Confirmation Candles Indicator For ThinkorSwim

[tosman]

Hi @tosman!
For MSFT try 40 for the length on 10 min chart. Still not great, but better than your current settings. The 3 min chart for MSFT with a 35 length looks considerably better. The strategy doesn't work equally well on all timeframes. It takes some digging to find the right timeframe and MA setting.

Great, thank you!

 

[MerryDay]

mod note:
This thread is the most active on the forum with 1300 posts.
This thread has been viewed by over 175,000. Making it one of the Top 10 Popular Threads of All Time.

Congrats to everyone who has contributed to it. And a huge Thank-you to the OP: @Christopher64 for the excellent support given to our trading with this indicator.

 

[Christopher84]

mod note:
This thread is the most active on the forum with 1300 posts.
This thread has been viewed by over 175,000. Making it one of the Top 10 Popular Threads of All Time.

Congrats to everyone who has contributed to it. And a huge Thank-you to the OP: @Christopher64 for the excellent support given to our trading with this indicator.

Hi @MerryDay!
That is amazing!!! Thank you for sharing!! I would also like to thank everyone that has contributed to this thread and usethinkscript for the platform to make all of this possible. This really has been a fantastic experience.

 

[Linda4077]

Hi @Christopher84. Been studying and watching the performance of these 3 separate time frames. They all appear to be doing great!

Would it be possible to have a 5m version like the 1m, 3m and 60m version or should I adjust the settings on the 3m version? Not sure what is best, but I think a pure 5m would be a great sweet spot for the tool box!!!

Thanks for all you do!!!

I copied the 3 codes and labeled them into 3 studies with the timeframes. I then changed my time in my chart to reflect the study time. For some reason, I do not get the arrows to show. The only timeframe I can get the arrows to show is with the 1 min chart, what am I doing wrong? Do I need to change my setting or something?

 

[Christopher84]

I copied the 3 codes and labeled them into 3 studies with the timeframes. I then changed my time in my chart to reflect the study time. For some reason, I do not get the arrows to show. The only timeframe I can get the arrows to show is with the 1 min chart, what am I doing wrong? Do I need to change my setting or something?

Hi @Linda4077,
Which code are you trying to use and what asset are you trading? Can share a screenshot? It would help me figure out what’s going on much more easily.

 

[qimy6688]

Hi Christopher. The screenshot is of SPX on April 22, the code uses C3-Max-V2-SPX-Forex and C3-V5-Forex-SPX, 1min, V5's signal-Down and Up are obviously more than Max-V2, sometimes two codes The signal will appear at the same time, and sometimes the signal of Max-V2 will lag by 1 bar (rarely by 2 bars). It feels that at 1Min of SPX, C3-V5 is more sensitive.https://drive.google.com/file/d/1uYmYok3nYr3_u1_FphuLQ9NJ0eHubmLV/view?usp=sharing
https://drive.google.com/file/d/1RbDQR8O3Rglase-BaN5-GGZsE7umZPeu/view?usp=sharing

 

[majidg]

Hi Christopher. The screenshot is of SPX on April 22, the code uses C3-Max-V2-SPX-Forex and C3-V5-Forex-SPX, 1min, V5's signal-Down and Up are obviously more than Max-V2, sometimes two codes The signal will appear at the same time, and sometimes the signal of Max-V2 will lag by 1 bar (rarely by 2 bars). It feels that at 1Min of SPX, C3-V5 is more sensitive.https://drive.google.com/file/d/1uYmYok3nYr3_u1_FphuLQ9NJ0eHubmLV/view?usp=sharing
https://drive.google.com/file/d/1RbDQR8O3Rglase-BaN5-GGZsE7umZPeu/view?usp=sharing

Hi gimy6688, which codes belong to the above two charts?

 

[qimy6688]

Hi gimy6688, which codes belong to the above two charts?

these 2 codes are on the first page of this thread. C3-Max-V2-SPX-Forex and C3-V5-Forex-SPX

 

[RoninTrader]

I definitely understand how you feel. The 10 min strategy has been very consistent so far as well. Very good at flowing with the trend. The Scalper strategy works across a wider range of assets from what I am seeing so far though.

First off Christopher, Thank you for your work, it did add value to my trading strategy, to say the least. I am using the scalper at the moment. i want to ask, which of your strategies are you using to hold anything overnight, I d like to backtest it, please

 

[RoninTrader]

@Christopher84 i also trade mainly spy option. i jump between daytrading spy and sometimes swing trading it overnight or weekly. which strategy of your would you suggest and which lower to couple it with for maximum result per the results you have seen so far

again much thanks to you for sharing and for responding to all of our questions

 

[Christopher84]

First off Christopher, Thank you for your work, it did add value to my trading strategy, to say the least. I am using the scalper at the moment. i want to ask, which of your strategies are you using to hold anything overnight, I d like to backtest it, please

Hi @RoninTrader!
All of my strategies currently hold overnight. I'm not suggesting necessarily holding positions overnight in this trading environment is a good idea. However, that is how the strategies are written. I'm glad you have found by studies useful. Happy trading @RoninTrader!

 

[RoninTrader]

Hi @RoninTrader!
All of my strategies currently hold overnight. I'm not suggesting necessarily holding positions overnight in this trading environment is a good idea. However, that is how the strategies are written. I'm glad you have found by studies useful. Happy trading @RoninTrader!

definitely not in these market conditions lol. Thank you, Christopher

 

[lolreconlol]

@Christopher84 can you share some trades you've done recently, and which indicators you were using? Screenshots would be great (if possible) so I could see exactly what you saw thank you!

 

[Christopher84]

@Christopher84 can you share some trades you've done recently, and which indicators you were using? Screenshots would be great (if possible) so I could see exactly what you saw thank you!

Hi @lolreconlol!
Here is an example where I used my 10 min /es strategy (posted on pg.1) and my MA strategy for the 3 min /es chart (also on pg.1) to create confirmation to go short. Once the 10 min strategy called it short, I'm looking for the signal on the 3 min chart that matched up with the 10 min chart. It resulted in a trade that lasted 2 days. Note that I am not encouraging anyone to hold positions overnight. That is a personal decision based on your own risk tolerance. I personally try my best to execute my strategies as they are written. It helps to improve my overall consistency. I hope you find this helpful!

 

[kls06541]

First of all, THANK YOU for your efforts, guidance, and support

Could you please clarify this? The red arrow indicates a Sell Signal, but the label states "Look to Buy"

Is this possible? Should I buy or sell?

 

[Trader Raider]

Hey, @Christopher84. Thought I would show you how I incorporated your Spark into my algo trading. Because I'm not an adept coder, I had to change it to a histogram on a range from -3 to +3. It's not pretty but it's been a valuable addition to entry/exit criteria.

https://imgur.com/a/LOuVLAz

To date, I have only tested with micros in sim. Looking to take it live in a day or two if I can get some kinks with exits worked out. As you can see from this morning's trades, it works with commodities and indices, but the indices are where Spark really shines. One little micro is up >$600 now. That's my kind of low-risk trade!

https://imgur.com/a/9nC40gD

Thank you again for sharing your talents and knowledge with us!!

 

[Christopher84]

First of all, THANK YOU for your efforts, guidance, and support

Could you please clarify this? The red arrow indicates a Sell Signal, but the label states "Look to Buy"

Is this possible? Should I buy or sell?

Hi @kls06541!
The green channels indicate that there is still an upward trend present. "Look_To_Buy" is telling the trader to look for price to find support in this environment. Happy trading!

 

[kls06541]

Hi @kls06541!
The green channels indicate that there is still an upward trend present. "Look_To_Buy" is telling the trader to look for price to find support in this environment. Happy trading!

Then what is the purpose of the red down single?

 

[kls06541]

In this chart, we see the exact opposite, all the singles (Green Point, Green Arrow, Green Cloud) say to buy, but the label says "Look to Sell."

We just need PLEASE to get more detailed instructions on how to use it and we are good to go

Once again, please accept my sincere thanks

 

[Christopher84]

Then what is the purpose of the red down single?

Hi @kls06541,
The red down signal lets the trader know to take profit. This topic has been discussed in detail. Green candles in red channels and red candles in green channels, are also touched on a bit in the video. There's also a diagram on pg.1. I hope this helps!