Repaints B4 Balanced BB Breakout For ThinkOrSwim

[Chuck]

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

Yes, I forgot about that....That was the main reason......Thanks for reminding me.

 

[nitrous]

Whats the difference between RSI_IFT, Balance of Power and Fib in reference to the bull bear drop down @Chuck

 

[Chuck]

Just updated the main page to reflect on some of the questions that are arising in this trend. Please read over it prior to posting questions, as most of what is commonly asked is laid out in the main post. I will keep updating it as things progress.
Happy Trading,
Chuck

 

[Chuck]

Whats the difference between RSI_IFT, Balance of Power and Fib in reference to the bull bear drop down @Chuck

They are different strategies, each uses different perimeters to determine entry and exit points.

 

[Chuck]

Loving this indicator!!! I know I am a bit biased to it, but still so pleased with the way it performs.

We are constantly making improvements and more features of being added.

Special thanks to Barbaros for his commitment and dedication to this project.

Things are really shaping up around here and I can’t wait to the next release.

 

[Tradervic]

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

https://imgur.com/a/MuRbZ6u

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.

Ah I see......thank you @Chuck.....this is a unique and very good methodology imo. Thank you for sharing and thanks to the many here who have contributed like @barbaros, @mashume, @rad14733,@The Bataylor....I know I there are more.....and of course to @BenTen without with, this would all not be possible. I guess I need to read up on how to use Balance of Power, FiboSuperTrend and RSI_IFT........!

 

[Chuck]

Just added an ADX Line add on to the bottom of the first page. ADX stands for Average Directional Movement Index and can be used to help measure the overall strength of a trend. The ADX indicator is an average of expanding price range values. The ADX is a component of the Directional Movement System developed by Welles Wilder. Just copy the code and paste it at the bottom of your script if you would like to use it. It has user inputs to turn on and off line and alarm. The default is set to 35, most use 25, but I find 35 helps keep down false signals. Please check for errors and any help with it would be greatly appreciated. I am not a good coder and this is one of my projects to help me learn.

 

[BBDPDC]

@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.

Here you go buddy

https://tos.mx/mWLwZn1 - I have this set to 21 on 1m charts as i find that to be the most reliable but I've seen various values used to confirm entries/exits on other timeframes

RSI_IFT is the vertical dashed lines (greens and reds) in the Balanced BB study

 

[The Bataylor]

@Chuck Just my personal take, but when I have utilized ADX in the past, I found it to be a bit slow for my liking. I've been experimenting with volume to filter out some of the false signals. Haven't found anything worth praising yet, but will continue to look. Side note: I've been using the RSM_Buy/Sell signals as my orders and they seem to work better than other buy/sell triggers that can be taken away from this indicator. Also, mashume's hull moving average I've found is not entirely practical in real-time as it repaints, but I'm sure by using other indicators, the turning points can be more easily identified. There is currently a discussion going on that thread about potentially reversing it to get an "estimation" of what it may do in the future making it potentially more viable in real-time. It really is an incredible indicator!

 

[optionsRS]

anyone got the scanner to work?

 

[HuskeyTN]

Picked the right one to follow this morning. The Indicator worked perfectly and the addition of the ADX line helped with my exit. Thanks for the hard work gang!

https://imgur.com/3l6dhNS

 

[Trader Raider]

anyone got the scanner to work?

Works fine for me.

I'm a big fan of the MACD_BB and I really appreciate the inclusion of this scanner! It's better than the way I was filtering stocks. Thank you

 

[nitrous]

Picked the right one to follow this morning. The Indicator worked perfectly and the addition of the ADX line helped with my exit. Thanks for the hard work gang!

https://imgur.com/3l6dhNS

Whats the purpose of the ADX line

 

[Chuck]

I am out of pocket right now running some errands taken care of personal business when I get back this afternoon I’ll answer all questions.

 

[optionsRS]

Picked the right one to follow this morning. The Indicator worked perfectly and the addition of the ADX line helped with my exit. Thanks for the hard work gang!

https://imgur.com/3l6dhNS

Red line? ADX? i'm not getting the line. do i need to enable the line?

 

[Chuck]

I briefly read some of the comments and questions and I’ll touch more in depth on them later. But for now I added the ADX line to help make decisions to exit a trade if the RSI_IFT isn’t getting you out fast enougth.
I have some ideas on how to modify that strategy and we might be doing that soon, I have to check with Barbaros. If anybody has any suggestions on how to improve that exit with that indicator please let us know.

The ADX is a way to determine trend strength and so if you’ve had a long run and you have an ADX Lord me apeasrs and price action is falling it can be a consideration.

It may act a little slow and it may not be suitable for everyone Especially scalpers. And that is one of the reasons why we didn’t include it with the indicator but just provided it as an add on.

I have an unreleased version that utilizes volume. It has a label it tells you when you have volume spikes.
Barbaros is tweaking as testing it now. If anyone has any volume studies that they find superior please let us know and we will get gladly take a look at it to add it as a label.

As far as the hull moving average connectivity with turning points, I only use the divergence portion of that study as I fined it gives very good output.
If anyone has a better divergence study that may be more accurate or more responsive please let me know I will gladly see what we can do to add it to the indicator.

Barbaros is Patiently and skillfully sorting through all the ideas and mash ups that I’m sending to his desk.

And trust me it is a lot. we are trying to improve this and also keep it simple.

I am finding that I am removing more and more indicators off of my screen and only relying on this And price action to make my decisions.

If anyone has any suggestions or other comments please don’t hesitate thank you for your input.

 

[optionsRS]

Works fine for me.

I'm a big fan of the MACD_BB and I really appreciate the inclusion of this scanner! It's better than the way I was filtering stocks. Thank you

It's working now. @Chuck is it possible to get the scanner results updated after 2 candles from the arrow?

 

[VictusJogi]

I briefly read some of the comments and questions and I’ll touch more in depth on them later. But for now I added the ADX line to help make decisions to exit a trade if the RSI_IFT isn’t getting you out fast enougth.
I have some ideas on how to modify that strategy and we might be doing that soon, I have to check with Barbaros. If anybody has any suggestions on how to improve that exit with that indicator please let us know.

The ADX is a way to determine trend strength and so if you’ve had a long run and you have an ADX Lord me apeasrs and price action is falling it can be a consideration.

It may act a little slow and it may not be suitable for everyone Especially scalpers. And that is one of the reasons why we didn’t include it with the indicator but just provided it as an add on.

I have an unreleased version that utilizes volume. It has a label it tells you when you have volume spikes.
Barbaros is tweaking as testing it now. If anyone has any volume studies that they find superior please let us know and we will get gladly take a look at it to add it as a label.

As far as the hull moving average connectivity with turning points, I only use the divergence portion of that study as I fined it gives very good output.
If anyone has a better divergence study that may be more accurate or more responsive please let me know I will gladly see what we can do to add it to the indicator.

Barbaros is Patiently and skillfully sorting through all the ideas and mash ups that I’m sending to his desk.

And trust me it is a lot. we are trying to improve this and also keep it simple.

I am finding that I am removing more and more indicators off of my screen and only relying on this And price action to make my decisions.

If anyone has any suggestions or other comments please don’t hesitate thank you for your input.

How about adding TMO by mobius?

 

[Splinter]

I briefly read some of the comments and questions and I’ll touch more in depth on them later. But for now I added the ADX line to help make decisions to exit a trade if the RSI_IFT isn’t getting you out fast enougth.
I have some ideas on how to modify that strategy and we might be doing that soon, I have to check with Barbaros. If anybody has any suggestions on how to improve that exit with that indicator please let us know.

The ADX is a way to determine trend strength and so if you’ve had a long run and you have an ADX Lord me apeasrs and price action is falling it can be a consideration.

It may act a little slow and it may not be suitable for everyone Especially scalpers. And that is one of the reasons why we didn’t include it with the indicator but just provided it as an add on.

I have an unreleased version that utilizes volume. It has a label it tells you when you have volume spikes.
Barbaros is tweaking as testing it now. If anyone has any volume studies that they find superior please let us know and we will get gladly take a look at it to add it as a label.

As far as the hull moving average connectivity with turning points, I only use the divergence portion of that study as I fined it gives very good output.
If anyone has a better divergence study that may be more accurate or more responsive please let me know I will gladly see what we can do to add it to the indicator.

Barbaros is Patiently and skillfully sorting through all the ideas and mash ups that I’m sending to his desk.

And trust me it is a lot. we are trying to improve this and also keep it simple.

I am finding that I am removing more and more indicators off of my screen and only relying on this And price action to make my decisions.

If anyone has any suggestions or other comments please don’t hesitate thank you for your input.

First off thanks so much for the hard work! You and Barbaros have really put together something very cool. I've been testing this on 3 different tick charts for the /NQ and its been fun tuning this in. I pretty much rely on this and the Insync. For some reason I am having better results with Ver2 than the updated one. I'm going to continue paper trading and see how things shake out. I do miss the P/L. It kind of told me how the indicator behaves on certain tick charts which helped me gauge performance. (If you feel that it's not a real accurate representation please let me know) Thanks again!

 

[Chuck]

Picked the right one to follow this morning. The Indicator worked perfectly and the addition of the ADX line helped with my exit. Thanks for the hard work gang!

https://imgur.com/3l6dhNS

@HuskeyTN , Can you mark up your chart to show entry and exit and note how you used the ADX to confirm your exit. It might be beneficial to some of the newer traders here?