blackFLAG FTS - SwingArm Trend Indicator using ATRTrailing Stop and Fibonacci Retracements

[Tradervic]

That vid is what I was attempting to explain LOL....
once you have it set up save your workspace again

baxtr, duh, I feel like I am a klutz....and I have been using TOS for 15 years at least. Thank you again!!!

 

[Tradervic]

@fjr1300 thank you for your time and teachings and videos on this strategy. Your generosity is much appreciated and your story and background is inspiring. And thank you BenTen and all the helpful folks here for all the assistance provided. I watched Jose's videos TWICE and I think I have a good grasp of the methodology. I highly recommend people watch them at least a couple of times and take notes! There are many indicators and one can get lost and confused easily but they all provide an important function....which is to help one trade better.

I love Heikin Ashi and am glad that its part of the system. The one indicator I am not too gung ho on is the Hull moving average with its green/red/brown colors. Its seems confusing. I prefer the standard TOS Hull moving average.

One question I have is that Jose never mentions making a trade based on the change of color of the Heikin Ashi candle. If price is hitting support and the color changes from red to green, even though the SwingArm is bearish, wouldn't it make sense to go long with a stop below the previous red candle?

Thank you in advance. I like the idea of paying it forward. I hope to be able to do so as my trading improves.

 

[[deleted]13]

@fjr1300 thank you for your time and teachings and videos on this strategy. Your generosity is much appreciated and your story and background is inspiring. And thank you BenTen and all the helpful folks here for all the assistance provided. I watched Jose's videos TWICE and I think I have a good grasp of the methodology. I highly recommend people watch them at least a couple of times and take notes! There are many indicators and one can get lost and confused easily but they all provide an important function....which is to help one trade better.

I love Heikin Ashi and am glad that its part of the system. The one indicator I am not too gung ho on is the Hull moving average with its green/red/brown colors. It seems confusing. I prefer the standard TOS Hull moving average.

One question I have is that Jose never mentions making a trade based on the change of color of the Heikin Ashi candle. If the price is hitting support and the color changes from red to green, even though the SwingArm is bearish, wouldn't it make sense to go along with a stop below the previous red candle?

Thank you in advance. I like the idea of paying it forward. I hope to be able to do so as my trading improves.

Excellent comments in the past couple of days. I can see many are putting the time to study, review, and study some more. That is awesome. That is the only way to improve. One must put in the time to get the much-needed experience to successfully learn to trade. It will take time and effort to become a consistently profitable trader.

The hull moving average. It is in my view, the best measure of price action expressed with a simple line. The Hull Turning Points by @mashume is a fantastic representation of price action. For a new trader, it shows when price accelerates, decelerates, or stalls. This is very valuable in understanding how price behaves at breakouts or when it reaches targets, etc. The colors indicate each of the stages of price in the cycle you are looking at. Since I have a good understanding of price action, I turn off the moving average and all settings and only use it to provide the buy/sell triggers which occur at the change of color as @Tradervic states. Your comments are accurate. The issue is where the change is occurring and how the price is behaving. during a consolidation process, the hull may trigger in both directions multiple times. During a top over, the signal may occur when the price has moved too far from the Hull and if you short, at the color change, the price will likely bounce back up all the way to the moving average to backtest it (a better entry). So, in summary, the color change is a confirmation of the change of sentiment in price action, the issue is if it is a good time to enter or not. It all depends on your understanding of the process and whether or not you are ok with the size of the stop if price action is too far from the moving average. "I hope this helps in answering your question"

It has been said that a picture is worth a 1000 words, so here they are:

 

[bcnhill]

@fjr1300, like so many here I am really enjoying studying this method. Thank you for your time and effort!

In terms of discussion regarding the Hull and how it may help with new people trading this, I have found your initial grid posted on the Hull Concavity thread quite useful as a resource, as it contains both a 55 and 21 length HMA. The chart can get a little bit busy with the number of indicators, but watching those two in relation to each other can be really helpful.

I agree with @Tradervic regarding the Hull in terms of appearance. I am lousy at coding, but I hacked together a version I am posting here - for people ramping up like myself, this may be helpful. Others better at reading price action than I am probably do not need it. It shows the Swing Arm, and the 21 and 55 length HMAs. Trying to keep it really simple. I changed the bubbles to show which HMA is firing the signal. Again, not a technical coder here so please be nice ...

There was a really excellent posting on Discord today with a multiple timeframe feature to the Hull - also worth looking at in my view.

Just a beginner but in case this helps someone else....

https://tos.mx/H7sGiUT

 

[[deleted]13]

@fjr1300, like so many here I am really enjoying studying this method. Thank you for your time and effort!

In terms of discussion regarding the Hull and how it may help with new people trading this, I have found your initial grid posted on the Hull Concavity thread quite useful as a resource, as it contains both a 55 and 21 length HMA. The chart can get a little bit busy with the number of indicators, but watching those two in relation to each other can be really helpful.

I agree with @Tradervic regarding the Hull in terms of appearance. I am lousy at coding, but I hacked together a version I am posting here - for people ramping up like myself, this may be helpful. Others better at reading price action than I am probably do not need it. It shows the Swing Arm, and the 21 and 55 length HMAs. Trying to keep it really simple. I changed the bubbles to show which HMA is firing the signal. Again, not a technical coder here so please be nice ...

There was a really excellent posting on Discord today with a multiple timeframe feature to the Hull - also worth looking at in my view.

Just a beginner but in case this helps someone else....

https://tos.mx/H7sGiUT

Thank you. I will check it out when I get to my office.

 

[mattarmstrong88]

@fjr1300 I need some Help. I see the buy confirmation Alert and the Oversold/ Overbought alert but cant find the alert for when thh swingarm breaks Bullish/Bearish. I just see the watchlist code which wont work in an alert

 

[baxtr]

@fjr1300 I need some Help. I see the buy confirmation Alert and the Oversold/ Overbought alert but cant find the alert for when thh swingarm breaks Bullish/Bearish. I just see the watchlist code which wont work in an alert

It's in the first post of this thread, swing arm bearish, and swing arm bullish, right above the overbought oversold alerts.. Set that as a watchlist then have that watchlist alert when a ticker is added

 

[mini]

Can someone help to made a scan version for the "buy zone 4" and "sell zone 4" for this script which posted by @Playstation ? Thanks in advance!

 

[mjamesb80]

@mini
Delete that last section
assignBackgroundColor(if state == state.long then Color.GREEN else Color.RED);
AddLabel(yes, if bullZone2 then "ZONE2" else if bullZone3 then "ZONE3" else if bullZone4 then "BUY ZONE4" else if bearZone2 then " ZONE 2" else if bearZone3 then " ZONE3" else if bearZone4 then "SELL ZONE4" else " ", if bullZone4 or bearZone4 then color.BLUE else Color.BLACK);

add this

Plot scan = bullZone4;
#Plot scan = bearZone4;

Move the # up one line to scan for bearZone4
Leave as you see it for bullZone4

Adjust your aggregation period at the top (not within the code)
Let me know if you need more assistance

 

[mini]

@mini
Delete that last section
assignBackgroundColor(if state == state.long then Color.GREEN else Color.RED);
AddLabel(yes, if bullZone2 then "ZONE2" else if bullZone3 then "ZONE3" else if bullZone4 then "BUY ZONE4" else if bearZone2 then " ZONE 2" else if bearZone3 then " ZONE3" else if bearZone4 then "SELL ZONE4" else " ", if bullZone4 or bearZone4 then color.BLUE else Color.BLACK);

add this

Plot scan = bullZone4;
#Plot scan = bearZone4;

Move the # up one line to scan for bearZone4
Leave as you see it for bullZone4

Adjust your aggregation period at the top (not within the code)
Let me know if you need more assistance

Thank you so much for your help!

 

[thatguytrades]

Does this only work for futures only or will it work for stock option contracts?

 

[BenTen]

@thatguytrades See this comment here.

 

[cfw238]

@BenTen Do you know why the alert when i put in the study it say rec usuage is not allowed in this context? The one you posted the study is not working on it.

 

[thatguytrades]

@thatguytrades See this comment here.

ok darn. looked like a nice indicator too.
I wanted to use it because I trade options and stocks.

 

[BenTen]

@thatguytrades Some members in our Discord chatroom are using it to trade options. You can always add it to your chart and test it out. Doesn't hurt to try.

 

[greygoose]

Do you know why the alert when i put in the study it say rec usuage is not allowed in this context? The one you posted the study is not working on it.

hey there is a video on how to insert the video onto thinkorswim. ill try and find it

If you look on the first page, there is a video on how to set up the alert.
Are you having the error AFTER following the video instructions?

 

[cfw238]

@greygoose Yes, I imported the link, the study didn't come completed through the link and also tried adding the study myself, somehow error saying " rec usuage is not allowed in this context". Thank you.

Is it possible to provide the scan code here with no error? I stopped at buy signal line and still doesn't work on alert. Thank you. Wasn't able to import post 340. Thanks

 

[greygoose]

@cfw238

BULLISH
https://tos.mx/wBQ1VmE
BEARISH
https://tos.mx/fJKB38y
edit the time frame to fit what you are looking for, then save. Let me know if this is what you are looking for/

 

[cfw238]

@greygoose Ok same error in the alert study custom thinkscript editor. Stating rec usuage is not allowed in this context. Not sure what is the problem. Think I might need the script from the video with the arrows to work. Does the alert work with swing arm or just the hma? Thank you

 

[greygoose]

i dont know what you are doing wrong.

click on the link above. that will open the script in thinkorswing. save it.
on think or swim go to SCAN > LOAD SCAN QUERY.... then insert the query which you just downloaded and saved. then edit the time period and save it.

i just did all these steps with the link i provided, i dont know what you are doing.

the link automatically puts the script into TOS for you, so im not sure why you are trying to paste the code.

your screenshot is not large enough, i need to see what tabs and windows you are in within TOS