss the Labels at top of the chart:

ATR: This label represents the Average True Range for Daily/Weekly expected movement. Since candles move 6-10 (average) on any time frame this one is set to (9) for a nine period trend for Days or Weeks. It could be changed to any lookback number you choose.

PSAR Trans: PSAR is defined as “Parabolic Stop and Reverse” showing candle change in direction and listing how many bars ago the change took place. This Label is coordinated with the Yellow Dotted Line down on the chart with Label words “Last PSAR Transition” showing candles above/below that line. PSAR indicates when a price trend breaks ahead of a potential reversal (i.e. Follow the Money).

StackedEMAs 8-13-21-34-55: These are all Fibonacci Levels (levels frequently used as turning points by algorithmic computer traders). When the label is Green these levels are lined up positive (probable uptrend); when Red they are lined up negative (probable downtrend); when Yellow the market is probably choppy with no completely defined direction. I use EMAs instead of SMAs (Simple Moving Averages) since EMAs favor current trend rather than overall historic trend.

5-8 EMAs: This is a Red/Green color label to show an initial trend change possibly taking place.

ORB Yellow Bordered Label: (OPENING RANG BREAKOUT) This label is only active during actual trading hours. It will designate if the stock (ETF) is trading within, above, or below the Opening Range Breakout. On the chart it is a broken line while during the first 15 min. breakout and a solid line the rest of trading day. I am using a 15 min. Breakout Range whereas some traders prefer the first 30 minutes.

TTM Trend Label: The TTM Trend (free oscillator on TOS) is a lower oscillator showing a four color movement. My label only shows Green/Red for trend up/down. My Red/Green Candles are coordinated with the oscillator as well (but again only in the 2-color mode).

The next Label shows trend as Green “OVERALL BULLISH”; Red “OVERALL BEARISH”; or Yellow “CHOP HOLD.”

Now a look at the Chart itself:​

My chart is setup using Heikin Ashi Candles. If you use these make sure you find an explanation for these as verses regular candles. Basically Heikin Ashi candles are good for a day trading trend, with the shadows (wicks) showing direction (rather than a potential reversal as on a regular candle). Flat bottoms/tops show strong based direction with an upper/lower wick.
The Green/Red Candles giving a visual overall trend.
The candles are painted with momentum from the TTM Squeeze Indicator.
Momentum is more responsive than the default heiken ashi trend coloring.

Last PSAR Transition Yellow Dotted Line was explained above.

The Long/Short Chart Bubbles are an indicator I developed showing probable change in direction.

A solid Red/Green Line also shows a high/low probable transition trend point.

The shaded (cloud) Red/Green Box-like areas are Support and Resistance areas.

The larger White/Yellow arrows are trend reversal areas. The smaller Green/Cyan show a continuation trend for up to 8 candles. Strong reversal indications are when two or more arrows overlap each other and/or a long/short bubble is present. Because indicators repaint my goal is to have more than one indicator showing a change taking place

The White Dotted Lines show PDHi (Previous Days High) and PDLow (Previous Day Low). These are frequently Resistance/Support areas unless Stock/ETF in a breakout mode above/below yesterday’s close.

The PRICE POINTER is one of my favorites which moves up/down with actual price.

The Blue/White lines are the 8/20 EMA trend lines. The 8 moves the fastest in correlation with the 20. Both levels are Fibonacci related (I’m using a 20 instead of the 21 since the 21 is a frequent change in direction area (the 20 gives me a heads-up). Also notice when the Blue Crosses the White (Crossovers) as many individuals trade only the crossovers. Be careful with these lines approaching each other, however, as it may be a pivot rather than a crossover?

That pretty much covers my AGAIG Best Trading Chart Setup. Thanks to useThinkScript members whose indicators I am using, or have modified, for my chart!

My background in life was mostly in a visual profession. Notice that I don’t use any lower indicators as it’s difficult (at least for me) to comprehend an overload of competing information.

When I taught in The Options Club here in The Villages (largest retirement community in U.S.) my moniker was “Visual Options Trading” because:

“if you can’t see it how can you possibly trade it?”​

Excellent indicator group, would there be a scanner for AGAIG?

 

[MerryDay]

Excellent indicator group, would there be a scanner for AGAIG?

Sadly no.
Repainters can not be used in scans.
read more:
https://usethinkscript.com/threads/problems-with-repainting-indicators.20111/#post-148479

 

[PennnysPapi]

Good morning @csricksdds . I love the chart setup and have been using it, but I don't see on the description where it explains the meaning of all the arrows. There are smaller green and cyan arrows that seem to indicate smaller trend reversals off the HiLo cloud, but there are also bigger white arrows that I cant seem to figure out. I know the yellow arrows are long entry suggestions.
Could anyone tell me what these are?
Merry Christmas, Happy Holiday, or just Good Day to everyone!

 

[avi1971]

This is a great chart. But I cannot see anything when I use larger time frames. Please see below for one day timeframe. Any suggestions to make it more usable.

 

[joecmk12]

UPDATE: 9/30/24 new indicators! new chart!
see the above post
UPDATE: 4/18/24 added overview of indicators used and why, explanation located below chart image

The market has three moves: Up, Down and Sideways. My goal is the trade these movements using the simplest of indicators to head me in the right direction. It works on all time frames (the best being an hour or less).

Chart Link: http://tos.mx/!mPuNL9nn Click here for --> Easiest way to load shared links

I only day trade one chart (SPY, SPX, or QQQ) following my indicators (knowing that they repaint - but so does life!). I try to never trade up in a down market, nor down in an up market. I also watch for 8/20 crossovers and will exit a put if it crosses up, or a call if it crosses down (some traders trade only the crossovers).

an overview the indicators and labels UPDATE: 4/18/24
First we’ll discuss the Labels at top of the chart:

ATR: This label represents the Average True Range for Daily/Weekly expected movement. Since candles move 6-10 (average) on any time frame this one is set to (9) for a nine period trend for Days or Weeks. It could be changed to any lookback number you choose.

PSAR Trans: PSAR is defined as “Parabolic Stop and Reverse” showing candle change in direction and listing how many bars ago the change took place. This Label is coordinated with the Yellow Dotted Line down on the chart with Label words “Last PSAR Transition” showing candles above/below that line. PSAR indicates when a price trend breaks ahead of a potential reversal (i.e. Follow the Money).

StackedEMAs 8-13-21-34-55: These are all Fibonacci Levels (levels frequently used as turning points by algorithmic computer traders). When the label is Green these levels are lined up positive (probable uptrend); when Red they are lined up negative (probable downtrend); when Yellow the market is probably choppy with no completely defined direction. I use EMAs instead of SMAs (Simple Moving Averages) since EMAs favor current trend rather than overall historic trend.

5-8 EMAs: This is a Red/Green color label to show an initial trend change possibly taking place.

ORB Yellow Bordered Label: (OPENING RANG BREAKOUT) This label is only active during actual trading hours. It will designate if the stock (ETF) is trading within, above, or below the Opening Range Breakout. On the chart it is a broken line while during the first 15 min. breakout and a solid line the rest of trading day. I am using a 15 min. Breakout Range whereas some traders prefer the first 30 minutes.

TTM Trend Label: The TTM Trend (free oscillator on TOS) is a lower oscillator showing a four color movement. My label only shows Green/Red for trend up/down. My Red/Green Candles are coordinated with the oscillator as well (but again only in the 2-color mode).

The next Label shows trend as Green “OVERALL BULLISH”; Red “OVERALL BEARISH”; or Yellow “CHOP HOLD.”

Now a look at the Chart itself:​

My chart is setup using Heikin Ashi Candles. If you use these make sure you find an explanation for these as verses regular candles. Basically Heikin Ashi candles are good for a day trading trend, with the shadows (wicks) showing direction (rather than a potential reversal as on a regular candle). Flat bottoms/tops show strong based direction with an upper/lower wick.
The Green/Red Candles giving a visual overall trend.
The candles are painted with momentum from the TTM Squeeze Indicator.
Momentum is more responsive than the default heiken ashi trend coloring.

Last PSAR Transition Yellow Dotted Line was explained above.

The Long/Short Chart Bubbles are an indicator I developed showing probable change in direction.

A solid Red/Green Line also shows a high/low probable transition trend point.

The shaded (cloud) Red/Green Box-like areas are Support and Resistance areas.

The larger White/Yellow arrows are trend reversal areas. The smaller Green/Cyan show a continuation trend for up to 8 candles. Strong reversal indications are when two or more arrows overlap each other and/or a long/short bubble is present. Because indicators repaint my goal is to have more than one indicator showing a change taking place

The White Dotted Lines show PDHi (Previous Days High) and PDLow (Previous Day Low). These are frequently Resistance/Support areas unless Stock/ETF in a breakout mode above/below yesterday’s close.

The PRICE POINTER is one of my favorites which moves up/down with actual price.

The Blue/White lines are the 8/20 EMA trend lines. The 8 moves the fastest in correlation with the 20. Both levels are Fibonacci related (I’m using a 20 instead of the 21 since the 21 is a frequent change in direction area (the 20 gives me a heads-up). Also notice when the Blue Crosses the White (Crossovers) as many individuals trade only the crossovers. Be careful with these lines approaching each other, however, as it may be a pivot rather than a crossover?

That pretty much covers my AGAIG Best Trading Chart Setup. Thanks to useThinkScript members whose indicators I am using, or have modified, for my chart!

My background in life was mostly in a visual profession. Notice that I don’t use any lower indicators as it’s difficult (at least for me) to comprehend an overload of competing information.

When I taught in The Options Club here in The Villages (largest retirement community in U.S.) my moniker was “Visual Options Trading” because:

“if you can’t see it how can you possibly trade it?”​

Do those Long/Short chart indicators repaint? I was using it on the GBP/JPY 15min TF where it indicated to go short with the short label and arrow. A few candles later it was no longer there.

 

[johnnykalsi]

Hi @csricksdds
Thank you for the awesome Indicator set.
I went through all the pages but i couldn't find details on the bottom part of the chart

I see a large red/green bar overlayed on the TTM bars, what do those mean?
Also there is a line @ 40%, what is the significance of that?
Thank you

 

[kiddtan]

UPDATE: 9/30/24 new indicators! new chart!

This is a new update I am using for all time frames. You can continue to use the old setup (see post below) or this new one if you prefer. I am using the new one on all time frames.
Chart Link: AGAIG BestTradingChartSetup 9-30-24 http://tos.mx/!ayok5Szv

Chart Look:

https://imgur.com/a/hn52SQ4

Here is some further narration.

AGAIG Best Trading Chart Setup Update​

I have added a couple of things to this chart. Added is the 9:55 “Time To Trade Heads Up” (30 min ORB coming to a finish and methinks the first two changes in direction may be the best trades of the day?) and I have also added a Revamped Oscillator showing on Lower and Overlaid on my Lowered Squared Histogram. The Histogram coordinates with the upper Long/Short Bubbles and the Oscillator shows previous candle movement as well as current candle movement. I will usually enter a trade when the Red/Green Heikin Ashi Candle first shows and is corroborated by my Long/Short Bubble and/or another change in direction indicator.

Heikin Candles Overview​

Let’s review Heikin Candles so as to better understand them.

A Green Candle is Bullish. It should be Flat on the bottom with wick protruding up from top of candle. The wick shows continuing direction movement. As the Candle moves up you would like for each candle to be larger and close above previous candle (acceleration is body growing in length). If you start getting a wick showing on the bottom as well as top momentum may be slowing and may be signaling a change in direction (also probable change if showing candle shrinking in size as well as closing below last candle). A candle with wicks protruding evenly both sides is most likely a change in direction.

A Red Candle is Bearish. It should be Flat on Top with wick protruding down from bottom of candle. The wick shows continuing direction movement. As the Candle moves down you would like for each candle to be larger and close below previous candle (acceleration is body growing in length). If you start getting a wick showing on the top as well as bottom momentum may be slowing and may be signaling a change in direction (also probable change if showing candle shrinking in size and closing above last candle). A candle with wicks protruding evenly both sides is most likely a change in direction.

Hi i find your chart very useful but i have a few question hope u can help me out with it, when ever a signal out but sometime after a few bars then it disappear maybe can you guide me on your entry and exit rule and some message i don't understand
CHART ALERT 10 d 5m
chart for QQQ
shared_shared_AsGood_Tr endCurve8 (yes, no, yes, yes, yes, 14, 1, WMA, HMA, 60, JMA, 5, HMA, 15, CLOSE, 1, 3, 1, 10, 0.8, no, 0.5, 20, 2, yes, 0.2, 0.9, yes, NoSound)
Exit Buy Alert

CHART ALERT 10 d 5m
chart for QQQ
shared_shared_ AsGood_Tr endCurve8 (yes, no, yes, yes, yes, 14, 1, WMA, HMA, 60, JMA, 5, HMA, 15, CLOSE, 1, 3, 1, 10, 0.8, no, 0.5, 20, 2, yes, 0.2, 0.9, yes, NoSound)
Exit Sell Alert

 

[PennnysPapi]

This is a great chart. But I cannot see anything when I use larger time frames. Please see below for one day timeframe. Any suggestions to make it more usable.

You can go into the Edit Studies screen and remove the indicators that show different market timings (ie; Time to trade, UK market open, power hour, etc.)

 

[hballa]

Hi,
I have been using AsGoodAsltGets_Indicator4 (attached screenshot) to get short and long signals. some times signal appears and in 2nd minute it's gone. Is this expected? I got this study from forums here.

 

[useThinkScript]

Do those Long/Short chart indicators repaint? I was using it on the GBP/JPY 15min TF where it indicated to go short with the short label and arrow. A few candles later it was no longer there.

Hi i find your chart very useful but i have a few question hope u can help me out with it, when ever a signal out but sometime after a few bars then it disappear maybe can you guide me on your entry and exit rule and some message i don't understand
CHART ALERT 10 d 5m
chart for QQQ
shared_shared_AsGood_Tr endCurve8 (yes, no, yes, yes, yes, 14, 1, WMA, HMA, 60, JMA, 5, HMA, 15, CLOSE, 1, 3, 1, 10, 0.8, no, 0.5, 20, 2, yes, 0.2, 0.9, yes, NoSound)
Exit Buy Alert

CHART ALERT 10 d 5m
chart for QQQ
shared_shared_ AsGood_Tr endCurve8 (yes, no, yes, yes, yes, 14, 1, WMA, HMA, 60, JMA, 5, HMA, 15, CLOSE, 1, 3, 1, 10, 0.8, no, 0.5, 20, 2, yes, 0.2, 0.9, yes, NoSound)
Exit Sell Alert

Hi,
I have been using AsGoodAsltGets_Indicator4 (attached screenshot) to get short and long signals. some times signal appears and in 2nd minute it's gone. Is this expected? I got this study from forums here.

Yes, all repainting threads repaint
Here is @csricksdds blog on how to trade with repainters:
https://usethinkscript.com/threads/agaig-non-repaint-verses-repaint-indicators-for-tos.20126/

 

[csricksdds]

Hi,
I have been using AsGoodAsltGets_Indicator4 (attached screenshot) to get short and long signals. some times signal appears and in 2nd minute it's gone. Is this expected? I got this study from forums here.

These indicators have the ability to repaint. The Long/Short Bubbles are set to 1.75 ATR. If you use one of my charts like http://tos.mx/!XFW9xBEv this one it will have lower Squared Histogram bars that are set to 2.0. I don't usually place a trade until both are showing change in direction. I usually use a 5 min. chart for my trades. Thanks

 

[hballa]

@csricksdds Thanks for your reply, I used your link http://tos.mx/!XFW9xBEv you had mentioned "you don't trade until both are showing change in direction" . sorry I couldn't understand. If you don't mind, can you please give me an example with screenshot?

 

[csricksdds]

@csricksdds Thanks for your reply, I used your link http://tos.mx/!XFW9xBEv you had mentioned "you don't trade until both are showing change in direction" . sorry I couldn't understand. If you don't mind, can you please give me an example with screenshot?

Here is a picture showing lower histogram with bot bubble/histo square for entries on 5 min chart

 

[hballa]

Here is a picture showing lower histogram with bot bubble/histo square for entries on 5 min chart

View attachment 23752

Thanks so much.

 

[alapin]

@csricksdds - Sir I just recently signed up to this forum (although not new to the market). I came across your charts and wanted to reach out and send you my thank you for taking the time to post your scripts, share your knowledge and wisdom with the rest of this community. I went through a # of your posts and very grateful for the information you have shared. I send you my best wishes into this new year!

 

[alapin]

@csricksdds - Love what you have done! I understand you've developed various charts for different types of users. I was wondering of all the charts you've created which is your personal favorite as the designer and which would you say is the most advanced?

 

[csricksdds]

@csricksdds - Love what you have done! I understand you've developed various charts for different types of users. I was wondering of all the charts you've created which is your personal favorite as the designer and which would you say is the most advanced?

Thanks for your comments.

Yes I have developed many charts and think you should use one best fitted to your visual.

I personally only trade two stocks per day (since stocks do nothing more than go up and down (or sideways) so I don't feel I any need to sit and blip around).

Right now the two I traded Friday were VST and MSTR (good volatility and movement but you can pick any two or three you wish).

This is the 3chart grid I most use http://tos.mx/!XFW9xBEv
or I put it down to just two charts
(at 81 I don't want to overtax my brain cell).

The Long/Short Bubbles are set to 1.75 ATR and the lower bars to 2.0 ATR.

When they line up I trade and get out when I'm happy (or out if they repaint).
Most trades are before noon and once in a while in the afternoon as well.

 

[alapin]

Thanks for your comments. Yes I have developed many charts and think you should use one best fitted to your visual. I personally only trade two stocks per day (since stocks do nothing more than go up and down (or sideways) so I don't feel I any need to sit and blip around). Right now the two I traded Friday were VST and MSTR (good volatility and movement but you can pick any two or three you wish). This is the 3chart grid I most use http://tos.mx/!XFW9xBEv or I put it down to just two charts (at 81 I don't want to overtax my brain cell). The Long/Short Bubbles are set to 1.75 ATR and the lower bars to 2.0 ATR. When they line up I trade and get out when I'm happy (or out if they repaint). Most trades are before noon and once in a while in the afternoon as well.

Got it. Thank you.

 

[greekstrader]

Thanks for your comments.

Yes I have developed many charts and think you should use one best fitted to your visual.

I personally only trade two stocks per day (since stocks do nothing more than go up and down (or sideways) so I don't feel I any need to sit and blip around).

Right now the two I traded Friday were VST and MSTR (good volatility and movement but you can pick any two or three you wish).

This is the 3chart grid I most use http://tos.mx/!XFW9xBEv
or I put it down to just two charts
(at 81 I don't want to overtax my brain cell).

The Long/Short Bubbles are set to 1.75 ATR and the lower bars to 2.0 ATR.

When they line up I trade and get out when I'm happy (or out if they repaint).
Most trades are before noon and once in a while in the afternoon as well.

Hi @csricksdds when you say "when they line up I trade" how do you decide to get it confidently when these bubbles and lower bar repaint? what is your confirmation bias?