B3 Consolidation Box: Breakout / Breakdown Indicator for ThinkorSwim

[ProcrastinatingPerfection]

Hello BenTen,

Trying to find the B3 Consolidation Box code that could be used as a scan. Can't seem to find it, was wondering if you could help me with that please? I am new and still trying to find my way here. Thank you.

 

[tomsk]

I took a look at B3 Consolidation Box code. Unfortunately the way it is written when loaded into the scanner ran into complexity issues. The study works just fine on a chart with no issues

 

[roger80k]

Can anyone help me find a script that will automatically draw box zones in the TOS. It will be used as the trading zone. Where I can input my risk level. Thanks

 

[tomsk]

Once of the studies I modified for @Playstation had a similar look/feel as described above, this may bring you closer to the study you need. You can read about it at this link

https://usethinkscript.com/threads/...dicator-for-thinkorswim.103/page-2#post-10280

 

[Playstation]

I only use @tomsk adjusted code exclusively for identifying consolidation.
I would suggest the Opening range breakout indicator for further profit taking, works on ticks and time charts.

 

[soary]

What is TMO? I only know T-Mobile as TMO but if referring to something else can someone enlghten me. Thanks

 

[BenTen]

@soary TMO = True Momentum Oscillator

You can find it here.

 

[soary]

thanks Ben, did anyone ever fgured out how to scan for consolidation on lower than daily time frame?

 

[SimpleScript]

could the box drawing code be used with time to draw boxes around the candles to the extent of the Hi and Lo for specific time frames?
Im interesteding drawing boxes around the candles for the Globex session, to the Hi and Lo for each overnight session on intraday charts.

I think, if I have this correctly, that for a given set of globex start time & stop time inputs, plot a box around the hi and lo and those time inputs.

 

[Money_Maker]

Question, what typically happens when you have OUTSIDE BAR?

 

[Money_Maker]

Forgot to mention it is appearing on the Daily timeframe.

 

[axlerod]

HELP!! this doesnt work on my iphone how do i get it to work on my iphone?

 

[marine]

HELP!! this doesnt work on my iphone how do i get it to work on my iphone?

custom indicator will not work on mobile

 

[JoshF]

That's not true, I have TMO, SuperTrend etc working on Mobile. Some work and some dont. Specifically clouds and lines to not translate well to mobile, neither do MTF indicators are what I've found.

 

[marine]

That's not true, I have TMO, SuperTrend etc working on Mobile. Some work and some dont. Specifically clouds and lines to not translate well to mobile, neither do MTF indicators are what I've found.

well most of them will not work on mobile

 

[J-Fearless]

Excellent study @BenTen - probably one I have been using more than anything else recently. Really very nice. Thanks much. Defined risk and target levels really make this an excellent strategy more so than an indicator. With the stop loss line, which I assume is the mid of the range, winners are almost always bigger than losers. I'm seeing most success on a 5m. Anyone found a better time frame or has used this in interesting ways? I plan to test it on ticks as they can provide some very interesting consolidation periods irrespective of time. Long story short I'm finding very few tickers this doesn't show wonderful results on. A bonus is a pretty clear when to step aside and not trade.

 

[ItsMeBobby9]

Hi, Is the timeframe Daily 5/10/15 mins or 5Days 5/10/15 mins ?

Thank you.

 

[3AMBH]

Hi Ben, I found your b3 indicator after having watched this video:
At the very least the video shines a light on how to trade contractions or consolidation boxes. The presenter shows in detail the 3 phases of the market and how to profit. He is a Forex trader but his concepts are good for all markets.

Please give it a try:

 

[JMath3]

Hello,

Is it possible to create a script to identify consolidation intraday and alerting when the breakout happens? Would like to see a box created where consolidation is happening, so I don't touch it. Once a breakout/volume pop is confirmed, send an alert and signal on the chart. Would love to hear from you all...

Thanks

 

[Chadnash]

Hello,

Is it possible to create a script to identify consolidation intraday and alerting when the breakout happens? Would like to see a box created where consolidation is happening, so I don't touch it. Once a breakout/volume pop is confirmed, send an alert and signal on the chart. Would love to hear from you all...

Thanks

I am working on an indicator / scanner tonight for this so I will let you know in a few days if I get some accurate results. Primary results I am testing and looking for are scanning multiple timeframes in a single scanner, or multiple watchlist indicators that all display it coming out of consolidation / sideways movement.

-Chad
nashtech.xyz