Confirmation Candles Indicator For ThinkorSwim

[Falout]

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.

Today was one of the worst I have seen for the repainting. I took the short at 11:04. Then I took a long position at 11:52 that then disappeared. Then took a long position again at 1:36 and it disappeared. What saved me Today was I got out as soon as I saw a CYAN arrow going the wrong direction. I think Christopher even mentions that somewhere in this thread or in the video that the arrows can be used as take profit or reversal signals. The timer I use because I usually enter on the close of the LE or SE candle. From what I have read on this site there seems to be 2 distinct types of repainting. #1 is when the candle is still forming. #2 is when it happens 4-5 candles later. I haven't seen anything better than Christopher's Scalpers for playing the /ES though.

https://imgur.com/ybyAfTr

 

[graci117]

Today was one of the worst I have seen for the repainting. I took the short at 11:04. Then I took a long position at 11:52 that then disappeared. Then took a long position again at 1:36 and it disappeared. What saved me Today was I got out as soon as I saw a CYAN arrow going the wrong direction. I think Christopher even mentions that somewhere in this thread or in the video that the arrows can be used as take profit or reversal signals. The timer I use because I usually enter on the close of the LE or SE candle. From what I have read on this site there seems to be 2 distinct types of repainting. #1 is when the candle is still forming. #2 is when it happens 4-5 candles later. I haven't seen anything better than Christopher's Scalpers for playing the /ES though.

https://imgur.com/ybyAfTr

Don't get me wrong. Christopher has put a tremendous amount of work into this and I appreciate it so much. And, I do appreciate your responses. I was just looking for advice as it was my first day trading with the scalper. It was maybe just a bad day for me to get started today
I may bother you again tomorrow

 

[graf]

Don't get me wrong. Christopher has put a tremendous amount of work into this and I appreciate it so much. And, I do appreciate your responses. I was just looking for advice as it was my first day trading with the scalper. It was maybe just a bad day for me to get started today
I may bother you again tomorrow

It was a bad day . Very choppy

 

[Trader Raider]

This is my latest version of Scalper v2 converted to easyLanguage. The only thing I changed was to color candles based on higher timeframe EMAs. This morning I was looking for a long on the M2K after it couldn't follow through below VWAP. I got in when consensus was 100% biased to the upside and price closed above the C3 line. As additional confluence, the Pro Go showed retail traders trapped short. There was some volatility instead of a straight shot to my targets. Even so, I kept adding on because of the confidence I have in the consensus bias. All contracts closed in profit.

Thank you again for sharing your indicators, @Christopher84. Scalper is the just the best!

https://imgur.com/a/CQ4aepR

 

[HODL-Lay-HE-hoo!]

@Trader Raider could you share your variation of scalper?

Is it possible to make a watchlist column showing the "squeeze" indication is present? Also a column for the "Spark 1/2/3"?

Honestly im not even sure what the spark 1/2/3 means if someone could enlighten me it would be greatly appreciated - I looked at the code and got lost in the sauce.

Anyway Confirmation Candles/Scalper GOES HARD! Christopher is a man amongst men.

 

[Gymini]

@Trader Raider could you share your variation of scalper?

Is it possible to make a watchlist column showing the "squeeze" indication is present? Also a column for the "Spark 1/2/3"?

Honestly im not even sure what the spark 1/2/3 means if someone could enlighten me it would be greatly appreciated - I looked at the code and got lost in the sauce.

Anyway Confirmation Candles/Scalper GOES HARD! Christopher is a man amon

@Trader Raider could you share your variation of scalper?

Is it possible to make a watchlist column showing the "squeeze" indication is present? Also a column for the "Spark 1/2/3"?

Honestly im not even sure what the spark 1/2/3 means if someone could enlighten me it would be greatly appreciated - I looked at the code and got lost in the sauce.

Anyway Confirmation Candles/Scalper GOES HARD! Christopher is a man amongst men.

Why would you want a watchlist column for Spark 1/2/3 if you dont know what it does lol?

 

[graf]

What is Spark?

 

[Trader Raider]

@graf, @HODL-Lay-HE-hoo!, did you know that the search function at the top right of this page allows you to search this thread? Here is Christopher's explanation of Spark. Here is a squeeze scan that you can run and have results update automatically in the sidebar. https://usethinkscript.com/threads/...cator-for-thinkorswim.6316/page-61#post-95131

Best wishes and happy trading.

 

[graf]

@graf, @HODL-Lay-HE-hoo!, did you know that the search function at the top right of this page allows you to search this thread? Here is Christopher's explanation of Spark. Here is a squeeze scan that you can run and have results update automatically in the sidebar. https://usethinkscript.com/threads/...cator-for-thinkorswim.6316/page-61#post-95131

Best wishes and happy trading.

Thanks. That will teach me not to skip a page

 

[Falout]

@Christopher84 is it possible to have alerts for Spark Up = 3 and Spark Down = 0?

 

[HODL-Lay-HE-hoo!]

ahh thank you good sir

 

[Trader Raider]

is it possible to have alerts for Spark Up = 3 and Spark Down = 0?

If I have TOS open, I really appreciate the Spark label but have often wondered how frequently TOS updates the calculation as the candle is forming.

For my TS platform, I created a Spark histogram to better watch the value gyrate in real time. It's also interesting to paint candles according to spark value and watch the color change during candle formation. It's a little cleaner than plotting the EMAs. I tested spark extensively as part of entry/exit criteria for my algos and ultimately removed it from the calculations but still find it useful information for discretionary trading.

Best wishes and happy trading!

 

[Trader Raider]

is it possible to have alerts for Spark Up = 3 and Spark Down = 0?

You got me curious to pull up some of my old Spark layouts. It looks like Spark fires 3 or 0 scores quite a bit when the overall consensus score isn't very high and price doesn't do much except chop around. But when Spark fires 3 or 0 and the consensus score is high, it is much more useful.

You didn't ask my opinion, but if I were to give it , I would say an alert with Sparks of 3 or 0 and corresponding high consensus scores would weed out a lot of alerts that may not be helpful. Or you could just eyeball the EMAs and decide if they are converging/diverging in a manner that is actionable.

Best wishes and happy trading.

 

[Falout]

You got me curious to pull up some of my old Spark layouts. It looks like Spark fires 3 or 0 scores quite a bit when the overall consensus score isn't very high and price doesn't do much except chop around. But when Spark fires 3 or 0 and the consensus score is high, it is much more useful.

You didn't ask my opinion, but if I were to give it , I would say an alert with Sparks of 3 or 0 and corresponding high consensus scores would weed out a lot of alerts that may not be helpful. Or you could just eyeball the EMAs and decide if they are converging/diverging in a manner that is actionable.

Best wishes and happy trading.

@Christopher84 You see this Christopher. { I would say an alert with Sparks of 3 or 0 and corresponding high consensus scores} I need this!!!

 

[Trader Raider]

@Falout, I thought of you this morning as I watched the charts. I plotted Spark scores of 3 and 0 on my candles since I hadn't paid attention to Spark lately. If I had traded based on Spark and consensus bias, I would have had a ton of heartburn! Fortunately, I took a trade based on Scalper's C3, EMAs, and consensus. In my opinion, it's the confluence of those three that makes Scalper so effective.

But we all see different things when we read a chart. And Scalper is customizable to individual styles of trading. If you use Spark alerts, I look forward to hearing your results. Personally, I rather visually inspect the EMAs and use that as a lens to interpret Scalper.

Best wishes and happy trading.

 

[Christopher84]

@Christopher84 You see this Christopher. { I would say an alert with Sparks of 3 or 0 and corresponding high consensus scores} I need this!!!

Hi @Falout!
I'll definitely see what I can put together for you.

 

[Falout]

@Falout, I thought of you this morning as I watched the charts. I plotted Spark scores of 3 and 0 on my candles since I hadn't paid attention to Spark lately. If I had traded based on Spark and consensus bias, I would have had a ton of heartburn! Fortunately, I took a trade based on Scalper's C3, EMAs, and consensus. In my opinion, it's the confluence of those three that makes Scalper so effective.

But we all see different things when we read a chart. And Scalper is customizable to individual styles of trading. If you use Spark alerts, I look forward to hearing your results. Personally, I rather visually inspect the EMAs and use that as a lens to interpret Scalper.

Best wishes and happy trading.

Thanks for letting me know @Trader Raider.

 

[Christopher84]

@Christopher84 You see this Christopher. { I would say an alert with Sparks of 3 or 0 and corresponding high consensus scores} I need this!!!

Hi @Falout,
So far this is what I'm seeing. In the image below the candles are being painted green if Consensus is > 10 and Spark >= 2, Red Consensus < -10 and Spark<2. The arrows fire when spark ==3 or spark == 0 with Consensus values of 10 or -10 respectively. If the candles are gray, they don't meet the threshold to be green or red. If anyone is interested I will be happy to share. Just let me know.

 

[Falout]

Hi @Falout,
So far this is what I'm seeing. In the image below the candles are being painted green if Consensus is > 10 and Spark >= 2, Red Consensus < -10 and Spark<2. The arrows fire when spark ==3 or spark == 0 with Consensus values of 10 or -10 respectively. If the candles are gray, they don't meet the threshold to be green or red. If anyone is interested I will be happy to share. Just let me know.

I will definitely try it out. I really like having alerts more for exits than entries because I cant have TOS in front of me all day. If everything is going against me I can just exit the trade.

 

[ALV]

Hi @Falout,
So far this is what I'm seeing. In the image below the candles are being painted green if Consensus is > 10 and Spark >= 2, Red Consensus < -10 and Spark<2. The arrows fire when spark ==3 or spark == 0 with Consensus values of 10 or -10 respectively. If the candles are gray, they don't meet the threshold to be green or red. If anyone is interested I will be happy to share. Just let me know.

I'm willing to try it out too. Scalping using your indicators whenever I'm able to trade.