Confirmation Candles Indicator For ThinkorSwim

[Christopher84]

Pevious OS/OB zones can prove to be zones of support or resistance.

Notice in the next screenshot where the /ES has found some intermediate support. Very nice call out here. The OB/OS levels can be very significant.

 

[Christopher84]

ES found some support on previous OS zone. 30 min showing the trend nicely.

 

[Trader Raider]

@Christopher84 or @Trader Raider or others..

1) How are you or anyone using just the C3_MF_LINE in scalping ( I just have that alone now) and want to see how anyone is using for scalping (5 mins) or even swing trading.

Hey, easyman. If you pull up 5 min charts for gold, silver, and crude, you will see that all 3 had scalper signals fire premarket this morning. I didn't get in when signals fired because I was aiming for fib targets based on overnight price structure. All three showed bullish price action at the 9:30 open with 100% long bias on the scalper. All were above the C3 line (which was green) and VWAP. All three showed a spark score of 2. All had strong CTM scores. I ended up going long on gold and hit all 3 profit targets. Crude hit 2 of 3 targets, getting stopped out on the last contract because I was trailing it tight to conserve gains.

Hope that helps and happy trading!

https://imgur.com/a/gtw0Nlh

 

[Christopher84]

Hey, easyman. If you pull up 5 min charts for gold, silver, and crude, you will see that all 3 had scalper signals fire premarket this morning. I didn't get in when signals fired because I was aiming for fib targets based on overnight price structure. All three showed bullish price action at the 9:30 open with 100% long bias on the scalper. All were above the C3 line (which was green) and VWAP. All three showed a spark score of 2. All had strong CTM scores. I ended up going long on gold and hit all 3 profit targets. Crude hit 2 of 3 targets, getting stopped out on the last contract because I was trailing it tight to conserve gains.

Hope that helps and happy trading!

https://imgur.com/a/gtw0Nlh

As always, excellent example @Trader Raider! Thank you for sharing!

 

[Christopher84]

ES found some support on previous OS zone. 30 min showing the trend nicely.

Nice bounce off support. Look at the confluence (green candle, green C3_MF_Line, Arrow Up, breakout of OS zone) for the upward push.

 

[rfb]

Nice bounce off support. Look at the confluence (green candle, green C3_MF_Line, Arrow Up, breakout of OS zone) for the upward push.

@Christopher84 @Trader Raider

Thank you both for the charts and explanations. Been missing some of the activity of late, however, I've also been combining some of Christopher's studies on different ES and MES time frames. As of last night and into this morning, I loaded the C3 Max and C3 v6 from last June on a MES 2000t chart. (Scalper will not work on tic charts as you know) I like the combination of these 2 with the ichimoku cloud from C3 v6. The C3 Max appears to be working very well on tic charts.

Separately, I opened another MES chart with a 3 minute time frame with the C3 Scalper and C3 v.6. On the Scalper I set all agg periods to 3 minutes and looks to be working very well.

Looking at today's action which I missed, there were quite a few setups to go long and short. I know the day was crazy, but I'll look further back and will try to run OnDemand to get a better feel. Keep you posted on the findings. Both of these can certainly apply to ES or probably any other instrument, including your favorite time frames.

Thanks again @Christopher84 for developing these great indicators!!!!

 

[easyman]

Hey, easyman. If you pull up 5 min charts for gold, silver, and crude, you will see that all 3 had scalper signals fire premarket this morning. I didn't get in when signals fired because I was aiming for fib targets based on overnight price structure. All three showed bullish price action at the 9:30 open with 100% long bias on the scalper. All were above the C3 line (which was green) and VWAP. All three showed a spark score of 2. All had strong CTM scores. I ended up going long on gold and hit all 3 profit targets. Crude hit 2 of 3 targets, getting stopped out on the last contract because I was trailing it tight to conserve gains.

Hope that helps and happy trading!

https://imgur.com/a/gtw0Nlh

Good trade... so basically > C3 and VWAP along with Spark.

What is CTM ?. Is that a study somewhere (if it's proprietary apologize for asking)

TIA
MN

 

[Trader Raider]

Good trade... so basically > C3 and VWAP along with Spark.

What is CTM ?. Is that a study somewhere (if it's proprietary apologize for asking)

TIA
MN

Hey, easyman, no apology necessary That is the Chande Trend Meter that is posted in the VIP forum. Mine is slightly different because I added labels to remind me of the numbers I'm looking for. It is the indicator plotted beneath the MACD_BB in the photo above. There is also an upper version.

It hasn't happened very often, but I have seen it a few times when the scalper and the CTM are nowhere near confluence. For example, the CTM may be showing a strong short trend and the Scalper is showing a long scalp. That is a red flag for me to stay out. What is more typical, from the few days I have watched the two together, is that the Chande will give a heads-up to be careful. Here's an example of scalper (solid line) plotted with upper CTM (dashed line) and lower CTM.

https://imgur.com/9QkvubF

The scalper gives a long signal while the Chande is still showing bearish. A few candles after the signal, there is a little pullback. Not a big deal if you don't keep tight stops. But I do, and that little downward price movement may have stopped me out. For me, the better entry is when Chande and scalper agree. Also, if you notice at the top right, scalper is still painting green candles while the Chande has turned bearish. For me, that's a caution sign that the green candles may not last much longer and the gray C3 MF line may be on the verge of turning red.

Anyway, I hope that helps. Please understand that I am not trying to be critical of scalper in any way. I never thought I would like any indicator better than consensus candles, but the scalper is well on its way to becoming my new favorite.

 

[majidg]

Nice bounce off support. Look at the confluence (green candle, green C3_MF_Line, Arrow Up, breakout of OS zone) for the upward push.

can you please provide the codes for the above? thanks.

 

[Christopher84]

can you please provide the codes for the above? thanks.

It is the code for C3_Max_v2 which is on pg.1 of this thread.

 

[Christopher84]

This is in the works. I'm currently building a basic strategy for C3_Max. Long entries only(1 share traded at a time), no shorting. /ES 10 min 90 days. Anyone interested?

 

[DcStocks]

Looks interesting. But I love Shorting! Got anything for that?

 

[RedToGreen]

TSLA, long signal this morning, came down and bounced. That's a 2 min chart

MCD, couple short signals

As I said in post #962, I re-worked some of the code to suit me

 

[Christopher84]

Looks interesting. But I love Shorting! Got anything for that?

Hey @DcStocks!
The code can be modified for shorting as well(performs excellent on the 5 min chart for the /ES), however it loses stability on higher time frames. It has shown to be tremendously more stable on the long side of the trade (even in this choppy market). Great question @DcStocks!

 

[Christopher84]

Looks interesting. But I love Shorting! Got anything for that?

Here's what the performance looks like with the strategy trading (1 share) long and short positions on the /ES 10 min chart over 90 days.

 

[arm1]

This is in the works. I'm currently building a basic strategy for C3_Max. Long entries only(1 share traded at a time), no shorting. /ES 10 min 90 days. Anyone interested?

Yessssssssssir! 1) Thanks for creating all of this 2) Thanks for answering repetitive questions over and over

 

[Trader Raider]

Here's what the performance looks like with the strategy trading (1 share) long and short positions on the /ES 10 min chart over 90 days.

Looks great! Wish you were doing this in easylanguage so that I could add it to my automated strategies.

 

[Christopher84]

Looks great! Wish you were doing this in easylanguage so that I could add it to my automated strategies.

Hi @Trader Raider!
I posted two versions of the strategy on pg.1 toward the bottom of the page. It's no where near perfect, but its a start. Its showing some strong profitability on the /es especially on the 10 min charts. Happy trading!

 

[Falout]

This is in the works. I'm currently building a basic strategy for C3_Max. Long entries only(1 share traded at a time), no shorting. /ES 10 min 90 days. Anyone interested?

10 Minutes definitely seems to be the sweet spot. I honestly didn't know you could back test like this. I had given up on the TOS OnDemand its so bad. @Christopher84 when I have it show me the Strategy Report is there any way for it to take into account that I have Paper Hands and I wont be holding anything overnight. This is really nice Thanks you sir.

 

[rfb]

Hi @Trader Raider!
I posted two versions of the strategy on pg.1 toward the bottom of the page. It's no where near perfect, but its a start. Its showing some strong profitability on the /es especially on the 10 min charts. Happy trading!

Excellent! Thank you for putting this together! Awesome!!!