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

[ProcrastinatingPerfection]

How do I set the swingarm tracker for 1 hour and entry off a 15 minute?

 

[supercool]

I did a comparison of the july 7 swingarm version with what is posted by Jose and they are 98% identical. There are some new arrows which he calls pressure points (pretty sure its not rocket science)and nothing more. For basics if you just customized ATR TrailingStop to 28/5 configuration its a 90% match to swingarms. If you added 2 more fib levels (78.6, 88.6) its becomes even closer.

Also not sure if every one knows this but the original code comes from futures.io posted in 2013. I am posting the pics for your reference.

The guys including Ben here has done a fantastic job putting it all together initially for Jose. Hats off folks.

 

[DDW]

I did a comparison of the july 7 swingarm version with what is posted by Jose and they are 98% identical.

Didn't Jose post that July 7 version of swingarm?

 

[supercool]

Didn't Jose post that July 7 version of swingarm?

yes its already on the 1st page.

 

[DDW]

yes its already on the 1st page.

You are comparing that one with the one he has been posting on twitter, the "Platinum 5.0" version? The main difference seems to be those "buying pressure" arrows. Are those based on volume you think?

 

[supercool]

You are comparing that one with the one he has been posting on twitter, the "Platinum 5.0" version? The main difference seems to be those "buying pressure" arrows. Are those based on volume you think?

quite possible or based on trend reversal or squeeze. I integrated trend reversal to it and that had some good signals. Need to play with squueze.

 

[topmarx]

The Swingarm looks to be an adaptation of Average True Range Trailing Stops by Sylvain Vervoort with Fibs added ?

http://traders.com/Documentation/FEEDbk_docs/2009/06/TradersTips.html

 

[BenTen]

@topmarx That is correct. The SwingArm indicator is modified version of the ATR Trailing Stop indicator with Fibonacci values.

 

[Billions]

Has anyone figured out the pressure points and how to apply?

 

[Maya]

Been some time since I last took an interest, I'm more of a lurker, haha. Took me some time to investigate and get the chance to see it myself.

Re: the pressure arrows

It has NOTHING to do with volume. I suspect the platinum version or the pressure indicator as some of you called it is based on the True Momentum indicator by Mobius.

Patched something together, test it out.

This is only one method of using the TMO indicator. There are numerous different mixes.

Learn to read Level 2 + Time & Sales. That's where you find real buying / selling pressure.

Work with what you have. STOP chasing!

 

[Ishaam]

Been some time since I last took an interest, I'm more of a lurker, haha. Took me some time to investigate and get the chance to see it myself.

Re: the pressure arrows

It has NOTHING to do with volume. I suspect the platinum version or the pressure indicator as some of you called it is based on the True Momentum indicator by Mobius.

Patched something together, test it out.

This is only one method of using the TMO indicator. There are numerous different mixes.

Learn to read Level 2 + Time & Sales. That's where you find real buying / selling pressure.

Work with what you have. STOP chasing!

Hi Maya,

This looks to be on target, having said that, I do agree with you that there is no real pressure alerts in TOS as TOS does not have order flow built into it's system besides what you have mentioned by looking at Time and Sales and Level 2, those arrows will give you false signals in any case most of the time if you were to trade them alone, you still need a proper framework to determine price action. It's all good in hindsight to look at these "pressure alerts" but trade them live and I'm sure you will be confused by them as well where you have opposing "pressure alerts" in both directions expecting a reversal of price in one way or the other.

 

[tshirt99]

I am having problems getting the watchlist to update is there a setting I am missing? For instance if the watchlist column indicates the 30 min is in buy support and I go to the chart the chart shows it is in sell resistance.

 

[BenTen]

@tshirt99 If you are using extended hours on your chart, be sure to have the watchlist pull data with extended hours. If you're not using extended hours on your chart, make sure your watchlist column isn't using extended hours. You can check by looking for the EXT checkbox.

The timeframe is another thing to check. They must be the same.

 

[tshirt99]

Thank you BenTen for the quick reply. I think the extended hours was it!

 

[fpapedo]

@Maya Can you share the chart?

 

[harber09]

@Pensar You have paid some of my bills Pensar. I've been looking to thank the author of that code ever since I got it. When it flashes a daily arrow, I wait for a pullback to swingarm and enter (my go to setup on the chart is a combo of your script, swingarm and the opening range break) and more often than not its a profitable play. In fact, I am saying this to everyone in all honesty, if you're stuck at trading, then add those indicators on a chart, and go find a nice big cap tech stock to trade (NVDA NFLX ETC) Super simple easy strat.

I'm glad I found you. I'm able to thank you for your tremendous work. Thank you!! May the Force be with you!

What time frame do you use it under for day trading? Or going long?

 

[stockula]

I like it on the 5min time frame. I don’t take the arrows solely as entry signals, because they fake out a lot.

arrows taken near swingarm zones, ORB levels or wedge breaks have much higher probability to follow through,

so I look for entry arrows in those conditions.
@harber09

 

[Maya]

@fpapedo Nothing special, it's using TMO by Mobius with higher agg as the underlying (original thread)

# My version of so called "blackFLAG FTS PLATINUM Ver. 5.0" @Maya
# TMO ((T)rue (M)omentum (O)scillator) With Higher Aggregation
# Mobius
# V01.05.2018
#hint: TMO calculates momentum using the DELTA of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.

input length = 14;
input calcLength = 5;
input smoothLength = 3;
input agg = AggregationPeriod.HOUR;

def o = open(period = agg);
def c = close(period = agg);
def data = fold i = 0 to length
           with s
           do s + (if c > getValue(o, i)
                   then 1
                   else if c < getValue(o, i)
                        then - 1
                        else 0);
def EMA5 = ExpAverage(data, calcLength);
def Main = ExpAverage(EMA5, smoothLength);
def Signal = ExpAverage(Main, smoothLength);
# End Code TMO with Higher Aggregation

plot uarrow = Main > Signal;
uarrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
uarrow.SetDefaultColor(Color.CYAN);
uarrow.SetLineWeight(1);

plot darrow = Main < Signal;
darrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_Down);
darrow.SetDefaultColor(Color.red);
darrow.SetLineWeight(1);

Default higher period = Hourly. Change this to anything you want. Play with it to find the best timeframe.

 

[technicallydreaming]

@fpapedo Nothing special, it's using TMO by Mobius with higher agg as the underlying (original thread)

# My version of so called "blackFLAG FTS PLATINUM Ver. 5.0" @Maya
# TMO ((T)rue (M)omentum (O)scillator) With Higher Aggregation
# Mobius
# V01.05.2018
#hint: TMO calculates momentum using the DELTA of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.

input length = 14;
input calcLength = 5;
input smoothLength = 3;
input agg = AggregationPeriod.HOUR;

def o = open(period = agg);
def c = close(period = agg);
def data = fold i = 0 to length
           with s
           do s + (if c > getValue(o, i)
                   then 1
                   else if c < getValue(o, i)
                        then - 1
                        else 0);
def EMA5 = ExpAverage(data, calcLength);
def Main = ExpAverage(EMA5, smoothLength);
def Signal = ExpAverage(Main, smoothLength);
# End Code TMO with Higher Aggregation

plot uarrow = Main > Signal;
uarrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
uarrow.SetDefaultColor(Color.CYAN);
uarrow.SetLineWeight(1);

plot darrow = Main < Signal;
darrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_Down);
darrow.SetDefaultColor(Color.red);
darrow.SetLineWeight(1);

Default higher period = Hourly. Change this to anything you want. Play with it to find the best timeframe.

I added this to my charts and thought it was the holy grail. Then I realized it repaints for x amount of candles depending on timeframe the indicator is set to.

 

[BenTen]

@technicallydreaming I looked at the code @Maya posted above. Since it's using data from the higher timeframe, you need to wait for the candle from that timeframe to close for confirmation.