Mimicking "Power X Strategy" by Markus Heitkoetter

[ApeX Predator]

@cos251 This is so damn good. I like the levels on multi-day so much, It should be illegal not to have it on multiple day.

 

[barbaros]

@cos251 This just occurred to me. Why is K set at 5 instead of the default 14? Everything else is set to default values.

 

[cos251]

@SuryaKiranC - love your comment man! thx so much!

 

[cos251]

@cos251 This just occurred to me. Why is K set at 5 instead of the default 14? Everything else is set to default values.

@barbaros - that was per the initial requirements of the OP. It can be adjusted in settings.

 

[barbaros]

@barbaros - that was per the initial requirements of the OP. It can be adjusted in settings.

Thanks @cos251

Original doc from the author refers to the default settings. After your comment, I realized that @Joseph Patrick 18 recommended "Stoch Slow 5(not14) and 3 WILDERS" after he observed the signals line up better.

Is everyone using K 5 or 14 is better at 5min?

 

[ApeX Predator]

@cos251 This just occurred to me. Why is K set at 5 instead of the default 14? Everything else is set to default values.

What @cos251 said. He coded based on the original request and kept on improving the asked enhancements. as for values, you can change them to what you want and even match the setting on the Original Strategy settings, K to 14.


I did mine and I am painting the choppy zone bars White, as I use dark background on TOS.

-S

 

[cos251]

Thanks @cos251

Original doc from the author refers to the default settings. After your comment, I realized that @Joseph Patrick 18 recommended "Stoch Slow 5(not14) and 3 WILDERS" after he observed the signals line up better.

Is everyone using K 5 or 14 is better at 5min?

Pardon me @barbaros - you are correct sir. Couldn't remember where that came from originally.

 

[barbaros]

Pardon me @barbaros - you are correct sir. Couldn't remember where that came from originally.

Excellent job with the code @cos251 and all the contributors.

 

[RickAns]

Very nice!

 

[J007RMC]

Nice job man

 

[Brettser16]

is there a script of this new setup that anyone can share? thanks

 

[cos251]

is there a script of this new setup that anyone can share? thanks

https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/post-42978

 

[Joseph Patrick 18]

Hi All.... - so sorry for the delay. I've had a rough go of trying to figure out a few updates for the latest version of the code but I think I have at least a decent working version. There are many additions in this code now and it is getting a little heavy. I apologize if this particular version does not have what you are looking for. I am happy to continue plugging away at further enhancements.

For now here are the updates available in Version 1.4 of the Standard Code (single TF/Tick version) Added the updates to this version as it is the most reliable at this time for quick and easy use.

Link to updated code - https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/post-42978
Again Version 1.4

Updates are as follows

1. Dynamic ATR/ADR Targets/Plots on the start of an UpTrend or DownTrend
2. Dynamic Stop Loss at 1x the ATR/ADR
3. Dynamic Stop Loss adjustment in settings; currently set to 1.0
4. Shading for ATR/ADR Targets/Plots - can be turned on or off
5. Extra Targets (4-6) - can be enabled in settings
6. Option to only show Dynamic Targets for TodayOnly
7. Ability to plot ATR/ADR and all settings described above for Daily Chart - BUT MUST TURN OFF "showTodayOnly"
8. Dynamic ATR/ADR Target Labels at top of chart for current trend
9. Dynamic Trend Labels will display when trend started, at what price and how many bars are in current trend
10. Debug function - miscellaneous labels that can be used for debug purposes - remove if you like

It has taken me a good while to get all these plots down correctly but I think this is a good point

Now I will say this can make the chart look a little messy depending on your taste. I'll let you guys be the judge. I also have the same copy in MTF version but there is an issue with the Target Plots once the trend starts. It does not plot correctly but eventually straightens out. I'll see if I can figure out how to adjust it.

The ATR/ADR calculations are also pretty standard, if you see issues with them please let me know so I can adjust the script and ensure accurate calculation for all.
I'll add edits below as I think of them. For now see fresh version of code with link above and screenshots for reference below.
Thanks so much for your patience.

MSFT Today on 5m TF with "showTodayOnly" set to "yes"

MSFT on Daily Chart with "showTodayOnly" set to "no" (Must be set to "no" so plots will work on daily)
Trend Labels set to "yes" for example purposes

Cos this is amazing!! Thanks so much!!!!

 

[ALV]

Hi All.... - so sorry for the delay. I've had a rough go of trying to figure out a few updates for the latest version of the code but I think I have at least a decent working version. There are many additions in this code now and it is getting a little heavy. I apologize if this particular version does not have what you are looking for. I am happy to continue plugging away at further enhancements.

For now here are the updates available in Version 1.4 of the Standard Code (single TF/Tick version) Added the updates to this version as it is the most reliable at this time for quick and easy use.

Link to updated code - https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/post-42978
Again Version 1.4

Updates are as follows

1. Dynamic ATR/ADR Targets/Plots on the start of an UpTrend or DownTrend
2. Dynamic Stop Loss at 1x the ATR/ADR
3. Dynamic Stop Loss adjustment in settings; currently set to 1.0
4. Shading for ATR/ADR Targets/Plots - can be turned on or off
5. Extra Targets (4-6) - can be enabled in settings
6. Option to only show Dynamic Targets for TodayOnly
7. Ability to plot ATR/ADR and all settings described above for Daily Chart - BUT MUST TURN OFF "showTodayOnly"
8. Dynamic ATR/ADR Target Labels at top of chart for current trend
9. Dynamic Trend Labels will display when trend started, at what price and how many bars are in current trend
10. Debug function - miscellaneous labels that can be used for debug purposes - remove if you like

It has taken me a good while to get all these plots down correctly but I think this is a good point

Now I will say this can make the chart look a little messy depending on your taste. I'll let you guys be the judge. I also have the same copy in MTF version but there is an issue with the Target Plots once the trend starts. It does not plot correctly but eventually straightens out. I'll see if I can figure out how to adjust it.

The ATR/ADR calculations are also pretty standard, if you see issues with them please let me know so I can adjust the script and ensure accurate calculation for all.
I'll add edits below as I think of them. For now see fresh version of code with link above and screenshots for reference below.
Thanks so much for your patience.

MSFT Today on 5m TF with "showTodayOnly" set to "yes"

MSFT on Daily Chart with "showTodayOnly" set to "no" (Must be set to "no" so plots will work on daily)
Trend Labels set to "yes" for example purposes

Cos and all contributors - thank you so much for all the effort and time invested developing this script and making it available for the community. It's great. I have been following it and informally testing in SIM and the results are amazing. Again, THANK YOU!!

 

[Pablobar]

Here is my interpretation.

Total of 12 tradable signals.
9 wins.
2 losses.
1 questionable.

Edit: I forgot to label 2 good long trades in the screenshot below.

Thoughts?

Could you please share the url for TOS of your work? Thanks

 

[Gvaro]

@cos251 It's possible to add an audible alert when an arrow displays either up or down for this indicator?

 

[cos251]

Hi @Gvaro - you can add the following to the bottom of the script. This is a very simple, feel free to tweak the sound type, text and alert frequency.

#### ALERTS Sound
alert(upArrow,"RSM UpTrend Started",alert.BAR,sound.DING);
alert(downArrow,"RSM DownTrend Started",alert.BAR,sound.DING);

 

[Gvaro]

Hi @Gvaro - you can add the following to the bottom of the script. This is a very simple, feel free to tweak the sound type, text and alert frequency.

#### ALERTS Sound
alert(upArrow,"RSM UpTrend Started",alert.BAR,sound.DING);
alert(downArrow,"RSM DownTrend Started",alert.BAR,sound.DING);

Perfect!! Thank you! @cos251

 

[ApeX Predator]

In my opinion, we shouldn't try to line them up, but give the alert based on, each of the 3 when they cross their respective mid lines. specially if you are using 3 different instances of studies, each set to RSI, Stoch and MACD respectively.

I use 14 for Stoch K.

-S

 

[Joseph Patrick 18]

In my opinion, we shouldn't try to line them up, but give the alert based on, each of the 3 when they cross their respective mid lines. specially if you are using 3 different instances of studies, each set to RSI, Stoch and MACD respectively.

I use 14 for Stoch K.

-S

Thanks SuryaKiranC, I adjusted it back to 14...I didn't realize but now understand what you are saying and appreciate your help! Thanks and Happy Holidays to you and your family! Thanks ....I deleted the post...

Dumb question, what do you have for all 3 of your settings for the RSI settings, the Stoch, and MACD settings? Thanks appreciate it...I will adjust once you get back to me.

Sorry Everyone for the miscommunication it was unintentional!