MACD with Bollinger Bands Indicator for ThinkorSwim

[s1111]

@germanburrito one this was missing was 0 line. I like the way you had before that lights up red and green. I went to your old script and copy-paste it into the new script you shared and damn I love the way it looks now with your and @RickK script combined. I added this code
plot zero = 0;
zero.AssignValueColor(if MACD_Line < 0 then Color.RED else Color.GREEN);
zero.SetLineWeight(2);

Felt great just to copy-paste and the script came alive lol . You all are so talented people writing codes , I applaud you all

 

[barbaros]

@Hypoluxa Thank you for sharing your strategy. I try not to swing trade too much so 10mins is a long time for my taste. I tried your strategy with DIS this morning as it popped up on my scanner. It bounced back from VWAP. There may be a benefit to use support/resistance levels with this strategy. However, it seems to be pretty good for the patient traders like you mentioned.

 

[Fluideng]

@barbaros Its hard to trade against the trend. So try to only take a long position only when the signal line is above the Zero line and short only when it is below the Zero line.

 

[Trader Raider]

Just a little update to say this indicator has been golden all week trading both US and globex sessions. I set up scans (5 min time frame) to alert when the dots cross below the lower BB band for shorts and above the upper BB band for longs. When the indicator is in alignment on multiple time frames, I set profit targets based on fibs. 50 and 200 EMAs confirm long term trend so I don't pay too much attention to the zero line.

All my trades this week were futures with charts ranging from 1 min to daily time frame with S/R based on hourly and daily charts. I was profitable using @Hypoluxa's 2m, 6m, 10m strategy. I was also profitable with swing trades based off 30m, hourly, and daily charts, however that requires a risk tolerance for larger stop losses.

This indicator keeps my charts clean so that my brain can process price action when I look left. Thanks again, @BenTen and @Hypoluxa.

 

[JoeSD]

I apologize if I missed it in this thread, but did someone create a SCAN for this MACD BB study? Thanks and if you could post either link to scan or code much appreciated

 

[Trader Raider]

@JoeSD, scanning with this indicator is simple. Just open your scan tab and create a new scan. Then select the MACD BB study (or whatever you named it when you saved it). Scan for MACD_Dots crossing above the BB_Upper for longs and below the BB_Lower for shorts. Use the offset function if you want the scan to return crosses within X number of bars. Hope that helps Happy Trading!

Am having trouble posting an image. Here's the URL to the image:

https://imgur.com/a/If1kAtM

I should probably note that's the scan I use for @Hypoluxa's strategy for long entries in post #14 on the first page of this thread.

 

[JoeSD]

@Trader Raider - Is it possible to have 1 scan which addresses BOTH when the BB dots cross above OR when they cross below? Or do I have to have 2 separate scans? Thanks.

 

[rad14733]

@Trader Raider - Is it possible to have 1 scan which addresses BOTH when the BB dots cross above OR when they cross below? Or do I have to have 2 separate scans? Thanks.

It can be done but it would be up to you to determine whether the scan result is for long or short...

 

[Trader Raider]

@Trader Raider - Is it possible to have 1 scan which addresses BOTH when the BB dots cross above OR when they cross below? Or do I have to have 2 separate scans? Thanks.

Yes, as @rad14733 noted above, one scan could pick up both types of BB crossing. The TOS scanner allows you to scan for all, any, or none of the criteria entered. Therefore, you could do a simultaneous scan for dots crossing above the upper BB or below the lower BB.

 

[BillW]

@Fluideng here is a zero line cross alert. I trade micros right now and this keeps me in the corral.

# Alerts
Alert(bull_cross, "UP arrow alert", Alert.Bar, Sound.Chimes);
Alert(bear_cross, "DOWN arrow alert", Alert.Bar, Sound.Chimes);

 

[Buck]

@Fluideng here is a zero line cross alert. I trade micros right now and this keeps me in the corral.

# Alerts
Alert(bull_cross, "UP arrow alert", Alert.Bar, Sound.Chimes);
Alert(bear_cross, "DOWN arrow alert", Alert.Bar, Sound.Chimes);

Where do I put this in order to create the alert? Thanks

 

[BillW]

I put them at the bottom of the script

def bull_cross = MACD_Line crosses above zero;
def bear_cross = MACD_Line crosses below zero;

# Alerts
Alert(bull_cross, "UP arrow alert", Alert.Bar, Sound.Chimes);
Alert(bear_cross, "DOWN arrow alert", Alert.Bar, Sound.Bell);

 

[Buck]

I put them at the bottom of the script

def bull_cross = MACD_Line crosses above zero;
def bear_cross = MACD_Line crosses below zero;

# Alerts
Alert(bull_cross, "UP arrow alert", Alert.Bar, Sound.Chimes);
Alert(bear_cross, "DOWN arrow alert", Alert.Bar, Sound.Bell);

Thank you

 

[salehz94]

Ben...you're a genius with this indicator! I've been testing it for a week or so and put it to use this week. I've tweaked it with different timeframes 2/6/10 and each has a different setting since it needs to adjust for those timeframes - 2min is 20, 6min is 15 and the 10min is 12. For a put...I wait until all 3 have crossed below the bottom line of the Bollinger band and for a call all 3 need to be above the top line of the Bollinger band, I also use the MACD histogram for additional confirmation - that is set to 48/104/36 on each timeframe.

I'm 3 for 3 this week for $7500 profit. This indicator has made me become very patient, by waiting for the "perfect" moment when they have all crossed over.

Thank you for having the ability to see that indicators like this would be helpful!

Thanks for your contribution here. This is amazing. Question for you...have you found settings that work well on the hourly and daily time frames for swings? @Hypoluxa

 

[Hypoluxa]

Thanks for your contribution here. This is amazing. Question for you...have you found settings that work well on the hourly and daily time frames for swings? @Hypoluxa

You’re welcome!
No, I’ve never tried a timeframe that high. To be honest, I finally made myself move up to 10 mins just a couple of months ago. Lol

 

[salehz94]

You’re welcome!
No, I’ve never tried a timeframe that high. To be honest, I finally made myself move up to 10 mins just a couple of months ago. Lol

Lol got it! Do you still use the macd histogram or have you switched to ttm squeeze....I saw on your amazon put method you use ttm and dmi instead of macd histogram @Hypoluxa

 

[Hypoluxa]

I'm very fond of the Histogram...I switch back and forth from time to time with that one and a couple others. But for now...its TTM

 

[salehz94]

I'm very fond of the Histogram...I switch back and forth from time to time with that one and a couple others. But for now...its TTM

Do u have special settings for the ttm for the 2,6,10 time frames? @Hypoluxa

 

[Hypoluxa]

Do u have special settings for the ttm for the 2,6,10 time frames? @Hypoluxa

For which stock symbol setup are you inquiring about?

 

[salehz94]

For which stock symbol setup are you inquiring about?

I know you have specific ones for amazon but do you have a generic one to use with the Macd BB 2,6,10tf strategy you have here. If you also have a specific one for spy that would be nice @Hypoluxa