Confirmation Candles Indicator For ThinkorSwim

[tomsey]

@tomsey

Here is EMA Stacked

def stackedUp = MovAvgExponential("length" = 9)."AvgExp" is greater than MovAvgExponential("length" = 21)."AvgExp"
and MovAvgExponential("length" = 21)."AvgExp" is greater than MovAvgExponential("length" = 34)."AvgExp"
and MovAvgExponential("length" = 34)."AvgExp" is greater than MovAvgExponential("length" = 50)."AvgExp"
and MovAvgExponential("length" = 75)."AvgExp" is greater than MovAvgExponential("length" = 100)."AvgExp";


def stackedDn = MovAvgExponential("length" = 9)."AvgExp" is less than MovAvgExponential("length" = 21)."AvgExp"
and MovAvgExponential("length" = 21)."AvgExp" is less than MovAvgExponential("length" = 34)."AvgExp"
and MovAvgExponential("length" = 34)."AvgExp" is less than MovAvgExponential("length" = 50)."AvgExp"
and MovAvgExponential("length" = 75)."AvgExp" is less than MovAvgExponential("length" = 100)."AvgExp";


AddLabel(yes, " EMA 9-100 Stacked ", if stackedUp then Color.GREEN else if stackedDn then Color.RED else Color.GRAY);

Thank you very much!!!!

 

[s1111]

Thank you very much!!!!

No Worries , happy trading.

 

[alexsmith3546]

@tomsey

Here is EMA Stacked

def stackedUp = MovAvgExponential("length" = 9)."AvgExp" is greater than MovAvgExponential("length" = 21)."AvgExp"
and MovAvgExponential("length" = 21)."AvgExp" is greater than MovAvgExponential("length" = 34)."AvgExp"
and MovAvgExponential("length" = 34)."AvgExp" is greater than MovAvgExponential("length" = 50)."AvgExp"
and MovAvgExponential("length" = 75)."AvgExp" is greater than MovAvgExponential("length" = 100)."AvgExp";


def stackedDn = MovAvgExponential("length" = 9)."AvgExp" is less than MovAvgExponential("length" = 21)."AvgExp"
and MovAvgExponential("length" = 21)."AvgExp" is less than MovAvgExponential("length" = 34)."AvgExp"
and MovAvgExponential("length" = 34)."AvgExp" is less than MovAvgExponential("length" = 50)."AvgExp"
and MovAvgExponential("length" = 75)."AvgExp" is less than MovAvgExponential("length" = 100)."AvgExp";


AddLabel(yes, " EMA 9-100 Stacked ", if stackedUp then Color.GREEN else if stackedDn then Color.RED else Color.GRAY);

Can you explain how you use this?

 

[s1111]

Can you explain how you use this?

Hi. If 9-100 ema is stacked which means the price is above all ema then the label will turn "GREEN" uptrend. When the price is below 9-100 ema label will turn "RED" meaning the market is in a downtrend. Grey is neutral meaning no trend. Hope this answer your question. GL

 

[ReeseRiviera]

@Christopher84, your MTF clouds on 5 and 15 min charts nailed a perfect entry just after 9am. Both profit targets were taken out shortly after the open. What you've created with your candles and clouds is just awesome! Thank you again for sharing.

https://imgur.com/a/UtZ3bHU

That's a great setup, would you mind sharing?

 

[Trader Raider]

Here is EMA Stacked

Hey, s1111. Thanks for sharing the code on those two labels. I wasn't sure where I got the code so was reluctant to share. Now my practice is to comment out the URL where I get stuff. Makes it a lot easier! Anyway, thanks again.

 

[s1111]

Hey, s1111. Thanks for sharing the code on those two labels. I wasn't sure where I got the code so was reluctant to share. Now my practice is to comment out the URL where I get stuff. Makes it a lot easier! Anyway, thanks again.

Anytime . Yes been there many times where I can't find the post lol . This website is wealth of information and knowledge.

 

[Trader Raider]

That's a great setup, would you mind sharing?

@ReeseRiviera, sorry I don't share links to my grids. Here's a trade I took an hour ago that shows the indicators I'm using.***

https://imgur.com/a/MZHZhFo

1-Christopher's Consensus Candles v5
2-Trend label as above
3-Stacked EMA label as above
4-VWAP label and plot here (the gray dashed line is VWAP)
5-Christopher's MTA cloud (30-60 min) on upper chart
6-MACD_BB (dots turned off)
7-Christopher's MTA cloud on lower chart (1 hour - 4 hours)
8- RSM MTF labels (not shown here) are always plotted on my grids or in a sidebar chart.

Hope that helps. Happy Trading!

***Not a trade recommendation! I took the trade because price and VWAP on the 15 min chart crossed below the 30-60 min cloud and I wanted that burst of momentum as price was coming out of a range. Price hit the first profit target but reached exhaustion without coming close to my 2nd target. I got into the trade late and an argument could be made that I was chasing. I just happened to spot the setup as I was doing chart prep on a different instrument. By all means copy my setup if you wish but please understand that my methods may not be appropriate for your risk tolerance or your reading of the price action. Therefore my indicator settings may not be suitable for other traders. It's important to find what works for you.

 

[ReeseRiviera]

@ReeseRiviera, sorry I don't share links to my grids. Here's a trade I took an hour ago that shows the indicators I'm using.***

https://imgur.com/a/MZHZhFo

1-Christopher's Consensus Candles v5
2-Trend label as above
3-Stacked EMA label as above
4-VWAP label and plot here (the gray dashed line is VWAP)
5-Christopher's MTA cloud (30-60 min) on upper chart
6-MACD_BB (dots turned off)
7-Christopher's MTA cloud on lower chart (1 hour - 4 hours)
8- RSM MTF labels (not shown here) are always plotted on my grids or in a sidebar chart.

Hope that helps. Happy Trading!

***Not a trade recommendation! I took the trade because price and VWAP on the 15 min chart crossed below the 30-60 min cloud and I wanted that burst of momentum as price was coming out of a range. Price hit the first profit target but reached exhaustion without coming close to my 2nd target. I got into the trade late and an argument could be made that I was chasing. I just happened to spot the setup as I was doing chart prep on a different instrument. By all means copy my setup if you wish but please understand that my methods may not be appropriate for your risk tolerance or your reading of the price action. Therefore my indicator settings may not be suitable for other traders. It's important to find what works for you.

Ok thanks. Was just wondering what they were. Thanks for listing

 

[alexsmith3546]

Hi. If 9-100 ema is stacked which means the price is above all ema then the label will turn "GREEN" uptrend. When the price is below 9-100 ema label will turn "RED" meaning the market is in a downtrend. Grey is neutral meaning no trend. Hope this answer your question. GL

Thank you and apologies for the late response, I havent been on the site much.

 

[Trader Raider]

Christopher's clouds and candles strike again! On both the MNQ and MYM, price consolidated this morning, then dipped below the clouds hitting profit targets. Folks are probably tired of my pics, so I won't waste space posting them. At first, I was trading MTF clouds and confirmation candles on 5 min charts. The results were great, but when I switched to consensus candles and MTF clouds on 15 min charts, it was easier to find sweet spots for grabbing measured moves with fib targets.

Best wishes, happy trading, and happy weekend! And much gratitude to Christopher for sharing these indicators!

 

[DarthVaider]

This community is amazing!

 

[s1111]

Thank you and apologies for the late response, I havent been on the site much.

No worries, hope you get much success

 

[bahtwo]

Christopher's clouds and candles strike again! On both the MNQ and MYM, price consolidated this morning, then dipped below the clouds hitting profit targets. Folks are probably tired of my pics, so I won't waste space posting them. At first, I was trading MTF clouds and confirmation candles on 5 min charts. The results were great, but when I switched to consensus candles and MTF clouds on 15 min charts, it was easier to find sweet spots for grabbing measured moves with fib targets.

Best wishes, happy trading, and happy weekend! And much gratitude to Christopher for sharing these indicators!

Trader Raider,

I can only speak for myself. But, pictures are a wealth of information and I learn from them. I sure hope that you post pictures of this trade you took and in the future also. Thanks for sharing your trades to this community. Take care.

 

[Christopher84]

Christopher's clouds and candles strike again! On both the MNQ and MYM, price consolidated this morning, then dipped below the clouds hitting profit targets. Folks are probably tired of my pics, so I won't waste space posting them. At first, I was trading MTF clouds and confirmation candles on 5 min charts. The results were great, but when I switched to consensus candles and MTF clouds on 15 min charts, it was easier to find sweet spots for grabbing measured moves with fib targets.

Best wishes, happy trading, and happy weekend! And much gratitude to Christopher for sharing these indicators!

Hi Trader Raider!
I would like to second bahtwo's sentiment on this. Your example trades have been beneficial to many of the members. They give a tremendous amount of insight on how the indicators are being utilized. Never feel like it's a waste to share your screenshots. Thank you for all of your contributions!

 

[Jonas99]

Christopher's clouds and candles strike again! On both the MNQ and MYM, price consolidated this morning, then dipped below the clouds hitting profit targets. Folks are probably tired of my pics, so I won't waste space posting them. At first, I was trading MTF clouds and confirmation candles on 5 min charts. The results were great, but when I switched to consensus candles and MTF clouds on 15 min charts, it was easier to find sweet spots for grabbing measured moves with fib targets.

Best wishes, happy trading, and happy weekend! And much gratitude to Christopher for sharing these indicators!

can you post them?

 

[Trader Raider]

can you post them?

Below are screenshots from Friday morning. My trade plan calls for reduced risk on Fridays, therefore I was watching the micros only. While drawing a short fib sequence from the overnight high to low on the MNQ, I saw that price was unable to regain more than half the ground it had lost. I entered short on the 3rd rejection of the 50% fib (the blue line) at 6am. Profit targets were the green lines.

https://imgur.com/a/JiBk1gy

Christopher's candles and MTF cloud helped time my entry because they showed:

1- Consolidation had ended (his squeeze often heralds a big move)
2- Consensus factors were weighted in favor of a short
3- A decisive parabolic move through the MTF cloud (15-30 min) at 6am as price was rejecting the 50% fib again

Also, the MACD_BB was finally below zero on the 3rd rejection, which was another clue that it was time to get in.

https://imgur.com/a/jFHubMu

You may notice that price went my way at first, then retraced to the 38% fib. That happens a lot but it can still spook me out of a trade. Christopher's indicators helped me stay in because candles were still painting red, edge lines on the cloud were painting red, and consensus was still weighted toward a short. Also, price was closing below VWAP (the gray dotted line). After price tagged the 38 a few times but couldn't close above it, it broke down and hit targets.

The MYM had a similar period of consolidation and price action.

https://imgur.com/a/EuxDJGR

Hope these pics help. Best wishes and happy trading this week, everyone!

 

[Jonas99]

Below are screenshots from Friday morning. My trade plan calls for reduced risk on Fridays, therefore I was watching the micros only. While drawing a short fib sequence from the overnight high to low on the MNQ, I saw that price was unable to regain more than half the ground it had lost. I entered short on the 3rd rejection of the 50% fib (the blue line) at 6am. Profit targets were the green lines.

https://imgur.com/a/JiBk1gy

Christopher's candles and MTF cloud helped time my entry because they showed:

1- Consolidation had ended (his squeeze often heralds a big move)
2- Consensus factors were weighted in favor of a short
3- A decisive parabolic move through the MTF cloud (15-30 min) at 6am as price was rejecting the 50% fib again

Also, the MACD_BB was finally below zero on the 3rd rejection, which was another clue that it was time to get in.

https://imgur.com/a/jFHubMu

You may notice that price went my way at first, then retraced to the 38% fib. That happens a lot but it can still spook me out of a trade. Christopher's indicators helped me stay in because candles were still painting red, edge lines on the cloud were painting red, and consensus was still weighted toward a short. Also, price was closing below VWAP (the gray dotted line). After price tagged the 38 a few times but couldn't close above it, it broke down and hit targets.

The MYM had a similar period of consolidation and price action.

https://imgur.com/a/EuxDJGR

Hope these pics help. Best wishes and happy trading this week, everyone!

great caption, thank you.

 

[tjlizwelicha]

not sure if you will find this valuable but in your cloud watchlist column, the avg number wasn't meaning much to me, so i removed it and in its stead placed a counter for the number of periods the green or red state has been ongoing, if any. i have an exceedingly hard time seeing the clouds on the chart itself, especially when the cloud is but one or two periods old (especially one, of course), so having its age along with the color on the watchlist column is a boon, imho. anyway, i think i've got it coded right but perhaps one of my betters could confirm.

p.s. if'n you can't tell, i have an aversion to cap letters (made worse by an odd case of arthritis) hence my addition below doesn't use them, and it doesn't seem to make a diff.

#Keltner_STARC_WL

#Keltner
declare weak_volume_dependency;
input displace = 0;
input factor = 3.25;
input length = 20;
input price = close;
input averageType = AverageType.SIMPLE;
input trueRangeAverageType = AverageType.SIMPLE;

def shift = factor * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), length);
def average = MovingAverage(averageType, price, length);

plot Avg = average[-displace];

def Upper_BandK = average[-displace] + shift[-displace];
def Lower_BandK = average[-displace] - shift[-displace];

#STARC
input ATR_length = 15;
input SMA_length = 6;
input multiplier_factor = 1.25;

def val = Average(price, sma_length);
def average_true_range = Average(TrueRange(high, close, low), length = atr_length);
def Upper_BandS = val[-displace] + multiplier_factor * average_true_range[-displace];
def Lower_BandS = val[-displace] - multiplier_factor * average_true_range[-displace];

def UP = Lower_BandS < Lower_BandK;
def DOWN = Upper_BandS > Upper_BandK;

AssignBackgroundColor(if DOWN then color.LIGHT_RED else if UP then color.dark_green else color.black);

def upcounter = if up then upcounter[1] + 1 else if !up then 0 else upcounter[1];
def downcounter = if down then downcounter[1] + 1 else if !down then 0 else downcounter[1];

addlabel (yes, if up then "" + upcounter else "" + downcounter);

Thank you. What time frame do you use for your watchlist? What does the 1, 2,3 represent?

 

[floydddd]

it's just a counter for the number of periods that the condition is either green or red. i'm using daily, so it reflects the number of days.