Confirmation Candles Indicator For ThinkorSwim

[Christopher84]

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

-1/1 is short/long 1 share. The 50 is the contract multiplier for the /es.

 

[burke3472]

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

Thank you so much. They are perfect.

 

[majidg]

Thank you so much. They are perfect.

HI Christopher84, which post shows the altered study that includes 2 hours Time frame? thanks,

 

[burke3472]

@Christopher84 I have another question. On the first page, for EMAD_Range and MTF_MOBO, how to set up agperiod1? The same as time frame or 3-5 times of time frame? Thank you so much.

 

[Christopher84]

HI Christopher84, which post shows the altered study that includes 2 hours Time frame? thanks,

It’s the MTF MA Cloud on pg.1 of the thread.

 

[otal]

Thanks in advance to @Christopher84 and the other geniuses.

Very good I have read all this thread and I am still learning, I have spent two years day and night looking for my best way to play.
I am good at Excel but it has given me a new light.
I would like to know if it is possible to have a scanner for "Green Point OS look to buy". And if it is not too much to ask in different time periods, especially on a daily basis.
Many, many thanks from the coffee land.

 

[RoninTrader]

@Christopher84 i used Scalper to plan an entry on Spy after it gapped up at the open. i usually for the first retracement of the day which happened to take more than usual but exactly after Euro closed, I heard some price alerts get triggered, I run to the computer from the kitchen and I saw the scalper posting 70% long, the reversal signal I added to the chart matched exactly with the LE signal Christopher84 has on the chart, I went long with 422 calls right away. after scalper showed 100% scalp long, it never looked back.
along with the personal trading strategies I follow, the scalper was clean and smooth
I run a laptop with two external monitors, on the main screen I have the scalper, on the left I have @Christopher84 C max strategy on three splits NQ/ES/VIX
on the left screen, I am running webull for my options trading book
what a day. i also took a long spy short at 429 put believing it may tank leading into next week's fed meeting
THANK YOU @Christopher84 for this tool

https://imgur.com/a/6NleDZ7

 

[RoninTrader]

@Christopher84 i used Scalper to plan an entry on Spy after it gapped up at the open. i usually for the first retracement of the day which happened to take more than usual but exactly after Euro closed, I heard some price alerts get triggered, I run to the computer from the kitchen and I saw the scalper posting 70% long, the reversal signal I added to the chart matched exactly with the LE signal Christopher84 has on the chart, I went long with 422 calls right away. after scalper showed 100% scalp long, it never looked back.
along with the personal trading strategies I follow, the scalper was clean and smooth
I run a laptop with two external monitors, on the main screen I have the scalper, on the left I have @Christopher84 C max strategy on three splits NQ/ES/VIX
on the left screen, I am running webull for my options trading book
what a day. i also took a long spy short at 429 put believing it may tank leading into next week's fed meeting
THANK YOU @Christopher84 for this tool

https://imgur.com/a/6NleDZ7

here is the full setup with three screens for today's session
went short on spy at open since no liquidity was insight in bookmap and exited at yesterday s lows
what a day, good luck to whomever still trading and enjoy ur weekends

https://imgur.com/a/djoM45Y

 

[wshao8]

Hi Everyone!
I have been working on an Idea I am calling confirmation candles. I often times find myself trying to find agreement among the numerous indicators that I use to help guide my decisions. Unfortunately, a lot of the time this creates indicator overload and analysis paralysis. So I have included 15 indicators of trend within this indicator. You can choose how many of the 15 indicators have to be in agreement in order to confirm the trend. I may have gone a bit overboard here, however it makes it adaptable to individual risk tolerance and trading style.

***Please note that I will always post the newest version of these indicators on page 1 of this thread. I am always happy to answer questions for those who are trying to utilize these indicators. However, I ask that you review my post below explaining the various aspects of the indicators. I'll do my best to continue to elaborate to help everyone.

Here is the newest code for C3_Max! Happy trading!!!

Hi Christopher84, Could you add C3_MF_Line_Extension to your Consensus Confirmation Candles C3 V6 (or make another script)? I like it. Thanks.

 

[ALV]

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 qimy6688:
Saw your charts and seems like you experienced the same I did some time ago. That was one of the reasons I moved away from 1 minute chart. There are too many signals and, if you use confirmatory signals from other indicators, it will make the decision process to enter a trade more difficult. I am exploring with the 2 & 5 mins charts for scalping SPY, SPX and /ES. I have been testing the latest C3_Max_v2 MA_Strategy posted in page 1 with good results. See attached SPY chart from the same timeframe used in your example.
Note the following:
The trend was negative all day [smooth 50 EMA blue line] and the 10/55 ema lines (if you turn on the EMA cloud from the strategy, it will be visible). Trade with the trend.
The C3 MF_Line was consistently red as well as the RSM cloud in the lower B4 indicator.
There are some periods of time where consolidation is taking place as indicated by Expansion contraction indicator and the lower B4 indicator.
The C3 Max V2 strategy arrows [in this case down signals], are consistently anticipating the down movement.

You can see in Post 1,274 how @Christopher84 trade using the 3 & 10 mins chart too.
Hope this help.

https://imgur.com/a/RXTJDAY

 

[qimy6688]

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.

 

[Christopher84]

Hi Christopher84, Could you add C3_MF_Line_Extension to your Consensus Confirmation Candles C3 V6 (or make another script)? I like it. Thanks.

Hi @wshao,
Unfortunately, ToS no longer supports the code used to create the C3_MF_Line_Extension.

 

[8Nick8]

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.

https%3A//i.imgur.com/FE9G5O3.jpg[/img]']

@Trader Raider Hi, I use the scalper script from page 1, but I am unable to get the buy n sell arrows plots as we as the C3_MF line on the chart, shown on the pic? All the boxes are checked to show plot...Is there something I didnt do correctly?

 

[ALV]

14462[/ATTACH]']

@Trader Raider Hi, I use the scalper script from page 1, but I am unable to get the buy n sell arrows plots as we as the C3_MF line on the chart, shown on the pic? All the boxes are checked to show plot...Is there something I didnt do correctly?

@8Nick8:
Make sure your aggregation period are = or > than your chart time. By default, they start with 2 min, 3 min, 10, etc.

 

[8Nick8]

@8Nick8:
Make sure your aggregation period are = or > than your chart time. By default, they start with 2 min, 3 min, 10, etc.

https%3A//i.imgur.com/0Ni8sQs.jpg[/img]']

@ALV Thank u for your prompt reply. Just to confirm, if my chart time frame is 5min, i need to change all these agg periods to be greater than 5mins. May I know if there is any lower indicator that goes along with the scalper system?

Thanks

 

[ALV]

14465[/ATTACH]']

@ALV Thank u for your prompt reply. Just to confirm, if my chart time frame is 5min, i need to change all these agg periods to be greater than 5mins. May I know if there is any lower indicator that goes along with the scalper system?

Thanks

Hi @8Nick8;
For a 5 min chart you may want to use the agg periods below:

https://imgur.com/a/h9vMYol

I haven't tested the Scalper yet, read in a previous post that it repaints. You can refer to Post 1,307 from @RoninTrader where the Scalper was used to see lower indicators included in his trade. I use the B4 indicator shown in his chart too.
Hope this help.

 

[qimy6688]

Hi qimy6688:
Saw your charts and seems like you experienced the same I did some time ago. That was one of the reasons I moved away from 1 minute chart. There are too many signals and, if you use confirmatory signals from other indicators, it will make the decision process to enter a trade more difficult. I am exploring with the 2 & 5 mins charts for scalping SPY, SPX and /ES. I have been testing the latest C3_Max_v2 MA_Strategy posted in page 1 with good results. See attached SPY chart from the same timeframe used in your example.
Note the following:
The trend was negative all day [smooth 50 EMA blue line] and the 10/55 ema lines (if you turn on the EMA cloud from the strategy, it will be visible). Trade with the trend.
The C3 MF_Line was consistently red as well as the RSM cloud in the lower B4 indicator.
There are some periods of time where consolidation is taking place as indicated by Expansion contraction indicator and the lower B4 indicator.
The C3 Max V2 strategy arrows [in this case down signals], are consistently anticipating the down movement.

You can see in Post 1,274 how @Christopher84 trade using the 3 & 10 mins chart too.
Hope this help.

https://imgur.com/a/RXTJDAY

Thank you very much for your reply, and for sharing your trading experience. I realize the problem you mentioned, there are indeed too many signals in the 1Min chart. I used 1-3-10 Min in last week's trade, using 10Min to identify the trend and 1&3Min combined to identify buy and sell points. At the same time, I will also refer to VOL, ADD and Tick to determine the trend of the day.
I also want to try 2-5Min, on CODE C3_Max_v2 MA_Strategy. By the way, what is your strategy MA Length parameter? it's 55?

 

[ALV]

Thank you very much for your reply, and for sharing your trading experience. I realize the problem you mentioned, there are indeed too many signals in the 1Min chart. I used 1-3-10 Min in last week's trade, using 10Min to identify the trend and 1&3Min combined to identify buy and sell points. At the same time, I will also refer to VOL, ADD and Tick to determine the trend of the day.
I also want to try 2-5Min, on CODE C3_Max_v2 MA_Strategy. By the way, what is your strategy MA Length parameter? it's 55?

Hi @qimy6688,
I am not an experienced trader. I have been trading for a couple of years only without much success until I found this site. I've learned a lot from experiences shared by other traders and by great tools and strategies like the Confirmation candles shared by @Christopher84 , which in my humble opinion is amazing. I am very conservative and don't have enough time to trade which is why I scalp .
Related to your question , for the 2 & 5 min charts I set the 5min to 8/21 and the 2 min to 8/40. On Thursday 4,28 there was a slight negative move and eventually a positive move around noon.

(1) Price action in 5 min chart was below the smooth 50 EMA (blue line) so I'm looking for shorts, the chart shows the strategy sell signal arrow triggered around 9:35 am, and confirmed by B4 lower indicator. This results in a short trade for a few points. Consolidation is observed from 10 to 12 as indicated by the orange dots [Expansion contraction indicator], no trades during this period of time for me.

(2) Around 12:10 in the 5 min chart, after half hour of contraction, a bar closed over smoooth 50 EMA, a buy signal is triggered by C3 MAX strategy, and B4 is showing strong upward move. This is confirmed in the 2 min chart resulting in calls trade. Sold the calls once the RSM cloud dissapeared in B4 around 13:30 and left a runner since the C3 MF line was green and still above the EMA cloud . Closed the runner approx 15:00 when a squeeze started to form in 5 min chart.

Hope this help. Again, C3 Max V2 strategy works extremely well from my perspective. I don't take all the signals as you see, need to work with my emotions and be less conservative. Let me know your experience with 3& 10 min charts. Will explore using it.

https://imgur.com/a/2vPZews

 

[otal]

I would like to share my experience with all of you and thank you for such a great job.
green candles in
red channels.
I manage temporalities of 1 day, 15 minutes, 5 minutes and 1 minute.
1) 1 Day and 15 minutes strong red channels.
2) 5min red channel with green candlestick display.
3) 1 minute candles follow up for entry after breakout.

I hope it helps everyone as it worked for me.
I operate with contracts take the contract SPY220429P418

Greetings from coffee land

 

[TapthatAsk]

Sure! Share link is below. Feedback is much appreciated.

https://tos.mx/vql512R

@Christopher84 Hope all is well!! Been having some success with the many indicators you have out so I just want to say thanks for all the hard work you put into each one. Been incorporating the emad range to my strategy an I think it fits right in but I have a question or maybe a request. Can you do a scan for it when it crosses the zero line? I tried it but maybe doing something wrong. I used price close crossed emad zero line within 1 bar on a 3 minute.