/ES Trading Strategy on ThinkorSwim

M

Misterputspread

New member
Looking at the 1000t and 2000t charts, the quick V-shaped patterns of movements almost remind me of the huge V shaped recovery the market has seen over the past 5 months. Anyone try using these indicators on a daily or weekly scale and see any success? Looks to me the price movements and wave trends are very similar when comparing on smaller and larger scale charts, especially given the recent volatility. Think it could be an interesting idea to examine something like this just in case we see another crash or correction in the near future.
 
D

deansafeleen

New member
@blakecmathis I have been using a 2 point limit and 2 point stop loss order for my exits. However, doing so, I have missed out on some big moves. If I may ask, what is your exit strategy?
 
blakecmathis

blakecmathis

Well-known member
@deansafeleen still working on perfecting the exits dude. Always take two points no matter what (unless you get stopped out). Depends on the number of contracts I'm trading, and the point spread on the day as well. It can be hit or miss as far as the exits go. I like to use quick reference points for exits like intraday vwap, open, yesterdays close, etc. Most of the time it boils down to a gut feeling and reading price action on the day.
 
blakecmathis

blakecmathis

Well-known member
@Misterputspread I've definitely thought about it man but just haven't gotten into the deeper time frames with this setup yet. Does it show any promise backtesting on the daily?
 
T

tradeidea20

New member
VIP
@@blakecmathis also can you sure latest setup ? so i was looking at it and confused as i am seeing fake signal how to avoid those? or can you explain in detail please how do u enter your trade? Thanks
 
Z

Zendrive

New member
@blakecmathis @tradeidea20 @RegularRob Hey guys, can one of you please share the latest version of this indicator? Every code seems different.
 
D

deansafeleen

New member
@blakecmathis. Yes sir. I will typically use a dynamic stop instead of a fixed one also. It varies depending on each individual trade as you mentioned. If I get stopped out, it wont reach my worst case 6 point stop. I will, 99.9% of the time get out before that loss takes place.
 
T

TIGER202020

New member
@twoduds Not exactly. Wait for confirmation from the CCI/ATR on the 2000t. You'll notice hows theres a double tap shelf @ 3331.50 right before the low was made. I went long for a fill @ 3331.75

could you please share the setup for this 8/10 post?
 
M

Misterputspread

New member
@blakecmathis ran a small backtest examining similarities in charts from intraday to longer term - definitely places to make longer term plays but many market moves on a longer term (daily+) scale with this chart setup can result in forces out of a trader's control. Been following this thread for a while but would love an update on your current set up and how your enter/exit strategy has evolved
 
blakecmathis

blakecmathis

Well-known member
@Misterputspread So I really dont think I'm ever going to have a clear cut exit strategy I think there are just too many variables in play when dealing with exits (for scalping anyways). Things I always shoot for as far as exits: open of the day, open/close for the previous day, VWAP and just simple S/R dude. I 100% need to work on my patience and let my winning trades develop into 6-10 point plays. Thats the only thing holding me back at this point. The technical part is pretty straight forward but the psychological part is a SOB. I've been using the OG setup lately just trying to keep it simple.

https://tos.mx/qFLQNzA
 
3L10Ns

3L10Ns

New member
Crazy day for me to try and learn this strategy, hoping for some guidance on a few questions.
1. I noticed the current price ( top left) is not the same as those displayed on the 1000t and 2000t charts, is there a relevance to this? sometimes differing by as much as 20 points.. Made it very difficult to track the trade
2. Market orders were filling with Futures contract /ESU SEPT 20, I have not traded futures on TOS before, is this correct? Does it correlate to $12.50 per 1/4 point?
3. Method I was using was alert on 1000t chart, confirmation arrow on 2000t chart, Buy/ Sell Market (Arrow up Buy / Down Sell Market). Sometimes I would get the confirmation arrow on 2000t and enter long, should I also wait for the candle to turn blue before entering?

Hope you all made money today,

Thanks
 
3L10Ns

3L10Ns

New member
I'm posting an image (screenshot this morning) to accompany questions above.

1. Why do the prices differ?
2. Is my work flow correct? Red circled numbers.
3. Is entry on 2000t color candle change after alert on chart?

Thanks in anticipation

 
rad14733

rad14733

Well-known member
VIP
@3L10Ns Most likely due to the difference between 1000t and 2000t chart painting... I see this all the time when watching the same security on two different tick-counts... I use Renko Bars and Ticks so it's quite common... Perhaps more so than with candlesticks...
 
E

Earthian

New member
@3L10Ns Try changing your price type to "Mark" under Futures tab in Chart Settings. Could be a question of real time data vs delayed data as well!
 
S

sunnyr

New member
VIP
For anyone still interested...you can add Bens sideways indicator to replace the gamma line - I combine this with RSIL and (SMI "the Unknown121 indicator here". Ben can correct me if I am wrong but his sideways indicator that uses DMI is basically a flipped chopline indicator which is what uses gamma as seen here.my personal preference is to turn on RSIL (the author has this switched off) to see entries and exits a bit better.

sideways indicator found here: https://usethinkscript.com/threads/...nkorswim-avoid-trading-in-choppy-markets.419/

Bonus Tip: Here is a little trick I figured out for all you premium members with the new buy the dip and take profit indicators. Plot these two in the same lower study and watch for crosses like you would with DMI.
 
Chuck

Chuck

Member
http://tos.mx/s0UFtYi

This is what I am using presently, I removed all my proprietary indicators. Please let me know what improvements can be made, you guys are awesome. I am a newbie, trying to learn. I use this on E-Mini futures.
 
I

IThinkImLost11

New member
VIP
Is there a dumbed down version of when to enter trades either long or short? Im looking at the grid where you have ES 1000 with SPY and then es2000 on other side. But looking at the wave trend with FE im still sort of confused when entry is best. Is there something you have to show that simplified? Also what is your current set up @blakecmathis

 
T

TraderKevin

New member
Is there a dumbed down version of when to enter trades either long or short? Im looking at the grid where you have ES 1000 with SPY and then es2000 on other side. But looking at the wave trend with FE im still sort of confused when entry is best. Is there something you have to show that simplified? Also what is your current set up @blakecmathis

Read the thread and put in work man. You want to make money in the stock market by actively trading but can't take the time to read 1 thread that gives you exact details on a good strategy? You should probably take several months to read a stack of books and stare at charts with these indicators paper trading and finding what works for you before you risk real money here.

Blake's strategy is simple and he's described it several times here. Wait for an arrow on the wave oscillator, then look for confirmation through price action, the 2000T CCI, or whatever makes sense to you.

Sorry if I sound harsh, but Blake comes in here and gifts everyone with a working edge, which is very valuable in so many ways, and its ridiculous to see so many people ask him to waste his time repeating himself over and over because they're too lazy to read a thread.
 

Similar threads

Top