Confirmation Candles Indicator For ThinkorSwim

[HODL-Lay-HE-hoo!]

Hello, can you please explain what strategy are you using to trade ES?

Here you go, from the man himself. @Christopher84

https://usethinkscript.com/threads/confirmation-candles-indicator-for-thinkorswim.6316/post-114463

 

[Terminator]

Edit

Page 1 the first screenshot explains C3_Max

Go back to page 95 or so if you want but I have some fairly recent screenshots and explanations some of which on this page (107) or type my screen name in the search bar and my comments will appear for this thread.

Newest version (from my screenshots) for the normal chart tab: http://tos.mx/YvWYK12

Newest version (from my screenshots) of the active trade chart tab: https://tos.mx/pwAANlN

Thank you you are very helpful

 

[phatboyz]

Screenshot Edit

the whole setup: http://tos.mx/3OxJpPS

regular chart tab: http://tos.mx/YvWYK12

active trader: http://tos.mx/GUpRaTt


Ok try this one.

should look like this on the regular chart

The Gex lower indicator did not finish loading before the screenshot was taken (computer is a new Thinkpad P1 just incase your wondering… but loads much quicker on the 6-9month)

I generally set the active trader chart to Daily 6 or 9 months if I am using the Gex lower study as it loads faster however the IV crush labels may not work unless you set it to 1 year or more.

and the active trader chart (the "Gex" lower study takes up some computing power so you may want to leave it off unless you want to see it.) I only look at this one the day before.

I am testing your setting somehow when I place the order the order status doesn't show up on the chart ? all my old setting shows except your setting?

 

[Kislayakanan]

Here you go, from the man himself. @Christopher84

https://usethinkscript.com/threads/confirmation-candles-indicator-for-thinkorswim.6316/post-114463

Thank you so much, I know you have shared your set up and how you trade it. Can you point me to some reading material? I want to learn how/what you use to become profitable trader. I have been struggling from last 1 year. I feel like this will help me a lot.
If you share the post where you have shared your strategy it will be valuable.

 

[Kislayakanan]

@Christopher84 . I have been trying to learn your ES scalping strategy. Can you please explain me, how do you take entries on T9? I see Blue arrow going up/down, and then there are green, orange and red line.
I am confused between the arrows and how and when to enter long/short
Do we take entry when 5 min bar closes above/below (Green/Red) line?

 

[Terminator]

Does Chrisotpher have video explaining his charts. I trying to read everything and have somewhat of a concept to everything. As a visual person it would really help. Used the chart today and did well.

 

[Christopher84]

Does Chrisotpher have video explaining his charts. I trying to read everything and have somewhat of a concept to everything. As a visual person it would really help. Used the chart today and did well.

Hi @Terminator,
There is a video on pg.1 of the thread discussing an earlier version of C3. I have also put discriptions above most of the codes on pg.1 to help breakdown the various components for everyone. This coming year I will be putting together some new videos discussing some of the intricacies of C3_Max as well as several of the strategies that I have put together and how to apply them. I am hoping it will be helpful.

 

[Terminator]

Hi @Terminator,
There is a video on pg.1 of the thread discussing an earlier version of C3. I have also put discriptions above most of the codes on pg.1 to help breakdown the various components for everyone. This coming year I will be putting together some new videos discussing some of the intricacies of C3_Max as well as several of the strategies that I have put together and how to apply them. I am hoping it will be helpful.

Thanks I did not see that video. I will lok again

 

[HODL-Lay-HE-hoo!]

I am testing your setting somehow when I place the order the order status doesn't show up on the chart ? all my old setting shows except your setting?

Hmmm not sure I assume it will be in settings though.

 

[HODL-Lay-HE-hoo!]

@Christopher84 . I have been trying to learn your ES scalping strategy. Can you please explain me, how do you take entries on T9? I see Blue arrow going up/down, and then there are green, orange and red line.
I am confused between the arrows and how and when to enter long/short
Do we take entry when 5 min bar closes above/below (Green/Red) line?

TS_V9 Entry / Exit (addressed but not a specific answer) & advice to new and / or struggling traders

1. Only trade in the direction of the hourly (determined using TS_V9 hourly settings

2. Use TS_V9 5min settings for entry and exit… to your question one should not enter based on the buy / sell indication alone as you need to be mindful of price action, volume, key levels, etc. based on your style of trading.

All these indicators help you to more easily identify key levels, strong price action, trend direction, trend reversals vs pullbacks, abnormally high volume, etc. The setups for entry and exit will not be the same every time therefore you must watch the indicator(s) in action until you understand what they are telling you. You could start on page one of this thread and view the comments I linked in my previous post with screenshots of different set ups.

3. Should be #1 If you have been loosing trades &/or loosing a substantial amount of money holding trades that went against you… or even if you are a new trader you need to manage your risk and preserve your capital at all costs.

You can have the greatest indicators of all time but if you don’t have a plan to manage your risk (stopping out below $X / Take profit above $X) it’s only a matter of time before your account dives into the ground.

Proper risk management will make losses easier to accept when they happen - easier to learn from - much less stress, depression, anxiety and the worst case scenario would be you exit a winner too soon.

If needed step back and watch until you are confident enough then keep your trades small (like really small) and stops tight until you are consistently profitable.

Journal your trades. Why did you enter or exit? What time was it? Etc. If you lose trades placed after a certain time… do not trade during that time… etc.

Last but not least… become an emotionless and mindless robot that only takes trades that meet your criteria and mercilessly cut loosing trades.

Study now trade later… YOLO!

 

[HODL-Lay-HE-hoo!]

TSLA premarket setup notes

Disclaimer
For educational purposes only! Do not trade based on this information

When a PLD crossover occurs and then the opposite PLD crossover occurs in just a few bars a decent size move tends to follow. It is also worth noting that the yellow OB line is inside the supply zone which makes for a key level where price tends to have a stronger reaction to the level being broken (up or down)

https://imgur.com/a/NDqpjiL

 

[HODL-Lay-HE-hoo!]

The PLD cross happened but the light green OS (support) line was nearby indicating a bounce was likely - not to mention the bullish price action.

When zones are close together the price action will be choppy and hang out in that range usually. When price has a strong breakout from a tight supply/demand zone it tends to be a decent sized move. I’ll find some examples to screenshot.

https://imgur.com/a/1HkxYaU

 

[HODL-Lay-HE-hoo!]

Range compression setup. Range compression + large price action tends to lead to a strong move in one direction or the other.

https://imgur.com/a/OU9pZHC

 

[jojopaz]

can someone please tell me how to install the (Confirmation Level WL) to TOS ???

 

[HODL-Lay-HE-hoo!]

I will be watching for price to reject at the PLD line on the 3/15min charts… hourly not looking great but waiting for confirmation

3 min TSLA

https://imgur.com/jWSD2Od

15 min TSLA

https://imgur.com/YNpXe0f

1 hr TSLA

https://imgur.com/a/1ds7EQl

 

[graci117]

@Christopher84 I am looking at the strategies and the P/L graph, I see that if the trade is opened during the RTH and if it gaps up or down it can have huge profits or losses. Is there a way to change it and close the trade before close and start over the following day? Thanks so much!!

 

[graci117]

@Christopher84 I am looking at the strategies and the P/L graph, I see that if the trade is opened during the RTH and if it gaps up or down it can have huge profits or losses. Is there a way to change it and close the trade before close and start over the following day? Thanks so much!!

I also have great results on /ES and /NQ on a 1 minute chart using TS_Analysis_v9. I changed the ATR to 1.2 and ATRPeriod to 50. I also added the ADX filter to the AddOrder so I don't open trades in a chop. However I can only either do buy or sell at a time if I do both it messes it up completely. Both Buy and sell yield very good results. Is there a way to add both at the same time without the BUY_AUTO and SELL_AUTO??

input length = 14;
input ADXAvgType = AverageType.WILDERS;

def ADX = DMI(length, ADXAvgType).ADX;


def TrailingStop = trail;
def LongEnter = (price > TrailingStop );
def LongExit = (price < TrailingStop );

AddOrder(OrderType.BUY_TO_OPEN, condition = LongEnter and ADX >22 , price = open[-1], 1, tickcolor = GetColor(1), arrowcolor = Color.LIME);
AddOrder(OrderType.SELL_TO_CLOSE, condition = LongExit or close < EntryPrice() - 2.5, price = open[-1], 1, tickcolor = GetColor(2), arrowcolor = Color.LIME);

 

[HODL-Lay-HE-hoo!]

I will be watching for price to reject at the PLD line on the 3/15min charts… hourly not looking great but waiting for confirmation

3 min TSLA

https://imgur.com/jWSD2Od

15 min TSLA

https://imgur.com/YNpXe0f

1 hr TSLA

https://imgur.com/a/1ds7EQl

PLD Rejection was canceled right at open with strong price action to the upside.

I believe I will be using the Elhers distant*** ((yellow line)) (by @Christopher84 page 1) in place of the PLD as it seems to yield better results.

I made TS_V9 a study to add to my mobile setup (using the arrows only - white - of course I will likely only pay attention to them on the timeframe I adjust the settings for)

Removed the bull bear V5 from the C4_Max_V5_Breakouts code to work with mobile (at the moment only using the OB up and down arrows (yellow) testing them out)

https://imgur.com/a/Uc3Gdex

 

[graci117]

I also have great results on /ES and /NQ on a 1 minute chart using TS_Analysis_v9. I changed the ATR to 1.2 and ATRPeriod to 50. I also added the ADX filter to the AddOrder so I don't open trades in a chop. However I can only either do buy or sell at a time if I do both it messes it up completely. Both Buy and sell yield very good results. Is there a way to add both at the same time without the BUY_AUTO and SELL_AUTO??

input length = 14;
input ADXAvgType = AverageType.WILDERS;

def ADX = DMI(length, ADXAvgType).ADX;


def TrailingStop = trail;
def LongEnter = (price > TrailingStop );
def LongExit = (price < TrailingStop );

AddOrder(OrderType.BUY_TO_OPEN, condition = LongEnter and ADX >22 , price = open[-1], 1, tickcolor = GetColor(1), arrowcolor = Color.LIME);
AddOrder(OrderType.SELL_TO_CLOSE, condition = LongExit or close < EntryPrice() - 2.5, price = open[-1], 1, tickcolor = GetColor(2), arrowcolor = Color.LIME);

Hi @Christopher84 I tried to get the 2 C3_Max_V2 strategies with default settings and tried on /ES 5 and 10 minutes chart. Floating P/L shows big losses on both LE_SE and LE_LX. Are there any settings that need to be modified?

 

[HODL-Lay-HE-hoo!]

@Christopher84 - Hello my good man... I am in need of enlightenment. I would seem I do not fully understand the code which seems to be holding me back from creating a plot or two which simply put would occur when x and y plots occur within x # of bars plot an arrow.

The screenshot attached shows yellow horizontal arrows pointing at the triple exhaustion indication and the magenta horizontal arrows pointing at the Spark arrows... When triple exhaustion occurs followed by Spark it would seem to improve the odds of price going in one direction or the other and a move significant move in that direction.

Added a question or two in the partial code below if you can help... Thanks

### Triple Exhaustion partial code

def sellerRegular = SlowK_3x < 20 and MACD_stdev_3x < -1 and dPlus_3x < 15;

### I believe the line below is telling me if sellerregular is true on the previous bar and not on the current bar then plot RegularBuy ###

plot RegularBuy = if sellerRegular[1] and !sellerRegular then low else Double.NaN;

### My screen show will show a dot and an arrow for triple exhaustion - the dot is "regular" and the arrow is "Extreme" i have tried to eliminate the need for two indications plotting at the same time then they are both true but cannot seem to make it work?... I suppose i will need to reference the bar number somehow, but my brain is melting.

RegularBuy.SetPaintingStrategy((PaintingStrategy.ARROW_UP));



### Spark Code

plot SparkUP = (Spark == 3) and (CandleColor == 1);

SparkUP.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);

SparkUP.AssignValueColor(Color.LIGHT_GREEN);