Repaints B4 Balanced BB Breakout For ThinkOrSwim

[optionsRS]

i'm getting pink, lime and pink next to each other. What does it mean?

This scanner is for the vertical lines based on FibonacciSuperTrend
  
    ### Market Forecast

def pIntermediate = MarketForecast().Intermediate;

def MF_SIGNAL = if pIntermediate >= 80 or  pIntermediate > pIntermediate[1] then 1 else
    if pIntermediate <= 20 or pIntermediate < pIntermediate[1] then 0 else -1;

### MACDBB

input MACDBB_FastLength = 12;
input MACDBB_SlowLength = 26;
input MACDBB_Length = 25;
input MACDBB_BandLength = 15;
input MACDBB_NumDev = 1.0;

def MACDBB_Data = MACD(fastLength = MACDBB_FastLength, slowLength = MACDBB_SlowLength, MACDLength = MACDBB_Length);

def MACDBB_Upper = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                             Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).UpperBand;

def MACDBB_Lower = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                             Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).Lowerband;

def MACDBB_Midline = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                               Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).MidLine;
def MACDBB_Line = MACDBB_Data;
def MACDBB_SIGNAL =
    if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line >= MACDBB_Upper or MACDBB_Line < MACDBB_Line[1] and MACDBB_Line >= MACDBB_Upper then 1
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line <= MACDBB_Lower or MACDBB_Line > MACDBB_Line[1] and MACDBB_Line <= MACDBB_Lower then 0
    else -1;

input MACDBB_CrossFromAboveAlert = {default "Zero", "Lower", "Middle", "Upper"};
input MACDBB_CrossFromBelowAlert = {default "Zero", "Lower", "Middle", "Upper"};

def MACDBB_CrossFromAboveVal = if MACDBB_CrossFromAboveAlert == MACDBB_CrossFromAboveAlert.Lower then MACDBB_Lower
                               else if MACDBB_CrossFromAboveAlert == MACDBB_CrossFromAboveAlert.Upper then MACDBB_Upper
                              else 0;
def MACDBB_CrossFromBelowVal = if MACDBB_CrossFromBelowAlert == MACDBB_CrossFromBelowAlert.Lower then MACDBB_Lower
                               else if MACDBB_CrossFromBelowAlert == MACDBB_CrossFromBelowAlert.Upper then MACDBB_Upper
                               else 0;

def MACDBB_Buy = MACDBB_Data > MACDBB_Upper;
def MACDBB_Sell = MACDBB_Data <= MACDBB_Lower;

def MACDBB_OVERALL_SIGNAL = MACDBB_SIGNAL and MACDBB_Buy;

### RSI/STOCASTIC/MACD CONFLUENCE COMBO

def RSM_MACD_Diff = reference MACD("fast length" = 12, "slow length" = 26, "macd length" = 9).Diff;

def RSM_MACD_Diff_SIGNAL = if RSM_MACD_Diff >= 0 then
        if RSM_MACD_Diff > RSM_MACD_Diff[1] then 1 else -1
    else
        if RSM_MACD_Diff < RSM_MACD_Diff[1] then 0 else -1;

def RSM_RSI = reference RSI(length = 7).RSI;

def RSM_Stoch_Val = 100 * (close - lowest(low, 14)) / (highest(high, 14) - lowest(low, 14));
def RSM_StochSlowK = SimpleMovingAvg(SimpleMovingAvg(RSM_Stoch_Val,3),3);

def RSM_rsiGreen = RSM_RSI >= 50;
def RSM_rsiRed = RSM_RSI < 50;
def RSM_stochGreen = RSM_StochSlowK >= 50;
def RSM_stochRed = RSM_StochSlowK < 50;
def RSM_macdGreen = RSM_MACD_Diff >= 0;
def RSM_macdRed = RSM_MACD_Diff < 0;
def RSM_Buy = RSM_rsiGreen and RSM_stochGreen and RSM_macdGreen;
def RSM_Sell = RSM_rsiRed and RSM_stochRed and RSM_macdRed;

### Divergance
input HMA_Length = 55;
input HMA_Lookback = 2;

def HMA = HullMovingAvg(price = HL2, length = HMA_Length);
def HMA_delta = HMA[1] - HMA[HMA_Lookback + 1];
def HMA_delta_per_bar = HMA_delta / HMA_Lookback;
def HMA_next_bar = HMA[1] + HMA_delta_per_bar;
def HMA_concavity = if HMA > HMA_next_bar then 1 else -1;
def HMA_MA_Max = if HMA[-1] < HMA and HMA > HMA[1] then HMA else Double.NaN;
def HMA_MA_Min = if HMA[-1] > HMA and HMA < HMA[1] then HMA else Double.NaN;
def HMA_divergence = HMA - HMA_next_bar;

def HMA_SIGNAL =  if HMA_divergence[1] < HMA_divergence then 0 else if  HMA_divergence[1] < HMA_divergence then 1 else 1;

### Balance of Power

input BOP_EMA_Length = 20;
input BOP_TEMA_Length = 20;

def BOP_THL = If(high != low, high - low, 0.01);
def BOP_BullOpen = (high - open) / BOP_THL;
def BOP_BearOpen = (open - low) / BOP_THL;
def BOP_BullClose = (close - low) / BOP_THL;
def BOP_BearClose = (high - close) / BOP_THL;
def BOP_BullOC = If(close > open, (close - open) / BOP_THL, 0);
def BOP_BearOC = If(open > close, (open - close) / BOP_THL, 0);
def BOP_BullReward = (BOP_BullOpen + BOP_BullClose + BOP_BullOC) / 1;
def BOP_BearReward = (BOP_BearOpen + BOP_BearClose + BOP_BearOC) / 1;

def BOP_BOP = BOP_BullReward - BOP_BearReward;
def BOP_SmoothBOP = ExpAverage(BOP_BOP, BOP_EMA_Length);
def BOP_xPrice = BOP_SmoothBOP;
def BOP_xEMA1 = ExpAverage(BOP_SmoothBOP, BOP_TEMA_Length);
def BOP_xEMA2 = ExpAverage(BOP_xEMA1, BOP_TEMA_Length);
def BOP_xEMA3 = ExpAverage(BOP_xEMA2, BOP_TEMA_Length);
def BOP_nRes = 3 * BOP_xEMA1 - 3 * BOP_xEMA2 + BOP_xEMA3;

def BOP_SmootherBOP = BOP_nRes;
def BOP_s1 = BOP_SmoothBOP;
def BOP_s2 = BOP_SmootherBOP;
def BOP_s3 = BOP_SmootherBOP[2];
def BOP_Direction = if BarNumber() == 1 then 0
                    else if BOP_s2 < BOP_s3 and BOP_s2[1] > BOP_s3[1] then -1
                    else if BOP_s2 > BOP_s3 and BOP_s2[1] < BOP_s3[1] then 1
                    else BOP_Direction[1];

### Fibonacci SuperTrend

input FST_Length = 11;
input FST_Retrace = 23.6;
input FST_UseHighLow = yes;

def FST_h = if FST_UseHighLow then high else close;
def FST_l = if FST_UseHighLow then low else close;
def FST_minL = Lowest(FST_l, FST_Length);
def FST_maxH = Highest(FST_h, FST_Length);

def FST_hh = if FST_h > FST_maxH[1] then FST_h else FST_hh[1];
def FST_ll = if FST_l < FST_minL[1] then FST_l else FST_ll[1];
def FST_trend = if FST_h > FST_maxH[1] then 1 else if FST_l < FST_minL[1] then -1 else FST_trend[1];
def FST_Direction = if BarNumber() == 0 then 0
                    else if FST_trend != 1 then -1
                    else if FST_trend == 1 then 1
                    else FST_Direction[1];


### Strategy


def BullBear_Buy = if FST_Direction ==1 then FST_Direction == 1 else no;
plot signal1 =  BullBear_Buy and !BullBear_Buy[1];

works perfect! Thank you!

 

[nitrous]

One feature, if we can add, is volume.

As we know, without volume, price action doesn't do much.

Can we somehow incorporate buy/sell volume, possibly as a label or if anyone has any other suggestions, that works too.

That may also weed out "possible" false signals, or small moves price wise.

 

[nitrous]

works perfect! Thank you!

What time frame are you scanning against, if you dont mind me asking.

 

[optionsRS]

One feature, if we can add, is volume.

As we know, without volume, price action doesn't do much.

Can we somehow incorporate buy/sell volume, possibly as a label or if anyone has any other suggestions, that works too.

That may also weed out "possible" false signals, or small moves price wise.

i completely agree with you! @Chuck @barbaros please consider this request

 

[Tripod-2020]

I was curious as to what some of you guys set your scan setting to\on.. IE volume, price , price change, unusual volume..etc Not just scan study scripts. ( We all have those already.. Thanks to the hard work these guys have done..)And maybe a short note or statement on what your scan settings are trying to search for. I have been playing around with my settings to see what works best for my trading style. But other ideas might be nice to try out also. Lastly , I wanted to say thanks to you guys for all your hard work and the focus and amazing teamwork you have shown. Its really appreciated. You guys help make this site great..

 

[Trader Raider]

I played all 3 strategies lining up and combining it with a 5 min ORB for a scalp on SPWR to the downside worked out perfectly!!

I've been testing alignment of all 3 strategies too. What I've found is that on lower timeframes, it's more powerful when all 3 strategies print a signal at or very near the same time. When that happens, the signal tends to be more accurate and the move in price bigger than playing off a signal from one or two strategies. I've only tested this "triple strategy" on a handful of instruments (all futures). Not sure how powerful simultaneous firing of triple signals would be for stocks or swing trading.

 

[Chuck]

I was curious as to what some of you guys set your scan setting to\on.. IE volume, price , price change, unusual volume..etc Not just scan study scripts. ( We all have those already.. Thanks to the hard work these guys have done..)And maybe a short note or statement on what your scan settings are trying to search for. I have been playing around with my settings to see what works best for my trading style. But other ideas might be nice to try out also. Lastly , I wanted to say thanks to you guys for all your hard work and the focus and amazing teamwork you have shown. Its really appreciated. You guys help make this site great..

I just set it to scan in weeklys....In order for an instrument to qualify for weekly options, it has to meet and exceed any criteria I am qualified to certify. If it has weekly options I am game on. I like to simplify when I can.

 

[Tripod-2020]

I've been testing alignment of all 3 strategies too. What I've found is that on lower timeframes, it's more powerful when all 3 strategies print a signal at or very near the same time. When that happens, the signal tends to be more accurate and the move in price bigger than playing off a signal from one or two strategies. I've only tested this "triple strategy" on a handful of instruments (all futures). Not sure how powerful simultaneous firing of triple signals would be for stocks or swing trading.

Thanks for the info.. and what about your scan setup itself? volume min max etc?

 

[optionsRS]

I've been testing alignment of all 3 strategies too. What I've found is that on lower timeframes, it's more powerful when all 3 strategies print a signal at or very near the same time. When that happens, the signal tends to be more accurate and the move in price bigger than playing off a signal from one or two strategies. I've only tested this "triple strategy" on a handful of instruments (all futures). Not sure how powerful simultaneous firing of triple signals would be for stocks or swing trading.

I agree with you. It would be great if we can update the code and give up arrow based on three strategies/

 

[Tripod-2020]

I just set it to scan in weeklys....In order for an instrument to qualify for weekly options, it has to meet and exceed any criteria I am qualified to certify. If it has weekly options I am game on. I like to simplify when I can.

BTW Chuck, Thanks for getting this started.. and also congrats to you and your partners that made this indicator happen..

 

[Trader Raider]

Thanks for the info.. and what about your scan setup itself? volume min max etc?

I trade a handful of instruments so I don't need to scan. I decided last night what to trade this morning if the opportunity presented.

If that trade hadn't set up, I could have run a scan on the MACD_BB crossing above the upper line for longs or below the lower line for shorts, as described here.

To make sure I'm trading with the long term trend, I plot a 50 and 200 EMA. I also plot RSM labels for timeframes from 2 min all the way up to monthly. If they're lining up the same color in the direction I want to trade, that's my MTF confirmation to trust triple Balanced BB Breakout signals on a short timeframe.

Probably not the answer you wanted, but that's how I do it.

 

[optionsRS]

What time frame are you scanning against, if you dont mind me asking.

Daily. I got results for 10 mins also.

 

[Chuck]

Final Scan which includes everything :)

# Balanced BB Breakout Indicator
# Free for use. Header credits must be included when any form of the code included in this package is used.
# User assumes all risk. Author not responsible for errors or use of tool.
# v1.2 - Assembled by Chuck Edwards
# v2.0 - Barbaros - cleanup
# v2.1 - Barbaros - added RSI IFT, NumberOfShares, BB crossing options
# v2.2 - Barbaros - fixed PnL issues and removed intraDay filter
# v2.3 - Barbaros - changed input and variable names, RSM is re-done
# v2.4 - Barbaros - removed PnL, added strategy signal arrows and alerts,
#                   added Fibonacci SuperTrend, added unified bar color selection
# beta - Chuck    - added divergence and squeeze label, added squeeze alert
#        Barbaros - cleanup, changed divergance to text, show stoch labels all the time
#        Barbaros - added trend squeeze label for BB, added alerts for Stoch Scalper
#        Barbaros - added options to hide clouds and labels
#        Barbaros - changed trend and divergence colors and text to match
#        Barbaros - removed volume and keltner channel studies, unified squeeze
# v1.2 AspaTrader - Adapted new Indicator and added Fib series. TODO: MarketForecast
# v1.3 AspaTrader - Fixed issue with script complex or timeout
# V2.0 AspaTrade - Added signals for vertical Lines + Market Forecast + MACDBB + RSM Buy Signal + HMA Signal (55 MA) + BOP_Direction + Fibonacci Super Trend
### Market Forecast

def pIntermediate = MarketForecast().Intermediate;

def MF_SIGNAL = if pIntermediate >= 80 or  pIntermediate > pIntermediate[1] then 1 else
    if pIntermediate <= 20 or pIntermediate < pIntermediate[1] then 0 else -1;

### MACDBB

input MACDBB_FastLength = 12;
input MACDBB_SlowLength = 26;
input MACDBB_Length = 25;
input MACDBB_BandLength = 15;
input MACDBB_NumDev = 1.0;

def MACDBB_Data = MACD(fastLength = MACDBB_FastLength, slowLength = MACDBB_SlowLength, MACDLength = MACDBB_Length);

def MACDBB_Upper = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                             Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).UpperBand;

def MACDBB_Lower = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                             Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).Lowerband;

def MACDBB_Midline = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                               Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).MidLine;
def MACDBB_Line = MACDBB_Data;
def MACDBB_SIGNAL =
    if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line >= MACDBB_Upper or MACDBB_Line < MACDBB_Line[1] and MACDBB_Line >= MACDBB_Upper then 1
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line <= MACDBB_Lower or MACDBB_Line > MACDBB_Line[1] and MACDBB_Line <= MACDBB_Lower then 0
    else -1;

input MACDBB_CrossFromAboveAlert = {default "Zero", "Lower", "Middle", "Upper"};
input MACDBB_CrossFromBelowAlert = {default "Zero", "Lower", "Middle", "Upper"};

def MACDBB_CrossFromAboveVal = if MACDBB_CrossFromAboveAlert == MACDBB_CrossFromAboveAlert.Lower then MACDBB_Lower
                               else if MACDBB_CrossFromAboveAlert == MACDBB_CrossFromAboveAlert.Upper then MACDBB_Upper
                              else 0;
def MACDBB_CrossFromBelowVal = if MACDBB_CrossFromBelowAlert == MACDBB_CrossFromBelowAlert.Lower then MACDBB_Lower
                               else if MACDBB_CrossFromBelowAlert == MACDBB_CrossFromBelowAlert.Upper then MACDBB_Upper
                               else 0;

def MACDBB_Buy = MACDBB_Data > MACDBB_Upper;
def MACDBB_Sell = MACDBB_Data <= MACDBB_Lower;

def MACDBB_OVERALL_SIGNAL = MACDBB_SIGNAL and MACDBB_Buy;

### RSI/STOCASTIC/MACD CONFLUENCE COMBO

def RSM_MACD_Diff = reference MACD("fast length" = 12, "slow length" = 26, "macd length" = 9).Diff;

def RSM_MACD_Diff_SIGNAL = if RSM_MACD_Diff >= 0 then
        if RSM_MACD_Diff > RSM_MACD_Diff[1] then 1 else -1
    else
        if RSM_MACD_Diff < RSM_MACD_Diff[1] then 0 else -1;

def RSM_RSI = reference RSI(length = 7).RSI;

def RSM_Stoch_Val = 100 * (close - lowest(low, 14)) / (highest(high, 14) - lowest(low, 14));
def RSM_StochSlowK = SimpleMovingAvg(SimpleMovingAvg(RSM_Stoch_Val,3),3);

def RSM_rsiGreen = RSM_RSI >= 50;
def RSM_rsiRed = RSM_RSI < 50;
def RSM_stochGreen = RSM_StochSlowK >= 50;
def RSM_stochRed = RSM_StochSlowK < 50;
def RSM_macdGreen = RSM_MACD_Diff >= 0;
def RSM_macdRed = RSM_MACD_Diff < 0;
def RSM_Buy = RSM_rsiGreen and RSM_stochGreen and RSM_macdGreen;
def RSM_Sell = RSM_rsiRed and RSM_stochRed and RSM_macdRed;

### Divergance
input HMA_Length = 55;
input HMA_Lookback = 2;

def HMA = HullMovingAvg(price = HL2, length = HMA_Length);
def HMA_delta = HMA[1] - HMA[HMA_Lookback + 1];
def HMA_delta_per_bar = HMA_delta / HMA_Lookback;
def HMA_next_bar = HMA[1] + HMA_delta_per_bar;
def HMA_concavity = if HMA > HMA_next_bar then 1 else -1;
def HMA_MA_Max = if HMA[-1] < HMA and HMA > HMA[1] then HMA else Double.NaN;
def HMA_MA_Min = if HMA[-1] > HMA and HMA < HMA[1] then HMA else Double.NaN;
def HMA_divergence = HMA - HMA_next_bar;

def HMA_SIGNAL =  if HMA_divergence[1] < HMA_divergence then 0 else if  HMA_divergence[1] < HMA_divergence then 1 else 1;

### Balance of Power

input BOP_EMA_Length = 20;
input BOP_TEMA_Length = 20;

def BOP_THL = If(high != low, high - low, 0.01);
def BOP_BullOpen = (high - open) / BOP_THL;
def BOP_BearOpen = (open - low) / BOP_THL;
def BOP_BullClose = (close - low) / BOP_THL;
def BOP_BearClose = (high - close) / BOP_THL;
def BOP_BullOC = If(close > open, (close - open) / BOP_THL, 0);
def BOP_BearOC = If(open > close, (open - close) / BOP_THL, 0);
def BOP_BullReward = (BOP_BullOpen + BOP_BullClose + BOP_BullOC) / 1;
def BOP_BearReward = (BOP_BearOpen + BOP_BearClose + BOP_BearOC) / 1;

def BOP_BOP = BOP_BullReward - BOP_BearReward;
def BOP_SmoothBOP = ExpAverage(BOP_BOP, BOP_EMA_Length);
def BOP_xPrice = BOP_SmoothBOP;
def BOP_xEMA1 = ExpAverage(BOP_SmoothBOP, BOP_TEMA_Length);
def BOP_xEMA2 = ExpAverage(BOP_xEMA1, BOP_TEMA_Length);
def BOP_xEMA3 = ExpAverage(BOP_xEMA2, BOP_TEMA_Length);
def BOP_nRes = 3 * BOP_xEMA1 - 3 * BOP_xEMA2 + BOP_xEMA3;

def BOP_SmootherBOP = BOP_nRes;
def BOP_s1 = BOP_SmoothBOP;
def BOP_s2 = BOP_SmootherBOP;
def BOP_s3 = BOP_SmootherBOP[2];
def BOP_Direction = if BarNumber() == 1 then 0
                    else if BOP_s2 < BOP_s3 and BOP_s2[1] > BOP_s3[1] then -1
                    else if BOP_s2 > BOP_s3 and BOP_s2[1] < BOP_s3[1] then 1
                    else BOP_Direction[1];

### Fibonacci SuperTrend

input FST_Length = 11;
input FST_Retrace = 23.6;
input FST_UseHighLow = yes;

def FST_h = if FST_UseHighLow then high else close;
def FST_l = if FST_UseHighLow then low else close;
def FST_minL = Lowest(FST_l, FST_Length);
def FST_maxH = Highest(FST_h, FST_Length);

def FST_hh = if FST_h > FST_maxH[1] then FST_h else FST_hh[1];
def FST_ll = if FST_l < FST_minL[1] then FST_l else FST_ll[1];
def FST_trend = if FST_h > FST_maxH[1] then 1 else if FST_l < FST_minL[1] then -1 else FST_trend[1];
def FST_Direction = if BarNumber() == 0 then 0
                    else if FST_trend != 1 then -1
                    else if FST_trend == 1 then 1
                    else FST_Direction[1];


### Strategy


def BullBear_Buy = if FST_Direction ==1 then FST_Direction == 1 else no;
plot signal1 = MF_SIGNAL and MACDBB_OVERALL_SIGNAL and RSM_Buy and HMA_SIGNAL and BOP_Direction and BullBear_Buy and !BullBear_Buy[1];

When you say for all vertical lines, are you referring to all vertical lines in the fib strat or all vertical lines with all strats firing in unison?

 

[barbaros]

i completely agree with you! @Chuck @barbaros please consider this request

This forum is pretty lively. I like it.

I completely agree with you. We had volume based indicators added but then removed since they don't work with indices and when you add a volume reference in an indicator for an instrument without volume, it makes the whole indicator stop working.

I think for the future, we'll have a volume add-on options that you can add to the end of the study. @Chuck has been doing some of that already with some of the add-ons. ADX is one of them.

 

[VictusJogi]

One feature, if we can add, is volume.

As we know, without volume, price action doesn't do much.

Can we somehow incorporate buy/sell volume, possibly as a label or if anyone has any other suggestions, that works too.

That may also weed out "possible" false signals, or small moves price wise.

@Chuck and @barbaros...For Volume we can use Waddah Explosion Indicator.. It actually supports your indicator...

 

[barbaros]

@AspaTrader do you mind if I make revisions to the scanner?

 

[nitrous]

I just set it to scan in weeklys....In order for an instrument to qualify for weekly options, it has to meet and exceed any criteria I am qualified to certify. If it has weekly options I am game on. I like to simplify when I can.

Mind sharing your parameters for your scan?

Thanks

 

[Chuck]

This forum is pretty lively. I like it.

I completely agree with you. We had volume based indicators added but then removed since they don't work with indices and when you add a volume reference in an indicator for an instrument without volume, it makes the whole indicator stop working.

I think for the future, we'll have a volume add-on options that you can add to the end of the study. @Chuck has been doing some of that already with some of the add-ons. ADX is one of them.

I am presently looking for alternatives .... If I cant find a suitable alternative I will pull together an add-on like Barbaros mentioned so it can be optional.

Mind sharing your parameters for your scan?

Thanks

We got some updates in progress. As soon as thats done I will post a scan link, with my settings

 

[nitrous]

I trade a handful of instruments so I don't need to scan. I decided last night what to trade this morning if the opportunity presented.

If that trade hadn't set up, I could have run a scan on the MACD_BB crossing above the upper line for longs or below the lower line for shorts, as described here.

To make sure I'm trading with the long term trend, I plot a 50 and 200 EMA. I also plot RSM labels for timeframes from 2 min all the way up to monthly. If they're lining up the same color in the direction I want to trade, that's my MTF confirmation to trust triple Balanced BB Breakout signals on a short timeframe.

Probably not the answer you wanted, but that's how I do it.

Mind sharing a screenshot of your chart labels? Thanks

 

[Tradervic]

Fixed the Scan guys The above one is for the arrow

@AspaTrader, I am a bit confused. In Post 444, you said you fixed the scan and that it is for the arrow. Then in Post 449, you said this is the scan for the vertical lines for the Fibonacci Supertrend. And then in Post 451, you say its the final scan. Can you please clarify what is the difference in all these scans? I assume when the word 'scan' is used, that its being applied to a list of stocks meeting a certain criteria.

Also is it possible to scan for the first red dot or green dot? That seems to be the main success of this method...when the dots appear, thats when the stock moves. The 3 strategies mentioned (i.e. Balance of Power, RSI_IFT and FibonacciSupertrend) seem to me to be more confirming the dots.

Can you or @Chuck let me know if I am misunderstanding this whole concept? Many thanks in advance.