Confirmation Candles Indicator For ThinkorSwim

[floydddd]

thanks for all your hard work on this. a question for you and/or others. is anyone using this on daily charts and, if so, are you using default settings, and of course does it look viable on that longer time frame?

 

[HODL-Lay-HE-hoo!]

Here is the updated TS_V9 watchlist column (without filter as it is not possible in the watchlist column) I added "Last buy/sell" to show the most recent signal and the dark green and dark red "TS " are bars where the signal currently exists...

http://tos.mx/5On8Q8y

 

[HODL-Lay-HE-hoo!]

thanks for all your hard work on this. a question for you and/or others. is anyone using this on daily charts and, if so, are you using default settings, and of course does it look viable on that longer time frame?

No problem. This works wonders on the daily and the only setting that I will change is "trade daytime only" if it is off it will trade whatever you have on the chart - with it on it will only trade during the open and close time in settings.

These screenshots are the daily with max number of years and the wins% tells you all you need to know. seeing as SPY is up in the supply zone the safest bet (on any tf) is to wait for candles to exit the zone then pullback and if it rejects re-entering the zone thats the entry... if it re enters the zone you start the process over... or you just buy the signals also the green and red spark arrows work very well on the daily (they represent emas in the process of turning over. it would be a good idea to establish your own risk off targets but basically when candles are near a zone or a moving average = risk off... if the EMAD lower is near the top middle or bottom = risk off (use it the same way I explain in my previous screenshots)

 

[floydddd]

thanks so much for the speedy response. i will look deeper and ponder and prolly come back w/ questions. bueno!

 

[bkpshah]

HODL-Lay-HE-hoo @ I read two times this all thread I still I don't understand whole concept. Many people just like me non coder and they like usethinkscript. So can you post detail how is it work confirmation candle step by step because first we need to understand concept.what is the concept behind of indicator work.
Thank you.
We are happy here this indicator work 10000 % for you

 

[HODL-Lay-HE-hoo!]

HODL-Lay-HE-hoo @ I read two times this all thread I still I don't understand whole concept. Many people just like me non coder and they like usethinkscript. So can you post detail how is it work confirmation candle step by step because first we need to understand concept.what is the concept behind of indicator work.
Thank you.
We are happy here this indicator work 10000 % for you

I hear you and yes I will… are you using the most recent chart style shared on page 123? Or something else from this thread?

 

[ksgtrader]

I hear you and yes I will… are you using the most recent chart style shared on page 123? Or something else from this thread?

@HODL-Lay-HE-hoo! That would be great, I also want to understand the concept. I'm using the most recent shared on page 123. Here the chart link for your reference. https://tos.mx/VUxfoBv

 

[HODL-Lay-HE-hoo!]

@HODL-Lay-HE-hoo! That would be great, I also want to understand the concept. I'm using the most recent shared on page 123. Here the chart link for your reference. https://tos.mx/VUxfoBv

10-4… good man. I will post something in short order (though I am working nights for the moment so it may take a little longer than normal as I am not around my computer…

 

[ksgtrader]

10-4… good man. I will post something in short order (though I am working nights for the moment so it may take a little longer than normal as I am not around my computer…

Thanks. Here is what I changed for "trade for daytime only" Is this the right setting?

https://imgur.com/a/3jR36Zn

 

[yeswzc]

Hi, thanks for sharing! Do you mind to share your Chart with the most updated indicators you are using when you update? It would be much easier for people to get them.
Thank you again!

 

[HODL-Lay-HE-hoo!]

Thanks. Here is what I changed for "trade for daytime only" Is this the right setting?

https://imgur.com/a/3jR36Zn

That is correct. Now the strategy will use the open close times you entered.

 

[Jack_b]

HODL-Lay-HE-hoo! would you explain the wait for HL and LH? thanks so much. I get the rest, very detailed and useful thank you

 

[HODL-Lay-HE-hoo!]

HODL-Lay-HE-hoo! would you explain the wait for HL and LH? thanks so much. I get the rest, very detailed and useful thank you

Will do sir… working nights at the moment 7/12s so may be a little slow to respond

 

[Jack_b]

Will do sir… working nights at the moment 7/12s so may be a little slow to respond

ok I'm assuming HL is higher Low and LH is lower high yeah?

 

[phatboyz]

No problem. The TS_V9 as 3 aggregations but the first two ag signals are filtered so there’s not 6000 also if you have “trade daytime“ set to “yes” it will only show trades within the “open” “close” times in settings which is helpful come to find out.

complete different result Extended session on and the other is Off.

 

[HODL-Lay-HE-hoo!]

ok I'm assuming HL is higher Low and LH is lower high yeah?

Oh sorry, yes… side note divergence between the upper and lower does not necessarily need to exist but use price action and the EMAD EMA band width to help with that entry method as there tends to be multiple short lived “LH” “LL” - test before trade good sir.

 

[HODL-Lay-HE-hoo!]

complete different result Extended session on and the other is Off.

Yes, if you leave the setting “trade daytime only” - “off” then when AH is on you will have many more trades after hours. If you use AH on I would suggest “trade daytime only” - “on” then adjust the open time to right before open or right after open - when testing the wins percentage (which I really don’t care all that much about) I will set my chart to max number of days. Hope that helps.

 

[Jack_b]

Last thing what are the spark 2, spark 3... for? thanks much

 

[lolreconlol]

Too bad you can't really backtest this due to the repainting..

 

[lolreconlol]

Hod,
I would love to see some live trading with you setup if possible. Also, What do you use or see that stops you from use the false emad signals. I get a lot of bottoms that break up just to fake me out and visa versa.

SAME! Would love to see live trading or a video @HODL-Lay-HE-hoo!