Confirmation Candles Indicator For ThinkorSwim

[Madhu]

Thank you!

Thanks @HODL-Lay-HE-hoo!,

There are different types arrows and white circles in main chart.

Can you please help me to understand these?

Thanks
Madhu

 

[HODL-Lay-HE-hoo!]

Thanks @HODL-Lay-HE-hoo!,

There are different types arrows and white circles in main chart.

Can you please help me to understand these?

Thanks
Madhu

Go to studies then settings for the c4 study and turn off all arrows EXCEPT spark up / spark down and change triple exhaustion dots to green and red if you want. The other arrows are levels being crossed but I haven’t finished that park so click the box for each to not show the arrow.

Also in my chart I turn off all four labeled “avg”

Leave only the spark up spark down arrows ON they are based on stacked emas and can be extremely helpful (on my screenshots they are the red and green arrows)

 

[Madhu]

Go to studies then settings for the c4 study and turn off all arrows EXCEPT spark up / spark down and change triple exhaustion dots to green and red if you want. The other arrows are levels being crossed but I haven’t finished that park so click the box for each to not show the arrow.

Also in my chart I turn off all four labeled “avg”

Ok thank you

 

[HODL-Lay-HE-hoo!]

Ok thank you

No problem. If you want to post a screenshot I can tell you what to change.

 

[lolreconlol]

Hey no problem... of course the man @Christopher84 did all the hard work. This is the latest version with breakouts (hide the arrows in settings if need be description above)

http://tos.mx/EQNsCEt

This link is all studies on the chart

Wow! Are you having success with this combo?

 

[HODL-Lay-HE-hoo!]

Yes. There is nothing better. It is the gold standard… the end all be all of indicators.. especially for Mobile (doesn’t have full functionality but still)
Of course take that with a grain of salt as it is just my opinion.

 

[HODL-Lay-HE-hoo!]

To whom it may concern

https://imgur.com/a/5xZD7n4

 

[Madhu]

To whom it may concern

https://imgur.com/a/5xZD7n4

could you please tell me the exact option for red dotted Triple exhaustion?
I believe Green dots -- I can use Regular buy option.

 

[lolreconlol]

Yes. There is nothing better. It is the gold standard… the end all be all of indicators.. especially for Mobile (doesn’t have full functionality but still)
Of course take that with a grain of salt as it is just my opinion.

Do you find it works best on the 1 minute with extended hours off? Will take a look at this now!

 

[gregoryK]

Thanks for posting this. i’ve loaded it onto my desktop and will play with it. You mention using this study on mobile, but I can’t figure out how to import it onto the phone or ipad…is there something obvious i’m overlooking?

 

[HODL-Lay-HE-hoo!]

Thanks for posting this. i’ve loaded it onto my desktop and will play with it. You mention using this study on mobile, but I can’t figure out how to import it onto the phone or ipad…is there something obvious i’m overlooking?

Well you know what they say… if you weren’t thinkin you wouldn’t a’ thought that. Joking geeze it’s from the movie sandlot… anyway. The issue is…. If you have loaded it onto your desktop it will be in mobile… however you will need to go back a few pages and find the link before the “Bull Bear” was create (around page 90 maybe) where I posted the link for the combined studies with C3_Max_Spark and triple exhaustion and PLD (I shared each of these separately also)

If you try to use the newest link with bull bear it will not work on mobile as it does not support painting candles for some reason.

If you look hard enough you will find my post (search my username) where I explain what settings to change in mobile (because the colors will be all messed up)

 

[Madhu]

Sorry forgot about the yellow dots. Yellow dots are the “Squeeze” indication they appear during price compression and can be used to predict large moves (though it is not always easy to predict the direction)

Also notice the supply zone has the yellow line inside it… that is a major resistance former OB level… if it is broken super bullish if rejected… bearish. (Screenshot is the 2Hr chart though)

https://imgur.com/a/Si7UA2t

Is there any scanner for yellow dots squeeze ?

Thanks

 

[HODL-Lay-HE-hoo!]

Is there any scanner for yellow dots squeeze ?

Thanks

Yes but you will have to type “squeeze scan” in the search bar… you could also just google squeeze scan Thinkscript and look for the “useThinkscript” website. It’s buried in this thread probably near page 30 which is a wild guess.

 

[Madhu]

Yes but you will have to type “squeeze scan” in the search bar… you could also just google squeeze scan Thinkscript and look for the “useThinkscript” website. It’s buried in this thread probably near page 30 which is a wild guess.

Sure thank you

 

[GT326]

@HODL-Lay-HE-hoo! Do you have a scan for spark up arrow ?

 

[HODL-Lay-HE-hoo!]

I dont believe it was possible

 

[petertn]

Hi!

I am so lost trying to follow this post, there are so many indicators and codes on the first page. Which one is main strategy? or is every code a different indicator/strategy? Is C3_Max the same as the confirmation candles indicator?

Thanks!

 

[MichaelR]

I dont believe it was possible

Hi Everyone,

What happens if the lower EMAD gives a different signal on different time frames, like it shows differently on the 2-minute and 5-minute chart? Do you just wait to trade until the two signals are in sync?

 

[Christopher84]

The resistance zone was easy to anticipate using the month chart. The 1 hour strategy is still performing exceptionally. The Bull Bear Candles have also been quite profitable on the 5 min chart. Happy trading everyone!

 

[HODL-Lay-HE-hoo!]

Hi Everyone,

What happens if the lower EMAD gives a different signal on different time frames, like it shows differently on the 2-minute and 5-minute chart? Do you just wait to trade until the two signals are in sync?

Edited

The following are indications one will notice overtime using the various indicators in this thread. It is not a rules based system.

If you have trouble understanding all the various indicators THEN JUST GIVE UP! Joking people! Just a joke! But seriously if that is the case and you like to trade short term 1-3min charts just focus on the Bull Bear V5 candles and watch the other indications until you understand them. (You could turn everything off except for Bull Bear V5 candles and Spark Up/Down arrows on only and do well ((I would also add triple exhaustion))

* End edit *

This is generally my method (note: I use a watchlist column for high relative volume with only high liquidity tickers like AAPL TSLA SPY etc):

1. Determine the direction of the hourly trend (before market open) using one or more of the following indications:
A. C3 MF Line color
B. Spark Up / Down arrow
C. EMAD EMA color
D. PLD crossover
E. Price wrapping

- Trending up - take long trades only
- Trending down - take short trades only

** Exceptions to step 1 **

• Triple Exhaustion indication (dots)
• Significant levels (supply or demand zone with yellow or light green line inside the cloud of respective zone)if a supply zone with a yellow line inside the zone is acting as support in a bullish trend then the zone moves up and is now used as resistance —> wait for a breakdown or up from this level as it may go sideways at said level

Note
If your using one of the hourly indications that signal the trend change later than the others then be patient and wait for a good entry… if using an indication that alerts trend change rather quickly that goes against the slower indicator (like the upper EMA cloud) that is fine just know that it will likely be a short lived pullback as opposed to a full trend reversal.


2. Determine wether or not the 1Min - 3Min chart agrees with the hourly trend direction (look at both timeframes)

- If the hourly is bearish I’m waiting for a move in the opposite direction to reject the supply zone or for Triple Exhaustion indication and/or bull bear V5 candles turn from green to red to buy puts (make sure you do not trade opposite a zone that is wrapping)

- If the hourly is bearish and 1/3min trends agree I will buy puts if one or more of the following is true:

A. Candles wrapping at open
B. Major zone rejection premarket (near open)
C. PLD crossover reject before open (wicks)
D. Bull bear V5 candles red
E. C3 Line red

3. Exit trade when one of the following occurs:

- Triple Exhaustion indication (usually good to use as a “risk off” point (bought 5 contracts sell 4 let one ride if the trend is not broken)
- Supply / Demand zone moving horizontal (or hold until candle breaks out of the zone)
- Candles move above a zone (depending on price action)
- If price is moving towards a significant zone (zone with yellow or light green line inside) I will expect a bounce and risk off accordingly also if the lower line of the EMAD is stepping up while price is going down I will expect a bounce

** The triple exhaustion in particular shines on strong price action for high liquidity underlyings like TSLA NVDA etc. also I look for the indication on other timeframes as well but works best used on the 1-3min I find **

Test first trade later.

https://imgur.com/lnAD0dk

https://imgur.com/Mu5p6KU