Confirmation Candles Indicator For ThinkorSwim

[Christopher84]

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

Hi @ALV and @Falout
Here's a share link for my first attempt at C3_MaxSpark. See what you think.
https://tos.mx/MQGTrc3

 

[ALV]

Hi @ALV and @Falout
Here's a share link for my first attempt at C3_MaxSpark. See what you think.
https://tos.mx/MQGTrc3

@Christopher84:
Thank you so much!! Just saw your message and opened the shared item. Looks great. Would have taken this morning the 10:00am arrow signals from 5 & 2 mins charts (with additional confirmation). The arrow is also showing up in your 3 mins chart above. I believe that the rest of the day will be slow to test it. Let's see. Anyway I will play with it during the weekend. Thank you again for sharing your knowledge and helping us in this journey!

 

[latinbori123456]

I used this indicator on the 1 min chart in SPY along with https://usethinkscript.com/threads/...kout-breakdown-indicator-for-thinkorswim.103/ and the c3 max.

First time I traded spy 3 times on the 1 min chart while working a FT job EVER. All of them were profits today. One was 100%, one was 200.%c and the other was 10.%

 

[ALV]

I used this indicator on the 1 min chart in SPY along with https://usethinkscript.com/threads/...kout-breakdown-indicator-for-thinkorswim.103/ and the c3 max.

First time I traded spy 3 times on the 1 min chart while working a FT job EVER. All of them were profits today. One was 100%, one was 200.%c and the other was 10.%

@latinbori123456 ;
Saludos! Glad you were able to go 3 for 3 from work. That is excellent.
Just to be clear, which indicator are you referring to? C3_MaxSpark sent by Christopher84 in message 1521? Can you post a picture of your chart?
Thanks.

 

[latinbori123456]

@latinbori123456 ;
Saludos! Glad you were able to go 3 for 3 from work. That is excellent.
Just to be clear, which indicator are you referring to? C3_MaxSpark sent by Christopher84 in message 1521? Can you post a picture of your chart?
Thanks.

I’ll put a pick up later this week. Just to warn you, it’s complete overkill.

2 sets of Bollinger bands, the c3 max from page 1 of this thread, the confirmation candles v10 with some custom adjustments made on my end, VWAP, the consolidation box that does a good job of drawing dibs as well, a smoothed Heiken ashi chart, ttm squeeze, rsi, stochastic rsi, 2 sets of ttm waves, MTF MACD and stochastic labels, volume pressure with hot percentage, balanced breakout indicators.

5/21/50/200 SMA
8/21 EMA.

A position size calculator

my overnight research also has OBV modified and MFI
They are all things that came with thinkorswim or things I found here.

It’s a lot. However, I built custom scanners that do 95% of the legwork to find stocks based on various conditions from multiple indicators. The other 5 is me going through them, finding a good ticker, mapping out support and resistance, and placing conditional orders with buy/short orders that trigger OCO for a stop loss or price target.

So once my order triggers I don’t have to do anything. I let the orders play out

I go for base hits so most of my long entries are in the middle of a consolidation with a stop loss a few ticks below the bottom of the consolidation box, and my PT are a few ticks below the low of the next consolidation box or where one of auto fibs are.

I use the c3 max signals from this thread to scalp or find day trades or add to my custom scanners.

It took me a little over 1 year, which is how long I’ve been trading and losing money up until recently.

my account is still red but I have yet to blow up my account. I just started March 2021 right when the OTC market started crashing and was forced to learn a lot of hard lessons very fast.

 

[Kislayakanan]

I’ll put a pick up later this week. Just to warn you, it’s complete overkill.

2 sets of Bollinger bands, the c3 max from page 1 of this thread, the confirmation candles v10 with some custom adjustments made on my end, VWAP, the consolidation box that does a good job of drawing dibs as well, a smoothed Heiken ashi chart, ttm squeeze, rsi, stochastic rsi, 2 sets of ttm waves, MTF MACD and stochastic labels, volume pressure with hot percentage, balanced breakout indicators.

5/21/50/200 SMA
8/21 EMA.

A position size calculator

my overnight research also has OBV modified and MFI
They are all things that came with thinkorswim or things I found here.

It’s a lot. However, I built custom scanners that do 95% of the legwork to find stocks based on various conditions from multiple indicators. The other 5 is me going through them, finding a good ticker, mapping out support and resistance, and placing conditional orders with buy/short orders that trigger OCO for a stop loss or price target.

So once my order triggers I don’t have to do anything. I let the orders play out

I go for base hits so most of my long entries are in the middle of a consolidation with a stop loss a few ticks below the bottom of the consolidation box, and my PT are a few ticks below the low of the next consolidation box or where one of auto fibs are.

I use the c3 max signals from this thread to scalp or find day trades or add to my custom scanners.

It took me a little over 1 year, which is how long I’ve been trading and losing money up until recently.

my account is still red but I have yet to blow up my account. I just started March 2021 right when the OTC market started crashing and was forced to learn a lot of hard lessons very fast.

@latinbori123456 : Can you please share your strategy on how you use the c3 max signal for scalping.

1. What time frame do you use?
2. What is your strategy for entry and exist?
3. Which version of c3 max you use?

Thanks a lot.

 

[latinbori123456]

@latinbori123456 : Can you please share your strategy on how you use the c3 max signal for scalping.

1. What time frame do you use?
2. What is your strategy for entry and exist?
3. Which version of c3 max you use?

Thanks a lot.

Since I work FT, I use daily charts as my base. C3 max on the first page

@latinbori123456 : Can you please share your strategy on how you use the c3 max signal for scalping.

1. What time frame do you use?
2. What is your strategy for entry and exist?
3. Which version of c3 max you use?

Thanks a lot.

I use “
C3_Max_v2 Created by Christopher84 12/14/2021
#Last modified 4/11/2022” from the first page of this thread with the default values.

For scalps I use 1 min for entry and exits, the 5 min to gauge the intermediate trend, and 30 minute got supertrend.

For swings I use the 1 hour for entry and exit, the daily for intermediate trend, and weekly for supertrend.

Any histogram based indicator I look for histograms near the 0 area.

For long positions I want the macd, short term ttm wave, and ttm squeeze histograms to be negative but close to zero with progressively shrinking histograms on the fastest timeframe out of the 3. This will usually indicate the bottom of a play, potential support forming, and potential reversal but only if the intermediate trend is indeed trending. Follow the inverse for besrish trades.

I use the c3 max to wait for a signal to be generated, and very with macd, ttm, and rsi are all in the same direction of the trade I want.

If I see a signal and all the indicators are diverging in the same direction from a besrish trend, this usually indicates a bottom with reversal.

I also use the confirmation candles on this thread to see where the supply and demand consolidation zones are.

If my intention is for a scalp, I will watch for the green support to form and look at all these indicators and signals bc it almost always reverses. I will put an exit a few ticks below the bottom of the red resistance from the confirmation candles to scale out.

then if it hits a consolidation red zone and stays there, I’ll set a stop loss a few ticks below the zone so in the even short sellers crash the stock in the supply zone I’ll lock in profits.

If it breaks out I do the same thing in the next supply area.

If I happen to see a sell signal generated, I will also set stop losses just in case.

To be honest, the c3 max from April is the simplest way. It’s pretty reliable.

I also, when creating orders to enter, i will enter a 1st trigger OCO order all the time.

The 1st order is for entry and the OCO is for a stop loss GTC or limit sell GTC.

I also will NEVER enter into a bullish position if the On balance volume modified did not cross over the signal line or NEVER enter a besrish if the OBV did not already death cross.

 

[latinbori123456]

Since I work FT, I use daily charts as my base. C3 max on the first page

I use “
C3_Max_v2 Created by Christopher84 12/14/2021
#Last modified 4/11/2022” from the first page of this thread with the default values.

For scalps I use 1 min for entry and exits, the 5 min to gauge the intermediate trend, and 30 minute got supertrend.

For swings I use the 1 hour for entry and exit, the daily for intermediate trend, and weekly for supertrend.

Any histogram based indicator I look for histograms near the 0 area.

For long positions I want the macd, short term ttm wave, and ttm squeeze histograms to be negative but close to zero with progressively shrinking histograms on the fastest timeframe out of the 3. This will usually indicate the bottom of a play, potential support forming, and potential reversal but only if the intermediate trend is indeed trending. Follow the inverse for besrish trades.

I use the c3 max to wait for a signal to be generated, and very with macd, ttm, and rsi are all in the same direction of the trade I want.

If I see a signal and all the indicators are diverging in the same direction from a besrish trend, this usually indicates a bottom with reversal.

I also use the confirmation candles on this thread to see where the supply and demand consolidation zones are.

If my intention is for a scalp, I will watch for the green support to form and look at all these indicators and signals bc it almost always reverses. I will put an exit a few ticks below the bottom of the red resistance from the confirmation candles to scale out.

then if it hits a consolidation red zone and stays there, I’ll set a stop loss a few ticks below the zone so in the even short sellers crash the stock in the supply zone I’ll lock in profits.

If it breaks out I do the same thing in the next supply area

Since I work FT, I use daily charts as my base. C3 max on the first page

I use “
C3_Max_v2 Created by Christopher84 12/14/2021
#Last modified 4/11/2022” from the first page of this thread with the default values.

For scalps I use 1 min for entry and exits, the 5 min to gauge the intermediate trend, and 30 minute got supertrend.

For swings I use the 1 hour for entry and exit, the daily for intermediate trend, and weekly for supertrend.

Any histogram based indicator I look for histograms near the 0 area.

For long positions I want the macd, short term ttm wave, and ttm squeeze histograms to be negative but close to zero with progressively shrinking histograms on the fastest timeframe out of the 3. This will usually indicate the bottom of a play, potential support forming, and potential reversal but only if the intermediate trend is indeed trending. Follow the inverse for besrish trades.

I use the c3 max to wait for a signal to be generated, and very with macd, ttm, and rsi are all in the same direction of the trade I want.

If I see a signal and all the indicators are diverging in the same direction from a besrish trend, this usually indicates a bottom with reversal.

I also use the confirmation candles on this thread to see where the supply and demand consolidation zones are.

If my intention is for a scalp, I will watch for the green support to form and look at all these indicators and signals bc it almost always reverses. I will put an exit a few ticks below the bottom of the red resistance from the confirmation candles to scale out.

then if it hits a consolidation red zone and stays there, I’ll set a stop loss a few ticks below the zone so in the even short sellers crash the stock in the supply zone I’ll lock in profits.

If it breaks out I do the same thing in the next supply area.

If I happen to see a sell signal generated, I will also set stop losses just in case.

To be honest, the c3 max from April is the simplest way. It’s pretty reliable.

I also, when creating orders to enter, i will enter a 1st trigger OCO order all the time.

The 1st order is for entry and the OCO is for a stop loss GTC or limit sell GTC.

I also will NEVER enter into a bullish position if the On balance volume modified did not cross over the signal line or NEVER enter a besrish if the OBV did not already death cross.

I know this all sounds like alot, but the idea is you want as many indicators to all go in the same direction as possible. I can process all this information pretty quickly so it’s not hard for me. But is information overload for most people.

The other thing is I built scanners to use at least 5 indicators that monitor various things to only return tickers that meet very specific requirements.

Bullish:
Rsi had to be above 30
MACD/ttm squeeze, ttm wave1 has to have 3 consecutive smaller negative histograms or bigger positive hisotgrams
price has to open above 5 or 22 period sma and ema (shorter timeframe is riskier but earlier to catch potential reversals)
OBV has to be above signal

5 period sma and ema must be above the 21 period sma and ema.
The below smoothed Heiken ashi has to generate a buy signal within the past 5 periods

https://usethinkscript.com/threads/smoothed-heikin-ashi-for-thinkorswim.216/page-3#post-86135

Avg 21 day volume has to be over 2million and there has to be a spike of daily volume of over 200% or more than the 30 days avg from below.

https://usethinkscript.com/threads/volume-buy-sell-pressure-with-hot-percent-for-thinkorswim.389/

 

[ALV]

Since I work FT, I use daily charts as my base. C3 max on the first page

I use “
C3_Max_v2 Created by Christopher84 12/14/2021
#Last modified 4/11/2022” from the first page of this thread with the default values.

For scalps I use 1 min for entry and exits, the 5 min to gauge the intermediate trend, and 30 minute got supertrend.

For swings I use the 1 hour for entry and exit, the daily for intermediate trend, and weekly for supertrend.

Any histogram based indicator I look for histograms near the 0 area.

For long positions I want the macd, short term ttm wave, and ttm squeeze histograms to be negative but close to zero with progressively shrinking histograms on the fastest timeframe out of the 3. This will usually indicate the bottom of a play, potential support forming, and potential reversal but only if the intermediate trend is indeed trending. Follow the inverse for besrish trades.

I use the c3 max to wait for a signal to be generated, and very with macd, ttm, and rsi are all in the same direction of the trade I want.

If I see a signal and all the indicators are diverging in the same direction from a besrish trend, this usually indicates a bottom with reversal.

I also use the confirmation candles on this thread to see where the supply and demand consolidation zones are.

If my intention is for a scalp, I will watch for the green support to form and look at all these indicators and signals bc it almost always reverses. I will put an exit a few ticks below the bottom of the red resistance from the confirmation candles to scale out.

then if it hits a consolidation red zone and stays there, I’ll set a stop loss a few ticks below the zone so in the even short sellers crash the stock in the supply zone I’ll lock in profits.

If it breaks out I do the same thing in the next supply area.

If I happen to see a sell signal generated, I will also set stop losses just in case.

To be honest, the c3 max from April is the simplest way. It’s pretty reliable.

I also, when creating orders to enter, i will enter a 1st trigger OCO order all the time.

The 1st order is for entry and the OCO is for a stop loss GTC or limit sell GTC.

I also will NEVER enter into a bullish position if the On balance volume modified did not cross over the signal line or NEVER enter a besrish if the OBV did not already death cross.

@latinbori123456 -
Thanks for the information provided.
When you mention OBV modified, what modification(s) are you referring to?
Thank you

 

[latinbori123456]

@latinbori123456 -
Thanks for the information provided.
When you mention OBV modified, what modification(s) are you referring to?
Thank you

https://tlc.thinkorswim.com/center/...s/studies-library/O-Q/OnBalanceVolumeModified

https://youtube.com/channel/UCRKoXeObvJ1BtjHFAMEaXFw

 

[ALV]

https://tlc.thinkorswim.com/center/...s/studies-library/O-Q/OnBalanceVolumeModified

https://youtube.com/channel/UCRKoXeObvJ1BtjHFAMEaXFw

@latinbori123456
Saludos,
Thanks for the reference. I thought that you modified the OBV settings in some way but that is the name of the indicator. Cool.
I'm glad that this setup works for you providing acceptable results even if you are working. Keep it green!

 

[burke3472]

@Christopher84

It seems the Buy and Sell signal only shows on 1min and 2min time frame for Scalper Upper v2. Is that possible to make them shown on all time frame? Thanks.

 

[phatboyz]

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

Can you show us how to change the candle color pls

 

[METAL]

Can you show us how to change the candle color pls

Hey Phat, Thanks for the info. Would you mind sharing your setup that you show. I am trying to get it but the Scalper V2 that I see looks different. Thanks in advance. Also, It would be GREAT if the forum would have a main forum header that was called "RESULTS" or something so that all of can post what we have tried and the results.

 

[Sbollapa]

@Christopher84 Thanks for sharing your indicators with us. finally able to complete all 77 pages and watching the 1hr video and taking notes along the way.
Couple of questions (I did search the thread, but excuse me if I miss) - Am using TS_strategy_V9 & Ehler's coeff strategy
1. When both are enabled yellow candles are not seen even when I set colored Candles in Ehler to No. Yellow candles show up only when I remove Ehlers coeff strategy
2. Am trying to find ideal settings for diff times (3/15, 5/30min etc) - what factors decide the best? Is it the Profit Percentile/Winners/Long, Short profit/Avg per trade?
I plan to paper trade for this week with only handful of equities

 

[Trader Raider]

finally able to complete all 77 pages and watching the 1hr video and taking notes along the way ... I plan to paper trade for this week with only handful of equities

Just wanted to commend you for taking time to read Best wishes as you watch Christopher's indicators play out on your screen this week. Hope you find them useful!

 

[Trader Raider]

Can you show us how to change the candle color pls

Apologies, but I cannot because I have been unable to learn thinkScript. All my customization is done in easyLanguage.

If I were to attempt thinkscript, I would de-select the color candles option in the Scalper settings. Then I would modify one of the many colored candle scripts on this site, such as this one. Then, instead of using RSI-based definitions as that script uses, I would substitute EMA definitions and rules. I'd also include a few rules related to closes above/below the C3.

Sorry, that's as helpful as I can be.

Oh, I should also add that coloring candles as I do has no real advantage except to clear a few lines off my chart. The way Christopher colors them in the Scalper is perfectly fine

 

[METAL]

@Christopher84 Thanks for sharing your indicators with us. finally able to complete all 77 pages and watching the 1hr video and taking notes along the way.
Couple of questions (I did search the thread, but excuse me if I miss) - Am using TS_strategy_V9 & Ehler's coeff strategy
1. When both are enabled yellow candles are not seen even when I set colored Candles in Ehler to No. Yellow candles show up only when I remove Ehlers coeff strategy
2. Am trying to find ideal settings for diff times (3/15, 5/30min etc) - what factors decide the best? Is it the Profit Percentile/Winners/Long, Short profit/Avg per trade?
I plan to paper trade for this week with only handful of equities

Sb, Can you please direct me to the video that you watched. I cannot locate a video reference anywhere. I have went through all 77 pages and must have missed it.

 

[Sbollapa]

Sb, Can you please direct me to the video that you watched. I cannot locate a video reference anywhere. I have went through all 77 pages and must have missed it.

It is on the first page https://usethinkscript.com/threads/confirmation-candles-indicator-for-thinkorswim.6316/

 

[METAL]

It is on the first page https://usethinkscript.com/threads/confirmation-candles-indicator-for-thinkorswim.6316/

OMG. Apparently I went right by it and thought it was deeper in the thread. Thanks!