/ES Futures Trading Strategy on ThinkorSwim

[blakecmathis]

I'd really like to convert it to an auto trading system I just have no idea where to start so if anybody has any ideas I'm all ears Not sure how plausible that would be but might be worth a shot.

 

[BlueRaven]

Nice job @blakecmathis ,

I'm finding this very useful so far. I've not been using it for scalps, but as a trigger for larger ES day trade swings 10-20+ points from my other trading plan.

Normal method would not have triggered on the two today, but this gave me an entry (just a bit later) and gave me two 20point swings on 3point stops.

I'll probably use it for some scalps while not being in a larger trade.

For those asking about MES vs ES. You should be able to chart everything on ES and trade MES just fine.

I trade through IB but most of my charts are TOS, Multicharts, Tradingview, sometimes Street Smart Edge for a few tools when it's working...

 

[BlueRaven]

I'd really like to convert it to an auto trading system I just have no idea where to start so if anybody has any ideas I'm all ears Not sure how plausible that would be but might be worth a shot.

I have a "framework" I use in TOS to backtest automated strategies. I will probably take a look at plugging this into it. I've also been interested in MetaTrader5 for automating. I have yet to play with MT5...

Have you had any luck with getting the 2000tick confirmation signal on the 1000tick chart?

I have an idea to try, but I don't know if it will work. (nevermind, doesn't work...)

 

[blakecmathis]

@BlueRaven thats the one thing we still haven't been able to do and it would be awesome if we could. There's got to be some combination of settings we can set the CCI/ATR to mimick the signals from the 2000t.

 

[SilverWolf]

Blake! Thanks so much for sharing your setup! I'm having fun here paper trading on /mes. This morning was a thing though..

 

[blakecmathis]

@SilverWolf Today's been pretty rough dude!!

News feed all day:
COVID
COVID
COVID
COVID
COVID

 

[VicD]

I am playing around with your latest version of the set up with a couple changes and indicators for support and resistance and trend. I don't actually trade futures right now, but I am finding it is a pretty good play with SPY options (and VIX, SPY, Q's derivatives options). I also have support and resistance and zones off on a Quick chart so I combine all that date to play off support and resistance for entries and exits. Only a couple trades thus far but pretty good. Setup https://tos.mx/CAGaCcZ

@BlueRaven Add another WTO study and double the Channel length and Average length just set arrows to be different size and color for you to see the difference. It seems to work.

Or try this, this is as close as I can get it at the moment. https://tos.mx/7ksylPg This combines the 2 periods in one for a lower study. I want to actually plot divergence and signal when the next lowest is above the oversold or overbought. As divergences make better entries which matters more for options.

OOOOh. in love. So using the autotrend and plotting divergence on the WTO indicator on the 1000t with the second line being 2000t. It makes a lovely divergence indicator. https://tos.mx/fOJZlJ0. So (in theory as i have not traded it yet) the big green arrow showed the buy signal on 2000t, then the small arrows showed buy signals on 1000t. then it touched support 3 times with the divergence, giving you a nice entry. Same on the turn down. Got a sell signal with the 1000t arrow, my trend showing price rising, then on R1 gave divergence on the 1000t (purple) and down she does breaking the rising wedge. the Entry 1 would be the one matching FE below 0, and a higher probability trade into change of momentum. (Just showing this on /Cl as where the divergence is evident on the time frame, the auto lines move as new data is presented)

 

[realcul]

hi I am newbie to Futures trading (scalping/daytrading/swing trading), have been doing stock options (theta strategy) trading for a while now. I did few weeks of paper trading and then /MES and /RTY trading for past few weeks. Even though I have been profitable - I think it is more a chance than anything and want to get to better structure with indicators and strategies.

Accordingly, I am trying to digest this thread. There are number of thinkscripts being shared. Can someone recommend the right one to use. Also, can they be used against /MES or RTY or only against /ES ?
Also, is there any youtube video or instructions on the best way to read and use that. Which indicator to use for a buy/sell signal.

 

[easyman]

Hi @blakecmathis and others...
Please feel free to chime in on .. what i could have done.

First and foremost... awesome thread... spend a day figuring out.. and good one.

Did paper trade and got 1/3 (2 wrongs).. Want to see,what i did wrong ... So please chime in experts..

Can you suggest me .. what could i have done better..
Also i am not sure of the use of FE in these trades.

Thanks in advance
MN

 

[blakecmathis]

@easyman Could you be a little more specific with your entries man??

 

[deansafeleen]

@blakecmathis. Thank you for this thread. Can you please post you trade entry rules for this setup?

Regards

 

[deansafeleen]

Thanks!

 

[easyman]

@easyman Could you be a little more specific with your entries man??

Sure Sir..

1) Picture 1 and 2 are duplicate ... no idea why... Shorted around yesterday 8.01 AM ...on 29th... It's Purple ...and even 1000 (blue arrow) and 2000t (white arrow) were aligned but the market went up... Asking any other way to filter

2) Picture 3 is same... around 9.03 AM.. (Cursor and orange color)

I am thinking of playing with 1 min to slow down as the market pumps 1000t very fast many times... any idea...

THanks again

 

[Earthian]

Thanks @blakecmathis for this amazing initiative and other members for contributing on this strategy. I have been testing it for a week and looks like if you're disciplined enough to follow the signals and know to read price action with support and resistance it's a killer strategy. However, I have a question. How do you guys differentiate if a signal is a pullback in a strong trend versus if the signal is a solid reversal? Thank You.

 

[blakecmathis]

@easyman Okay I see what you were talking about now. That was a tough play that I sat out of just because it was beginning to look like some consolidation. If it starts to get choppy I'll sit out situations like that and look for a nice clean even break. Hope that helps man!!

 

[blakecmathis]

@Earthian Well theres always gonna be some iffy signals man. Like if I get a sell signal from the WTO and confirmation from the 2000t, it could just be only two 2-3 candles that pop red but then it just sky rockets right back up. The good thing is if you obey the stop loss youre probably only gonna take a 3-4 point loss (possibly even less) and can easily make that back on the next play. That is if you are playing by the rules and dont let that one bad play psyche you out for the rest of the day which happens to me a lot.

 

[deansafeleen]

Have you guys found this strategy using this setup with any other symbols besides /ES? Such as stocks or even other emini symbols? How were your results?

Thank You

 

[blakecmathis]

@deansafeleen I have not brotha. I strictly trade /ES day in and day out.

 

[deansafeleen]

@blakecmathis In backtesting, I have noticed some good trade signals that appear in the evening and early before the premarket hours. Do you trade /ES after hours also?

 

[easyman]

@blakecmathis how do u decide it's consolidation or choppy.. yes after it was over .. i thought about it... but any idea... TIA MN