Pre-Sales VIP Questions

[Learnbot]

I am not VIP member yet, however, thinking about subscribing to your discord and obtaining the "buy the dip" indicator. I just wanted to check something before I subscribe to VIP, would you be able to post an example of 1min chart for TSLA, Apple, ZM or whatever else stock you see fit (not penny stocks plz since I am not that educated to trade small caps yet). I wanted to see if Buy the Dip works for day trading as well as swing.

Edit: This thread has gotten very long. Added some info below for easier access to information.
Summary:
https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/page-23#post-89427

Helpful links for anyone interested in seeing how VIP members are using the BTD indicator to trade:

• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-35088
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-35087
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-35117
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-35171
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-35819
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-39668
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-40185
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-40940
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-44869
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-47726
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-48056
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-50020

Customer's reviews:

• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-35938
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-36156
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-43881
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-47162
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-47463
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-47627
• https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/post-53124

More reviews can be found here: https://usethinkscript.com/threads/buy-the-dip-indicator-for-thinkorswim.3553/post-34186

 

[BenTen]

@barbaros Sure, here is the zoomed in chart with arrows on. No arrow for this particular scenario because none of the lines crosses below 0.

 

[bhaskar_madugula]

I saw a request in the Discord to describe how people have been using BTD indicator on lower interval trades and thought I would share my experience.
I primarily scalp and have been using BTD to evaluate BULLISH entries for this style of short term trading along with TTM Squeeze, TTM Wave, RSI, and MACD w/ Histogram. My ideal setup is when the three BTD lines converge to indicate an entry opportunity, TTM Squeeze is out of the squeeze (green dots) and has a confirmed bullish bias from a recent bearish move, TTM Wave confirming the bullish momentum, MACD being stretched down and ready for a bullish move, and RSI being below the 30 line.

Attached is my scalps from today on NVDA where I pretty much had this scenario several times -- you'll see that I took three trades that were close to the dip as soon as TTM Squeeze changed colors, while being in an area where all three BTD lines are overlapping.

I don't know if this use case is how the BTD indicator was intended for, but I've been trying it out for ~ a week and it has been working for me on the small set of tickers that I have been scalping.

I am curious how you avoided taking trade before 11:54 am, I thought your conditions were met before?

 

[Shrum]

@BenTen would you be willing to show a chart of 5000 volume bars and 2000 volume bars with the arrows on for the ES? Thanks

 

[BenTen]

@Shrum What do you mean by that?

 

[Learnbot]

ZM with BTD was easy money today! Very good indicator

 

[Shrum]

@BenTen I apologize, I use both ninja and TOS, please show the chart with arrows for 2000 tick and 5000 tick for ES and NQ if you do not mind. NT has volume bars, not TOS

 

[freedom Traders]

@BenTen i paid the VIP...can't wait thank you

 

[MintyFresh]

I am curious how you avoided taking trade before 11:54 am, I thought your conditions were met before?

Good eye! You are correct that my conditions were met prior to 11:54a. I was just busy that morning and didn't get to trading till around 11:30a or so (my 8:30a).

 

[BenTen]

@freedom Traders Thanks for joining us. You're all set

 

[xad]

ZM with BTD was easy money today! Very good indicator

What time frame were you using? I don't see a buy signal in either in standard or advanced BTD study

 

[QDoan]

Hi Ben,
I am curious how BTD works; joined VIP. Thanks for the promising indicator.
Could you add me in your chatroom, can't wait to learn

 

[BenTen]

@Shrum Sorry for the late response. I didn't see your question for some reason. Here you go.

2000t

5000t

 

[Shrum]

@Shrum Sorry for the late response. I didn't see your question for some reason. Here you go.

2000t

5000t

So does it mean no trades since no arrows? Thanks

 

[BenTen]

@Shrum For those two particular timeframes that you asked for, there were no arrows.

 

[Learnbot]

@xad i trade on 1min chart because i dont have much time in the morning to trade before i have to get to work. Also i dont trade based on "arrows", i (for the most part) trade on the convergence of short, med and long lines and use vwap, 200 SMA and such to check trend and verify my entry and so on.

 

[barbaros]

Guys, this looks like it is too good to be true. Why is this indicator so good?

Has anyone done any statistics for success rate across different asset classes and time frames? I assume there are some parameters to tweak in the indicator? Will you be curve fitting if you do so?

I have my finger on the button ready to click the VIP membership.

 

[BenTen]

@barbaros There is no holy grail, and this one certainly isn't. Be prepared for false signals. You see them in every indicator. As long as you understand how it works and how to use it, then you should be good.

 

[Learnbot]

@markpurr i am in the same situation (having day job and trading i mean), what time frame do u use for swing trading if u don't mind me asking?

 

[barbaros]

@barbaros This is not the holy grail, as Ben said, but it gave me an advantage in my swing trade. I can't keep an eye on the market every mins because of my day job. I day traded a couple signals during the day just to test the water. 3/3 perfectly worked out. Now I'm strictly using it to swing trade. @BenTen suggested that we should pair it with support and resistance.

Thanks @BenTen. I’m aware there is no perfect indicator or strategy. @markpurr thanks, that is what I was looking for. 3/3 is good, but may be others can chime in with larger number of trades or backtest statistics.

 

[BenTen]

@markpurr Well done, keep it up