@alexsmith3546 what are your settings on the clouds, please? I think Christopher84 did an excellent job with the cloud, especially when the trend is changing.
Not sure i follow sorry, are we talking about the MTF clouds here or the MacD BB indicator, if the MTF upper, here is what my settings look like ( I usually work on the 10 minute timeframe)
Got it, thank you. I setup what @s1111 had sent me and it seems to work well and i like the tweaks he has made to the bollinger band appearance (almost looks like a road) and i think looking at a few trades today, as long as the dots dont get on the road, i'll stay on the trade. Thats something I have struggled with and i am hoping this helps
Hi Kennilewinski,
I’ll check it out, thank you!
I hope you find these indicators as helpful and profitable as I have. It's a pain to read through a long thread but if you invest the time to do it, and watch the video on the first page, you will find that @Christopher84 has provided a wealth of helpful information.
I like my Bollinger band lol, Yes my kids say they look like a road. When you see a gray clouds in bands that's a squeeze . Zero line is very important.
Hi S1111,
Hi Easyman,
@easyman, you may find it beneficial to tinker with the settings on your MACD BB. There is an example of adjusted settings here. Took me quite a bit of fiddling to get it where I wanted for various timeframes. When the settings are right for the timeframe and the instrument, it pairs very well with the MTF cloud and consensus candles. Best wishes and happy trading!
Hide zero line ? no don't do it lol. You need zero line which turns green if dots above and red if dots are below the line .@s1111 thanks.... i was thrown off by the line... that said "Zero line is important" that's why i asked... and it looks like you are using the Dots .... that's my observation too... thanks... i am going to hide the Zero line
@traderrider i tried to fine tune based on that post but still the Zero line doesn't work (very late) ...but the DOTS with the original settings is much better. I got Consensus and this to align and can be used as double confirmation
Thanks all
MN
This is what I use. It's just a simple scan for crosses of the 10 period EMA. I use the "any" not the "all" criteria setting so that the scan produces results for both sides of the cloud. This scan gives results for a candle that closed above the lower edge of the cloud or below the upper edge of the cloud. It also scans for candles that pierced the cloud regardless of where they closed (catches wicks that crossed into the cloud). This scan is for a 15-30 min cloud, but you can adapt it for your preferred cloud settings. Just make sure to scan for crosses below the shorter time frame (price dips down into the cloud) and crosses above the longer time frame (price breaks into the cloud from below).
Hi @alexsmith3546,
#Keltner_STARC_WL and Scan
#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);
def Avg = average[-displace];
#Avg.SetDefaultColor(GetColor(1));
plot Upper_BandK = average[-displace] + shift[-displace];
Upper_BandK.SetDefaultColor(GetColor(8));
plot Lower_BandK = average[-displace] - shift[-displace];
Lower_BandK.SetDefaultColor(GetColor(5));
#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);
plot Upper_BandS = val[-displace] + multiplier_factor * average_true_range[-displace];
Upper_BandS.SetDefaultColor(GetColor(0));
plot Lower_BandS = val[-displace] - multiplier_factor * average_true_range[-displace];
Lower_BandS.SetDefaultColor(GetColor(0));#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);Happy to help @Trader Raider!
@Trader Raider Any chance you can share your chart. Thanks.@toMatto, you're very welcome. Here's a trade I took this morning. It shows how well the MACD_BB (I took the dots off) plays with Christopher's indicators. The yellow line is just a markup of my logic for my journal. Since you trade stocks more than I do, I'd be curious to hear any insights you have as you use Christopher's indicators. Thanks in advance
Join useThinkScript to post your question to a community of 21,000+ developers and traders.
useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.
We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.
If you are new, or just looking for guidance, here are some helpful links to get you started.