Repaints AGAIG OV Oracle System For ThinkOrSwim

[suprtrev]

The AGAIG Long Short Indicator has worked extremely well for me in regard to my "edge" in deciding when to make a trade. I combine it with Linear Regression channels to determine when to buy calls or puts.
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1. The System (Trader Brian Jones on X) - I use the 10/50 SMA and then add the 200 SMA to combine this strategy with the market
flow learned from Oscar Velez.
2. AGAIG No Arrows - This is the "Long/Short" indicator
3. AGAIG Reversal Pivot Lines - honestly could trade with only these two with good risk management
4. I use a combination of 3 different Linear Regression indicators. These indicators combined show me if
the trend on a stock is telling me I should be waiting on calls or puts.
a. Linear Regression Anchored Metal - Start 9:30 (Central), End 1600, endplottime 2359
b. Least Square Method - LSMAv2 - I turn off all of the plots on this except the
MiddleLR/UpperLR/LowerLR
c. Linear Regression Clouds - I use two of these. One plotted for the number of 30 minute candles
(extended hours off) over 10 day period (150) and another using 30 minute candles over 30 day
period (450). Both using deviation multiplier of 2.0 and filtering all signals.
5. My lower indicator is Sharkwave by TraderOracle. I adjusted the wt channel len to 27 and wt average
len to 36 as the indicator seemed to react better (slower) to my trading style.


My checklist is as follows...
1. Linear Regression/Sharkwave - indicate a likely support/resistance and reversal scenario? If the stock doesn't show overbought/sold in both it doesn't go into my daily "Eyes on" watchlist. Has the opening price/candle moved out of the upper/lower edges of the channels and looks to be moving back towards the center?
2. As Good As It Gets - Short/Long signal as well as Reversal Pivot Lines
3. The System SMA crossover - indicating buy/sell - keeping in mind the call/put contract decision is being based on the trend shown from linear regression
4. Oscar Valez - Is the SMA gap wide and in favor of shortening in the direction of the trend or is it very narrow in favor of expanding in the direction of the trend.

I believe I could trade just on 1 and 2 but adding the others gives me added confidence in either the trend of the stock or that the stock is consolidating or actually moving to the next area.

I usually only trade 3 contracts at a time and will close single contracts as they reach certain points. I don't wait for the "Long/Short" indicator to show up and then close all of them. If there doesn't appear to be any institutional moves happening, I'll take a small gain on 1 contract and continue using good risk management for the next 2 contracts.

It's not perfect but has really improved my understanding of market moves as well as my edge. If you are considering using the System, Oscar Velez, or Sharkwave (TraderOracle) indicators I'd highly suggest finding them and studying them before implementing them.

I also watch TNX:CGI (Interest on 10 year notes) and subscribe to Peter Tarr for Macro economic news which is something I'm now focusing on understanding more. Here's my chart. Hope this works as well for you guys as it has for me.

 

[coloradotrader]

No worries. Thank you for the quick responses. That indicator has worked extremely well for me with regards to my "edge" in deciding when to make a trade. I combine it with Linear Regression channels to determine when to buy calls or puts. View attachment 22369

@suprtrev - if you don't mind, can you share what timeframes work best for you and are you taking positions immediately on the long / short signals? I am still honing my edge using this great indicator. Curious of other's experiences.

 

[suprtrev]

I use only the 10 day 30 minute chart. I mostly wait for the price to exit the last linear regression bottom or top before entering a trade. In this example I would have entered when the price went above the blue cloud. At times the linear regression clouds sit inside the blue and red regression lines so I wait until outside of the blue line. But only if "Long" or "Short" appear as well.

 

[spat]

No worries. Thank you for the quick responses. That indicator has worked extremely well for me with regards to my "edge" in deciding when to make a trade. I combine it with Linear Regression channels to determine when to buy calls or puts. View attachment 22369

How are you getting edge on this? I am using LRC as well entering the position with long signal, when short comes I'm exiting and then short gets vanished. This happened three days in a row and there is no break for my loosing streak. Could you please help me regarding entry/exits on what condition/strategy

 

[suprtrev]

1. The System (Trader Brian Jones on X) - I use the 10/50 SMA and then add the 200 SMA to combine this strategy with the market
flow learned from Oscar Velez.
2. AGAIG No Arrows - This is the "Long/Short" indicator
3. AGAIG Reversal Pivot Lines - honestly could trade with only these two with good risk management
4. I use a combination of 3 different Linear Regression indicators. These indicators combined show me if
the trend on a stock is telling me I should be waiting on calls or puts.
a. Linear Regression Anchored Metal - Start 9:30 (Central), End 1600, endplottime 2359
b. Least Square Method - LSMAv2 - I turn off all of the plots on this except the
MiddleLR/UpperLR/LowerLR
c. Linear Regression Clouds - I use two of these. One plotted for the number of 30 minute candles
(extended hours off) over 10 day period (150) and another using 30 minute candles over 30 day
period (450). Both using deviation multiplier of 2.0 and filtering all signals.
5. My lower indicator is Sharkwave by TraderOracle. I adjusted the wt channel len to 27 and wt average
len to 36 as the indicator seemed to react better (slower) to my trading style.


My checklist is as follows...
1. Linear Regression/Sharkwave - indicate a likely support/resistance and reversal scenario? If the stock doesn't show overbought/sold in both it doesn't go into my daily "Eyes on" watchlist. Has the opening price/candle moved out of the upper/lower edges of the channels and looks to be moving back towards the center?
2. As Good As It Gets - Short/Long signal as well as Reversal Pivot Lines
3. The System SMA crossover - indicating buy/sell - keeping in mind the call/put contract decision is being based on the trend shown from linear regression
4. Oscar Valez - Is the SMA gap wide and in favor of shortening in the direction of the trend or is it very narrow in favor of expanding in the direction of the trend.

I believe I could trade just on 1 and 2 but adding the others gives me added confidence in either the trend of the stock or that the stock is consolidating or actually moving to the next area.

I usually only trade 3 contracts at a time and will close single contracts as they reach certain points. I don't wait for the "Long/Short" indicator to show up and then close all of them. If there doesn't appear to be any institutional moves happening, I'll take a small gain on 1 contract and continue using good risk management for the next 2 contracts.

It's not perfect but has really improved my understanding of market moves as well as my edge. If you are considering using the System, Oscar Velez, or Sharkwave (TraderOracle) indicators I'd highly suggest finding them and studying them before implementing them.

I also watch TNX:CGI (Interest on 10 year notes) and subscribe to Peter Tarr for Macro economic news which is something I'm now focusing on understanding more. Here's my chart. Hope this works as well for you guys as it has for me.

http://tos.mx/!2BxFKxGI

 

[csricksdds]

1. The System (Trader Brian Jones on X) - I use the 10/50 SMA and then add the 200 SMA to combine this strategy with the market
flow learned from Oscar Velez.
2. AGAIG No Arrows - This is the "Long/Short" indicator
3. AGAIG Reversal Pivot Lines - honestly could trade with only these two with good risk management
4. I use a combination of 3 different Linear Regression indicators. These indicators combined show me if
the trend on a stock is telling me I should be waiting on calls or puts.
a. Linear Regression Anchored Metal - Start 9:30 (Central), End 1600, endplottime 2359
b. Least Square Method - LSMAv2 - I turn off all of the plots on this except the
MiddleLR/UpperLR/LowerLR
c. Linear Regression Clouds - I use two of these. One plotted for the number of 30 minute candles
(extended hours off) over 10 day period (150) and another using 30 minute candles over 30 day
period (450). Both using deviation multiplier of 2.0 and filtering all signals.
5. My lower indicator is Sharkwave by TraderOracle. I adjusted the wt channel len to 27 and wt average
len to 36 as the indicator seemed to react better (slower) to my trading style.


My checklist is as follows...
1. Linear Regression/Sharkwave - indicate a likely support/resistance and reversal scenario? If the stock doesn't show overbought/sold in both it doesn't go into my daily "Eyes on" watchlist. Has the opening price/candle moved out of the upper/lower edges of the channels and looks to be moving back towards the center?
2. As Good As It Gets - Short/Long signal as well as Reversal Pivot Lines
3. The System SMA crossover - indicating buy/sell - keeping in mind the call/put contract decision is being based on the trend shown from linear regression
4. Oscar Valez - Is the SMA gap wide and in favor of shortening in the direction of the trend or is it very narrow in favor of expanding in the direction of the trend.

I believe I could trade just on 1 and 2 but adding the others gives me added confidence in either the trend of the stock or that the stock is consolidating or actually moving to the next area.

I usually only trade 3 contracts at a time and will close single contracts as they reach certain points. I don't wait for the "Long/Short" indicator to show up and then close all of them. If there doesn't appear to be any institutional moves happening, I'll take a small gain on 1 contract and continue using good risk management for the next 2 contracts.

It's not perfect but has really improved my understanding of market moves as well as my edge. If you are considering using the System, Oscar Velez, or Sharkwave (TraderOracle) indicators I'd highly suggest finding them and studying them before implementing them.

I also watch TNX:CGI (Interest on 10 year notes) and subscribe to Peter Tarr for Macro economic news which is something I'm now focusing on understanding more. Here's my chart. Hope this works as well for you guys as it has for me.

http://tos.mx/!2BxFKxGI

Good commentary - you might also want to use my modified ProfitMaximizerArrows as they are working very accurate for me.

#// This source code is subject to the terms of the Mozilla Public License 2.0 at https:
#// © KivancOzbilgic
#//developer: @KivancOzbilgic
#//author: @KivancOzbilgic
#study("Profit Maximizer","PMax", overlay=true, format=format.price, precision=2, resolution="")
# Converted and mod by Sam4Cok@Samer800 - 05/2024
#Modified by C. S. Ricks 5/30/24.

input timeframe = {default "Chart", "Manual"};
input manualTimeframe = AggregationPeriod.FIFTEEN_MIN;
input MovAvgType = { "SMA",default "EMA", "WMA", "DEMA", "TMA", "VAR", "WWMA", "ZLEMA", "TSF", "HULL"};
input Source = FundamentalType.HL2; # "Source"
input atrLength = 10; # "ATR Length"
input atrMultiplier = 3.0; # "ATR Multiplier"
input movAvgLength = 8; # "Moving Average Length"
input ChangeAtrCalculationMethod = yes ; # "Change ATR Calculation Method ?"
input NormalizeAtr = no ; # "Normalize ATR ?"
input ShowMovingAverage = yes; # "Show Moving Average?"
input showMovAvgCrossingSignals = yes; # "Show Crossing Signals?"
input showPriceCrossingSignals = no; # "Show Price/Pmax Crossing Signals?"
input highlighterOnOff = yes; # "Highlighter On/Off ?"

def na = Double.NaN;
def last = IsNaN(close);
def ohlc = if highlighterOnOff then ohlc4 else na;
def src; def tr;
switch (timeframe) {
case "Manual":
src = Fundamental(FundamentalType = Source, Period = manualTimeframe);
tr = TrueRange(high(Period = manualTimeframe), close(Period = manualTimeframe), low(Period = manualTimeframe));
default :
src = Fundamental(FundamentalType = Source);
tr = TrueRange(high, close, low);
}


#--- Functions
#pine_linreg(src, len, offset=0) =>
script linreg {
input src = close;
input len = 100;
input offset = 0;
def na = Double.NaN;
def bar_index = IsNaN(close);
def x_sum = if bar_index then na else
fold i = 0 to len with p do
p + i;
def xx_sum = if bar_index then na else
fold ii = 0 to len with pp do
pp + ii * ii;
def y_sum = Sum(src, len);
def xy_sum = fold j = 0 to len with q do
q + j * GetValue(src, len - j - 1);
def slope = (len * xy_sum - x_sum * y_sum) / (len * xx_sum - x_sum * x_sum);
def intercept = (y_sum - slope * x_sum) / len;
def linreg = intercept + slope * (len - offset - 1);
plot out = linreg;
}
script f_var {
input src = close;
input length = 20;
def alpha = 2 / (length + 1);
def ud1 = if src > src[1] then src - src[1] else 0;
def dd1 = if src < src[1] then src[1] - src else 0;
def UD = Sum(ud1, 9);
def DD = Sum(dd1, 9);
def vCMO = (UD - DD) / (UD + DD);
def CMO = if IsNaN(vCMO) then 0.0 else AbsValue(vCMO);
def VAR = (alpha * CMO * src) + (1 - alpha * CMO) * If(IsNaN(VAR[1]), 0, VAR[1]);
plot out = if length == 1 then src else VAR;
}
#Wwma_Func(src, length) =>
script Wwma_Func {
input src = close;
input length = 2;
def alpha = 1 / length;
def WWMA = alpha * src + (1 - alpha) * If(IsNaN(WWMA[1]), 0, WWMA[1]);
plot return = WWMA;
}
#Zlema_Func(src, length) =>
script Zlema_Func {
input src = close;
input length = 2;
def zxLag = if length / 2 == Round(length / 2, 0) then length / 2 else (length - 1) / 2;
def zxEMAData = src + (src - src[zxLag]);
def ZLEMA = ExpAverage(zxEMAData, length);
plot return = ZLEMA;
}
#Tsf_Func(src, length) =>
script Tsf_Func {
input src = close;
input length = 2;
def lrc = Inertia(src, length);
def lrc1 = linreg(src, length, 1);
def lrs = lrc - lrc1;
def TSF = Inertia(src, length) + lrs;
plot retur = TSF;
}
#ma(src, length, type) =>
script getMA {
input src = close;
input length = 80;
input type = "SMA";
def ma =
if type == "SMA" then Average(src, length) else

if type == "VAR" then f_var(src, length) else

if type == "HULL" then HullMovingAvg(src, length) else Average(src, length);
plot result = ma;
}
def atr2 = Average(tr, atrLength);
def atr1 = WildersAverage(tr, atrLength);
def nATR = atrMultiplier * (if ChangeAtrCalculationMethod then atr1 else atr2);

def longStop; def shortStop;
def MAvg = getMA(src, movAvgLength, MovAvgType);
def longStop1 = if NormalizeAtr then MAvg - nATR / src else MAvg - nATR;
def longStopPrev = if (isNaN(longStop[1]) or !longStop[1]) then longStop1 else longStop[1];
longStop = if MAvg > longStopPrev then Max(longStop1, longStopPrev) else longStop1;
def shortStop1 = if NormalizeAtr then MAvg + nATR / src else MAvg + nATR;
def shortStopPrev = if isNaN(shortStop[1]) or !shortStop[1] then shortStop1 else shortStop[1];
shortStop = if MAvg < shortStopPrev then Min(shortStop1, shortStopPrev) else shortStop1;
def dir;
def dir1 = if isNaN(dir[1]) or !dir[1] then 1 else dir[1];
dir = if dir1 ==-1 and MAvg > shortStopPrev then 1 else
if dir1 == 1 and MAvg < longStopPrev then -1 else dir1;
def PMax = if dir == 1 then longStop else shortStop;

#-- Signals
def buySignalk = if showMovAvgCrossingSignals and !NormalizeAtr then (MAvg Crosses Above PMax) else 0;
def sellSignallk = if showMovAvgCrossingSignals and !NormalizeAtr then (MAvg Crosses Below PMax) else 0;
def buySignalc = if showPriceCrossingSignals then (src Crosses Above PMax) else 0;
def sellSignallc = if showPriceCrossingSignals then (src Crosses Below PMax) else 0;

def touchUp = if isNaN(touchUp[1]) then 0 else if touchUp[1] > 10 then 0 else
if (dir!=dir[1]) then 0 else
if (src Crosses Above PMax) and dir<0 then touchUp[1] + 1 else touchUp[1];
def touchDn = if isNaN(touchDn[1]) then 0 else if touchDn[1] > 10 then 0 else
if (dir!=dir[1]) then 0 else
if (src Crosses Below PMax) and dir>0 then touchDn[1] + 1 else touchDn[1];

#-- plot
plot MovAvgLine = if ShowMovingAverage then MAvg else na; # "Moving Avg Line"
plot pALLUp = if dir>0 then PMax else na; # "PMax",
plot pALLDn = if dir<0 then PMax else na; # "PMax",
pALLUp.SetLineWeight(3);
pALLDn.SetLineWeight(3);
MovAvgLine.AssignValueColor(if MAvg>PMax then Color.Green else Color.RED);
pALLup.AssignValueColor(if touchDn > 0 then Color.GREEN else Color.Green);
pALLDn.AssignValueColor(if touchUp > 0 then Color.RED else Color.RED);

AddCloud(ohlc, pALLUp, Color.GREEN);
AddCloud(pALLDn, ohlc, Color.RED);

input usealerts = yes;
alert(usealerts and pALLDn[1] == 1, "Short", alert.bar, sound.ring);
alert(usealerts and pALLUp[1] == 1, "Long", alert.bar, sound.ring);
#-- end of code

 

[suprtrev]

I absolutely will. Thank you!!! The AGAIG indicators are absolutely perfect for my strategy. Worked incredibly well on SPOT and AMZN this morning.

 

[csricksdds]

I absolutely will. Thank you!!! The AGAIG indicators are absolutely perfect for my strategy. Worked incredibly well on SPOT and AMZN this morning.

Thanks - working for me as well although I use my chart without candles:
https://usethinkscript.com/threads/agaig-trading-path-chart-for-thinkorswim.18961/

 

[suprtrev]

Watchlist column for the Sharkwave lower indicator.
https://usethinkscript.com/threads/sharkwavetrend-for-thinkorswim.17331/page-2#post-135931

 

[fire580]

@suprtrev could you explain when you have time what the dots on your version of
the sharkwave indicator are for, and some info of the profit maximizer arrows....Thanks

 

[suprtrev]

The dots represent divergence. I use it as a reversal indicator and only trade when green/red cloud appear and the indicator is in the oversold/overbought zones, has come out of the linear regression channel, and I get a "short/long" signal. TraderOracle created the indicator. Here's his explanation.

 

[fire580]

Thank you for your prompt response, really appreciate it.

 

[suprtrev]

Gladly. All the best to you in your trades!! Keep me posted if you discover any ways to improve on this strategy!