Confirmation Candles Indicator For ThinkorSwim

[MichaelR]

Thread 'Volume Buy Sell Pressure with Hot Percent for ThinkorSwim'
https://usethinkscript.com/threads/volume-buy-sell-pressure-with-hot-percent-for-thinkorswim.389/

Hi HODL-Lay-HE-hoo!, are you almost done with the revisions to the C4_Max_V5?

 

[Madhu]

Thread 'Volume Buy Sell Pressure with Hot Percent for ThinkorSwim'
https://usethinkscript.com/threads/volume-buy-sell-pressure-with-hot-percent-for-thinkorswim.389/

Thank you so much

 

[HODL-Lay-HE-hoo!]

Thank you so much

I hit a road block at the moment awaiting an answer to a question in the “How to code a breakout” thread. Basically it is plotting too many arrows and I need to be able to plot a single arrow when multiple different crosses happen within x number of bars.

The screen shots look pretty good but are not very consistent overall but will definitely share an update soon.

 

[MichaelR]

Thank you. I appreciate all your help.

 

[HODL-Lay-HE-hoo!]

Thank you. I appreciate all your help.

Ok so here is what I have thus far... I renamed some of the breakout arrows so reflect the C3 Lines. I have yet to create the breakout code in order to yield less arrows but all the basic crossovers are in this version. An arrow is plotted when the close wick or body of a candle crosses a level then crosses back the opposite way "dip then rise" "rise then dip" within x number of bars is the basic concept from the "how to code a breakout" thread/code. There are inputs for each support resistance line where you can adjust the length "Bars_Back_x" and Inputs for each to choose wick close or body to use for the crossover. (i have been trying various bars back numbers so try very low numbers and high numbers... this has not been tested. I will also be posting the same study as a mobile version (it does not work with Bull Bear v5 on mobile so it will be commented out)

Let me know if you see anything interesting... will post the next revision when I finish it. Thanks for taking a look.

http://tos.mx/WNBp8BI

Hey @Christopher84 the bars back being set to a high number should not cause repainting correct??

 

[MichaelR]

Ok so here is what I have thus far... I renamed some of the breakout arrows so reflect the C3 Lines. I have yet to create the breakout code in order to yield less arrows but all the basic crossovers are in this version. An arrow is plotted when the close wick or body of a candle crosses a level then crosses back the opposite way "dip then rise" "rise then dip" within x number of bars is the basic concept from the "how to code a breakout" thread/code. There are inputs for each support resistance line where you can adjust the length "Bars_Back_x" and Inputs for each to choose wick close or body to use for the crossover. (i have been trying various bars back numbers so try very low numbers and high numbers... this has not been tested. I will also be posting the same study as a mobile version (it does not work with Bull Bear v5 on mobile so it will be commented out)

Let me know if you see anything interesting... will post the next revision when I finish it. Thanks for taking a look.

http://tos.mx/WNBp8BI

Hey @Christopher84 the bars back being set to a high number should not cause repainting correct??

Thank you very much. What are the red-green brackets/bands that are on this study called? They transition from red/gray/green and are dotted. They appear on the 5-minute chart...

 

[HODL-Lay-HE-hoo!]

Thank you very much. What are the red-green brackets/bands that are on this study called? They transition from red/gray/green and are dotted. They appear on the 5-minute chart...

True turning off “Show reference line” off it may be on? It’s for testing purposes but I don’t have it coded to all plots. And I don’t use it.

 

[MichaelR]

True turning off “Show reference line” off it may be on? It’s for testing purposes but I don’t have it coded to all plots. And I don’t use it.

I actually kind of like it on /ES. Is it a particular study? Or can you just send the code for the brackets?

 

[HODL-Lay-HE-hoo!]

I’m not sure which brackets your referring to…

 

[HODL-Lay-HE-hoo!]

unless you mean the moving averages from the Bull_Bear V5 study?

 

[HODL-Lay-HE-hoo!]

I actually kind of like it on /ES. Is it a particular study? Or can you just send the code for the brackets?

https://tos.mx/64t1Tu4

This is the Bull_Bear_V5 on its own screenshots on page 94-95

 

[MichaelR]

https://tos.mx/64t1Tu4

This is the Bull_Bear_V5 on its own screenshots on page 94-95

Thank you. For some reason, the dots on the above version you sent are around the ema cloud. I was hoping the dots would generate above and below the candlesticks. Just like the attached:

https://imgur.com/a/kFVraJa

 

[HODL-Lay-HE-hoo!]

Thank you. For some reason, the dots on the above version you sent are around the ema cloud. I was hoping the dots would generate above and below the candlesticks. Just like the attached:

https://imgur.com/a/kFVraJa

Oh I see. Those are the "Near Term Support/Resistance" lines from @Christopher84's Confirmation Candles Study.

Here you go http://tos.mx/rU9HaDZ

 

[HODL-Lay-HE-hoo!]

@Break Trader https://usethinkscript.com/threads/confirmation-candles-indicator-for-thinkorswim.6316/post-114041 this post has all the basic crossovers within x number of bars read the description if your going to use it.

 

[HODL-Lay-HE-hoo!]

@Christopher84 hey man, is it possible to make create a version of bull bear that one could add as an additional study with different timeframe settings (for higher timeframe) that does not interfere with the lower tf?

 

[MichaelR]

Oh I see. Those are the "Near Term Support/Resistance" lines from @Christopher84's Confirmation Candles Study.

Here you go http://tos.mx/rU9HaDZ

Thank you so much!

 

[Terminator]

Thread 'Volume Buy Sell Pressure with Hot Percent for ThinkorSwim'
https://usethinkscript.com/threads/volume-buy-sell-pressure-with-hot-percent-for-thinkorswim.389/

Thread 'Volume Buy Sell Pressure with Hot Percent for ThinkorSwim'
https://usethinkscript.com/threads/volume-buy-sell-pressure-with-hot-percent-for-thinkorswim.389/

I hit a road block at the moment awaiting an answer to a question in the “How to code a breakout” thread. Basically it is plotting too many arrows and I need to be able to plot a single arrow when multiple different crosses happen within x number of bars.

The screen shots look pretty good but are not very consistent overall but will definitely share an update soon.

Can you have extended hours on your chart win using this study and do you find it helpful for daytrading on a one minute chart

 

[HODL-Lay-HE-hoo!]

Can you have extended hours on your chart win using this study and do you find it helpful for daytrading on a one minute chart

Yes although I do not trade after hours... the Volume study is helpful for identifying reversals looking at buy or sell volume going above or below average... In my opinion a better way to determine that would just be to use the Bull_Bear_V5 colored candles using the one min chart with the study set to the default settings of 5 and 10 mins.

 

[Terminator]

Yes although I do not trade after hours... the Volume study is helpful for identifying reversals looking at buy or sell volume going above or below average... In my opinion a better way to determine that would just be to use the Bull_Bear_V5 colored candles using the one min chart with the study set to the default settings of 5 and 10 mins.

I was wondering about the after hours because many of the indicators say to turn off after hour trading for the indicator to work properly. I typically do not trade after hours. What indicator do you suggest for day trading on the one minute chart? Currently I use the 8 EMA and support and resistance. I would like to get better at reversals and support/resistance. Right now I only daytrade SPY and SPX options. I just joined UsThinkScipt to help better my trading. Thank you for getting back to me so quickly.

 

[HODL-Lay-HE-hoo!]

I was wondering about the after hours because many of the indicators say to turn off after hour trading for the indicator to work properly. I typically do not trade after hours. What indicator do you suggest for day trading on the one minute chart? Currently I use the 8 EMA and support and resistance. I would like to get better at reversals and support/resistance. Right now I only daytrade SPY and SPX options. I just joined UsThinkScipt to help better my trading. Thank you for getting back to me so quickly.

Well you have come to the right place. This thread contains the end all be all of indicators. My personal preference is C4_Max_V5 (not the most recent version with breakouts as it is not tested) but C4_Max_V5 is a combination of C3_Max_Spark, PLD, Triple Exhaustion, and Bull Bear V5.

If you prefer a less is more setup I would suggest Bull Bear V5 to paint candles and triple exhaustion. Those two are killer on the one min… leave both at default settings. For lower I would for sure use Horserider Volume and EMAD. That being said Bull Bear V5 paints candles based on above and below average buy/sell volume and the EMAD being above or below zero plus emas up or down so I just this to help choose the right direction to trade that day (as long as it agrees with the hourly direction). As for Triple exhaustion it works well and does not repaint. It shines on high liquidity high volume underlyings - for example when NVDA or TSLA dumps at open but the hourly is bullish trend wait for the triple exhaustion indication (in my screenshots it’s a white dot) and look for a good entry asap and exit at the next triple exhaustion indication or when bull bear changes color.

This screenshot is on mobile so a little different and bull bear does not work

https://imgur.com/l22hYNJ

In the screenshot the triple exhaustion dots are green and red. The other lines are C3 Max Spark… the price is in the supply zone so I wait for it to breakout or indicate that it will breakout soon depends on your style. C3 max plotted the green arrows based on stacked emas so a breakout is coming (most likely) price breaks out of the supply zone (the green lines) - enter at the pull back ideally then for further confirmation to stay in the trade the red lines start to wrap around the candles while moving vertically this is very bullish - then you see the first red dot (triple exhaustion) you can sell or risk off / move stop loss up also notice the red lines are running horizon at that point which you could stay in so long as it doesn’t break down out of that zone. Price keeps wrapping up until finally the third triple exhaustion plus the red lines moving horizontal and break down out of that zone. Sell it all.