Confirmation Candles Indicator For ThinkorSwim

[Trader Raider]

As always, I'll be looking forward to your feedback.

Your scalper saved me a chunk of money this morning. One of my algos on another platform kicked in, so I pulled up a scalper chart to watch the price action. When it showed a trend change, I closed the algo trade with a slight loss instead of a full stop out. Thank you!

Feedback: To my eye, the scalper with mobius trend pivots is a little cleaner layout than C3_Max support resistance boxes. Maybe my eye is just more used to it. I prefer the candle colors of the C3_Max because they are more responsive to immediate price action. But overall, I like the clean layout of the scalper a bit more than the C3_Max. In attempt to find a happy medium between the two, I plotted RSI colored candles with scalper colored candles turned off. I liked that combo until I realized the MF Line plots gray unless the scalper's colored candles are enabled. Anyway, not complaining, just giving a little feedback. Your indicators are still on my favorites list Thank you again for sharing your talents!

 

[Falout]

@Christopher84 What happens when I have show breakout signals turned on. I cant seem to see the difference with it on or off?

 

[Christopher84]

@Christopher84 What happens when I have show breakout signals turned on. I cant seem to see the difference with it on or off?

Hi Falout!
Unfortunately, that is a code remnant from putting it all together. I just removed it and corrected the code on pg.1. Sorry for the confusion. Nice catch!

 

[Christopher84]

Your scalper saved me a chunk of money this morning. One of my algos on another platform kicked in, so I pulled up a scalper chart to watch the price action. When it showed a trend change, I closed the algo trade with a slight loss instead of a full stop out. Thank you!

Feedback: To my eye, the scalper with mobius trend pivots is a little cleaner layout than C3_Max support resistance boxes. Maybe my eye is just more used to it. I prefer the candle colors of the C3_Max because they are more responsive to immediate price action. But overall, I like the clean layout of the scalper a bit more than the C3_Max. In attempt to find a happy medium between the two, I plotted RSI colored candles with scalper colored candles turned off. I liked that combo until I realized the MF Line plots gray unless the scalper's colored candles are enabled. Anyway, not complaining, just giving a little feedback. Your indicators are still on my favorites list Thank you again for sharing your talents!

Hi @Trader Raider!
I went ahead and altered the code on pg.1 so that the C3 MF_Line will continue to color even if the colored candles are turned off. Thank you for the suggestion, I certainly see how that could be useful. I understand where you are coming from as far as the zones on C3_Max. However, unlike the Mobius trend pivots study (which is excellent), the zones in C3_ Max are also useful for showing heavy trending states (especially on lower timeframes). The OB and OS Zones also tend to get very close to each other prior to large breakouts. One last thing, the OB/OS Zones have the added advantage of not repainting which helps to identify previous zones of significant support and resistance. As always, I really appreciate your feedback and time checking out the new indicators @Trader Raider!!

***I just made one more alteration to the code on pg.1. If show cloud is turned off, the cloud in the OB and OS zones will disappear but the levels will still plot. I hope that will make it a bit more adaptable.

 

[netarchitech]

@Christopher84 Thank you for your latest, C3_Max...Given the unfortunate limitations of Thinkscript, it is encouraging to see what you've been able to do within those limitations. Thanks also for generously sharing the code with the rest of us

One question, if I may...What role does "SPARK" play in the overall system?

I look forward to your response when you have a chance...

Thanks again...

 

[Christopher84]

@Christopher84 Thank you for your latest, C3_Max...Given the unfortunate limitations of Thinkscript, it is encouraging to see what you've been able to do within those limitations. Thanks also for generously sharing the code with the rest of us

One question, if I may...What role does "SPARK" play in the overall system?

I look forward to your response when you have a chance...

Thanks again...

Hi @netarchitech!
Great question! So spark is intended to give insight on potential reversals. Spark uses the rise of the ema's prior to them crossing as a determinate of whether the price will actually breakout Spark Up = 3 is typically seen right before an upward breakout (see image below). Spark Down = 0 is typically seen before a breakdown in the price action. Hope that helps!

 

[netarchitech]

@Christopher84 Thank you! That was very helpful...

 

[Trader Raider]

I went ahead and altered the code on pg.1 so that the C3 MF_Line will continue to color even if the colored candles are turned off.

You are just awesome! Thank you!

However, unlike the Mobius trend pivots study (which is excellent), the zones in C3_ Max are also useful for showing heavy trending states (especially on lower timeframes).

Ah, thank you for that helpful tidbit.

The OB and OS Zones also tend to get very close to each other prior to large breakouts.

More useful info! I saw that happening on a 5 min chart this morning but got uncomfortable with the clutter. My brain just can't read price action with multiple clouds, boxes, etc. This weekend I will play with the code (not asking you for changes!) to see if I can make the zone colors fainter and more subtle.

***I just made one more alteration to the code on pg.1. If show cloud is turned off, the cloud in the OB and OS zones will disappear but the levels will still plot. I hope that will make it a bit more adaptable.

You are beyond awesome! Thank you! I tried to comment out the zones and made a mess of things.

Now I feel like a kid in a candy shop with all these changes to play around with. Thank you again!

 

[rfb]

Hi @netarchitech!
Great question! So spark is intended to give insight on potential reversals. Spark uses the rise of the ema's prior to them crossing as a determinate of whether the price will actually breakout Spark Up = 3 is typically seen right before an upward breakout (see image below). Spark Down = 0 is typically seen before a breakdown in the price action. Hope that helps!

Hi @Christopher84 . Thanks for answering this! Had the same question as @netarchitech!

Just curious, been playing around with the C3 Max Scalper and was wondering if it's possible to add Spark on that indicator? Been looking today on smaller tf's and find the scalper to be very helpful. Love the C3 Max as well and actually have both working, but unchecked the study on the C3 Max for labeling purposes of Spark. Thanks again! This is really great and hope to put it to use next week.

 

[netarchitech]

@Christopher84 Just one more question (see above screenshot)...Is there a setting in the code to address this or should I just autozoom to focus on the frontend of the chart? Thanks in advance for your time, effort and attention to these inquiries...It is much appreciated

 

[Christopher84]

@Christopher84 Just one more question (see above screenshot)...Is there a setting in the code to address this or should I just autozoom to focus on the frontend of the chart? Thanks in advance for your time, effort and attention to these inquiries...It is much appreciated

Hi @netarchitech!
You are correct. Each study requires a certain amount of data to begin plotting on the chart. Unfortunately, this is something I can't change. Thank you for the screenshot and detailed question!

 

[netarchitech]

Hi @Christopher84,

Thanks for the swift reply Have a great weekend!

 

[Christopher84]

Hi @Christopher84 . Thanks for answering this! Had the same question as @netarchitech!

Just curious, been playing around with the C3 Max Scalper and was wondering if it's possible to add Spark on that indicator? Been looking today on smaller tf's and find the scalper to be very helpful. Love the C3 Max as well and actually have both working, but unchecked the study on the C3 Max for labeling purposes of Spark. Thanks again! This is really great and hope to put it to use next week.

Hi rfb!
Glad you like the new Scalper! I went ahead and altered the code on pg.1 to include the Spark label for you. I hope you have a great weekend! Happy trading!

 

[rfb]

Hi rfb!
Glad you like the new Scalper! I went ahead and altered the code on pg.1 to include the Spark label for you. I hope you have a great weekend! Happy trading!

Outstanding! Thanks so much for your quick response!!! Have a great weekend too!

 

[Trader Raider]

I went ahead and altered the code on pg.1 to include the Spark label for you.

Awesome! This morning I watched spark hit 3 on a futures contract. Nothing happened for a few minutes, then price surged. What a great addition to the indicator. Thank you.

 

[Trader Raider]

@Christopher84, here is a screenshot of /ES from this morning.

https://imgur.com/a/fwYuJOT

Left: 5 min chart with Scalper, RSI candles, and Mobius Trend Pivots. Please note the colored C3 MF Line. After saving the layout, the line plots solid gray instead of colored. I have fiddled with every setting I can think of and removed and re-added indicators but cannot reproduce a colored C3 MF Line if another study is coloring candles. What am I doing wrong? Also, when setting Scalper's aggregation periods, is it advisable to set agperiod1 to match the timeframe of the chart? Or is agperiod1 the first higher timeframe?

Right: 15 min chart with C3_Max. It did a great job marking where price still had support on the way down.

Thank you again for sharing your indicators.

 

[rfb]

Awesome! This morning I watched spark hit 3 on a futures contract. Nothing happened for a few minutes, then price surged. What a great addition to the indicator. Thank you.

Hi @Trader Raider. If you don’t mind me asking, which futures contract and time frame were you watching? Thanks in advance!

 

[Trader Raider]

If you don’t mind me asking, which futures contract and time frame were you watching? Thanks in advance!

It was probably NG or CL on 15 min timeframe. I was watching energies and metals during the Euro session until I couldn't stay awake any longer.

Did you notice anything interesting with these new indicators on your charts today?

 

[Christopher84]

@Christopher84, here is a screenshot of /ES from this morning.

https://imgur.com/a/fwYuJOT

Left: 5 min chart with Scalper, RSI candles, and Mobius Trend Pivots. Please note the colored C3 MF Line. After saving the layout, the line plots solid gray instead of colored. I have fiddled with every setting I can think of and removed and re-added indicators but cannot reproduce a colored C3 MF Line if another study is coloring candles. What am I doing wrong? Also, when setting Scalper's aggregation periods, is it advisable to set agperiod1 to match the timeframe of the chart? Or is agperiod1 the first higher timeframe?

Right: 15 min chart with C3_Max. It did a great job marking where price still had support on the way down.

Thank you again for sharing your indicators.

Nice examples! Not sure why the C3 MF_Line isn’t painting in that setup. I will check it out over the weekend and see if I can find a solution. As always, thank you for the feedback! Have a great weekend @Trader Raider

 

[rfb]

It was probably NG or CL on 15 min timeframe. I was watching energies and metals during the Euro session until I couldn't stay awake any longer.

Did you notice anything interesting with these new indicators on your charts today?

Thanks for the info. I did notice a bit of Spark action on ES earlier in the day on the 5 min tf when ES rallied late morning/early afternoon. Other than that, still getting used to the indicator. I do like your 5/15m chart example. Now that @Christopher84 has done some additional modifications to the scalper, I'll take a closer look over the weekend.