Confirmation Candles Indicator For ThinkorSwim

Christopher84

Well-known member
VIP
@Christopher84 What do you suggest setting the multipliers of PLD Bands and TS_V9 to for the SPX. I cannot find if you addressed this.
Thanks.
Hi @METAL,
Mult (short for multiplier) for SPX should be set to 1. An easy way of figuring this out if you are unsure, is to look at the strategy entries and exits (it will call out the multiplier). Below is the chart for SPX, and on the entries and exits you will see 1 and -1. If this were the /es, you would see 1 (50) or -1 (-50), meaning that the multiplier should be set to 50. For /mes and /btc you will see 1 (5) and -1 (-5) indicating multiplier of 5 for these assets. I hope this helps!
Jp8nIQw.png
 

METAL

Active member
Hi @METAL,
Mult (short for multiplier) for SPX should be set to 1. An easy way of figuring this out if you are unsure, is to look at the strategy entries and exits (it will call out the multiplier). Below is the chart for SPX, and on the entries and exits you will see 1 and -1. If this were the /es, you would see 1 (50) or -1 (-50), meaning that the multiplier should be set to 50. For /mes and /btc you will see 1 (5) and -1 (-5) indicating multiplier of 5 for these assets. I hope this helps!
Jp8nIQw.png
Oh Okay. Thanks. I didn't notice that the "call out" was related to the Mult. 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.

Ok sorry it took so long… this is how to change mobile settings to look right-ish

(YHextlineOB & YHextlineOS are off unfortunately it causes some scaling issues on mobile - I have tried to adjust the line limits but nothing worked so I turn them off)

The dashed lines on my chart are the confirmation candles study “near term support & resistance” lines… so everything else turned off (of course I just deleted everything except the code needed for the lines but works either way)

Hope this helps!
 
thanks. still not getting it. doesn't know.... would you share the grip indicator which V. you plotted to the mobile. thanks.

(YHextlineOB & YHextlineOS are off unfortunately it causes some scaling issues on mobile - I have tried to adjust the line limits but nothing worked so I turn them off)

The dashed lines on my chart are the confirmation candles study “near term support & resistance” lines… so everything else turned off (of course I just deleted everything except the code needed for the lines but works either way)

Hope this helps!
@hotwins
 

Christopher84

Well-known member
VIP
@Christopher84
Christopher… who rolls on 84s… (pretty sure the 84 is in reference to his spiked rims) is the line limits adjustment for all lines? I would like to limit the length of the orange and light green dashed lines so they don’t effect the scaling on mobile as much.
Hi @HODL-Lay-HE-hoo!,
If I'm understanding you correctly, the adjustment for the length of those lines is BulgeLengthPrice2 (top line NearTResistance) and SqueezeLengthPrice2 (bottom line NearTSupport). Hope this helps!
 

GiantBull

New member
@Christopher84 I have been your using your indicator and have had the best trading results I've ever had. I have two 2 questions that I wanted to ask:

1. The candles switch colors many times during a trend so when do you determine that the trend is near an end and a reversal might happen? Do you use other indicators? Support/resistance? Combo of both?

2. Is there a way you can make a tutorial on how you combined all these indicators in thinkscript? I know I might be asking a lot here but the coding is so well done. I would really love to learn how you coded this script so in the future I can possibly make a script for indicators that I personally like.
 

Christopher84

Well-known member
VIP
@Christopher84 I have been your using your indicator and have had the best trading results I've ever had. I have two 2 questions that I wanted to ask:

1. The candles switch colors many times during a trend so when do you determine that the trend is near an end and a reversal might happen? Do you use other indicators? Support/resistance? Combo of both?

2. Is there a way you can make a tutorial on how you combined all these indicators in thinkscript? I know I might be asking a lot here but the coding is so well done. I would really love to learn how you coded this script so in the future I can possibly make a script for indicators that I personally like.
Hi @GiantBull!
1. The trend is determined by previous price action, not the currently open candle (the candle needs to close). Strategies operate under the same premise. Use the higher timeframe charts to determine the overall trend. Support and resistance levels are crucial. I use my own indicators to determine the S/R levels, although there are numerous ways of doing this.

2. I would like to start by saying there are so many resources on usethinkscript, which are ideal for learning. Much of what I learned on thinkscripting came from this very site. I would be happy to chat sometime on discord if it would help get you going in the right direction. Thank you for your kind words. Happy trading @GiantBull!
 

bradolson

New member
VIP
1 hour chart for the /es using TS_Analysis v9 set to 5, 3.1 is doing extremely well. 50.49% win rate.🔥🔥
HyPWdRx.png
1 hour chart for the /es using TS_Analysis v9 set to 5, 3.1 is doing extremely well. 50.49% win rate.🔥🔥
HyPWdRx.png

Hi Christopher- Thank you for all of your effort. I've learned a lot from your video and in this thread. In your post above, you noted that TS_v9 had a 50.49% win rate. I've posted an image below, also from a chart today, which shows a 38.69% win rate. Wondering if you could help me figure out why there's a difference? Maybe I don't have all of the same settings??

I'm using:

TS_strategy_v9 code is from page 1 of the thread
/es
1 hour, 360 day
atr period = 5
atr factor = 3.1
mult = 50
extended hours = off

Thanks

KQm8OMP.jpg
 

Christopher84

Well-known member
VIP
Hi Christopher- Thank you for all of your effort. I've learned a lot from your video and in this thread. In your post above, you noted that TS_v9 had a 50.49% win rate. I've posted an image below, also from a chart today, which shows a 38.69% win rate. Wondering if you could help me figure out why there's a difference? Maybe I don't have all of the same settings??

I'm using:

TS_strategy_v9 code is from page 1 of the thread
/es
1 hour, 360 day
atr period = 5
atr factor = 3.1
mult = 50
extended hours = off

Thanks

KQm8OMP.jpg
Hi @bradolson!
Great question! The issue is in your chart settings. Under the Futures tab in settings, turn off start aggregation at market open. This should remedy the difference that you are seeing. Hope this helps!
 

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