High-Low Range Chart Setup For ThinkOrSwim

OGOptionSlayer

Active member
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just came across this indicator looks great, the question is there a way we can see past alerts or signals it has given on the 15min timeframe I loaded the script and only shows current signal. So I can’t go back and see how many signals it has given in that past to study the best results. Thanks in advance
This is not a lagging indicator so it repaints and it only considers current price action identified by the 'Bars' (default 20 candles) and Buffer (default 10). The buffer will not allow another of the same signal to generate within that number of candles. On lower timeframes, I set my buffer to a higher number than 10 and my bars to a higher number to account for the quick price action.

Remember though that timeframes are fractal and you will generate the same signals in 1m that you will in a one hour but you will just get more fakeouts in the 1m.

I've been using the 30m for the past two days and I really like it. It's clean but you do have to use areas of confluence to confirm. the 1hr is pretty solid all the time. To me, it gets cleaner as you much up into higher timeframes.
 

robertc

New member
The lines only go back as far as your look back period. The default look back is 20 candles.
Thank you for answering. Yea, i caught on to that. i was thinking i was doing something wrong. its an interesting strategy. but i noticed when the green colored box appeared, the price still went down and then up an then back down on then up. i jumped out a few times when i was in a loss because the loss became too much and was scared the indicator was wrong. but if i just had held, i would of eventually been positive. But i would have to ignore my stop loss and just hope the indictor worked. Is there something else i should be doing to get in at a better price where its not being as volatile? I have a b3 low indicator, a squeeze pro, and a modified rsi indicator. i also have the turtle strategy study overlapping this strategy as well. they seem to work well together.
 

axlotto

New member
Quick question for y'all:
For now I'm using this indicator on the 5m and 30m charts, with the TTM Squeeze only on the 5m. Is it advisable to use TTM Squeeze on the 30m also (i.e., to look for confirmation on both the 5m and 30m)?
 

culturalroots

New member
Hey all,

I loaded the latest version of this indicator and I am getting the current screen. Is there reason why the range is so large? It is due to the red line appearing at 0. How do I remove this?

tosimage.png


Thank you
 

Focus

Member
It would be helpful if you can include a picture for me to understand what you mThe white candle is a signal to go long.

It would be helpful if you can include a picture for me to understand what you mean.
In this picture, the painted "white" candle is a buy Call signal. The previous white candle was the candle starting with the green cloud which shows that it's repainting. So my question; is should a trader or do you wait to take your trade when there is a sell signal because it's new?

yhgSz1h.jpg
 
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Cliff

New member
VIP
First of all thanks to everyone for making this indicator available.

I don't understand what is happening on today's chart of MRO and ON. The down arrow indicates a short, but the price has not yet closed below the solid red line. Is this a glitch, or am I doing something wrong?

7ddSAmq.png
 

Chemmy

Active member
VIP
First of all thanks to everyone for making this indicator available.

I don't understand what is happening on today's chart of MRO and ON. The down arrow indicates a short, but the price has not yet closed below the solid red line. Is this a glitch, or am I doing something wrong?

7ddSAmq.png

Hm, I just checked the same chart and you're right -- this is an old bug that I thought I had fixed... it happens only on the "Completed Bar" buy type due to an early initialization that the "completed" option starts. I'll try to play around with this in my spare time this weekend, that's frustrating though as I was sure we had tackled this already. Thanks for bringing it to our attention, though!
 

OGOptionSlayer

Active member
VIP
In this picture, the painted "white" candle is a buy Call signal. The previous white candle was the candle starting with the green cloud which shows that it's repainting. So my question; is should a trader or do you wait to take your trade when there is a sell signal because it's new?

yhgSz1h.jpg
That white candle is not generated by the indicator, it's actually generated by TOS and it simply means that bulls/bears were undecided on the direction. You can also see that it retested the top of the Buy Calls line. When it rejected off that, I would have went long but most likely, I would have been long after the candle closed above the Buy Calls line. That's why the dashed line is there for your stop loss so you minimize the risk.

On a 15m chart, this indicator doesn't give a crazy amount of fakeouts. I've been using the 13ema and 48.5ema for another area of confluence. I would recommend using this if you can or use the 10SMA and 50SMA to understand where the market is trending.

I would have been in both of these trades to be honest.

One on buying the calls, setting my stop loss at the Buy Puts and then back in it when the candle closed under the Buy Puts line., getting out once I hit the previous painted Buy Calls line. This is a classic chop play I do often.
 

OGOptionSlayer

Active member
VIP
Hm, I just checked the same chart and you're right -- this is an old bug that I thought I had fixed... it happens only on the "Completed Bar" buy type due to an early initialization that the "completed" option starts. I'll try to play around with this in my spare time this weekend, that's frustrating though as I was sure we had tackled this already. Thanks for bringing it to our attention, though!
First of all thanks to everyone for making this indicator available.

I don't understand what is happening on today's chart of MRO and ON. The down arrow indicates a short, but the price has not yet closed below the solid red line. Is this a glitch, or am I doing something wrong?

7ddSAmq.png
Are you using the most updated version of the indicator?
 

OGOptionSlayer

Active member
VIP
Thank you for answering. Yea, i caught on to that. i was thinking i was doing something wrong. its an interesting strategy. but i noticed when the green colored box appeared, the price still went down and then up an then back down on then up. i jumped out a few times when i was in a loss because the loss became too much and was scared the indicator was wrong. but if i just had held, i would of eventually been positive. But i would have to ignore my stop loss and just hope the indictor worked. Is there something else i should be doing to get in at a better price where its not being as volatile? I have a b3 low indicator, a squeeze pro, and a modified rsi indicator. i also have the turtle strategy study overlapping this strategy as well. they seem to work well together.
The one thing I don't hear that you have is either SMA or EMA indicators. I always use the 10SMA/50SMA combo or the 13EMA/48.5EMA combo to understand if we are pushing higher or trending lower. This would help you in the directional bias and maybe not shake you out.

Also, look at your bars on the Squeeze pro to see if you've had two consecutive color changes (cyan to dark blue for calls, or red to yellow for puts).

This will tell you that the trend is reversing and you need to get out.

The indicator works in choppy markets but it's designed to catch those big reversals or give you a retracement play.
 

OGOptionSlayer

Active member
VIP
Quick question for y'all:
For now I'm using this indicator on the 5m and 30m charts, with the TTM Squeeze only on the 5m. Is it advisable to use TTM Squeeze on the 30m also (i.e., to look for confirmation on both the 5m and 30m)?
You should absolutely be using it on the 30m. Timeframes are fractal and you should be using them evenly in my opinion and treating them separately. I use the 5m for entries but typically will alternate what I use for exits.
 

Cliff

New member
VIP
Are you using the most updated version of the indicator?
I'm pretty sure I am using the latest version. I only changed the color of the buy/sell arrows to white/gray so I could see them better. FWIW HalcyonGuy's version has the same problem. I've been trying to understand the code, but I'm still new at programming.
 

Chemmy

Active member
VIP
I'm pretty sure I am using the latest version. I only changed the color of the buy/sell arrows to white/gray so I could see them better. FWIW HalcyonGuy's version has the same problem. I've been trying to understand the code, but I'm still new at programming.
Yeah, all of the code that I've written was built on his as a foundation -- I tried to add a bunch of fail safes to get rid of that but I must be missing something. We'll probably end up needing to pick this code apart bit by bit, but it's definitely a needed fix.
 

Cliff

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