Confirmation Candles Indicator For ThinkorSwim

[HODL-Lay-HE-hoo!]

Hi @HODL-Lay-HE-hoo!
I just threw this together, but I think it is what you were hoping for. Use "displace3" in the settings to adjust the amount of displacement. Let me know what you think. Happy trading!https://tos.mx/1hIAtaV

@Christopher84 hey so I loaded the C3_Displacement and so far so good… my goal was to be able to represent the consensus level of a higher timeframe… which in hindsight I may not have needed the displacement only to change the length… anyway I am curious if this is an accurate representation of a higher timeframe? I will have to throw it on a lower timeframe chart next to the higher timeframe with the C3_MF_Line study in there for comparison… I have read on other threads doing things of this nature rather than using MTF studies is a way to limit or do away with repainting..?

 

[Christopher84]

@Christopher84 hey so I loaded the C3_Displacement and so far so good… my goal was to be able to represent the consensus level of a higher timeframe… which in hindsight I may not have needed the displacement only to change the length… anyway I am curious if this is an accurate representation of a higher timeframe? I will have to throw it on a lower timeframe chart next to the higher timeframe with the C3_MF_Line study in there for comparison… I have read on other threads doing things of this nature rather than using MTF studies is a way to limit or do away with repainting..?

Hi @HODL-Lay-HE-hoo!,
I changed the code to allow for displacement of the C3_MF_Line. This will not make the C3_MF_Line MTF. That will be a considerable undertaking.

 

[HODL-Lay-HE-hoo!]

Hi @HODL-Lay-HE-hoo!,
I changed the code to allow for displacement of the C3_MF_Line. This will not make the C3_MF_Line MTF. That will be a considerable undertaking.

Hey @Christopher84 right that’s what I was after… for some reason I thought the original c3 line study was MTF… but really it just automatically adjusts to whichever timeframe the chart is. When I asked about the displacement I didn’t realize all I needed to do to represent the consensus level of a higher timeframe (on a lower timeframe chart) was simply to change the length but I am also adjusting the displacement to see how that works out.

I recently added the c3 line study to a 5min chart and the new C3 displacement study to the same chart with very little displacement and changed the length to 180 I believe… then opened and 1hr chart with the c3 line study defaults and the 5min chart c3 line with the length at 180 (give or take) seems to represent the consensus level according to the c3 line on the 1hr pretty accurately.

Thanks for your help!

 

[HODL-Lay-HE-hoo!]

Here we go good people... in attempt to not look at 1000 charts on a grid I added the C3 Line Displacement study (I leave the displacement at 0 and only change the length which does a good job at representing the consensus level of a higher timeframe) (the screen shots are not the comparison of the C3 line with adjusted length on a lower timefrom vs the higher timeframe with the default c3 line - will post when I get time)

Chart Style: https://tos.mx/FDFAT5o

 

[HODL-Lay-HE-hoo!]

@HODL-Lay-HE-hoo!

Is this layout possible on the Daily. The candle colors change for some reason.​

http://tos.mx/PQjYtIv

Try this one… I am not around my computer at the moment but if the study is called Blast_Off_Vix_3x or something of that nature and working on the daily then it is the right one… so you would need to replace the triple exhaustion mtf from the grid share with the one mentioned above. I’ll post the link one of these days! Sorry the day I was going to share the link I realized I saved over the one I thought it was for the daily.

However I do not have an mtf version that will work on the daily yet. Working on it.

My bad, I didn’t forget about you.

 

[HODL-Lay-HE-hoo!]

The screenshots above are a good illustration as to why it is ideal to view various timeframes each day and narrow them down to the two or three you will use to trade (or however many you use)

On the 5min chart it would seem that the yellow previous supply zone line was rejected possibly leading one to exit early or short early on the 10min chart however provides a helpful indication that the previous supply zone line is being used as support and the pullback did not break that key level. Use the lower timeframe to predict what is to come on the higher timeframe and use the higher timeframe to confirm what is happening on the lower timeframe.

That being said the ATR lines I find to be a good representation similar to the EMAD lower type of indication to identify wear price may bounce at near term levels (the dashed green and red lines) - with that in mind I debated the need for the EMAD Lower after this realization however the EMAD is easier on the eyes thus it will remain.

I had not been utilizing the “Near Term Levels” as I could have been (as the green gray red colors and the levels moving up down together horizontal etc. represent price action)

And that is all until next time… Good day.

 

[HODL-Lay-HE-hoo!]

To whom it make concern: I am attempting to use the “breakouts” portion of code I shared previously to limit TS_V9 to only enter trades in a supply/demand zone… or that have crossed into the zone within x number of bars… of course one could just visually determine that without the code but that’s no fun. Anyway the issue may become arrows plotting in the “wrap” zones but that should be able to be filtered out with the bars back input…? Hmmm anyway just thinking out loud… check out the screenshots above - the blue arrows are TS_V9

 

[HODL-Lay-HE-hoo!]

@HODL-Lay-HE-hoo!

Is this layout possible on the Daily. The candle colors change for some reason.​

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

Here is one where the Bull Bear V5 paints the candles instead of the exhaustion: http://tos.mx/ClTToB1

The colors are not exactly the same as I have not added the higher timeframes for the exhaustion study yet. (the cyan arrows are TS_V9 and the white dots are the end of exhaustion - cyan candles are Vix Alert 4 from vix fix and the white-ish candles are from Blast off study the rest is C3_Max_Spark

 

[hovcen411]

Hi Chris, I am new to the website and new to TOS. I am more interested in swing trading and one of your videos I saw the study on your screen named MTF_MA_CLOUD. where can I find this study. Your input will be much appreciated.

 

[tlebouef]

@Christopher84 Have you looked into using these indicators with range charts ? I have been testing C3_10 it seems to work but I was wondering what your opinion was for it ?

 

[solaris]

What the difference between the Confirmation Candle V10 and the Consensus Confirmation Candles V.3? Are they the same Indicator? Which one is the latest ?

 

[HODL-Lay-HE-hoo!]

Hi Chris, I am new to the website and new to TOS. I am more interested in swing trading and one of your videos I saw the study on your screen named MTF_MA_CLOUD. where can I find this study. Your input will be much appreciated.

Page 1

 

[HODL-Lay-HE-hoo!]

@Christopher84 Have you looked into using these indicators with range charts ? I have been testing C3_10 it seems to work but I was wondering what your opinion was for it ?

Hey... So I assume you got the "C3_10" which is the line only study from one of the charts I shared. I had adjusted the length for that particular study to represent the 10min timeframe while having the study on the 3min timeframe. Are you using the line only or all the studies in the set/style? So ideally you would have the C3_MF_Line study at default settings along with C3 Displacement study (which is what the C3_10 study is I just set the displacement to 0 and the length to 35 ((I think)) so feel free to change the name back to C3 Displacement or something and change the length as you wish)

Anyway I personally have not used it on a range chart.

 

[rcheltap]

I am new to technical analysis, is there like a video that explains how to read the chart - the green & red band, the arrows, the colored line

 

[HODL-Lay-HE-hoo!]

I am new to technical analysis, is there like a video that explains how to read the chart - the green & red band, the arrows, the colored line

Not for the newest version... but there are many screenshots with explanations of various need to know information about the current setup. Go back a few pages are there is a post with links to them.

 

[HODL-Lay-HE-hoo!]

@Admiral747
http://tos.mx/L2bR3vL

I added the Triple Exhaustion MTF (vertical lines (the ones labeled “3X_ “ the others are the options expiration lines in the screenshot below) not the painted candles) to use with the daily (same for the old one from the grid that did not work for you on the daily it should work with these settings —>... just set agg one and two both to "Day" agg 3 to "week" and agg 4 to "month"

 

[Admiral747]

@Admiral747
http://tos.mx/L2bR3vL

I added the Triple Exhaustion MTF (vertical lines (the ones labeled “3X_ “ the others are the options expiration lines in the screenshot below) not the painted candles) to use with the daily (same for the old one from the grid that did not work for you on the daily it should work with these settings —>... just set agg one and two both to "Day" agg 3 to "week" and agg 4 to "month"

@
@HODL-Lay-HE-hoo! Thank you so much. These are beautiful. Does your Open Interest overlay on the top or do you just check it not to show? Have you ever tried making a scan on these charts. It looks like a number of ways to trade these charts. May I ask how you trade them? It would seem like the first reversal indicator after touching top/bottom side of the range.

 

[HODL-Lay-HE-hoo!]

@
@HODL-Lay-HE-hoo! Thank you so much. These are beautiful. Does your Open Interest overlay on the top or do you just check it not to show? Have you ever tried making a scan on these charts. It looks like a number of ways to trade these charts. May I ask how you trade them? It would seem like the first reversal indicator after touching top/bottom side of the range.

the open interest study is a built in study that seems to automatically appear on futures i just remove it.

 

[HODL-Lay-HE-hoo!]

The open interest study is a built in study that seems to automatically appear on futures i just remove it.

@Admiral747

(I only use the chart with gray candles on the daily active trader chart)

I have many screenshots explaining various setups. Also the page one explanation of C3 will explain things as well. @Christopher84 is working on a video to explain the new setup... until then go back a few pages and read the comments and screenshots and of course watch during market hours.

The Horserider Volume lower study in the following screenshot has the MTF Triple Exhaustion study plotting the vertical lines numbered to show which aggregation it represents - the main chart shows the current timeframe exhaustion as dots

http://tos.mx/H7Xrhwx

The basic plot....

Look for entries when price enters or exits the horizontal supply or demand zones (I would add to that - when this occurs enter on a pullback usually a few bars after spark arrow(s) (in my experience) at which point the color of the C3 line, ATR Near Term Levels (dashed lines) will likely agree with the direction.

If candles enter the opposite zone and the zone is wrapping/moving up or down with the candles this indicates the trend is STRONG.

When the supply and demand zones are close together or overlapping price will likely hang out in that zone for a while but when candles breakout above or below the supply or demand zone it will usually be a fairly significant move (in my experience)

The EMAD EMA's bouncing off the top, middle, or bottom line combined with the above usually makes for a safe entry. (Also for myself when triple exhaustion is inside the supply or demand zone this is an indication to watch for entry soon ((I have not been using the MTF triple exhaustion study))

Pay attention to the Yellow line and the Light green line which are previous key supply / demand zones... is the level being used as support or resistance? When the Yellow line and the Light green line are inside the horizontal supply or demand zones These are key levels!

The ATR Near Term Levels as well as the EMAD lower can indicate where price should bounce during a pullback.

 

[lolreconlol]

@Admiral747

(I only use the chart with gray candles on the daily active trader chart)

I have many screenshots explaining various setups. Also the page one explanation of C3 will explain things as well. @Christopher84 is working on a video to explain the new setup... until then go back a few pages and read the comments and screenshots and of course watch during market hours.

The Horserider Volume lower study in the following screenshot has the MTF Triple Exhaustion study plotting the vertical lines numbered to show which aggregation it represents - the main chart shows the current timeframe exhaustion as dots

http://tos.mx/H7Xrhwx

The basic plot....

Look for entries when price enters or exits the horizontal supply or demand zones (I would add to that - when this occurs enter on a pullback usually a few bars after spark arrow(s) (in my experience) at which point the color of the C3 line, ATR Near Term Levels (dashed lines) will likely agree with the direction.

If candles enter the opposite zone and the zone is wrapping/moving up or down with the candles this indicates the trend is STRONG.

When the supply and demand zones are close together or overlapping price will likely hang out in that zone for a while but when candles breakout above or below the supply or demand zone it will usually be a fairly significant move (in my experience)

The EMAD EMA's bouncing off the top, middle, or bottom line combined with the above usually makes for a safe entry. (Also for myself when triple exhaustion is inside the supply or demand zone this is an indication to watch for entry soon ((I have not been using the MTF triple exhaustion study))

Pay attention to the Yellow line and the Light green line which are previous key supply / demand zones... is the level being used as support or resistance? When the Yellow line and the Light green line are inside the horizontal supply or demand zones These are key levels!

The ATR Near Term Levels as well as the EMAD lower can indicate where price should bounce during a pullback.

This is great! Any chance of a video? How do you add this to the mobile version? Any way to load the whole study set, or do you need to add one at a time?

@HODL-Lay-HE-hoo! how would you approach this? I made some easy $ on a paper trading account with the first short after the red dot, would you short again as it entered the resistance again? Or would you wait since EMAD isn't near the white line? This is SPY, extended hours off, 10 minute chart.

https://imgur.com/a/5IKSqC9