/ES Trading Strategy on ThinkorSwim

D

DaGekko

Member
2019 Donor
VIP
Ok I see now - BB stop loss just kept us out of a play that reversed. Thanks for the tip!
 
LuKaSi

LuKaSi

New member
@LuKaSi Correct. Green going long and red going short.
Awesome, that is making a lot more sense to me now, thank you. Do you find this works better on a certain type of day (Trend/range)? Also I believe you've mentioned this before, but what type of information are we trying to glean from the SPY chart? Just volume?
 
H

hhjani

New member
VIP
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!
 
N

Nicholas

New member
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

Code:
#  
# 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);
 
N

Nicholas

New member
i added this to bottom
Code:
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

murkr

New member
VIP
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?
 
Last edited:
blacktusk

blacktusk

New member
@blakecmathis thank you for this setup, excellent indicators!!
 
B

barbaros

Member
@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?

 
E

EnvyV07

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

rock5tar

New member
VIP
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

markos

Well-known member
VIP
@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.
 
B

barbaros

Member
@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

murkr

New member
VIP
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

LuKaSi

New member
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

blakecmathis

Well-known member
@mc01439 Can you elaborate on that indicator a little bit brotha?
 
blakecmathis

blakecmathis

Well-known member
@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.
 
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