Indicator for Think or Swim based on Rob Smith's The STRAT

[BenTen]

@Timeless ThinkorSwim already provide both patterns as part of their scanner. You just have to load it up.

 

[Timeless]

@BenTen Oh right I can use that for my scanner if necessary, silly me forgot about that lol

 

[shizah]

@Timeless and @Pelonsax This is a great find. I loaded as a study and it changes background color of the chart depending on candle condition. Set up a grid layout with MTF. Once all the backgrounds are green or red, look to possibly enter/exit trades. I'll test this out tomorrow. For example, right now on /ES 5,15,30, and 1 hr are red.

 

[Pelonsax]

I have not

@Timeless and @Pelonsax This is a great find. I loaded as a study and it changes background color of the chart depending on candle condition. Set up a grid layout with MTF. Once all the backgrounds are green or red, look to possibly enter/exit trades. I'll test this out tomorrow. For example, right now on /ES 5,15,30, and 1 hr are red.

I'm not sure what you're talking about. My studies don' do that. (But that's a great idea though!)

 

[Timeless]

I think he's referring to the watchlist column with the hammer and shooting star, if you load it on chart. I don't know if that can even be loaded as an indicator but thats what I assume.

 

[shizah]

I think he's referring to the watchlist column with the hammer and shooting star, if you load it on chart. I don't know if that can even be loaded as an indicator but thats what I assume.

@Timeless - Your assumption is correct. I loaded the watchlist column as a study on a grid with 5m,15m,30m,1hr,D, and WK charts. It's interesting to say the least.

 

[Pelonsax]

@Timeless - Your assumption is correct. I loaded the watchlist column as a study on a grid with 5m,15m,30m,1hr,D, and WK charts. It's interesting to say the least.

I like the idea of changing the background color. I might use that too

 

[Pelonsax]

I just posted a new study at the bottom of the top post.

 

[thinkchart]

Thanks for adding more updates, but your MTF higher time frames still are not working in your newest updates. Just load higher time frame charts to compare, it will show you that your FTFC code shows incorrect signals. Maybe if you explain the logic you are trying to use we can help you? I am hoping to get at least one working script from here after all this testing but no luck.

 

[Timeless]

Thanks for adding more updates, but your MTF higher time frames still are not working in your newest updates. Just load higher time frame charts to compare, it will show you that your FTFC code shows incorrect signals. Maybe if you explain the logic you are trying to use we can help you? I am hoping to get at least one working script from here after all this testing but no luck.

Please show example? because mine works fine. The logic also seems correct for the most part.

 

[Pelonsax]

Please show example? because mine works fine. The logic also seems correct for the most part.

Which specific MTF script are you referring to? Is it the labels? It's possible I uploaded the wrong script.

 

[Timeless]

Which specific MTF script are you referring to? Is it the labels? It's possible I uploaded the wrong script.

I'm using the labels and it seems correct. I'm not 100% sure about the lower one that appears in price/volume but the labels one seems correct.

 

[Pelonsax]

It's not the labels I just checked them. Please be more specific

 

[Pelonsax]

I'm using the labels and it seems correct. I'm not 100% sure about the lower one that appears in price/volume but the labels one seems correct.

The lower one does two things: It prints the current time frame in question, the level that it opened at on that time frame and the color based on whether price is above, below, or the same as the open so green/red/white. I should mention that it will not show any time frame lower than what the chart is set to and higher than the amount of data in the chart. (So if you have it set to 5m 5D, it will not show the one minute label or anything higher than a week.

 

[Russ406]

Is anyone having an issue w/ incorrect info on the hourly time frame? I've tried to make multiple scans for scanning inside bars on hourly and it always brings back plenty that aren't inside bars. I also have the issue on the watchlist columns showing inside when they are not. Below is an example of appl. As you can see it's showing inside but the chart shows 2. I've check to make sure after hours is disabled on both. Oddly I only seem to have this issue on hourly time frame?

 

[Pelonsax]

Thanks for adding more updates, but your MTF higher time frames still are not working in your newest updates. Just load higher time frame charts to compare, it will show you that your FTFC code shows incorrect signals. Maybe if you explain the logic you are trying to use we can help you? I am hoping to get at least one working script from here after all this testing but no luck.

Hey you know what? I had a whole response all written up but I deleted it because ultimately it comes down to this. If you don't like my studies or think they're wrong, you are under no obligation to use them! Others have found them very helpful and I myself have made great advances in my own process since the beginning of this project, but maybe they're just not right for you. Why don't you just quit trying to use my studies since you think that none of them work and let the rest of us keep doing what we're doing. You do you, I'll do me. If what I do helps others, GREAT! that's why I do it. If it doesn't help you, that's okay too! Just move on.

I don't know exactly what the problem is you're having but I know one thing for certain, 100%. The code in that picture of your watchlist was not written by me. You didn't get that on this thread. This is what my watchlist columns look like:

See the differences?

If you want to try my watchlist codes they are on the top post of this thread. I make a point of always updating the top post with the most current versions of each study and that's where I post any new studies that I write.

 

[thinkchart]

Please show example? because mine works fine. The logic also seems correct for the most part.

Like I said "Just load higher time frame charts to compare, it will show you that your FTFC code shows incorrect signals." You'll see it. Right now TSLA and SPY in the last hour of trading are good examples. Intraday labels showing the wrong 2 direction and color.

 

[Pelonsax]

I just updated the top post with a picture of the watchlist columns so we don't have that confusion. I promise I'll go through all of my studies soon and make sure that the studies in the top post reflect the most recent ones in case I made any changes and neglected to update them here. I think I've been pretty good about not letting that happen, but I have gone through several iterations now so a little housekeeping might be in order. I'll comment when I done. You can also find my work on the Facebook STRAT page. I try to keep those up to date as well. I apologize if something slipped through the cracks but as you can all see this has been a pretty voluminous work in progress. Stay tuned! More good things to come!

 

[Pelonsax]

Like I said "Just load higher time frame charts to compare, it will show you that your FTFC code shows incorrect signals." You'll see it. Right now TSLA and SPY in the last hour of trading are good examples. Intraday labels showing the wrong 2 direction and color.

Still have no idea which study you're talking about. Do you know how to post a picture on here? take a screenshot and post it or else I can't help you. BTW I haven't posted any FTFC code just FYI. That's why I don't know what you're talking about.
Here's how to do it: https://usethinkscript.com/threads/how-to-insert-image-in-a-post-thread.277/post-1609

 

[rad14733]

It is entirely possible that some of the issues being experienced by members are not the fault of the strats themselves but, rather, lag in watchlists... Watchlists are lower on the totem pole with regard to refreshing than charts... Not to mention the number of watchlist cells that need to be calculated... Toss in a bunch of charts with multiple studies and strategies and you're just adding more onto Thinkorswims workload... It all contributes to lag... Just some food for thought...