Repaints B4 Balanced BB Breakout For ThinkOrSwim

[Chuck]

It works on all timeframes.

I was hoping @barabos would answer that... That is my understanding as well.

 

[svencool]

I was hoping @barabos would answer that... That is my understanding as well.

Well It appears to work just fine just wanted to make sure as I'm still pretty green lol. But am learning pretty fast!!!!! I appreciate you guys taking the time to take trading ideas and make them better and share then with the rest of us that just are not at the level you guys are with writing scripts! I've started playing around as the first chapter was "Defining Variables" Thanks again for responding to a noob question...

Mike

 

[Chuck]

Well It appears to work just fine just wanted to make sure as I'm still pretty green lol. But am learning pretty fast!!!!! I appreciate you guys taking the time to take trading ideas and make them better and share then with the rest of us that just are not at the level you guys are with writing scripts! I've started playing around as the first chapter was "Defining Variables" Thanks again for responding to a noob question...

Mike

Just start by changing colors and changing label text, then progress to adding alerts, arrows and lines. Make a few combos by splicing code together and read the errors in the bottom of the code interface in TOS. I am starting to learn at a bit more of an accelerated rate now. its almost enjoyable at this point. Only been tinkering a few months and love it. Then when you get stuck , do like I do....Post that embarising blob of mess on this forum and the kind generous people here will pitch in and help. But always make the first efforts !

 

[svencool]

Then when you get stuck , do like I do....Post that embarising blob of mess on this forum and the kind generous people here will pitch in and help. But always make the first efforts !

No I got that message a few weeks back lol..... But until we get to a point where we can post that embarrassing blob of a mess lol. We all still want to trade and move fwd while we learn. I was gonna ask @AspaTrader if your guys new script would have to update the scanner script they shared?
Thx Again!!! SOOOO MUCH TO LEARN it's ALMOST OVERWHELMING Sometimes Lol....
Mike

 

[optionsRS]

okay! did you just use only the label correct? i don't see any lines in your code vs the original one. thank you

@Chuck @barbaros do you mind to reply to this question?

 

[optionsRS]

Just start by changing colors and changing label text, then progress to adding alerts, arrows and lines. Make a few combos by splicing code together and read the errors in the bottom of the code interface in TOS. I am starting to learn at a bit more of an accelerated rate now. its almost enjoyable at this point. Only been tinkering a few months and love it. Then when you get stuck , do like I do....Post that embarising blob of mess on this forum and the kind generous people here will pitch in and help. But always make the first efforts !

looking forward for the updated version. thank you for all your work and helping the community during these difficult times,

 

[Chuck]

@Chuck @barbaros do you mind to reply to this question?

Checked and the post is updated. I changed the link Just to make sure and checked the code. It is barbaros latest version, with the Fibonacci SuperTrend. Thats the latest one besides the beta I am working on that is not close to be ready for release.

 

[optionsRS]

Checked and the post is updated. I changed the link Just to make sure and checked the code. It is barbaros latest version, with the Fibonacci SuperTrend. Thats the latest one besides the beta I am working on that is not close to be ready for release.

Sorry, I didn't understand. You meant @barbaros just used the market forecast label and not the lines?

 

[Chuck]

Sorry, I didn't understand. You meant @barbaros just used the market forecast label and not the lines?

The Market Forecast used here does not use any lines. The more lines added to the indicator the less chance that it shows up properly. One of my beta versions I am working on shows FE, k, d... but the more lines added the less clarity there is in the BB.

 

[optionsRS]

The Market Forecast used here does not use any lines. The more lines added to the indicator the less chance that it shows up properly. One of my beta versions I am working on shows FE, k, d... but the more lines added the less clarity there is in the BB.

makes sense. Thank you! With @barbaros version, all we need to look for is the label correct?
FE, K, d - do you mean momentum, near and intermediate term?

 

[Chuck]

makes sense. Thank you! With @barbaros version, all we need to look for is the label correct?
FE, K, d - do you mean momentum, near and intermediate term?

Just the label

 

[optionsRS]

Just the label

Thank you! my full forms are correct? FE, K , d - momentum, near and intermediate?

 

[HuskeyTN]

Thank you! my full forms are correct? FE, K , d - momentum, near and intermediate?

May I ask what you mean by FE, k, D - momentum? Just to help my head wrap around...

 

[HuskeyTN]

Thank you! my full forms are correct? FE, K , d - momentum, near and intermediate?

Lazy question, sorry... For those like me who are short on the learning curve, this link was very helpful in describing the trees in the forest... How is force related to momentum?

 

[Tradervic]

I've used this on 1m charts for scalping and the breakout signals are pretty damn accurate! RSI_IFT fires a little before hand, then MACD turns green and breakout fires if its going to squeeze.

@Chuck @barbaros thanks for the hard work putting this together. Do you have any advice on tuning the sell signals please? I exclusively trade on 1m charts and find the sell signals a little late (or at least how I'm interpreting them which is likely the problem due to my inexperience).

There doesn't seem to be one rule I can apply for a solid exit. RSI_IFT sell line is very late, MACD turning grey to red again seems a little too late. MACD closes dark green seems too early, as does grey since the momentum can go positive and mean I exit too early. Is the intention to exit once MACD crosses the mid line? This seems the most accurate although not always perfect at securing the maximum portion of the move.

I may need to adjust my settings to apply to the particular type of trading and I know I'm likely to see some commentary from an experienced member of the forum reminding me there is no such thing as the holy grail.......so yes I'm being a bit greedy and asking too much but querying because the entries are flagged so accurately especially when combined with @mashume Hull Concavity indicator!

Example of a sweet setup today to illustrate the waffle above

13:44 Buy signal on Hull Concavity,
13:54 RSI_IFT Buy signal fires, MACD is already green,
13:56 Breakout signal followed by a move from $10.24 to $11.
14:30 was a solid exit on a MACD crossing the midline and Hull Concavity Sell signal but as I said this is a really nice example (I still missed out on $0.17 of a $0.76 move) but at times the drop off is not so graceful and quite a lot of profit can be lost.

@BBDPDC, I don't see this Hull Concavity or RSI_IFT in the chart using the code provided by @Chuck and @AspaTrader. You referenced them in the chart you provided. Are these two indicators obtained elsewhere on Ben's website? Thanks in advance.

 

[Tradervic]

@Chuck I have been experimenting with https://usethinkscript.com/threads/insync-index-indicator-for-thinkorswim.5992/ to see if can complement or it is repetitive. So far, there is an interesting relation to the trend. Let me know what you think about including this to the mix with BOP and RSI_IFT.

Here is ES, and experimental integration of the indicator with InSync.

@barbaros : I have been hearing about this Balance of power.....where is it displayed on the chart? Also I don't see InSync that you just talked about......I must be missing something....any light you can shed for me is appreciated.

 

[Chuck]

@barbaros : I have been hearing about this Balance of power.....where is it displayed on the chart? Also I don't see InSync that you just talked about......I must be missing something....any light you can shed for me is appreciated.

Balance of Power is one of the trade strategies offered in the package.

https://imgur.com/a/MuRbZ6u

@barbaros : I have been hearing about this Balance of power.....where is it displayed on the chart? Also I don't see InSync that you just talked about......I must be missing something....any light you can shed for me is appreciated.

Balance of Power is one of the trade strategies offered in the package.

https://imgur.com/a/MuRbZ6u

Just navigate to your study and select the cog wheel, then go to the “bull bear” pulldown and select the strategy you wish to execute.

Options included in latest version:

BalanceOfPower
FibonocciSupperTrend
RSI_IFT


Our indicator is a bottom study, you can add any study you wish to your charts.

I am experimenting with using portions of the Hull Moving Average Turning Points and Concavity (2nd Derivatives). It may or mayn’t be a part of a future release. I particularly like to capitalize on divergences to initiate scalping trades so we will see.
For the “Hull Concavity” , check out this link, Mashume did a great job on this:

Hull Moving Average Turning Points and Concavity (2nd Derivatives)https://usethinkscript.com/threads/...ng-points-and-concavity-2nd-derivatives.1803/

At one time we did include the Insync Index Indicator as a strategy but after running back to back studies decided to discontinue it.

Thanks for your feedback, it helps us make this indicator better as it progresses.

 

[optionsRS]

@Chuck which one do you use for intra day trading? IFT, fibonacci or balance of power

 

[Chuck]

@Chuck which one do you use for intra day trading? IFT, fibonacci or balance of power

It all depends on your trading style and tolerances. You will have to do some simulations and see what works for you.

 

[barbaros]

@barbaros : I have been hearing about this Balance of power.....where is it displayed on the chart? Also I don't see InSync that you just talked about......I must be missing something....any light you can shed for me is appreciated.

Adding to chuck’s response. We had to take InSync out of it since it didn’t work with indices.