Repaints AGAIG Trading Path Chart for ThinkOrSwim

[vinvin]

@csricksdds, Thank you for sharing this setup! Could you kindly point out which all indicators in this shared chart contribute to the color changing arrow line and the long / short label signals. I can try but fear of not including the correct ones takes over!

 

[csricksdds]

@csricksdds, Thank you for sharing this setup! Could you kindly point out which all indicators in this shared chart contribute to the color changing arrow line and the long / short label signals. I can try but fear of not including the correct ones takes over!

Thank you for your question...the first thing that comes to mind is a shortened verse from the good book that says "all things work together for good...."

Any indicator by itself should be listed as a "heads up" for a possible change in direction. No indicator by itself is the holy grail. I'm always looking for indications that the trading path might change direction...sometimes the path is very short and sometimes much longer. Are the red/green arrows above/below the white line 20 EMA. Look for crossovers. How many of my upper labels are in agreement? Are we moving away from, or towards the VWAP (Volume Weighted Average Price).

Are we above/below the PSAR (this would have shown candle change in direction if we were using candles). It is the overall movement we're looking for and each of the indicators is looking at change in direction from a little different perspective. It's like getting input from several individuals before making a major decision. I want a batting average of around 90+% with lots of singles, doubles and an occasional home run. Any profit that is better than what your bank pays is successful!

When I was first learning to drive my focus was over the hood looking at the pavement right in front of the car. My dad said "raise your eyes son, and look further down the road" so you can get a better picture of what is overall taking place. Look at all the signs (indicators) and the traffic flow. Stay in tune with your surroundings. The indicators working together make up your surroundings and the more you drive (trade) the easier the journey?

 

[vinvin]

Thank you for your question...the first thing that comes to mind is a shortened verse from the good book that says "all things work together for good...."

Any indicator by itself should be listed as a "heads up" for a possible change in direction. No indicator by itself is the holy grail. I'm always looking for indications that the trading path might change direction...sometimes the path is very short and sometimes much longer. Are the red/green arrows above/below the white line 20 EMA. Look for crossovers. How many of my upper labels are in agreement? Are we moving away from, or towards the VWAP (Volume Weighted Average Price).

Are we above/below the PSAR (this would have shown candle change in direction if we were using candles). It is the overall movement we're looking for and each of the indicators is looking at change in direction from a little different perspective. It's like getting input from several individuals before making a major decision. I want a batting average of around 90+% with lots of singles, doubles and an occasional home run. Any profit that is better than what your bank pays is successful!

When I was first learning to drive my focus was over the hood looking at the pavement right in front of the car. My dad said "raise your eyes son, and look further down the road" so you can get a better picture of what is overall taking place. Look at all the signs (indicators) and the traffic flow. Stay in tune with your surroundings. The indicators working together make up your surroundings and the more you drive (trade) the easier the journey?

Thank you so much for taking the time to explain in detail. Respect! Advice well taken and if I might say, learnt the hard way not be impulsive like when I started out. Did not know what a candle was, other than the ones people use in a place of worship or when the power is out! Anyway, The intent of isolating two of the indicators ( managed to figure out ) was to see how that fits into other indicators I use now, while I am getting used to the flow of various signals in your setup. I need to look more indepth into the standard deviation part---Thanks again!

 

[csricksdds]

Thank you so much for taking the time to explain in detail. Respect! Advice well taken and if I might say, learnt the hard way not be impulsive like when I started out. Did not know what a candle was, other than the ones people use in a place of worship or when the power is out! Anyway, The intent of isolating two of the indicators ( managed to figure out ) was to see how that fits into other indicators I use now, while I am getting used to the flow of various signals in your setup. I need to look more indepth into the standard deviation part---Thanks again!

You're most welcome and thanks for your kind words.

 

[JOSHTHEBANKER]

Is this the most recent version the one I have looks different

 

[useThinkScript]

Is this the most recent version the one I have looks different

Here is the most up-to-date version:
https://usethinkscript.com/threads/agaig-trading-path-chart-for-thinkorswim.18961/#post-143283

Does that help?

 

[jhorton56]

What is the significance/use of the UK Market Close vertical line?

 

[csricksdds]

What is the significance/use of the UK Market Close vertical line?

We lose most Europe volume at that time and sometimes see subtle changes?

 

[Arun85]

Here is link with VWAP added to the chart. Refer to my tutor on Daytrading the VWAP in ThinkOrSwim posted last night at 11:01 p.m.

http://tos.mx/!cypFFgGo
VWAP is the gold triangles

So do u have to change the date of the anchoredVWAP everyday if day trading? I see theres an option for date and i wasnt sure..

 

[captdb]

As Good As It Gets: THE TRADING PATH CHART FOR THINKORSWIM

THIS CHART HAS NO CANDLES – INDICATORS ONLY!​

In order to have an “edge” in trading, we need an indication to where the market is heading and what its next move might be (thus the development of indicators). Some day traders (like me) are looking for moves over a short period of time.
see the next post below for a full explanation of this chart and the overall concepts seen in all As Good As It Gets setups.

There may be other chart setups that don’t use candles, but this is my first using indicators alone. The top labels are fairly straightforward. I have added the DMI MTF (a free indicator from TI for which I added the Cyan Header).

This chart is called THE TRADING PATH CHART using HEAVY RED/GREEN ARROWS comprising “THE PATHWAY”. THE THICK RED/GREEN ARROWS ARE THE TRADING PATH. The thinner line is the EMA (Exponential Moving Average Price Line) and shows its relation to the solid White 20 EMA.

The SOLID Red/Green horizontal thick line shows Reversal Pivot Points on the chart and works with my Short/Long (possible) transition Bubbles.

The Price Pointer (on the chart) shows actual price movement.

The Yellow Dotted Dashed Line on the chart corresponds with the PSAR (Parabolic Stop and Reverse) Label showing number of bars since Last Direction Transition.

Added are the high/low 1 SD horizontal lines (frequent turning points), as well as my HiAlgoPivot (Red Solid Line)and LoAlgoPivot (Green Solid Line) Pivot Points. The PDHi (Previous Days High) and PDLow (Previous Days Low) are shown as White Lines .

Support/Resistance is shown as a Red/Green Cloud area.

Also added are SD (Standard Deviation) Vertical Lines: The RED Vertical Dashed Line shows when the stock or ETF has reached a +2.5 SD Extension (EXT UP +2.5 SD) and may be nearing a transition down; the GREEN Vertical Dashed Line shows a -2.5 SD Extension Down (EXT DOWN -2.5 SD) and may be nearing a transition up. These do not paint unless those levels are reached.

Also shown as Vertical Lines are: MARKET OPEN (Yellow); UK MARKET CLOSING 10 MIN (White); and POWER HOUR HEADS UP (White).

This should cover everything. I have been putting this together for two weeks without any losing days. If you can’t live without candles you can go to Added studies and strategies and delete AsGood_CancelCandles_Lines.

Here is an updated link with VWAP added to the chart. Refer to my tutor on Daytrading the VWAP
http://tos.mx/!cypFFgGo

https://imgur.com/a/hO2eyFK

This is my first post on this forum. I have been watching for a while, some call that trolling, but I have not had anything to really say; up until now. This has to be one of the most imaginative things I have ever heard of. Incredible. This forum is absolutely amazing. There are so many creative individuals on here that show so much patience for everyone, and have a genuine willingness to help others and they just keep doing it! Well done to all the brilliant people on here!

 

[csricksdds]

This is my first post on this forum. I have been watching for a while, some call that trolling, but I have not had anything to really say; up until now. This has to be one of the most imaginative things I have ever heard of. Incredible. This forum is absolutely amazing. There are so many creative individuals on here that show so much patience for everyone, and have a genuine willingness to help others and they just keep doing it! Well done to all the brilliant people on here!

I for one thank you for the nice feedback!

 

[jhorton56]

So do u have to change the date of the anchoredVWAP everyday if day trading? I see theres an option for date and i wasnt sure..

The indictor as copied will not appear on my chart as 20240601. But it did appear when I changed it to 20240705. At least to me, is appears that I would have to manually change it for each trading day.

 

[csricksdds]

The indictor as copied will not appear on my chart as 20240601. But it did appear when I changed it to 20240705. At least to me, is appears that I would have to manually change it for each trading day.

You may be correct...you have helped me today as well...thanks

 

[DrOculus]

@csricksdds Thanks for all of the advice/info in your posts. Very helpful! How do you think this chart would translate for day trading 0DTE SPX options? Would the lack of a volume variable negate its usefulness? I'm currently using a 9 and 20 EMA and the MACD, but I'm trying to improve and strengthen my indicator game. Any advice would be appreciated. Thanks again!

 

[csricksdds]

It should work on SPX as I use it in the SPY and QQQ every day and of all the charts I've put together this charting has worked the best for me...I just find that the SPY & QQQs fit my risk/reward parameters well for me?

 

[csricksdds]

Do u mind explaining a bit more on your new SD deviation?
How is this different compared to your own CSR buy/signal with tenkan/kijun period cross, besides change in ATR value from 2.0 to 2.5?

Do u recommend using both to see if they both line up for better entries?

I tried adding both indicators and they both triggered almost at the same time.

Also, is there a way to show price/value on that vertical line when it plots?

I know u have stated that it doesn't repaint unless that area/point/zone gets breached, so that a good area to place your stop?

I trade on 10/15mins chart, so is it ideal to keep the current setting as default?

I know I have asked too many questions.
Just trying to figure out how really this indicator works. Sorry...

I apologize but the vertical 2.5 lines should be labeled as ATR instead of SD (wording can be changed in the code). The SD horizontal lines are the correct to follow. On my Short/Long I have them set at 2.0...if the short/long and 2.5 ATR show at the same time it just means that it jumped to 2.5 and both have triggered at the same time.

I trade using a 2min/5min for my trades but 5min/10min should work fine. Remember that times are like dropping a rock into the water and watching the rings spread out further bringing into play the larger time frames. If one of the Vertical lines and short/long trigger I trade when the red/green arrow on the trading path show that change as well. I usually exit when the arrow changes direction again. Also look to see if above/below the 20 EMA for continuing direction as well. And lastly, there is no such thing as too many questions as it helps keep my brain in tune as well!

 

[csricksdds]

you might want to add my Dashboard Traffic Light to this chart as well. You can set its time frame to match the one you are using. The Traffic Light looks at direction from multiple perspectives.

The Traffic Light Link: https://usethinkscript.com/threads/agaig-traffic-light-for-thinkorswim.19246/

 

[spat]

@csricksdds
Do you have any video reference for your strategy?
I'm trying my best to master this strategy from 2 months but still I am amateur and making losses.
I would really appreciate your help.