Confirmation Candles Indicator For ThinkorSwim

[eagle_ai]

https://tos.mx/iHw5hKi
This is what I use. I generally wont make a trade until after 10:00 A.M. New York time to get the best winning percentages. You should be able to just add C3 Max.

https://imgur.com/YpZk0x1

Thank you. Following your settings for "agperiod" 1 thru 6, I was able to get it work on 5min or less. I also set "mult" to 1 as I only trade stocks (based Christopher's comment in another post).

 

[8Nick8]

Be still, my heart Thank you for the update! Just exited a cattle short with Scalper v2. The bias label kept me in the trade when I was tempted to bail before hitting the target. Wasn't the most profitable trade of my life. But it was a nice enough scalp that I'll be celebrating with steak for lunch

Thank you again for everything you share with us! Just when I thought I was finished for the day, you give us something else and now I have to adjust my charts ... again

Hi @Falout!
I am really happy to hear you are making good use of the Scalper! Per your request I have included the fib coefficient targets and posted the new code for Scalper v3 underneath the original scalper on pg.1 of the thread. I hope you find it helpful. Thanks for all of your feedback!

Hi @Christopher84, I have a dumb qns, when using the scalper, is it possible to scan for the Buy or Signal using the strategy script? I got an error msg "too complex...." when i tried to do a scan.
Thanks

 

[graci117]

@Christopher84 - I watched your video on the CC candles. I had stopped trading because of work issues. I looked at this thread and I can't believe the amout of work @Christopher84 has put in even after when I used the original CC candles. I just setup the scalper strategy on my TOS and have a few questions. @Raidertrader - I read that you use the Scalper strategy. I trade /NQ primarily and had a few questions about the scalper.
1. Do you enter the trade on the candle after the Cyan arrow as on the left of the image? Do you wait for the next candle to go above the high of the previous alert candle?
2. Do the yellow candles as in image below on the Scalper indicates not taking the trades or exit the trade?
3. I am assuming that green candles mean uptrend. I see green candles after the yellow candles when it is going down as towards the right side of the image. Can you please clarify.
4. What does the solid white line, solid green line, and yellow line indicate. I see the stoploss being on the yellow line. In the CC video I see the green and red lines and channels are support and resistance, but am not sure what it indicates in the scalper.
4. The levels are awesome. Do you use it as trailing stops?

Thanks so much!!

 

[eagle_ai]

@Christopher84 - I watched your video on the CC candles. I had stopped trading because of work issues. I looked at this thread and I can't believe the amout of work @Christopher84 has put in even after when I used the original CC candles. I just setup the scalper strategy on my TOS and have a few questions. @Raidertrader - I read that you use the Scalper strategy. I trade /NQ primarily and had a few questions about the scalper.
1. Do you enter the trade on the candle after the Cyan arrow as on the left of the image? Do you wait for the next candle to go above the high of the previous alert candle?
2. Do the yellow candles as in image below on the Scalper indicates not taking the trades or exit the trade?
3. I am assuming that green candles mean uptrend. I see green candles after the yellow candles when it is going down as towards the right side of the image. Can you please clarify.
4. What does the solid white line, solid green line, and yellow line indicate. I see the stoploss being on the yellow line. In the CC video I see the green and red lines and channels are support and resistance, but am not sure what it indicates in the scalper.
4. The levels are awesome. Do you use it as trailing stops?

Thanks so much!!

You can find the answers to your questions on page 1 of this thread (scroll down towards 3/4 of the page where he explains how TS strategy (basis for ScalperV3)

 

[Trader Raider]

Hi @Christopher84, I have a dumb qns, when using the scalper, is it possible to scan for the Buy or Signal using the strategy script? I got an error msg "too complex...." when i tried to do a scan.
Thanks

Have you tried scanning for the crossovers from the script? That can yield results for setups that are in the process of firing or recently fired (depending on the timeframe and whether you're running a fresh scan or waiting on a refresh of results in the sidebar).

Best wishes and happy trading.

 

[Trader Raider]

@Raidertrader - I read that you use the Scalper strategy. I trade /NQ primarily and had a few questions about the scalper.
1. Do you enter the trade on the candle after the Cyan arrow as on the left of the image? Do you wait for the next candle to go above the high of the previous alert candle?
2. Do the yellow candles as in image below on the Scalper indicates not taking the trades or exit the trade?
3. I am assuming that green candles mean uptrend. I see green candles after the yellow candles when it is going down as towards the right side of the image. Can you please clarify.
4. What does the solid white line, solid green line, and yellow line indicate. I see the stoploss being on the yellow line. In the CC video I see the green and red lines and channels are support and resistance, but am not sure what it indicates in the scalper.
4. The levels are awesome. Do you use it as trailing stops?

Thanks so much!!

If you are asking me, sorry, but I don't use that version of scalper (your image looks like v3). I need a chart without so many bubbles and lines (no disrespect intended to Christopher!) I like v2 and use it with fibs (drawn by hand before market open) to determine when price is likely to make a move at particular fib levels or other areas of price structure. I don't use candle color as much as I use price action and the percent bias of Scalper v2 to help place my stops, which I adjust manually rather than a trailing stop per se.

Not a very helpful answer for you, sorry. I think the best way to get familiar with the indicators is to plot them across multiple timeframes and watch how they react. Then fine-tune those aspects that help confirm your reading of the price action and don't chart those that don't.

Best wishes and happy trading.

 

[laflame]

@Christopher84 really appreciate all that you do for this community. Would it be possible to share a tos link for TS_Strategy_v9. For some reason I cant get your code to work.

 

[ALV]

@Christopher84 really appreciate all that you do for this community. Would it be possible to share a tos link for TS_Strategy_v9. For some reason I cant get your code to work.

TS_Strategy v9 is working fine. Please make sure you are loading the script in the strategy tab, not the study tab. Hope this help.

 

[graci117]

If you are asking me, sorry, but I don't use that version of scalper (your image looks like v3). I need a chart without so many bubbles and lines (no disrespect intended to Christopher!) I like v2 and use it with fibs (drawn by hand before market open) to determine when price is likely to make a move at particular fib levels or other areas of price structure. I don't use candle color as much as I use price action and the percent bias of Scalper v2 to help place my stops, which I adjust manually rather than a trailing stop per se.

Not a very helpful answer for you, sorry. I think the best way to get familiar with the indicators is to plot them across multiple timeframes and watch how they react. Then fine-tune those aspects that help confirm your reading of the price action and don't chart those that don't.

Best wishes and happy trading.

There is nothing not helpful! I am learning and every bit helps. Thanks for your response!

 

[graci117]

You can find the answers to your questions on page 1 of this thread (scroll down towards 3/4 of the page where he explains how TS strategy (basis for ScalperV3)

Thank you eagle_ai. I was looking at the instructions for Scalper and I didn't see it. I see that for the TS strategy and it should be the same. I am still not sure whey the green candles after the yellow when the price is going down as in the original picture about 3/4 moving left to right?

Thank you. Following your settings for "agperiod" 1 thru 6, I was able to get it work on 5min or less. I also set "mult" to 1 as I only trade stocks (based Christopher's comment in another post).

Thank you @Falout for sharing the grid and @eagle_ai for your comments. What do the multiple arrows mean and when is the entry supposed to be? Also, anyone using the scalper, if they could provide any guidance on how to use it and what works best, that will be great. I saw that there were no signals for SPX at least on Friday. Has anyone used in in conjunction with other indicators?

 

[Falout]

Thank you eagle_ai. I was looking at the instructions for Scalper and I didn't see it. I see that for the TS strategy and it should be the same. I am still not sure whey the green candles after the yellow when the price is going down as in the original picture about 3/4 moving left to right?


Thank you @Falout for sharing the grid and @eagle_ai for your comments. What do the multiple arrows mean and when is the entry supposed to be? Also, anyone using the scalper, if they could provide any guidance on how to use it and what works best, that will be great. I saw that there were no signals for SPX at least on Friday. Has anyone used in in conjunction with other indicators?

https://imgur.com/wVEybqV

https://imgur.com/ZHT39WI

This was Thursday 6/23/22. I generally don't trade before 11:00 A.M. New York time. So there were to entries on this day. The second entry I actually did not get stopped out because when I started the trade I used a conditional order with a 10 point stop and a 10 point take profit. Often times I will cancel the 10 point take profit and switch to moving my stop up 10 points each time I gain 10 points. The blue arrows show where I would have put my stop. 10 points below where it actually is each time I gain 10 points.

 

[graci117]

https://imgur.com/wVEybqV

https://imgur.com/ZHT39WI

This was Thursday 6/23/22. I generally don't trade before 11:00 A.M. New York time. So there were to entries on this day. The second entry I actually did not get stopped out because when I started the trade I used a conditional order with a 10 point stop and a 10 point take profit. Often times I will cancel the 10 point take profit and switch to moving my stop up 10 points each time I gain 10 points. The blue arrows show where I would have put my stop. 10 points below where it actually is each time I gain 10 points.

Thanks Falout for recapping your trade. Did you enter on the green line on the second CYAN arrow?

 

[Falout]

Thanks Falout for recapping your trade. Did you enter on the green line on the second CYAN arrow?

Yes that was my entry. The line is red for shorting, green for going long. The LE underneath the CYAN arrow is the scalper 2 reaffirming what the scalper 3 signaled with the first CYAN arrow 4 minutes prior. Just remember this can repaint because its multi-timeframe. I use the 4 minute chart because it seems to have the least repainting and the highest winning percentage.

 

[graci117]

Yes that was my entry. The line is red for shorting, green for going long. The LE underneath the CYAN arrow is the scalper 2 reaffirming what the scalper 3 signaled with the first CYAN arrow 4 minutes prior. Just remember this can repaint because its multi-timeframe. I use the 4 minute chart because it seems to have the least repainting and the highest winning percentage.

That cyan candle before was part of the puzzle I was not sure about. Thanks so much for clarifying that. I see that you have turned off the little white arrows. Do you know what those arrows mean?

 

[Falout]

That cyan candle before was part of the puzzle I was not sure about. Thanks so much for clarifying that. I see that you have turned off the little white arrows. Do you know what those arrows mean?

I think I just made all the arrows CYAN. The white arrows would be this part of Christopher's code. So it would have to do with Consensus.

def direction = if ConsensusR > Consensus_Bias then 1 else if ConsensusR < Consensus_Bias then -1 else 0;

plot buy = direction crosses above 0;
buy.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
buy.SetDefaultColor(Color.WHITE);

plot sell = direction crosses below 0;
sell.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN );
sell.SetDefaultColor(Color.WHITE);

 

[graci117]

I think I just made all the arrows CYAN. The white arrows would be this part of Christopher's code. So it would have to do with Consensus.

def direction = if ConsensusR > Consensus_Bias then 1 else if ConsensusR < Consensus_Bias then -1 else 0;

plot buy = direction crosses above 0;
buy.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
buy.SetDefaultColor(Color.WHITE);

plot sell = direction crosses below 0;
sell.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN );
sell.SetDefaultColor(Color.WHITE);

I think that's it. It gave a great signal on SPY this morning. I didn't take it though

 

[graci117]

It does repaint a lot even on the 4 minute timeframe

 

[Falout]

It does repaint a lot even on the 4 minute timeframe

I have been using this timer so I know when the candle is going to close. https://chris.dziemborowicz.com/apps/hourglass/ when it keeps flip flopping back and forth.

 

[ALV]

Thank you eagle_ai. I was looking at the instructions for Scalper and I didn't see it. I see that for the TS strategy and it should be the same. I am still not sure whey the green candles after the yellow when the price is going down as in the original picture about 3/4 moving left to right?


Thank you @Falout for sharing the grid and @eagle_ai for your comments. What do the multiple arrows mean and when is the entry supposed to be? Also, anyone using the scalper, if they could provide any guidance on how to use it and what works best, that will be great. I saw that there were no signals for SPX at least on Friday. Has anyone used in in conjunction with other indicators?

Hi @graci117 ,
The script includes instructions to color the candles: See elow:
##Candle Color
###################################
AssignPriceColor(if coloredCandlesOn and (TradePL > (biggestWin * .75)) then Color.YELLOW else if ((price > TrailingStop)) then Color.GREEN else if coloredCandlesOn and ((price < TrailingStop)) then Color.RED else Color.GRAY);

If the condition is not met but the price is still greater than the Trailing Stop, the candle remains GREEN.
Hope this help.

 

[graci117]

I have been using this timer so I know when the candle is going to close. https://chris.dziemborowicz.com/apps/hourglass/ when it keeps flip flopping back and forth.

Hi Falout - How does this help you with the repaint? I saw today that the entries appear sometimes even 4-5 candles after. At first I thought that I must have missed the signal, and then it happened again.