Confirmation Candles Indicator For ThinkorSwim

I did notice there is built in STARC bands. Never used them before so I need to learn what the YCOB and YCOS does and how they move. But this is a good place to start. Thanks.

@Christopher84
I am looking at this on mobile and it doesn’t print the same as on the computer. I will take screenshots later

Another pattern question. I was looking at mnq during the rise and fall this month with and without extended hours and going through the code line by line.

I have noticed in essence the yellow/green line from your first page screenshot moves, along with the green/red zones as prices start coming down or moving up based on the “speed” in which they move.

With extended hours on 5 min chartI see the line didn’t move all day Sept 14, 2022 and I suspect it is because the gap down during cpi Sept 13, 2022 made the price fall too fast and the market had to take Sept 14,2022 to settle, hence the consolidation and choppiness but the line not move.

I happen to be up at 4 am Sept 15, 2022 EST and saw the line move down where the line now is now near the actual price candles (lack of speed due to Sept 14, 2022 chop day) so this would now be considered an overbought area. So now between the red zones and the line, those would be major resistances.

This, if the price were to go above the red zone today and the moving c3_mf_line from page 1 screenshot, along with confirmation, the red band would start wrapping upward.

On the flip side, if the line is green and oversold and the price breaks below thaf and the green zone, the green band wrapping would happen and the price may trend down.

Anything between the zones AND lines would be what happened during market sept 14,2022 NY (chop city)

Is that the gist of how this all works? If so, this will help greatly reduce the odds of being in a choppy market because those lines and zones won’t move when price doesn’t move or consensus of 5+ isn’t reached.

The lines and zones will reset during consolidation and once consensus 4+ is reached or the price starts moving beyond the zones AND the line the next trend is ready….?
 
Last edited:

Zlotko

Member
VIP
Hi @latinbori123456,
There are 2 different ways that the red (OB Zone) and green (OS Zones) will form. The first works very similarly to the calculation for the coloring of the Consensus Candles. It's taking a Consensus between 7 different studies on OB/OS conditions. If more than 4 of the studies agree on OB or OS condition, then the OB/OS Zone will begin to plot. The second way the zones can be triggered is a bit more complex and it involves the STARC and Keltner Channels. This is also used to determine the YCOB and YCOS lines. These occur when price has become heavily diverged from the average.
Congratulations on your 100% win rate! Your approach will work really well on lower timeframes where the bands activate much more frequently. A lot of traders find themselves in the contrarian mindset (whether intentionally or unintentionally), but the truth is when price is trending heavily, its not uncommon to see price maintain OB or OS conditions for extended periods of time. The old adage of the market can stay OB or OS longer than a trader can stay liquid applies well here. The trend almost always favors the most recently active OB or OS band. I hope this helps!
Christopher84: Could you please help me with version that is as accurate but taking as much as possible out of it and just have the buy sell signals arrows with start line, and stop line only. No targets or labels etc;
To save space an the monitor and CPU so it works faster and has less stuff on the monitor.
I could try to delete some of it but do not won't to mess it up.
Thanks
 

Trader Raider

Well-known member
VIP
I could try to delete some of it but do not won't to mess it up.
Why not comment out the code that you don't want to display? On page 1 of this thread, you can see an example of Christopher commenting out the first five lines of code on the very first indicator posted there. If you insert a # before the code for labels (or anything else you don't want to plot) you can prevent them from plotting while saving the code in case you want to add the labels back on the chart at a later date.

For example, scroll to the section of code that says AddLabel and then change it to #AddLabel. Save it and see if it clears away the label you wish to remove.

Just my 2 cents ... best wishes and happy trading.
 
Why not comment out the code that you don't want to display? On page 1 of this thread, you can see an example of Christopher commenting out the first five lines of code on the very first indicator posted there. If you insert a # before the code for labels (or anything else you don't want to plot) you can prevent them from plotting while saving the code in case you want to add the labels back on the chart at a later date.

For example, scroll to the section of code that says AddLabel and then change it to #AddLabel. Save it and see if it clears away the label you wish to remove.

Just my 2 cents ... best wishes and happy trading.

Add “input ShowLabels = yes;” (exclude the quotes) somewhere near the top.

Then search for “addlabel(“ (exclude quotes)

Most of them say “addlabel(yes,”

Replace the “yes” with “showlabels”
So it looks like this “addlabel(showlabels,” and leave everything after the comma alone

This will add a parameter in the study to turn off or on the labels by the users changing from yes to no”.

Below is what I did

#C3_Max_v2 Created by Christopher84 12/14/2021
#Last modified 4/11/2022 removed C3_MF_Line_Extension
# Based off of the Confirmation Candles Study. Main difference is that CC Candles weigh factors of positive
# and negative price movement to create the Consensus_Level. The Consensus_Level is considered positive if
# above zero and negative if below zero.

declare upper;

input price = CLOSE;
input ShortLength1 = 5;
input ShortLength2 = 14;
input ShortLength3 = 5;
input LongLength1 = 12;
input LongLength2 = 55;
input LongLength3 = 7;
input coloredCandlesOn = yes;
input showLabels = yes;


# Bollinger Resolution
def BBSMA = Average(price, length);
def BBSMAL = BBSMA + (-nBB * BBHalfWidth);
def BBSMAU = BBSMA + (nBB * BBHalfWidth);
def PerB = RoundUp((price - BBSMAL) / (BBSMAU - BBSMAL) * 100, 0);
AddLabel(showLabels, Concat("%B: ", PerB), if PerB < 0 then Color.YELLOW else if PerB > 0 and PerB[1] < 0 then Color.GREEN else Color.WHITE);


def Crossing1 = Crosses((MAMA > FAMA), yes);
#Crossing1.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

AddLabel(showLabels, Concat("MAMA: ", Concat("",
if MAMA > FAMA then "Bull" else "Bear")),

if MAMA > FAMA then Color.GREEN else Color.RED);

you get the idea.
 

Christopher84

Well-known member
VIP
Below are the Day chart and Month chart for the /es. Definitely keep an eye on the higher timeframes.
8VmJq8B.png

eIkt9hy.png
 

Christopher84

Well-known member
VIP
@Christopher84 I have seen some scans and watchlist options in this thread but not sure if there is any for scanning/watchlist of the TS, C3max, When they trigger so that we can be ready. I have missed some really good trades because I was too late to the party or at least I thought I was and was too skeeeerd to take the plunge. For instance, today TSLA triggered early on the TS 15m, The C3 Max 30m, PLD 15min as well as the PLD 3 min and I did not see it as I was constantly perusing every stock to find a setup. Do you have or can we make a scan that with alert us for your strategy that you are using ATM? Thanks again. I think I need your Venmo info..:p
Hi @METAL,
I used to rely on scans to find a lot more than I currently do. The truth is the scans tend to lag well behind the price action, which means typically the trader is late to the game. At the moment, I tend to watch a very small group of assets, which makes it extremely easy to spot when I see the right setup for a trade.
 
Christopher84: Could you please help me with version that is as accurate but taking as much as possible out of it and just have the buy sell signals arrows with start line, and stop line only. No targets or labels etc;
To save space an the monitor and CPU so it works faster and has less stuff on the monitor.
I could try to delete some of it but do not won't to mess it up.
Thanks
Christopher84: Could you please help me with version that is as accurate but taking as much as possible out of it and just have the buy sell signals arrows with start line, and stop line only. No targets or labels etc;
To save space an the monitor and CPU so it works faster and has less stuff on the monitor.
I could try to delete some of it but do not won't to mess it up.
Thanks
You can use the C3 MF line study (line only) and PLD with all plots disabled except for the arrows but the lower EMAD study helps a lot also I find.
 

Tej_Pra

New member
VIP
How to change C3 MF line to little longer EMAs. I feel price action is too close to C3 MF line which doesnt working for my strategy.
 
You can use various versions on mobile but the C3 line will not work among other things… still useful though. I generally use the following on mobile:

Confirmation candles (with only the Int S&R & Near Term S&R lines showing - you will have to change the colors as they are all the same color on mobile for some reason)

I do use scalper with arrows it works well (change the colors) just sometimes the scaling can be weird so I switch to confirmation candles instead but I do prefer scalper

PLD - line and arrows with the entry horizontal line and a target or two

EMAD lower - you have to change the colors as they too are all the same color when loaded in mobile
 

eagle_ai

New member
VIP
I agree. That would be very cool.
Christopher84 could also help me with version that is as accurate but taking as much as possible out of it and just have the buy sell signals arrows with start line, and stop line only. No targets or labels etc;
To save space an the monitor and CPU so it works faster and has less stuff on the monitor.
I could try to delete some of it but do not won't to mess it up.
Thanks
You can simply turn off all target lines, labels and bubbles in the setting of the strategy (without having to do anything to the code)
 

eagle_ai

New member
VIP
After rigorously live testing TS, PLD, Scalper_v3, I've settled (and quite happy) with the combo of...

1. C3_MAX_v2 - all original settings with arrows turned off (C3_MAX_v2 does the bars painting exclusively)
2. Scalper_v3 - with nothing but the arrows + entry/SL lines turned on
3. PLD (just the cyan PLD line alone, nothing else [everything else commented out in the PLD code])

*Note:
-When the original PLD is used together with C3_MAX_v2, those extremely crucial Green x-OS and Yellow x-OB lines (painted by C3_MAX_v2) are Not shown (these lines help me avoid getting burned). Also, I have to remind myself to always look to the left for previous entry/SL lines which proves to be very accurate (additional) S/R levels.

-The PLD line helps me avoid getting burned when the price decides to retest a lower/higher level after my entries (of course with the confirmation of higher timeframes) REGARDLESS of Scalper's arrows and entry lines.

MO69hfU.png
 
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eagle_ai

New member
VIP
I use C3 Max Spark + Triple Exhaustion (colored candles off only show arrows) + PLD line and arrows (converted to study) + EMAD lower = gold
Instead of Triple Exhaustion, try AsGoodAsItGets. Triple Exhaustion gives too many false (severely at the wrong place, at the wrong time) signals. Even with AsGoodAsItGets (and tons of others that give signals), I've never made entries based on their arrows because so often the price decides to bounce/drop beyond those arrows in a blink of an eye. The arrows are so powerfully distracting that one may forget to look at a higher timeframe to confirm. PLD cyan line (by itself and confirmed by a higher timeframe, plus other factors like S/R) gives me much more confidence to enter. Happy trading
 

hotwins

New member
hello,

I saw someone said this can be used on mobile. anyone can help bcuz I have a daily job which can't monitor it on desktop. Thanks.
 
hello,

I saw someone said this can be used on mobile. anyone can help bcuz I have a daily job which can't monitor it on desktop. Thanks.

Yes it can however not with full functionality. No labels, no C3 line, & you will have to change the colors because for some reason all the green and red lines are all pink.

Just add the study on your app and change the colors comparing it to your computer version.
 
Instead of Triple Exhaustion, try AsGoodAsItGets. Triple Exhaustion gives too many false (severely at the wrong place, at the wrong time) signals. Even with AsGoodAsItGets (and tons of others that give signals), I've never made entries based on their arrows because so often the price decides to bounce/drop beyond those arrows in a blink of an eye. The arrows are so powerfully distracting that one may forget to look at a higher timeframe to confirm. PLD cyan line (by itself and confirmed by a higher timeframe, plus other factors like S/R) gives me much more confidence to enter. Happy trading
Interesting… I’ll have to look into as good as it gets again… though I know it repaints. I will have to post a screenshot when I get around my computer. I really only care about the triple exhaustion arrows in context of C3 Max specifically when a horizontal supply/demand zone forms + supply demand zone tested + C3 Line color PLD band (5&-5… I think) + EMAD lower above/below zero &/or EMAD EMA direction + Triple Exhaustion Arrows… I do have the c3 max arrows on - of course I use 2 and sometimes more timeframes for confirmation…

That being said I would love to be able to filter out some C3 arrows that are plotting against the higher timeframe trend… I know the ema adjustment will change the way the arrows plot but I would prefer to keep my current settings and have it only effect the arrows as it would also effect the grey candles (C3 Max Spark) among other things… maybe I can separate the arrows onto a different study that way the ema adjustment would only be effect the arrows. Hmmm?

I have also been attempting to modify code to plot an arrow when the C3 max spark arrow is within x number of bars of the triple exhaustion arrow from multiple timeframes… which may be completely impossible or worthless but idk I’m new to modifying code.
 
Interesting… I’ll have to look into as good as it gets again… though I know it repaints. I will have to post a screenshot when I get around my computer. I really only care about the triple exhaustion arrows in context of C3 Max specifically when a horizontal supply/demand zone forms + supply demand zone tested + C3 Line color PLD band (5&-5… I think) + EMAD lower above/below zero &/or EMAD EMA direction + Triple Exhaustion Arrows… I do have the c3 max arrows on - of course I use 2 and sometimes more timeframes for confirmation…

That being said I would love to be able to filter out some C3 arrows that are plotting against the higher timeframe trend… I know the ema adjustment will change the way the arrows plot but I would prefer to keep my current settings and have it only effect the arrows as it would also effect the grey candles (C3 Max Spark) among other things… maybe I can separate the arrows onto a different study that way the ema adjustment would only be effect the arrows. Hmmm?

I have also been attempting to modify code to plot an arrow when the C3 max spark arrow is within x number of bars of the triple exhaustion arrow from multiple timeframes… which may be completely impossible or worthless but idk I’m new to modifying code.
So I added “As good as it gets” and will watch it during market hours. I had written it off due to repainting however I read @MerryDay ’s comment concerning the speed at which repainting indicators indicate reversal when combined with price action analysis can be very useful.
 

hotwins

New member
Yes it can however not with full functionality. No labels, no C3 line, & you will have to change the colors because for some reason all the green and red lines are all pink.

Just add the study on your app and change the colors comparing it to your computer version.
thanks. still not getting it. doesn't know.... would you share the grip indicator which V. you plotted to the mobile. thanks.
 

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