Confirmation Candles Indicator For ThinkorSwim

[HODL-Lay-HE-hoo!]

Hey good people... messing with them gridsley bears again... This one I was attempting to make a little less busy with easily visible signals... that being said I am not so sure I accomplished that haha. However... It is the C3_Max_Spark C3_MF_Line and Triple_Exhaustion_MTF (four aggregations) have not used it in live market) (I turned off the C3 Max clouds and set all the supply demand lines transparency at 85%)(have not adjusted the TS_V9 or turned off redundant buy sell volume labels yet)

The real reason for this post is the following:

I never actually paid any attention to this until now... Notice the Near Term levels (From the "Confirmation Candles" study) dashed green, gray, & red lines following the price around) the color of the lines represent the price action

• During a temporary pullback the lines are still green
• When the top and bottom lines are the same color the trend is confirmed
• On the higher (10-15min) timeframes the lines turn gray for a bar or so then change color - the gray bar is a good time to expect reversal

Also, I realized that if using a grid (or not) it is worthwhile to change the EMA length for the "Spark" calculation (specifically changes where the arrows plot) "Average 8" "Average 9" I changed them to 8 and 28 (I need to adjust them for each timeframe but in the following screenshots they are all using the same settings) then I changed the "Near_Term_Levels" displace setting ((***in hindsight this was pointless as the real time benifits of these lines painting essentially void - I have since changed them back to default)) which adjusts how soon you see the colors change (dashed lines)

Updated Sharable link https://tos.mx/z5i5HDg
***Changed label settings and TS_V9 settings for each TF most are pretty good so far
***Changed a few of the charts average 8 and 9
***New Screenshot after changes:

You will see multiple grey dashed lines in the following screenshot - indicating choppy price action:

TSV9 and Spark indicating watch for short entry - notice the 10min ATR levels are both red for a safe short entry (also notice the C3 green lines get shorter and shorter between the red lines this is also a good indication of a coming reversal):

Near perfect long entry:

 

[lolreconlol]

Hey good people... messing with them gridsley bears again... This one I was attempting to make a little less busy with easily visible signals... that being said I am not so sure I accomplished that haha. However... It is the C3_Max_Spark C3_MF_Line and Triple_Exhaustion_MTF (four aggregations) have not used it in live market) (I turned of the C3 Max clouds and set all the supply demand lines transparency at 85%)(have not adjusted the TS_V9 or turned off redundant buy sell volume labels yet)

The real reason for this post is the following:

I never actually paid any attention to this until now... Notice the Near Term levels (From the "Confirmation Candles" study) dashed green, gray, & red lines following the price around) the color of the lines represent the price action

• During a temporary pullback the lines are still green
• When the top and bottom lines are the same color the trend is confirmed
• On the higher (10-15min) timeframes the lines turn gray for a bar or so then change color - the gray bar is a good time to expect reversal

Also, I realized that if using a grid (or not) it is worthwhile to change the EMA length for the "Spark" calculation (specifically changes where the arrows plot) "Average 8" "Average 9" I changed them to 8 and 28 (I need to adjust them for each timeframe but in the following screenshots they are all using the same settings) then I changed the "Near_Term_Levels" displace setting which adjusts how soon you see the colors change (dashed lines)

Sharable link https://tos.mx/Ura48EC

You will see multiple grey dashed lines in the following screenshot - indicating choppy price action:

TSV9 and Spark indicating watch for short entry - notice the 10min ATR levels are both red for a safe short entry (also notice the C3 green lines get shorter and shorter between the red lines this is also a good indication of a coming reversal):

Near perfect long entry:

I think this would cause my old MacBook Air to explode

 

[HODL-Lay-HE-hoo!]

I think this would cause my old MacBook Air to explode

Yeah man you need a Thinkpad to run ThinkOrSwim Thinkscript home boy!

 

[HODL-Lay-HE-hoo!]

Hey yo @Christopher84 !

How would one go about adding displacement to the C3 line as a whole … as in just shifting it to the left or right? I was attempting to see how completely useless it would be to add multiple C3 (non mtf) lines with different aggregations on a single chart. So far I attempted to add “[-displace_C3]” similar to the pld code… (with an input of course) which did not work.

Care to enlighten me?

What do I add to the line:

Plot C3_MF_Line = (MAMA + FAMA)/2;

In order to shift it over to the left or right?

 

[METAL]

Hey yo @Christopher84 !

How would one go about adding displacement to the C3 line as a whole … as in just shifting it to the left or right? I was attempting to see how completely useless it would be to add multiple C3 (non mtf) lines with different aggregations on a single chart. So far I attempted to add “[-displace_C3]” similar to the pld code… (with an input of course) which did not work.

Care to enlighten me?

What do I add to the line:

Plot C3_MF_Line = (MAMA + FAMA)/2;

In order to shift it over to the left or right?

It's easy. Just drag your chart right or left.

 

[HODL-Lay-HE-hoo!]

It's easy. Just drag your chart right or left.

Haha… how dare you.

 

[METAL]

Haha… how dare you.

On a serious note, have you ever attempted to trade based off of the 5 and 10 min TF and just let it ride until the next indicator to get out? I have been looking at how good in most cases a trade would be to just do that. I trade options and usually get out with profit but way too soon. That is my M.O. I have also noticed the hama strat used on the 5 min and 10 min for confirmation is extremely accurate.

 

[HODL-Lay-HE-hoo!]

On a serious note, have you ever attempted to trade based off of the 5 and 10 min TF and just let it ride until the next indicator to get out? I have been looking at how good in most cases a trade would be to just do that. I trade options and usually get out with profit but way too soon. That is my M.O. I have also noticed the hama strat used on the 5 min and 10 min for confirmation is extremely accurate.

Oh yeah the Hama strat… S***KS! how DARE you even mention that name on this thread! Joking people geez! Until I started messing with the grids recently I would trade the 1/3/5/15 mostly but switching between them without a grid.

Exiting too soon is a good problem to have trust me. It took me way too long to learn when to sell. It generally doesn’t make sense to hold a close to expiration contract for a the hopes of a few more dollars especially considering the powers that be will run the price sideways to decay most of the extra % you were hoping for anyway. But sure you would make a better return but generally the risk outweighs the reward. I only hold onto contracts if I bought a couple and sold all but one or two to let them ride.

For that reason I have been entertaining the idea of not watching the underlying at all for something like near the money close to expiration SPY and TSLA contracts and watching only the contract chart itself… although some contract charts tend to be odd using indicators depending on the amount of volume etc. so I assume it would be more beneficial to just have the call and put in a chart of their own beside the underlying.

Anyway it’s always better to manage your risk than go for bigger returns. I would say your next step to take advantage of a larger move would be to work on entering the trade on a pullback or just work on better entries (which does not mean buying the absolute bottom) then set your stoploss when/where you would normally sell. And or setup your default order to create the opposite order automatically with varying profit targets and an auto stop loss… if you trust your stop and keep moving it up you won’t get scared into selling too soon. I am assuming that is possible as I have not set it up myself yet but it is definitely something I am looking into.

Figuring out an indicator to watch or when and what contract to buy to make x return is easy… having the discipline to sell at the right time is not. So it sounds like you have to hardest part figured out. As you watch your indicators long enough and figure out the setups you prefer you will be more confident at which point you can take on more risk.

If I am buying zero DTE for some stupid reason… under no circumstances will I hold it when price start to pullback or go sideways. If I’m up I’m out.

If the contract is further out (for a multi day hold) I will buy one contract (for example) assuming I didn’t nail it at the perfect time then average into not average down… average into the trade. If you do this you need to be within a strike or two of the ATM contract and you need to set a stop so if the underlying does not change directions or follow through in the direction I thought it would I will let the contracts go for a loss when price crosses $X. (Do not

Then there are the overnight hold / sell at open contract plays… buy ATM or a strike out and cut it loose right after open (within reason) no matter what. These are very small plays for me and if IV is really high and it may move past the expected move then I might buy the ATM call and put closest expiration and cut them loose after open… and depending on the expiration and trend maybe hold the one on the correct side of the trade.

Anyway took a slight detour there.
Good day.

 

[HODL-Lay-HE-hoo!]

Sorry @METAL I get a little sensitive about people using expletives… such as the name of other indicators…

 

[dkbyond]

Hi. Is it possible to convert the TS_V9 strategy to study. I had downloaded the TS_V9 strategy form this thread. Thanks.

 

[HODL-Lay-HE-hoo!]

Hi. Is it possible to convert the TS_V9 strategy to study. I had downloaded the TS_V9 strategy form this thread. Thanks.

Here you go. http://tos.mx/4gj8rN5

 

[Christopher84]

Hey Chris, I found out it was coming and going on the same candle. My mistake. Once the candle finishes, it does not repaint. Also, I just figured out that I am supposed to tweak the settings on your strategies in order to get the best possible profit for that stock and even that day. With that said, Do you have a basic set of rules for your strategies that you use to help speed up the figuring out process? For instance: Using you Scalper V3, How do you typically set up the Lengths and the price for AAPL versus ES. Also, Do you focus on the Winners% as a main guide?

Hi @METAL,
When trying to assess my strategy's performance the "Winners:%" is certainly a big consideration. However, I also look at the "MaxUp;" and "MaxDown" in conjunction with the FloatingPL study. It can give a tremendous amount of insight to the stability of a strategy and its ease of trade.
This can be a bit of a process to figure out at first, but you will get better and faster at it the more you do it. Also, if you trade a narrow range of assets it gets even easier since the settings tend to not need a lot of adjusting once you get them dialed in. Hope this helps!

 

[Christopher84]

Hey yo @Christopher84 !

How would one go about adding displacement to the C3 line as a whole … as in just shifting it to the left or right? I was attempting to see how completely useless it would be to add multiple C3 (non mtf) lines with different aggregations on a single chart. So far I attempted to add “[-displace_C3]” similar to the pld code… (with an input of course) which did not work.

Care to enlighten me?

What do I add to the line:

Plot C3_MF_Line = (MAMA + FAMA)/2;

In order to shift it over to the left or right?

Hi @HODL-Lay-HE-hoo!
I just threw this together, but I think it is what you were hoping for. Use "displace3" in the settings to adjust the amount of displacement. Let me know what you think. Happy trading!https://tos.mx/1hIAtaV

 

[METAL]

Hi @METAL,
When trying to assess my strategy's performance the "Winners:%" is certainly a big consideration. However, I also look at the "MaxUp;" and "MaxDown" in conjunction with the FloatingPL study. It can give a tremendous amount of insight to the stability of a strategy and its ease of trade.
This can be a bit of a process to figure out at first, but you will get better and faster at it the more you do it. Also, if you trade a narrow range of assets it gets even easier since the settings tend to not need a lot of adjusting once you get them dialed in. Hope this helps!

Yes. This helps. Tank you.

 

[METAL]

@Christopher84 What would you say is the best 1 min strategy or study you have used?

 

[Christopher84]

@Christopher84 What would you say is the best 1 min strategy or study you have used?

Hi @METAL,
I generally steer clear of using 1 min charts (on their own) due to the heightened amount of trend noise and narrower opportunities for profitability. Typically when using a 1 min chart I will be utilizing MTF studies for better context of the trend and price movement. I also tend to use higher timeframe charts while trading lower timeframes to help ride my position out. I really like the Bull_Bear_Combo, C3_Max, TS_v9 can all be used on lower timeframes successfully.

 

[Admiral747]

Hey good people... messing with them gridsley bears again... This one I was attempting to make a little less busy with easily visible signals... that being said I am not so sure I accomplished that haha. However... It is the C3_Max_Spark C3_MF_Line and Triple_Exhaustion_MTF (four aggregations) have not used it in live market) (I turned off the C3 Max clouds and set all the supply demand lines transparency at 85%)(have not adjusted the TS_V9 or turned off redundant buy sell volume labels yet)

The real reason for this post is the following:

I never actually paid any attention to this until now... Notice the Near Term levels (From the "Confirmation Candles" study) dashed green, gray, & red lines following the price around) the color of the lines represent the price action

• During a temporary pullback the lines are still green
• When the top and bottom lines are the same color the trend is confirmed
• On the higher (10-15min) timeframes the lines turn gray for a bar or so then change color - the gray bar is a good time to expect reversal

Also, I realized that if using a grid (or not) it is worthwhile to change the EMA length for the "Spark" calculation (specifically changes where the arrows plot) "Average 8" "Average 9" I changed them to 8 and 28 (I need to adjust them for each timeframe but in the following screenshots they are all using the same settings) then I changed the "Near_Term_Levels" displace setting ((***in hindsight this was pointless as the real time benifits of these lines painting essentially void - I have since changed them back to default)) which adjusts how soon you see the colors change (dashed lines)

Updated Sharable link https://tos.mx/z5i5HDg
***Changed label settings and TS_V9 settings for each TF most are pretty good so far
***Changed a few of the charts average 8 and 9
***New Screenshot after changes:

You will see multiple grey dashed lines in the following screenshot - indicating choppy price action:

TSV9 and Spark indicating watch for short entry - notice the 10min ATR levels are both red for a safe short entry (also notice the C3 green lines get shorter and shorter between the red lines this is also a good indication of a coming reversal):

Near perfect long entry:

@HODL-Lay-HE-hoo!

Is this layout possible on the Daily. The candle colors change for some reason.​

 

[METAL]

Hi @METAL,
I generally steer clear of using 1 min charts (on their own) due to the heightened amount of trend noise and narrower opportunities for profitability. Typically when using a 1 min chart I will be utilizing MTF studies for better context of the trend and price movement. I also tend to use higher timeframe charts while trading lower timeframes to help ride my position out. I really like the Bull_Bear_Combo, C3_Max, TS_v9 can all be used on lower timeframes successfully.

I pretty much do the same. At the moment I use TS @15m C3Max @ 5min and I use a 1min for entry. I have been using the ScalperV3 on the 1 min and it works okay. Just repaint too many bars back sometimes. Thanks for your input.

 

[HODL-Lay-HE-hoo!]

@HODL-Lay-HE-hoo!

Is this layout possible on the Daily. The candle colors change for some reason.​

Let me change a few things for the daily.

 

[HODL-Lay-HE-hoo!]

Hi @HODL-Lay-HE-hoo!
I just threw this together, but I think it is what you were hoping for. Use "displace3" in the settings to adjust the amount of displacement. Let me know what you think. Happy trading!https://tos.mx/1hIAtaV

Thanks @Christopher84 Ill check it out!