High and Low Reversals Indicator + Intraday Strategy For ThinkOrSwim

[muztem]

hi ben
is there any chance to use this indicator after regular hours
thank you

 

[BenTen]

@muztem This is for regular trading hours only, I believe.

 

[muztem]

@muztem This is for regular trading hours only, I believe.

yes but i thought we can modify to asian and european markets too.

thank you

 

[jcga1981]

Hi, does the indicator only give signals to reverse put? not to invest call?
Thank you

 

[BenTen]

@jcga1981 Make sure you have extended market hours enabled.

 

[jcga1981]

@jcga1981 Make sure you have extended market hours enabled.

I have not activated the extended schedule .... I am testing the strategy in OnDemand, ... I don't know if that will be the reason, but I am surprised that only PUT signals appear.
Could you tell me what is the criterion to predict the movement's reversal? I was observing that sometimes it gives a signal that is wrong and immediately recalculates it in search of a new signal ... but I would like to know what is the criteria used to use the indicator only as a confirmation ... Last, at what time frame is it more reliable?
thanks and sorry for so many questions

 

[Kimberly]

Up arrows will appear after you enable extended hours.

 

[BenTen]

@jcga1981 If you're interested in this indicator, spend some time reading through the entire thread. This one has the answer to your question: https://usethinkscript.com/threads/high-and-low-reversals-indicator-day-trading-strategy.49/post-655

 

[jvbaty]

@BenTen can this be used on the daily or adjusted somehow? would be interesting to see if these alerts or strategy can be used on a daily chart

 

[BenTen]

@jvbaty I believe this is for intraday only.

 

[mini]

@Tesh01 Here is the scanner

5min: https://tos.mx/7LPlbl

15min: https://tos.mx/NqObqK

These two scanners are only for the Arrow Down. Do we have a scanner for the Arrow Up? Thank you!

 

[BenTen]

@mini Enable pre-market to see arrow up signals.

 

[dreamscape25]

Not to sound lazy or you need spoon feed but is there a way to back test this strategy? Does it require manual intervention or is there a custom code to test it which gives the stats?

 

[BenTen]

@dreamscape25 This indicator will repaint if the signal is wrong, therefore, not compatible for backtesting.

 

[Thomas]

@Chenthy73 Wow, I did not know about the scanner alert. Will definitely going to check it out tonight.

In the alerts, Market watch, you can program an alert....

 

[Trading51]

@BenTen This looks interesting, have you watched a lot during trading hours, do these arrows and lines re adjust let's say there's a green buy arrow up and the price is in a downtrend and price continues lower what happens to that line and arrow does it relocate at a new lower buy area, any feedback thanks.

 

[BenTen]

@Trading51 It's somewhat similar to the trend reversal indicator. If the stock reverses, the signal will be gone.

 

[camitos]

Hi! I first want to say I'm glad to have found this forum
Second I want to confirm as it doesn't mention in the instructions - this is also for going long right? And therefore I would follow:

This indicator look for potential reversal after a stock just hit low of the day. It will tell you when to buy long via an up arrow. The purple line indicates where to cut your losses.

Thanks!

 

[BenTen]

@camitos If you have pre-market enabled, you should be able to see bullish signals as well.

 

[mansor]

Another addition to my 10m chart, thanks Ben! Reconfirms super trend bubbles.

@Ben is the concept in its essence same? I mean rth and trend reversal share same approach? one has arrows and the other got bubbles and price appearance..or is there more to it that makes them each unique