Confirmation Candles Indicator For ThinkorSwim

[HODL-Lay-HE-hoo!]

@Christopher84 This looks very interesting. Is there a way to scan for Cyan arrows ?

Yes there is a TS_V9 scan. You may be able to just copy and paste the code from the watchlist column into the scanner. But I know there is a link to one floating around here.

 

[Drmoh1800]

Hi Everyone!
Just wanted to take a minute and share this 2 min chart utilizing Bull_Bear_Combo and TS_v9 (adjusted settings for the 2 min chart). Currently this strategy has 57% Winners. https://tos.mx/Yb4ajVS Happy trading everyone!

somthing wrong red candle is turning to grey

 

[lolreconlol]

@Christopher84 , Take a look at todays SPY on the 2 min. Not good results at all. What do you think needs adjusting if at all?

Agreed.. would've gotten chopped up.

 

[rfb]

@Christopher84 , Take a look at todays SPY on the 2 min. Not good results at all. What do you think needs adjusting if at all?

Won't speak for C84, but from the look of it you may want to adjust the settings in the TS Analysis ATR Period and ATR Factor. They'll most likely be considerably different for trading SPY.

 

[bradolson]

Hi Everyone!
Just wanted to take a minute and share this 2 min chart utilizing Bull_Bear_Combo and TS_v9 (adjusted settings for the 2 min chart). Currently this strategy has 57% Winners. https://tos.mx/Yb4ajVS Happy trading everyone!

Hi @Christopher84, thank you for sharing your latest strategy. Any thoughts on why my image below has gray candles and no red candles for yesterday? I used your link from yesterday to load the set. Under the "Futures" tab, Extended Hours is not checked and I get gray candles whether or not "Start aggregations at Market Open" is checked. I'm assuming I must have some other setting not quite right.

I appreciate any help. Thanks again!

 

[HODL-Lay-HE-hoo!]

Hi @Christopher84, thank you for sharing your latest strategy. Any thoughts on why my image below has gray candles and no red candles for yesterday? I used your link from yesterday to load the set. Under the "Futures" tab, Extended Hours is not checked and I get gray candles whether or not "Start aggregations at Market Open" is checked. I'm assuming I must have some other setting not quite right.

I appreciate any help. Thanks again!

The strategy probably doesn’t begin until that time so candles are gray or bc it’s not in a trade

 

[bradolson]

The strategy probably doesn’t begin until that time so candles are gray or bc it’s not in a trade

It's working now. Thanks!

 

[donbashk]

try “trade daytime only”

I changed the ATR Period to 11 and ATR Factor 2.1 SPY and today SPY was great:

 

[donbashk]

Has anyone tested this TS 2 min< If so, please share the results as well as the settings that you used. Thanks

Yes I tested this in live market on SPY yesterday and today, the performance on 2 min chart was superb and for the settings I changed ATR Period to 11 and ATR Factor 2.1. Also going back in time for past 30 days was spot on accurate. Many thanks to @Christopher84 , great work, as always very much appreciated.

 

[itsmebob]

@Christopher84 , Take a look at todays SPY on the 2 min. Not good results at all. What do you think needs adjusting if at all?

Can you share this chart setup bro? Really looks interesting and id love to try it out. Appreciate you.

 

[lolreconlol]

@Trader Raider are you still using the scalper setup? Have you made any adjustments?

 

[Drmoh1800]

I have question the way how confirmations works does it count conditions in order or randomly when its true

 

[Malph]

Edited

The following are indications one will notice overtime using the various indicators in this thread. It is not a rules based system.

If you have trouble understanding all the various indicators THEN JUST GIVE UP! Joking people! Just a joke! But seriously if that is the case and you like to trade short term 1-3min charts just focus on the Bull Bear V5 candles and watch the other indications until you understand them. (You could turn everything off except for Bull Bear V5 candles and Spark Up/Down arrows on only and do well ((I would also add triple exhaustion))

* End edit *

This is generally my method (note: I use a watchlist column for high relative volume with only high liquidity tickers like AAPL TSLA SPY etc):

1. Determine the direction of the hourly trend (before market open) using one or more of the following indications:
A. C3 MF Line color
B. Spark Up / Down arrow
C. EMAD EMA color
D. PLD crossover
E. Price wrapping

- Trending up - take long trades only
- Trending down - take short trades only

** Exceptions to step 1 **

• Triple Exhaustion indication (dots)
• Significant levels (supply or demand zone with yellow or light green line inside the cloud of respective zone)if a supply zone with a yellow line inside the zone is acting as support in a bullish trend then the zone moves up and is now used as resistance —> wait for a breakdown or up from this level as it may go sideways at said level

Note
If your using one of the hourly indications that signal the trend change later than the others then be patient and wait for a good entry… if using an indication that alerts trend change rather quickly that goes against the slower indicator (like the upper EMA cloud) that is fine just know that it will likely be a short lived pullback as opposed to a full trend reversal.


2. Determine wether or not the 1Min - 3Min chart agrees with the hourly trend direction (look at both timeframes)

- If the hourly is bearish I’m waiting for a move in the opposite direction to reject the supply zone or for Triple Exhaustion indication and/or bull bear V5 candles turn from green to red to buy puts (make sure you do not trade opposite a zone that is wrapping)

- If the hourly is bearish and 1/3min trends agree I will buy puts if one or more of the following is true:

A. Candles wrapping at open
B. Major zone rejection premarket (near open)
C. PLD crossover reject before open (wicks)
D. Bull bear V5 candles red
E. C3 Line red

3. Exit trade when one of the following occurs:

- Triple Exhaustion indication (usually good to use as a “risk off” point (bought 5 contracts sell 4 let one ride if the trend is not broken)
- Supply / Demand zone moving horizontal (or hold until candle breaks out of the zone)
- Candles move above a zone (depending on price action)
- If price is moving towards a significant zone (zone with yellow or light green line inside) I will expect a bounce and risk off accordingly also if the lower line of the EMAD is stepping up while price is going down I will expect a bounce

** The triple exhaustion in particular shines on strong price action for high liquidity underlyings like TSLA NVDA etc. also I look for the indication on other timeframes as well but works best used on the 1-3min I find **

Test first trade later.

https://imgur.com/lnAD0dk

https://imgur.com/Mu5p6KU

Where may I find the script used in the screenshots provided? Thank you.

 

[HODL-Lay-HE-hoo!]

Where may I find the script used in the screenshots provided? Thank you.

I believe I shared the “C3_Max_Spark_Mobile” a few pages back… you can also search my name and see my posts. I will look for it when I get around my computer.

 

[Malph]

I believe I shared the “C3_Max_Spark_Mobile” a few pages back… you can also search my name and see my posts. I will look for it when I get around my computer.

Found it. Thank you.

 

[HODL-Lay-HE-hoo!]

To whom it may concern...

The following shows entry/exit methods and some of the ways to use the EMAD lower concerning divergence among others. Each entry has three arrows as explained in the notes on the left of side of the chart

http://tos.mx/xDW1Nic

 

[lolreconlol]

The strategy works flawlessly… however I am not an emotionless robot so I still make mistakes. My mistakes are looking at too many things at once and trying to predict a breakdown in a bullish trend instead of just trading the same direction as the trend. For example just because candles enter the supply zone doesn’t mean you buy puts as it could just be consolidating inside that zone then breakout above it. Doesn’t matter what timeframe chart. You need to wait for candles to breakout of the zone then come back and test/reject the zone then enter the trade assuming the elhers moving average is near the crossover point… or the TS_V9 arrow is present etc. When trading using this setup make sure you make note of the price action if the price action is not all that strong or volatile then do not buy the first time you see spark arrows or even TS_V9 arrow because price will likely do just as I have shown on the screenshot. And other times the arrows will come after the breakout and test/rejection of a zone to confirm / signal entry.

When in doubt trust TS_V9 but you will need to consider how far you are from expiration and how far out of the money your strike is. If your 0-1-2DTE and out of the money and price action is slow and / or sideways you might as well cut the trade and re enter or you could just cut the trade as soon as it goes against you but it will save you a lot of heartache to just wait for confirmation and do not buy the first time candles breakout/breakdown from a zone.

Also notice premarket how the EMAs are green for a while then red for a few bars right at the open then green then right back to red (basically the same thing I pointed out in the screenshots just a different way of looking at it) that’s a dead giveaway that a pullback is coming. Another point about the EMAD is it makes those things easier to interpret at times as the EMAD EMAs broke below the zero line pulled back up and rejected at zero line.

But yes the system works like a charm when you follow it and don’t try to predict a breakout or breakdown just follow the trend. Also when the bull bear v5 candles / label says “Very Bullish” don’t trade against it… unless you are extremely disciplined at marking quick trades against the trend catching wicks or something.

And just to illustrate my point about my own trading I bought puts on coin when it was up 12% disregarding everything the chart was telling me… it went up 17% that day. Luckily it tanked the following day but I still took a good loss on it overall. Discipline to know when to cut winners or at least risk off and especially the discipline to cut losers quick is the key.

Hope that helps.

Thank you for the detailed post! Can you please share your latest chart?

 

[HODL-Lay-HE-hoo!]

The original link from my last post may have had a version of bull bear v5 without the 2 aggregations in settings... I updated the link with the correct Bull Bear V5 as the other will repaint http://tos.mx/VhX2cLH (*** UPDATED LINK.... AGAIN... I did not set the default settings correctly for the 2-3-4th spark length in the previous link)

 

[Sbollapa]

This is spot on and I am sure everyone can relate to all you have explained. What I need a little help with, is, getting Ts to be at its "best" in a 1m or 2m TF. Would love to see what steps you take to achieve that. I believe we need to adjust it daily/intraday adn with different stocks. It seems to take quite a long time to do this so I am wandering if I am doing it wrong.

what I understood in using TS is
1. decide the ticker & TF, say SPX/2min
2. play around with TS (ATR period/ATR factor) by adding floating PL
3. make a note of the labels like winners/ closed order/PL/avg per trade/Long profit/short profit.
4. take the ones which get the highest winner/closed order etc
5. For SPX, I found 83/3.3(atr) gave me best winners for 2min
above all is based on what chris mentioned in this group.

Note, not always the default settings works fine.. so tune it based on time (30/2min or 90/5min etc)

 

[HODL-Lay-HE-hoo!]

what I understood in using TS is
1. decide the ticker & TF, say SPX/2min
2. play around with TS (ATR period/ATR factor) by adding floating PL
3. make a note of the labels like winners/ closed order/PL/avg per trade/Long profit/short profit.
4. take the ones which get the highest winner/closed order etc
5. For SPX, I found 83/3.3(atr) gave me best winners for 2min
above all is based on what chris mentioned in this group.

Note, not always the default settings works fine.. so tune it based on time (30/2min or 90/5min etc)

Wow I have never tried those settings before... interesting. I change each number at random then look at where the arrows are plotting and the percent winners I have after hours on but disregard any TS indication after hours unless maybe it is right before open.