Market Phases Indicator for ThinkorSwim

[jox51]

Try loading these quote columns for your respective time frames.

MarketPhasesOneMin

MarketPhases5Min

MarketPhases15Min

MarketPhases30Min

MarketPhases60Min

 

[Billions]

Try loading these quote columns for your respective time frames.

MarketPhasesOneMin

MarketPhases5Min

MarketPhases15Min

MarketPhases30Min

MarketPhases60Min

Trying to come up with a strategy for this

 

[diazlaz]

@Billions good idea, I don't think it has to be difficult, I think if we all observe the relationships of the states, across the timeframes, and how the states change over the course of days, it can yield a good time and entry bias.

so to get started, something like this:

when the phases start to cycle across the time frames, go to a lower time frame like the 5 min, 1 hour for entry. usually you can see the effects of the phases changing as you up the timeframe.

in this example, cycling for a weekly swing trade, with the 5M (for entry), 1 Hour, 4 Hour, 1 Day and a 3 Day.

In the example of CSCO, I would expect a recovery phase soon in the lower time frames, setting it self up for a potential reversal/trade back to the mean/long, without looking at the chart.

Welcome any other thoughts, ideas and other columns to complement.

 

[Billions]

Yes I see what you mean. Gotta test this tomorrow

 

[jox51]

Updated the code below. Now you don't have to worry about manually inputing the time frames anymore. It will adjust to the chart time automatically. This should help with the constant adjusting. I noticed something in the code was off. Hope this helps.

MarketPhases Updated Chart

MarketPhases Updated Column

 

[Billions]

@jox51 thanks what timeframe do you use

 

[diazlaz]

@Billions good idea, I don't think it has to be difficult, I think if we all observe the relationships of the states, across the timeframes, and how the states change over the course of days, it can yield a good time and entry bias.

so to get started, something like this:

when the phases start to cycle across the time frames, go to a lower time frame like the 5 min, 1 hour for entry. usually you can see the effects of the phases changing as you up the timeframe.

in this example, cycling for a weekly swing trade, with the 5M (for entry), 1 Hour, 4 Hour, 1 Day and a 3 Day.

In the example of CSCO, I would expect a recovery phase soon in the lower time frames, setting it self up for a potential reversal/trade back to the mean/long, without looking at the chart.

Welcome any other thoughts, ideas and other columns to complement.

As a follow-up to the example on CSCO

It's now enter a Bull Phase on the 5M, Recovery on the 1H, might make a good candidate for a short term trade.

Build and a system and share your ideas. Let us know how you plan to trade it

 

[Billions]

As a follow-up to the example on CSCO

It's now enter a Bull Phase on the 5M, Recovery on the 1H, might make a good candidate for a short term trade.

Build and a system and share your ideas. Let us know how you plan to trade it

Will do

 

[Trading51]

Thanks for the updates here is what I'm getting $ES says distribution phase on the Quote Board

https://imgur.com/a/dBQtELI

and the chart says Bear phase

 

[jox51]

@Trading51
Have you loaded the updated column?

 

[Trading51]

@Trading51
Have you loaded the updated column?

Yes both

 

[Trading51]

@Trading51
Have you loaded the updated column?

I had the columns already setup so I just went in and uploaded the new column and then added the new code to each time frame, the new chart works not sure why ES has an issue with being aligned

 

[jox51]

check "include-Extended-Hours Trading Session

 

[Trading51]

check "include-Extended-Hours Trading Session

that was the issue thanks

 

[Billions]

Hi is there anyway we can get an alert on this indicator?

 

[mc01439]

Hi is there anyway we can get an alert on this indicator?

What do you want the alert to indicate?

 

[Billions]

I wanted an alert when it changes phases but that might be too many alerts lol

 

[mc01439]

I wanted an alert when it changes phases but that might be too many alerts lol

In a few trades now - will do the code and send to you in the next hour or so

 

[Billions]

Thank you I appreciate it

 

[mc01439]

Thank you I appreciate it

Paste at the end of the code. You can change the sounds under edit studies

https://imgur.com/kOuYwKg

Alert(condition = bullphase[1] == 1 and bullphase == 0, text = "Bull Phase", sound = Sound.Bell, "alert type" = Alert.BAR);
Alert(condition = accphase[1] == 1 and accphase == 0, text = "Accumation Phase", sound = Sound.Bell, "alert type" = Alert.BAR);
Alert(condition = recphase[1] == 1 and recphase == 0, text = "Recovery Phase", sound = Sound.Bell, "alert type" = Alert.BAR);
Alert(condition = warnphase[1] == 1 and warnphase == 0, text = "Warning Phase", sound = Sound.Bell, "alert type" = Alert.BAR);
Alert(condition = distphase[1] == 1 and distphase == 0, text = "Distribution Phase", sound = Sound.Bell, "alert type" = Alert.BAR);
Alert(condition = bearphase[1] == 1 and bearphase == 0, text = "Bear Phase", sound = Sound.Bell, "alert type" = Alert.BAR);