Confirmation Candles Indicator For ThinkorSwim

[kls06541]

The channel is red and the candles are green, but the label reads 'Look to Sell'

Is this even possible?

 

[Christopher84]

The channel is red and the candles are green, but the label reads 'Look to Sell'

Is this even possible?

Yes that is 100% possible. Please review the video, diagram, and thread commentary on this topic.

 

[kls06541]

Sorry about that, I erred

Could you please tell me what I did wrong here? Purchase Price for $37.71 & Sold for $37.57

 

[Trader Raider]

Sorry about that, I erred

Could you please tell me what I did wrong here? Purchase Price for $37.71 & Sold for $37.57

Just curious, are you trading from a 10 min chart by itself? Are you looking at daily or 30 min or hourly charts to be sure your lower time frame entry is aligned with higher time frame price action?

The thing about Christopher's indicators is that they provide a lot of data in a compact form that keeps the chart as tidy as possible. If it is difficult for you to interpret that data on a 10 min chart, it may make more sense if you try to analyze the 10 min price action in light of what is happening on higher timeframes. If you make a grid with a 10 min cell and cells with higher timeframes beside it, then watch the price action unfold simultaneously across multiple timeframes, it may help you better understand what is happening on the 10 min chart.

No intent to be critical Best wishes and happy trading!

 

[Christopher84]

Sorry about that, I erred

Could you please tell me what I did wrong here? Purchase Price for $37.71 & Sold for $37.57

"Look_To_Buy" is meant to remind the trader that there is still an upward trend present, and to look for price to gain support. In this example, it appears that price didn't find support on the near term channel. It went right through it, making successive lows one after another. It never gave a buy signal. The channel went red and price pushed lower.

 

[kls06541]

Just curious, are you trading from a 10 min chart by itself? Are you looking at daily or 30 min or hourly charts to be sure your lower time frame entry is aligned with higher time frame price action?

The thing about Christopher's indicators is that they provide a lot of data in a compact form that keeps the chart as tidy as possible. If it is difficult for you to interpret that data on a 10 min chart, it may make more sense if you try to analyze the 10 min price action in light of what is happening on higher timeframes. If you make a grid with a 10 min cell and cells with higher timeframes beside it, then watch the price action unfold simultaneously across multiple timeframes, it may help you better understand what is happening on the 10 min chart.

No intent to be critical Best wishes and happy trading!

Not at all, I want to hear and listen to other professional gurus like you, as I'm still getting my bearings with the whole concept of charts

I appreciate you taking the time to clarify this for me

 

[Trader Raider]

Not at all, I want to hear and listen to other professional gurus like you, as I'm still getting my bearings with the whole concept of charts

I appreciate you taking the time to clarify this for me

Oh my goodness, I am no guru! One thing to know in trading is that taking the advice of internet strangers can cost you a lot of money!!

Anyway, when I was getting started, here are some of the mistakes I made, in case there is anything you can learn from.
1- Trying to trade everything under the sun. I didn't learn price action until I did a lot of reading and started following one instrument to apply what I was learning to a single instrument and watching the rhythm of its movement day after day.
2- Not keeping a trade journal. Failure is hard but it can teach valuable lessons. It can also teach you the times of day an instrument tends to move, etc. Recording what led up to a losing trade is as valuable as recording what led to a profitable one.
3- Not using good money management. (won't tell you how many accounts I blew up!)
4- Revenge trading (aka failure to exercise self-discipline)
5- Failure to make a trading plan ... and follow it
6- Failure to understand that a trading plan isn't only about entries and exits. It's also about putting limits and boundaries in place to compensate for my shortcomings. (For example, I don't trade when tired or stressed out because it prompts me to trade on emotion. I also avoid trading on certain days and certain times of day because my strategies...or my brain...something doesn't work as well during those times.)

Anyhow, best wishes and best of luck to you. Oh, one other thought. If you are finding the consensus candles complicated, you may want to consider plotting the scalper indicator (page 1 of this thread) across multiple timeframes. I like its simplicity and find it pretty accurate when high and low timeframes are in confluence.

 

[kls06541]

Oh my goodness, I am no guru! One thing to know in trading is that taking the advice of internet strangers can cost you a lot of money!!

Anyway, when I was getting started, here are some of the mistakes I made, in case there is anything you can learn from.
1- Trying to trade everything under the sun. I didn't learn price action until I did a lot of reading and started following one instrument to apply what I was learning to a single instrument and watching the rhythm of its movement day after day.
2- Not keeping a trade journal. Failure is hard but it can teach valuable lessons. It can also teach you the times of day an instrument tends to move, etc. Recording what led up to a losing trade is as valuable as recording what led to a profitable one.
3- Not using good money management. (won't tell you how many accounts I blew up!)
4- Revenge trading (aka failure to exercise self-discipline)
5- Failure to make a trading plan ... and follow it
6- Failure to understand that a trading plan isn't only about entries and exits. It's also about putting limits and boundaries in place to compensate for my shortcomings. (For example, I don't trade when tired or stressed out because it prompts me to trade on emotion. I also avoid trading on certain days and certain times of day because my strategies...or my brain...something doesn't work as well during those times.)

Anyhow, best wishes and best of luck to you. Oh, one other thought. If you are finding the consensus candles complicated, you may want to consider plotting the scalper indicator (page 1 of this thread) across multiple timeframes. I like its simplicity and find it pretty accurate when high and low timeframes are in confluence.

You mean this one?

 

[JT_479]

The ScalperV2 gave me a signal at 10:04am central time to buy $NUTX at 4.49$ and the exit signal at 11.80$ thanks for all you do Chris, Barbados, Ben, J007RMC, and TraderRaider

 

[kls06541]

The ScalperV2 gave me a signal at 10:04am central time to buy $NUTX at 4.49$ and the exit signal at 11.80$ thanks for all you do Chris, Barbados, Ben, J007RMC, and TraderRaider

Are there any Scans available for this Study?

 

[kls06541]

I did spent today reading the first 30 Pages, I wish I wish there where more training Text or Video's how to use all this Excellent Indicators

If someone can please send me to any link where to read more, I will appreciate it

 

[burke3472]

@Christopher84 Hi, just wondering if you could add 2 hour time frame to MTF Cloud Upper and Lower studies? I tried myself but the moving average did not show. Thanks.

 

[RoninTrader]

@Christopher84 Thank you again for your system. the possibilities of profits are endless once the trader confirm the signals with the market conditions and the outside factors that also have a say on which direction the market should go.
anyway I have two requests if I may
1 - which system of your and settings I can use on higher timeframes so I can see the bigger picture of the indicie I am trading
2- can you please share the charts in the post # 1274
thank you again

 

[RoninTrader]

I did spent today reading the first 30 Pages, I wish I wish there where more training Text or Video's how to use all this Excellent Indicators

If someone can please send me to any link where to read more, I will appreciate it

you should experience with the one (s) you believe fit your trading style. I can tell you first hand @Christopher84 indicators or strategies really on point, but again results will depend on your trading style

 

[Kitchasap]

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!

Thanks a lot Christopher for explaining your strategy.

 

[RoninTrader]

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!

One more than please @Christopher84 : the -(50), what exactly is that? and should interpret it? i am guessing your personal position?
thanks again

 

[Christopher84]

Are there any Scans available for this Study?

Hi @kls06541,
Unfortunately, I don't have any scans for the Scalper study yet.

 

[Christopher84]

@Christopher84 Hi, just wondering if you could add 2 hour time frame to MTF Cloud Upper and Lower studies? I tried myself but the moving average did not show. Thanks.

Hi @burke3472,
I altered the studies to include the 2 hour time frame. I hope you find it useful!

 

[Christopher84]

@Christopher84 Thank you again for your system. the possibilities of profits are endless once the trader confirm the signals with the market conditions and the outside factors that also have a say on which direction the market should go.
anyway I have two requests if I may
1 - which system of your and settings I can use on higher timeframes so I can see the bigger picture of the indicie I am trading
2- can you please share the charts in the post # 1274
thank you again

Hi @RoninTrader!
1. I personally use the C3_Max to assess trends on higher timeframes. I like combining it with the various strategies that I have posted here, in order to find the most profitable trades.
2. The charts posted on #1274 are utilizing the same codes posted on pg.1 of the thread. Here are the share links:
Here's my 3 min chart https://tos.mx/fVDtynl
Here's my 10 min chart https://tos.mx/HkTtBzQ
Hope these help. Happy trading @RoninTrader!

 

[RoninTrader]

Hi @RoninTrader!
1. I personally use the C3_Max to assess trends on higher timeframes. I like combining it with the various strategies that I have posted here, in order to find the most profitable trades.
2. The charts posted on #1274 are utilizing the same codes posted on pg.1 of the thread. Here are the share links:
Here's my 3 min chart https://tos.mx/fVDtynl
Here's my 10 min chart https://tos.mx/HkTtBzQ
Hope these help. Happy trading @RoninTrader!

infos helps alot, thank you @Christopher84 . what is that -1(-50) mean next to the SE?