/ES Futures Trading Strategy on ThinkorSwim

[Danchik]

Quick analysis

Hi,
How is it possible to change the indicator parameters for the SPXL ticker?

 

[hhjani]

Quick analysis

Ahhh! Finally done reading all 36 Pages of this thread but for sure learn a lot in the last 4 hours. Outstanding work by Blakecmathis and all those who helped him to create this code. Can't wait to try it out. Thank you Blakecmathis! I am sure I'll have some questions as I move forward. Thanks!

 

[Nicholas]

good day to all,
i come across this excellent indication signals.. could be added on to chart, giving "assurance" that your entries are right.
the win:loss ratio is decent too, as long as not trade in consolidation the signals are 80% accurate

anyone how how to add in an alarm " ring" when the signal appear? thank you

#  
# TD Ameritrade IP Company, Inc. (c) 2012-2020
#

input length = 21;
input paintBars = yes;

def EMA = ExpAverage(close, length);
def MACD = ExpAverage(close, 12) - ExpAverage(close, 26);
def MACDHist = MACD - ExpAverage(MACD, 9);
def GreenPrice = EMA > EMA[1] and MACDHist > MACDHist[1];
def RedPrice = EMA < EMA[1] and MACDHist < MACDHist[1];

plot Bullish = GreenPrice;
plot Neutral = !GreenPrice and !RedPrice;
plot Bearish = RedPrice;

Bullish.SetDefaultColor(Color.UPTICK);
Bullish.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Bullish.SetLineWeight(3);
Bullish.Hide();
Neutral.SetDefaultColor(Color.BLUE);
Neutral.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Neutral.SetLineWeight(3);
Neutral.Hide();
Bearish.SetDefaultColor(Color.DOWNTICK);
Bearish.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Bearish.SetLineWeight(3);
Bearish.Hide();

DefineGlobalColor("Bullish", Color.UPTICK);
DefineGlobalColor("Neutral", Color.BLUE);
DefineGlobalColor("Bearish", Color.DOWNTICK);
AssignPriceColor(if !paintBars then Color.CURRENT else if GreenPrice then GlobalColor("Bullish") else if RedPrice then GlobalColor("Bearish") else GlobalColor("Neutral"));

AddOrder(OrderType.BUY_AUTO, Bullish);
AddOrder(OrderType.SELL_TO_CLOSE, Neutral);
AddOrder(OrderType.SELL_AUTO, Bearish);
AddOrder(OrderType.BUY_TO_CLOSE, Neutral);

 

[Nicholas]

i added this to bottom

input AudibleAlerts = yes;
Alert(AudibleAlerts and OrderType.BUY_AUTO, GetSymbol() + "buy", Alert.BAR, Sound.Ring);
Alert(AudibleAlerts and OrderType.SELL_TO_CLOSE, GetSymbol() + "buy", Alert.BAR, Sound.Ring);
Alert(AudibleAlerts and OrderType.SELL_AUTO, GetSymbol() + "sell", Alert.BAR, Sound.Ring);
Alert(AudibleAlerts and OrderType.BUY_TO_CLOSE, GetSymbol() + "buy", Alert.BAR, Sound.Ring);

 

[murkr]

Well, this was a great read. I registered just because of this post! I'm a cryptocurrency trader and am looking to enter the traditional markets. I love the success people are having with this indicator but after learning how much money you need to safely get started trading /es I was a little disappointed. Is there any way I can use this script but trading on something that doesn't require $6k+ to safely trade?

I have $1000-$2000 I would like to start trading using this indicator. Are there any markets where someone with my size disposable income can safely trade with your script? I would like to scalp trade.

EDIT: Someone on Reddit recommends I trade AMP futures and mostly trade micro es for someone with my portfolio size. What are your thoughts on that? would this indicator work for that?

 

[blacktusk]

@blakecmathis thank you for this setup, excellent indicators!!

 

[barbaros]

@blakecmathis I'm still enjoying using this setup. Recently, I noticed date/time label on the top chart below the tick counter. I can't figure out where it came from or how it is set up. It is not in any of the studies. It updates to the date/time of the last bar. Do you have any ideas?

 

[EnvyV07]

Dang this is awesome. Is there a video on how to use this thing?

 

[mc01439]

@blakecmathis - Real nice work - thank you for sharing! One suggestion would be to take a look at Ben's "Average Price Movement Indicator".

https://tos.mx/Rux2Hcr

https://imgur.com/9nRWTDv

 

[rock5tar]

Hi @blakecmathis! Thank you for providing valuable information to the community. I was wondering if I could have the link to your latest setup. Got burned with my last strategy and I need a new game plan. This one seems more optimistic. Appreciate your help brother!

 

[markos]

@barbaros I think that because you are looking at a Tick chart, thinkorswim put that in so that you could tell what time a certain tick count was given.

 

[barbaros]

@barbaros I think that because you are looking at a Tick chart, thinkorswim put that in so that you could tell what time a certain tick count was given.

Hey @markos, I use tick charts all the time. This is the only chart showing it.

 

[murkr]

On the 1000t chart, I set it to Heinkin Ashi like I'm supposed to, and I see two colors yellow and white bars. But it's not like the usual red and green color changes im accustomed to. I'm seeing bullish movement but yet yellow and white in that same move.

What do the yellow and white colors signify?

 

[LuKaSi]

After using this system for a little while it does seem that the success rate is very high, but I'm having trouble setting my risk/ setting stoploss where I can get a good R/R - at least when waiting for the price to break through the BB stop loss before entering a trade. I'd love to hear @blakecmathis or anyone who's been successfully using this system's input on the stop loss/risk part of it all. I remember reading that the BB stop loss is used, but obviously sometimes that spread is quite large for the smaller scalp type reward. As always thank you to everyone who has been contributing.

 

[blakecmathis]

@mc01439 Can you elaborate on that indicator a little bit brotha?

 

[blakecmathis]

@LuKaSi I think the best way to do it is right when the BB flips over if that makes sense. When those big institutional moves happen a lot of the time the stop can be 10-15 points away. I usually sit those types of plays out. I dont know if its a mental thing or what but the way I see it the closer my entry is to the BB the more comfortable i feel with the trade. That way if i get stopped out its not so bad and i can recover on the next trade. Usually with this setup its pretty easy to tell when youre on the wrong side of the play.

 

[blakecmathis]

But dont get me wrong I trade against the BB stop loss on a regular basis. If you guys see anything we can improve on shout it out!! Still learning everyday and I appreciate all the feedback!

 

[LuKaSi]

@blakecmathis Thank you for your response, and yes that is what I've been noticing too. Right when it breaks/ candle close, and right at that price level if you enter the probability of a scalp is quite high. Is that what you're referring to? I haven't honed in on the target in terms of points though because I've just been testing it out. It scalps 1 point easily, but obviously I'd like to shoot for more to help with my R/R. Focusing on S&R and the price action in conjunction with these symbols definitely seems to be the way to go for figuring out good R/R targets. @blakecmathis I'm sure it's fluid, but on average how many points per trade are you targeting using this system?

 

[murkr]

Delete

 

[blakecmathis]

@LuKaSi Right now on average between 3-4. But plenty of 1-2 point scalps in there as well. My biggest play so far has been right at 6 I believe. Still working/learning how to hold on brotha thats the hardest part for me.