Market Mover Indicator for ThinkorSwim with Trading Strategy

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horserider

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Thinky Here are a few alternatives. Compare and see what works best for you. Personally I would avoid studies that have problems working on the platform you are using. Not sure how you trade so will include options for short and longer term.
Double RSI with std. dev bands and average line to give signals. Setting are for shorter term trading and should closely match Market Mover.
http://tos.mx/kwiY4d
Same with longer term settings.
http://tos.mx/oqUcix
RSI LAguerre Modulation
http://tos.mx/dA9wvu
MACD with short setting. For longer term change to 12 26 9
http://tos.mx/yfIFbf

Feel free to ask any questions about these studies.
 
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thinky

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Looking for studies/strategies for intraday trading.
 
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markos

markos

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@thinky there are many here to choose from. Could you be more specific about what you are looking for? I understand intraday trading is what you are looking for, but are you looking at options as well as stocks? Long as well as short? And so that the people that help here don't give you the wrong information, what has worked for you? @BenTen and the rest of us will be able to help you much better. Thanks! :cool:
 
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thinky

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@markos Interested in trading intraday options (long and short), but my focus is on the underlying stock to determine direction.

The ORB study/strategy has provided a good framework to start with. I try to determine if a study/strategy is being used successfully and learn from the experience of others.

Something I'm working on is the time frames of studies and how to set the charts/studies (layout in Charts and Flexi Chart) so there's a minimum of harmony between them and don't get meaningless, or misleading info. Same for the watchlist scripts.
 
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horserider

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@thinky The studies just shared in this thread with settings specified for short term can be used for intraday. All are momentum studies and one of those should be able to provide momentum information. Consider trend and volatility / volume and support/resistance and you should be set to go.
 
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blackbeard12

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@horserider Hey man what were the short settings for the MACD? When I downloaded it, it was default 12,26,9
 
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horserider

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@blackbeard12 Sorry. Try 6 13 6 Trade it like a Bollinger band strategy. Going outside or hitting the bands gives better chance of reversion. Bands show volatility. The MACD line can signal early a change and the crossing of average line confirming it. Best trades are from narrow bands to quick widening with the MACD riding one of the bands up or down. The settings do not make a huge difference so use what you like best. I had adjusted the settings to match the market mover signals more closely but avoid the scaling problems.
 
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shantimd

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How can I get the 5 SMA integrated in the lower chart with RSI?
 
BenTen

BenTen

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@shantimd By dragging the upper study into the lower study. Have it in the same section as the RSI. If you do it this way, be sure to read the warning section from the original thread.
 
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horserider

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@shantimd Actually you cannot integrate the SMA and RSI in ToS as far as I know. The hack mentioned here will not scale the two indicators properly over a full chart. The signals will be dependent on how you zoom into a section of the time frame of the time period of the entire chart. So be careful. Alternatives were mentioned and I would suggest one of those instead.
 
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corello

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@BenTen how can I get the advanced version with the signals (arrows) without the scaling errors?

And also, does this indicator give signals in real-time?
 
BenTen

BenTen

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@corello You can become a VIP member and get access to it. It doesn’t have any scaling problems since there is no need for an oscillator study and yes it works in real time.
 
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corello

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@corello You can become a VIP member and get access to it. It doesn’t have any scaling problems since there is no need for an oscillator study and yes it works in real time.
@BenTen Just donated. I put my name in the main VIP thread. Thanks again!
 
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markos

markos

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@shantimd Actually you cannot integrate the SMA and RSI in ToS as far as I know. The hack mentioned here will not scale the two indicators properly over a full chart. The signals will be dependent on how you zoom into a section of the time frame of the time period of the entire chart. So be careful. Alternatives were mentioned and I would suggest one of those instead.
I thought I saw this done on the RSI on this site a few weeks or months ago. (time moves too fast) What did that involve?
 
markos

markos

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@markos Interested in trading intraday options (long and short), but my focus is on the underlying stock to determine direction.

The ORB study/strategy has provided a good framework to start with. I try to determine if a study/strategy is being used successfully and learn from the experience of others.

Something I'm working on is the time frames of studies and how to set the charts/studies (layout in Charts and Flexi Chart) so there's a minimum of harmony between them and don't get meaningless, or misleading info. Same for the watchlist scripts.
@thinky, it's been 2 weeks, just wanted to check in on how you felt your progress was. Markos.
 
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thinky

Member
Went back to basics, but kept ORB indicator and added a couple of basic indicators long-term, like Bollinger Bands and MACD (keeping EMA Crossover on the side for fast short-time signals, but not important). Only keeping what works.

The TT videos on RSI Laguerre Time (TT script, but had the modified one and the fractal energy next to each other) look great, but SPY has not been moving much intraday and that indicator didn't work like in the videos (using TT's logic).

Will check the new enhanced indicator available this Friday, but coming up with a good strategy seems more important than indicators. Thinking about scalping SPY, now need to prove this strategy is workable.
 
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horserider

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@markos I had put an alternative to market mover earlier. Maybe this is what you saw. The bottom panel is stripped down to mimic Market Mover.
 
markos

markos

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@markos I had put an alternative to market mover earlier. Maybe this is what you saw. The bottom panel is stripped down to mimic Market Mover.
No that isn't what I Thought I saw. Maybe it was in another place. Maybe I just imagined it. I do like what you did at any rate. ☺
 
markos

markos

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Went back to basics, but kept ORB indicator and added a couple of basic indicators long-term, like Bollinger Bands and MACD (keeping EMA Crossover on the side for fast short-time signals, but not important). Only keeping what works.

The TT videos on RSI Laguerre Time (TT script, but had the modified one and the fractal energy next to each other) look great, but SPY has not been moving much intraday and that indicator didn't work like in the videos (using TT's logic).

Will check the new enhanced indicator available this Friday, but coming up with a good strategy seems more important than indicators. Thinking about scalping SPY, now need to prove this strategy is workable.
@thinky I need to be brief, Very short term, Mobius has espoused ORB with Supertrend, I've not used it. Advice, do what you are doing, stick with one product (SPY) and look at it in multiple timeframes, like Daily, One hour and 15 min to see how they react together. Live with an indicator for a while just to get a feel for it. Personally I love the RSI Lg set at 8,13,8 but I am on a Weekly, Daily and occasionally 1 hour time frame. Don't fall in love with a position or think you are right, ego means nothing and the market doesn't care what you think you know... so much for brevity. Good Trading, Markos.
 
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thinky

Member
Will try it again on a daily chart with those parameters (your version and the one from TT behaved differently, something to check later).

Funny how some old videos look like they were made this year, talking about the tight ranges (especially in the Summer).
 
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