Confirmation Candles Indicator for ThinkorSwim

Christopher84

Well-known member
VIP
@Christopher84 on the B4 lower indicator, is there a way to make a watchlist column that shows when the dotted line, the one that changes colors (green, gray, red), crosses above or below the green line of the band? That would be a great addition to this strategy. My buy indicators in the watchlist always show the stock has crossed above that line several bars before which is missing out on much of the move upward.
Hi @FreefallJM03,
I'm sorry but I do not have a WL code for the B4 system.
 

s1111

Active member
Hi @s1111,
I wouldn't use this version of the study. It has potential for repainting (probably the reason all the arrows look to be in the perfect spot). I removed that from the code to prevent any possibility of repainting.
Hi @Christopher84 . Thanks for getting back. That's too bad bro, I like the way it works. Hopefully, you can make this script work better. This morning I was looking at TSLA with your script, Spot on. I see potential, Keep up the good work!!
 

Christopher84

Well-known member
VIP
Hi @Christopher84 I'm wondering when load the XConfirmationLower it flattens out? I can manually adjust it but I'm having to do it every time. Thanks for the great scripts, they've truly helped me.


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Hi @Konger37,
It looks like you have something wrong in your settings. Do you possibly have to indicators active in the same lower study slot? Something is throwing your scale off. It should never look that way. Try taking off all other lower studies until you find the culprit.
 

Christopher84

Well-known member
VIP
Hi @Christopher84 . Thanks for getting back. That's too bad bro, I like the way it works. Hopefully, you can make this script work better. This morning I was looking at TSLA with your script, Spot on. I see potential, Keep up the good work!!
Hi @s1111,
It is an interesting script, unfortunately, there's no way of fixing that issue. ALL pivot studies are prone to repaint. That's why I opted ultimately to omit the study from C3. Thank you for the feedback!
 

irishgold

Member
@s1111 Like @Christopher84 said what you are seeing are the Pivot Arrows and why they point so "spot on" it is always revising what the low or the high was and so looking in hindsight it is spot on. Using multiple indications and looking for agreement is a better hint at what might happen but not guaranteed.
 

Miami51961

New member
VIP
Christopher84
I am really studying your indicator and think is a top-notch addition to this site. I do have a question. I ran your scanner from page 9 and do like the results, but my question is it better to wait for the cloud to turn green before looking at entry points. I guess this might depend on your risk tolerance. The signals look very promising.
miami553
 

diamondhands

New member
Hello , I have a question regarding MTF clouds, When we use it on lower timeframe, what is the best second aggregation to use? Is there a ratio or measure on what aggregations should be used ? For example i want to use it on 5 min TF
 

Christopher84

Well-known member
VIP
Christopher84
I am really studying your indicator and think is a top-notch addition to this site. I do have a question. I ran your scanner from page 9 and do like the results, but my question is it better to wait for the cloud to turn green before looking at entry points. I guess this might depend on your risk tolerance. The signals look very promising.
miami553
Hi @Miami51961,
You are correct. It would depend on your risk tolerance and rules for entering a trade. I personally will make an entry on a red cloud when both averages around the red cloud are green. I refer to this as a spark signal. I will only use this approach on assets that have strong long term performance (generally looking at the month chart to determine this). I hope that helps! Happy trading!
 

Christopher84

Well-known member
VIP
Hi @Miami51961,
The two lower studies you have on your chart will be different since they are measuring different things. The top one is showing Consensus Level and the lower one is the Super OB/OS indicator. In both instances the dashed lines are meant to serve as potential support and resistance levels as well as give a visual for when the main line is pulling away from resistance or support. I hope that helps!
 
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Miami51961

New member
VIP
Hi @Miami51961,
The two lower studies you have on your chart will be different since they are measuring different things. The top one is showing Consensus Level and the lower one is the Super OB/OS indicator. In both instances the dashed lines are meant to serve as potential support and resistance levels as well as give a visual for when the main line is pulling away from resistance or support. I hope that helps!
Thank You
 

Oleron

New member
Hi @Miami51961,
The two lower studies you have on your chart will be different since they are measuring different things. The top one is showing Consensus Level and the lower one is the Super OB/OS indicator. In both instances the dashed lines are meant to serve as potential support and resistance levels as well as give a visual for when the main line is pulling away from resistance or support. I hope that helps!

May I ask how you're using it?
 

inhouselr

New member
input price = close;
input SqueezeLengthPrice = 75;
plot IntermSupport = Lowest(price, SqueezeLengthPrice);
So like this:
Low <= Lowest(Close,75) you could add within x bars
Thanks for your help! I added it to my Scanner Custom Filter but I'm not able to include the condition within x bars.
JFJiSdM.png
 

FreefallJM03

Member
VIP
Is there anyway to run this script without the colored candles? When I run this on a chart it turns a candle that closes lower into a green filled candle rather than a red candle. I prefer having the same colors as the default. When I turn off the colored candles in the script, it still has them colored.
 

Christopher84

Well-known member
VIP
Is there anyway to run this script without the colored candles? When I run this on a chart it turns a candle that closes lower into a green filled candle rather than a red candle. I prefer having the same colors as the default. When I turn off the colored candles in the script, it still has them colored.
Make sure you don't have the study added multiple times in your study set.
 

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