Confirmation Candles Indicator For ThinkorSwim

[Trader Raider]

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!

Thank you!! With the current geopolitical situation, I don't have the risk tolerance to trade against higher timeframe trends. I appreciate that these studies allow for loading long-only or short-only signals that will help keep my trades aligned with longer term trends. Can't wait to watch these studies in action tomorrow. You are so generous in sharing your work with us ... thank you

 

[RedToGreen]

Nothing to see here...
Just something I'm working on

But now I must sleep

 

[Christopher84]

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.

Hey @Falout!
Short of rewriting the strategy, I don't think ToS has the tools for that type of analysis. You can always export the strategy report to do your own analysis in excel. Did you catch that short position called out on the new strategy yesterday afternoon on the /es? Still performing well on the 10 min. It's up $4k from yesterday's post.

 

[Christopher84]

Long entry made by the strategy lining up nicely with the spark.

 

[rfb]

Long entry made by the strategy lining up nicely with the spark.

Thanks again for putting this together! I didn't get to use it today, but will review the day's action.

Quick question:

Other than the "Spark" label, is there a way to indicate the spark condition on the chart? Maybe a spark arrow or square or some sort of indicator in addition to the label. Thank you and no rush on a reply!!

 

[Christopher84]

Thanks again for putting this together! I didn't get to use it today, but will review the day's action.

Quick question:

Other than the "Spark" label, is there a way to indicate the spark condition on the chart? Maybe a spark arrow or square or some sort of indicator in addition to the label. Thank you and no rush on a reply!!

Hi @rfb!
For spark I just look for the red cloud with both averages green. I hope that’s helpful!

 

[RedToGreen]

I just wanted to say that I've always been a fan of clean charts but I really like this indicator.

It's really good at plotting support and resistance areas.

I like the moving average cloud combo.

Everything about it is excellent

Thanks @Christopher84 for making and sharing this.

I'm not sure how it will turn out but I made some good progress today on the MTF code which I will post when complete

 

[Christopher84]

I just wanted to say that I've always been a fan of clean charts but I really like this indicator.

It's really good at plotting support and resistance areas.

I like the moving average cloud combo.

Everything about it is excellent

Thanks @Christopher84 for making and sharing this.

I'm not sure how it will turn out but I made some good progress today on the MTF code which I will post when complete

Hey @RedToGreen!
Thank you so much for the kind words! Your feedback is much appreciated. I’ll be looking forward to seeing what you come up with. Happy trading!

 

[rfb]

Hi @rfb!
For spark I just look for the red cloud with both averages green. I hope that’s helpful!

Perfect! Thanks again!

 

[Trader_Rich]

I know most of y'all are using C3 on time based charts but I've been using 1000tick volume and 10tick range charts the past few days with great success

 

[drizzla]

Trying out C3 Max, and it's extending these lines all the way down to zero. Any idea how to fix this?

https://imgur.com/a/PeFFIel

 

[arm1]

You need to extend the timeframe. Try 10 D/1m or 15D/1m.

 

[Christopher84]

Trying out C3 Max, and it's extending these lines all the way down to zero. Any idea how to fix this?

https://imgur.com/a/PeFFIel

Hi @drizzla,
One other thing you can try besides @arm1’s suggestion, is going to settings and turning off fit studies. Hope that helps!

 

[Trader Raider]

@Christopher84, after watching your indicators this week, I think the scalper is the most nimble. It seems slightly faster than C3Max to respond to price action. Also, I like seeing the bias percentage with a color-coded label. It's less work for my brain than processing consensus increasing/decreasing ... shouldn't be, but it is

Now, I have a question. Is there an issue with the bearish labels on Scalper and C3Max? Seems like they are firing when I would expect bullish labels. Or maybe I am not understanding something with your system?

https://imgur.com/a/O6BZW7h

Best wishes and happy weekend!

 

[Christopher84]

@Christopher84, after watching your indicators this week, I think the scalper is the most nimble. It seems slightly faster than C3Max to respond to price action. Also, I like seeing the bias percentage with a color-coded label. It's less work for my brain than processing consensus increasing/decreasing ... shouldn't be, but it is

Now, I have a question. Is there an issue with the bearish labels on Scalper and C3Max? Seems like they are firing when I would expect bullish labels. Or maybe I am not understanding something with your system?

https://imgur.com/a/O6BZW7h

Best wishes and happy weekend!

Hi @Trader Raider,
The labels can seem a bit contrary to each other from time to time. When the label says Bearish Look to Sell, its alerting you to the fact that the Keltner Channel is still in a downward orientation which most of the time indicates a mean reverting state where price is likely to be rejected near the average. It's not perfect, but it definitely has served me well in not trading too aggressively in these zones where my risk is potentially much higher than my reward. I will be thinking of how to create more harmony with the ideas behind C3 and the labels. Thank you so much for your feedback! Also, I love the scalper too. It catches pivots extremely well, and it gives indication for which side of the trade the trader should be focusing on. The relationship between the rise of the EMA's and the number of EMA's that are crossed in a certain direction was an extremely interesting discovery on this indicator.

 

[nnuts]

Not working well with RGLD.

 

[arm1]

Not working well with RGLD.

It's a scalper study... you are using on a daily timeframe lol. Try it on like a 2m, 5m, 10m timeframe. Use Multiple Time Frames to get a clearer picture

 

[lolreconlol]

It's a scalper study... you are using on a daily timeframe lol. Try it on like a 2m, 5m, 10m timeframe. Use Multiple Time Frames to get a clearer picture

What's your strategy using the scalper? Wait for a candle to close green/red and jump in on the next candle?

 

[Christopher84]

What's your strategy using the scalper? Wait for a candle to close green/red and jump in on the next candle?

Hi @lolreconlol!
The Scalper helps to give a better picture of the overall trend environment. In the image below you can see TSLA has been SCALP_SHORT today. That means that more of the ema's are currently crossed down indicating a bearish trend. That being said, I would only be looking for scalps in the direction of the major trend. When the C3_MF_Line goes gray, those are opportunities to take profits or exit the trade. I hope this helps. Happy trading!

 

[lolreconlol]

Hi @lolreconlol!
The Scalper helps to give a better picture of the overall trend environment. In the image below you can see TSLA has been SCALP_SHORT today. That means that more of the ema's are currently crossed down indicating a bearish trend. That being said, I would only be looking for scalps in the direction of the major trend. When the C3_MF_Line goes gray, those are opportunities to take profits or exit the trade. I hope this helps. Happy trading!

Thank you! What's your favorite timeframe to use with the Scalper? How do you adjust it so it works on timeframes other than 1 minute? Is it recommended to have extended hours on or off? Hope you haven't answered these questions a hundred times already.. thank you!