Best Day Trading Strategy / Indicators For ThinkorSwim

[Zedd]

Can someone share me with a day trading strategy that has worked for them. I have tried many strategies and used many indicators but ended up losing trades or the strategy didn't work good enough backtesting.

 

[Ramisegal]

Try this link
Thread 'ATR-QQE and/or A SuperTrend ver2 Chart Setup For ThinkOrSwim' https://usethinkscript.com/threads/...trend-ver2-chart-setup-for-thinkorswim.14658/

 

[csricksdds]

Can someone share me with a day trading strategy that has worked for them. I have tried many strategies and used many indicators but ended up losing trades or the strategy didn't work good enough backtesting.

My AsGood Indicators work well for me

 

[Marek]

Thank you, I would like to test this indicators. Trading is a fascinating and interesting activity for me. It is an opportunity to explore financial markets, analyze data, and, of course, make decisions that can lead to profit. My other passion is sports betting

 

[csricksdds]

Thank you, I would like to test this indicators

You should find all that have been posted within this site.

 

[CashMoney]

Hi,

@samer800

Thank you for all indicator that you have been sharing and helping convert. Really appreciate your effort and time you have been putting in it.

I wanted to ask if you have any chart setup/ strategy that has been working out for you in trading futures/stocks on lower time frames. Would you be able to share your work?

Thank you

 

[XeoNoX]

not financial advice, and if you are unsure you should seek a licensed professional. However to address your question, there are no shortage of successful back-tested strategies in the strategies section, however keep in mind that "Past performance is no guarantee of future results.". This is a business of probabilities and proper risk must be accounted for. No amount of good strategies can offset bad risk management. You should take a look at the strategies section of this site and address risk accordingly.

 

[June Adkins]

Can anyone share a day trading strategy that has worked well for them? I've tested several strategies and tried various indicators, but I often end up with losing trades or find that the strategy doesn't hold up well in backtesting.

 

[Bezna$]

Can someone share me with a day trading strategy that has worked for them. I have tried many strategies and used many indicators but ended up losing trades or the strategy didn't work good enough backtesting.

mod note:
Not Updated In Real Time!
This script uses the HIGHESTALL function which has been depreciated by Schwab.
Because of its excess use of resources; it is no longer updated in real time.

[/QUOTE]

# Beznas Day Trading Strategy
# Only works in intraday charts
# http://tos.mx/!YkA7WlXW

declare hide_on_daily;
declare once_per_bar;

def S = if GetAggregationPeriod() <= AggregationPeriod.FIVE_MIN then yes else no;
def vClose = close;
def vHigh = high;
def vLow = Low;
#----------
def BN = BarNumber();
def NaN = Double.NaN;
def RTS = RegularTradingStart(GetYYYYMMDD());
def RTE = RegularTradingEnd(GetYYYYMMDD());
def RTH = GetTime() >= RTS and GetTime() <= RTE;
def LD = if RTH and !RTH[1] then vLow
    else if RTH and vLow < LD[1] then vLow
    else LD[1];
#def LD_BN = if LD==vLow and RTH then BN else NaN;
def LD_BN = if LD == vLow then BN else NaN;
def LD_H = if LD == vLow then vHigh else LD_H[1];
# =====================   BUY  ===================
plot Buy_Line = if BN >= HighestAll(LD_BN)
        then HighestAll(if IsNaN(vClose[-1])
        then LD_H
        else NaN) else NaN;
Buy_Line.SetPaintingStrategy(PaintingStrategy.LINE);
Buy_Line.SetLineWeight(3);
Buy_Line.SetDefaultColor(Color.UPTICK);

def upBar = if vClose crosses above Buy_Line and RTH then BN else upBar[1];
plot Buy = if BN == HighestAll(upBar) and S then vLow - (2 * TickSize()) else NaN;
Buy.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
Buy.SetLineWeight(5);
Buy.SetDefaultColor(Color.GREEN);

# =====================   SELL  ===================
def HD = if RTH and !RTH[1] then vHigh else if RTH and vHigh > HD[1] then vHigh else HD[1];
def HD_BN = if vHigh == HD and RTH  then BN else NaN;
def HD_L = if vHigh == HD then vLow else HD_L[1];

plot Sell_Line = if BN >= HighestAll(HD_BN) and S    #ADDED AND S
    then HighestAll(if IsNaN(vClose[-1])
    then HD_L else NaN) else NaN;
Sell_Line.SetPaintingStrategy(PaintingStrategy.LINE);
Sell_Line.SetLineWeight(3);
Sell_Line.SetDefaultColor(Color.DOWNTICK);

def dnBar = if vClose crosses beLow Sell_Line then BN else dnBar[1];
plot Sell = if BN == HighestAll(dnBar) and S then vHigh + (2 * TickSize()) else NaN;
Sell.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
Sell.SetLineWeight(5);
Sell.SetDefaultColor(Color.RED);



#-- Labels
input Labels = yes;
#AddLabel(Labels and !IsNaN(Buy_Line) and !IsNaN(Sell_Line), " Day trade: " + Round(Buy_Line, rnd) + " | " + Round(Sell_Line, rnd), Color.LIGHT_GRAY);
AddLabel(S and Labels and !IsNaN(Buy_Line), "DT> " + Round(Buy_Line), Color.LIGHT_GRAY);
AddLabel(S and Labels and !IsNaN(Sell_Line), "DT< " + Round(Sell_Line), Color.LIGHT_GRAY);

#-- Bubbles
input Bubbles = no;
AddChartBubble(Bubbles and Buy, Buy_Line, "> " + Round(Buy_Line), Buy_Line.TakeValueColor(), no);
AddChartBubble(Bubbles and Sell, Sell_Line, "< " + Round(Sell_Line),  Sell_Line.TakeValueColor(), yes);

#-- Alerts

input Alerts = {default "RTH", "YES", "NO"};

Alert(Alerts and (vClose crosses above Buy_Line), GETSYMBOL() + " DT BUY", Alert.BAR, Sound.Ding);
Alert(Alerts and (vClose crosses beLow Buy_Line), GETSYMBOL() + " DT CANCEL BUY", Alert.BAR, Sound.Bell);
Alert(Alerts and (vClose crosses beLow Sell_Line), GETSYMBOL() + " DT SELL", Alert.BAR, Sound.Bell);
Alert(Alerts and (vClose crosses above Sell_Line), GETSYMBOL() + " DT CANCEL SELL", Alert.BAR, Sound.Bell);

 

[Piper2808t]

mod note:
Not Updated In Real Time!
This script uses the HIGHESTALL function which has been depreciated by Schwab.
Because of its excess use of resources; it is no longer updated in real time.

# Beznas Day Trading Strategy
# Only works in intraday charts
# http://tos.mx/!YkA7WlXW

declare hide_on_daily;
declare once_per_bar;

def S = if GetAggregationPeriod() <= AggregationPeriod.FIVE_MIN then yes else no;
def vClose = close;
def vHigh = high;
def vLow = Low;
#----------
def BN = BarNumber();
def NaN = Double.NaN;
def RTS = RegularTradingStart(GetYYYYMMDD());
def RTE = RegularTradingEnd(GetYYYYMMDD());
def RTH = GetTime() >= RTS and GetTime() <= RTE;
def LD = if RTH and !RTH[1] then vLow
    else if RTH and vLow < LD[1] then vLow
    else LD[1];
#def LD_BN = if LD==vLow and RTH then BN else NaN;
def LD_BN = if LD == vLow then BN else NaN;
def LD_H = if LD == vLow then vHigh else LD_H[1];
# =====================   BUY  ===================
plot Buy_Line = if BN >= HighestAll(LD_BN)
        then HighestAll(if IsNaN(vClose[-1])
        then LD_H
        else NaN) else NaN;
Buy_Line.SetPaintingStrategy(PaintingStrategy.LINE);
Buy_Line.SetLineWeight(3);
Buy_Line.SetDefaultColor(Color.UPTICK);

def upBar = if vClose crosses above Buy_Line and RTH then BN else upBar[1];
plot Buy = if BN == HighestAll(upBar) and S then vLow - (2 * TickSize()) else NaN;
Buy.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
Buy.SetLineWeight(5);
Buy.SetDefaultColor(Color.GREEN);

# =====================   SELL  ===================
def HD = if RTH and !RTH[1] then vHigh else if RTH and vHigh > HD[1] then vHigh else HD[1];
def HD_BN = if vHigh == HD and RTH  then BN else NaN;
def HD_L = if vHigh == HD then vLow else HD_L[1];

plot Sell_Line = if BN >= HighestAll(HD_BN) and S    #ADDED AND S
    then HighestAll(if IsNaN(vClose[-1])
    then HD_L else NaN) else NaN;
Sell_Line.SetPaintingStrategy(PaintingStrategy.LINE);
Sell_Line.SetLineWeight(3);
Sell_Line.SetDefaultColor(Color.DOWNTICK);

def dnBar = if vClose crosses beLow Sell_Line then BN else dnBar[1];
plot Sell = if BN == HighestAll(dnBar) and S then vHigh + (2 * TickSize()) else NaN;
Sell.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
Sell.SetLineWeight(5);
Sell.SetDefaultColor(Color.RED);



#-- Labels
input Labels = yes;
#AddLabel(Labels and !IsNaN(Buy_Line) and !IsNaN(Sell_Line), " Day trade: " + Round(Buy_Line, rnd) + " | " + Round(Sell_Line, rnd), Color.LIGHT_GRAY);
AddLabel(S and Labels and !IsNaN(Buy_Line), "DT> " + Round(Buy_Line), Color.LIGHT_GRAY);
AddLabel(S and Labels and !IsNaN(Sell_Line), "DT< " + Round(Sell_Line), Color.LIGHT_GRAY);

#-- Bubbles
input Bubbles = no;
AddChartBubble(Bubbles and Buy, Buy_Line, "> " + Round(Buy_Line), Buy_Line.TakeValueColor(), no);
AddChartBubble(Bubbles and Sell, Sell_Line, "< " + Round(Sell_Line),  Sell_Line.TakeValueColor(), yes);

#-- Alerts

input Alerts = {default "RTH", "YES", "NO"};

Alert(Alerts and (vClose crosses above Buy_Line), GETSYMBOL() + " DT BUY", Alert.BAR, Sound.Ding);
Alert(Alerts and (vClose crosses beLow Buy_Line), GETSYMBOL() + " DT CANCEL BUY", Alert.BAR, Sound.Bell);
Alert(Alerts and (vClose crosses beLow Sell_Line), GETSYMBOL() + " DT SELL", Alert.BAR, Sound.Bell);
Alert(Alerts and (vClose crosses above Sell_Line), GETSYMBOL() + " DT CANCEL SELL", Alert.BAR, Sound.Bell);

[/QUOTE]





this looks very good

 

[xrx11]

what successful mechanical or indicator based strategies that you come across ?

 

[useThinkScript]

Just starting out with daytrading or the ThinkOrSwim app?
start here:
https://usethinkscript.com/threads/where-to-start-with-thinkorswim-and-daytrading.20946/#post-152716

Daytrading / Scalping is not just about using the right indicators:
https://usethinkscript.com/threads/best-time-frame-for-trading-for-thinkorswim.12209/#post-152641

Best Indicators for daytrading and scalping:
https://usethinkscript.com/threads/what-are-the-best-indicators-in-thinkorswim.14498/#post-151586

Member's favorites:
https://usethinkscript.com/threads/...ogether-and-what-time-frames-do-you-use.9868/

Is it possible to be a profitable daytrader?
https://usethinkscript.com/threads/thinkorswim-profitable.17469/

A caution about "backtesting"
https://usethinkscript.com/threads/backtesting-forum-indicators-in-thinkorswim.20621/

A few VIP links:
What happens when the market lacks clear direction:
https://usethinkscript.com/threads/how-to-use-technical-indicators.19303/#post-144767

Learning from your past trades:
https://usethinkscript.com/threads/learning-from-past-trades.18250/

@June Adkins @xrx11

 

[cosorio]

I feel like I've tried 20 indicators (not at once) and even with backtesting and strict entry requirements, my trades are 50/50.
I feel mesmerized by indicators that look like they predict the market perfectly, but when I try to use them it doesn't work out that well. Even being strict, using various indicators to help with entry/exits.

Every time I looked at some professional's charts from a picture taken from a trading desk they always have very little indicators. It looks like some sort of EMA/SMA cross, VWAP, volume, multiple time frames from a single stock, and the news bar.

So if these people doing 100K+ a month are using so little then what is their edge?

There must be so many different edges out there. If you are a successful trader, can you share your edge?
example: I scalp /ES on the 3m when RSI is below 30 and see a bump in volume. or I trade options verticle spreads with a %70 delta.

I just cant find my edge and its frustrating. I've been at this for over a year.. every day... I tried Futures now im trying to learn options.

The answer is simple: technical analysis is based on past data, and based on that, it is impossible to predict the future, not even a few minutes ahead; even worse when news comes out... It is only a reference and assumes that the situation will not change. I think swing trading based on projections and estimates of EPS, stock revenues, or favorable temporary circumstances (momentum) is better. Furthermore, with that strategy, you are free from indicators and oscillators.

Translated with DeepL.com (free version)

 

[useThinkScript]

@cosorio

Good news! You have come to the right place to learn, not all technical analysis is based on lagging historical indicators.

Study the various AGAIG strategies to learn how to accurately use historical studies,
along with no-lag real-time price action and momentum studies necessary for comprehensive but simple and visual AGAIG chart analysis.

You are correct. Hopefully, all members know to combine any strategy with a review of fundamentals, news events, support & resistance, and multiple timeframe analysis.
These are the backbone of any good basic strategy:
https://usethinkscript.com/threads/good-strategy-basics-in-thinkorswim.8058/