Confirmation Candles Indicator For ThinkorSwim

[METAL]

To whom it may concern… NFLX beautiful setup.

https://imgur.com/ebVhmTE

This image shows a pull back about to happen it was a small pullback and did not cross the PLD (of course it was pretty obvious it would not be a large pullback seeing as the EMAD is still above the zero line and EMA was pushing the EMAD top range up)

To whom it may concern… NFLX beautiful setup.

https://imgur.com/ebVhmTE

This image shows a pull back about to happen it was a small pullback and did not cross the PLD (of course it was pretty obvious it would not be a large pullback seeing as the EMAD is still above the zero line and EMA was pushing the EMAD top range up)

https://imgur.com/cAGBrP4

Would you mind sharing your chart with your setups? I am trying to get mine to look like your and for some reason I cannot. BTW, thanks for the great explanation.

 

[Madhu]

Thanks for sharing the results.

I am using the same set up you are using , my 3 min netflex chart is not same as yours.

Also can you please confirm what is the setting for yellow dotted line which is appearing in 3 min chart?

https://imgur.com/a/LXzh7IU

 

[HODL-Lay-HE-hoo!]

@Madhu the line is in your screenshot just not dashed unless you zoom in. In settings it’s labeled
YHEXTLINEOB/OS One of the lines is light green and dashed and the other one is yellow and dashed. See that yellow line that runs from the red supply zone and extends out to the end of the chart outside of the supply zone? And your light green line is inside the demand zone.

 

[Madhu]

@Madhu the line is in your screenshot just not dashed unless you zoom in. In settings it’s labeled
YHEXTLINEOB/OS One of the lines is light green and dashed and the other one is yellow and dashed. See that yellow line that runs from the red supply zone and extends out to the end of the chart outside of the supply zone? And your light green line is inside the demand zone.

Got it thank you

 

[HODL-Lay-HE-hoo!]

To whom it may concern… I find it helpful to use these indicators with after hours on to identify set ups pre-market also the supply and demand zones along with everything else plot a little differently

 

[graci117]

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

Thanks so much for the detailed explanation and a very big thanks to Chris to work on these indicators and always willing to help.I read your post several times and I apologize I am still having a hard time understanding. The reason probably could also be that I don’t have a setup like yours.
1. What is the gray PLD line and how do I get it? Is this the PLD bands?
2. What does candles wrapping mean?
3. I the chart you showed the down arrows forming after triple exhaustion. Do you start the trade when the other candles start forming?
4. I know a lot a people have asked you for a chart sharing? Could you please help me find the setup you are using?
5. What are yellow dots? I don’t see the yellow and green dots in the PLD bands on my TOS.
6. A picture is worth a thousand words and a video would be worth maybe a hundred thousand words Have you considered making a video??
Thanks so much!!

 

[nothingness99]

Wow..I finally found a profitable setup...thanks to Christopher84 and the crew that makes this happen..Happy Holidays guys.

 

[HODL-Lay-HE-hoo!]

Thanks so much for the detailed explanation and a very big thanks to Chris to work on these indicators and always willing to help.I read your post several times and I apologize I am still having a hard time understanding. The reason probably could also be that I don’t have a setup like yours.

1. What is the gray PLD line and how do I get it? Is this the PLD bands?

PLD bands is the strategy on page 1. I converted it to a study (included in my shared links) it is just a displaced moving average. If you search my screen name my comments will show up where you can load the individual PLD study or the setup. Or you can use the strategy version.

2. What does candles wrapping mean?

Look at my screenshots or the first screenshot on page one see the red and green boxes? When in a strong trend the zones are on top of the candles while the candles are trending up or down - when the trend has not met the criteria for a strong trend the green and red zones begin to run horizontal.

3. I the chart you showed the down arrows forming after triple exhaustion. Do you start the trade when the other candles start forming?

The red and green arrows on my screenshots are from the C3_Max study “spark up” “spark down” based on stacked EMAs.

(I generally trade SPY and TSLA (in my case options) but the “blast off” indicator watchlist is a good way to narrow down what to trade - just search “daily watchlist” and the thread will show up where they post the tickers to watch)

I don’t not trade strictly rules based. I identify a setup premarket (could be anything… see my screenshots) and trade based on that. However… I would say go back a few pages and read the comments on this.


4. I know a lot a people have asked you for a chart sharing? Could you please help me find the setup you are using?

I will repost it when I get home but you can find it a few pages back called C4_Max_V5

5. What are yellow dots? I don’t see the yellow and green dots in the PLD bands on my TOS.

Yellow dots are the squeeze indication from the C3_Max study (included in C4)

6. A picture is worth a thousand words and a video would be worth maybe a hundred thousand words Have you considered making a video??
Thanks so much!!

Haha I hear you. Indeed it is a possibility…. not a probability… but a possibility.

Thanks for your questions my good man.

The internet has spoken.
Good day.

 

[HODL-Lay-HE-hoo!]

My most recent setup (the whole setup) added "cumulative delta to the background of horserider volume...

http://tos.mx/5TI9fHH

(Will post screenshots soon)

 

[METAL]

My most recent setup (the whole setup) added "cumulative delta to the background of horserider volume...

http://tos.mx/5TI9fHH

(Will post screenshots soon)

Thanks for sharing, however, the workspace comes over as blank with no strategies or studies.

 

[HODL-Lay-HE-hoo!]

Da hell? Hmm I’ll take a look when I can.

 

[Buckaroo]

@sprahty I looked at the code but have not tested it in live market hours.

I suspect that the "VWAP_Pivot Signals" is the culprit for the repainting.

Has anyone figured out the fix for repainting?

 

[MerryDay]

Has anyone figured out the fix for repainting?

There is no fix for repainting. Repainting is built-in to the essence of the programming of pivot signals.
Read more:
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833

 

[MichaelR]

Hi @MichaelR,
Looking for agreement between timeframes is definitely a good idea. I typically use the 1 hour chart with TS_v9 strategy and the Bull Bear Candles and TS_v9 on the 5 min chart https://tos.mx/YiKSDE8 and look for agreement in the strategies. It has been working very well for me. Using the 1 hour chart helps to avoid choppy conditions. You could take a similar approach using EMAD, but I would suggest using a higher timeframe than the 5 min chart to help avoid choppy trade. It's also extremely important to test the strategy before trading it live. I hope this helps!

Thank you for your help. Does this system provide any signals that price movement is either a trend reversal vs. a pullback?

 

[MichaelR]

Da hell? Hmm I’ll take a look when I can.

Thank you for your help. Does this system provide any signals that price movement is either a trend reversal vs. a pullback?

 

[HODL-Lay-HE-hoo!]

Thank you for your help. Does this system provide any signals that price movement is either a trend reversal vs. a pullback?

Where you able to load the setup with the studies?
Asking because it didn’t work for someone else. No there is no indication for pullback vs reversal… however if it is in question start moving up the timeframes to verify. Or just use TS_V9 to tell you the hourly trend direction and only trade in that direction. That way it doesn’t matter if it is a pullback or reversal bc your only trade in the direction of the hourly trend.

 

[murtaza1234]

My most recent setup (the whole setup) added "cumulative delta to the background of horserider volume...

http://tos.mx/5TI9fHH

(Will post screenshots soon)

Not sure if its me or its not working. I dont see studies, but it overwrites the workspace.

 

[HODL-Lay-HE-hoo!]

Not sure if its me or its not working. I dont see studies, but it overwrites the workspace.

Dang I’ll have to make a new link.

 

[MichaelR]

Where you able to load the setup with the studies?
Asking because it didn’t work for someone else. No there is no indication for pullback vs reversal… however if it is in question start moving up the timeframes to verify. Or just use TS_V9 to tell you the hourly trend direction and only trade in that direction. That way it doesn’t matter if it is a pullback or reversal bc your only trade in the direction of the hourly trend.

https://imgur.com/a/pz8a0kn

This is what I get when I uploaded the study

 

[METAL]

https://imgur.com/a/pz8a0kn

This is what I get when I uploaded the study

He said he would send a new one when he had a chance. That is the same thing I get as well.
Merry Christmas!