Mimicking "Power X Strategy" by Markus Heitkoetter

Chence27

Member
I have been trying to use this study on 5 min chart, when I get the signal (either long or short) on 5 min, then I go into 1min chart and find the entry in (long or short). Seems to be working well (paper testing currently). Any guidance will be appreciated
Sounds good. Let me know what the win/loss ratio is looking like.
 

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Ictheeuss

New member
@cos251 Thank you very much for all the hard work you and others have put into this indicators. Ive been following the thread and it's amazing. Any chance the up/down signal arrows can work on mobile?
 

SuryaKiranC

Active member
It's awfully quite here, so making some noise. Another Power-X win COST again perfect 367.5 / 370 C Vertical entry and exit. from .50c to 1.15$.
 

SuryaKiranC

Active member
@barbaros Well, the truth is I cheated, I was on the chart, 15m. I have 3 instances of lower indicator each instance set for RSI, Stoch and MACD, I could see RSI holding and Stock just crossed the mid line. It's only MACD that didn't hence I did this as a Vertical, instead of naked call.

But this morning 2nd candle, 15m chart again made the power-X green zone. held it through all the way to the end of it.

EDIT: forgot to mention, another thing I have noticed is the MTF Labels on the UpperChart that was showing Green for 20m,30m,1H and 2H, it helps to see higher timeframes are holding in the direction of the trade.

-S
 
Last edited:

JDS300

New member
VIP
It's awfully quite here, so making some noise. Another Power-X win COST again perfect 367.5 / 370 C Vertical entry and exit. from .50c to 1.15$.
I've had some success so far using this setup. I mainly trade credit spreads, so far I've been able to close out 3 trades based on the bullish/uptrend signal from the scan. I generally enter my trades between 3p-4p so that usually allows things to be confirmed that the day was an up. This is all on a daily chart. I will find anything around .32 Delta and lower at a width of $2-$5 that returns a good risk/reward.

So far 3 winners. We will see how the next 3 do. :)

Closed Trades: (CR = Credit, DR = Debit, PFT = Profit %, DIT = Days In Trade)

Open: BLNK (POWERX) 1/8/2021, 35/33, 0.35 CR
Close: BLNK (POWERX) 1/8/2021, 35/33, 0.18 DR, 41.1% PFT, 2 DIT

Open: FSLR (POWERX) 1/29/2021, 89.5/87.5, 0.35 CR
Close: FSLR (POWERX) 1/29/2021, 89.5/87.5, 0.17 DR, 44% PFT, 12 DIT

Open: PTON (POWERX) 1/29/2021, 135/133, 0.47 CR
Close: PTON (POWERX) 1/29/2021, 135/133, 0.24 DR, 43.4% PFT, 17 DIT

Open Trades: (CR = Credit, DR = Debit, PFT = Profit %, DIT = Days In Trade)

Open: ROKU (POWERX) 2/19/2021, 335/330, 1.21 CR
Open: CZR (POWERX) 2/19/2021, 65/60, 0.69 CR
Open: BIDU (POWERX) 2/19/2021, 195/190, 0.92 CR
 

cos251

Active member
@cos251 Can you share your watchlist script or the ATR column?
Definitely.

ATR Column
Code:
input ATRLength = 14;
input averagetype = AverageType.WILDERS;
input BasePeriod = AggregationPeriod.DAY;
input showlabel = yes;

def ATR = MovingAverage (averagetype, TrueRange(high(period = BasePeriod)[1], close(period = BasePeriod)[1], low(period = BasePeriod)[1]), ATRLength);

def Today_High = Highest(high(period = baseperiod)[0], 1);
def Today_Low = Lowest(low(period =baseperiod)[0], 1);

def DR = Today_High - Today_Low;

#AddLabel(showlabel, "Day Range: " + Round(DR , 2) + " vs. ATR:" +round(ATR,2));
#def atrLbl;
plot atrLbl = Round((DR/ATR)*100,0);
atrLbl.AssignValueColor(Color.Black);
#ddLabel(showLabel,atrLbl);
AssignBackgroundColor(if atrLbl > 400 then Color.CYAN else if atrLbl > 300 then Color.GREEN else if atrLbl > 200 then Color.LIGHT_GREEN else if atrLbl > 100 then Color.YELLOW else Color.Red);


RVOL Column
Code:
def isRollover = GetYYYYMMDD() != GetYYYYMMDD()[1];
def beforeStart = GetTime() < RegularTradingStart(GetYYYYMMDD());
def vol = if isRollover and beforeStart then volume else if beforeStart then vol[1] + volume else Double.NaN;
def PMV = if IsNaN(vol) then PMV[1] else vol;
def AV = AggregationPeriod.DAY;
def x = Average(Volume(period=AV)[1],14);
def y1 = Round((PMV/x),2);
def L = Lg(y1);
def p = if L>=1 then 0 else if L>=0 then 1 else 2;
def y2 = Round(y1,p);
#plot z = y2;
#z.assignValueColor(if z>=10 then color.CYAN else if z>=1 then createcolor(255,153,153) else createcolor(0,215,0));
AssignBackgroundColor(if y2 > 10 then Color.BLUE
else if y2 > 8 then Color.DARK_GREEN
else if y2 > 6 then Color.GREEN
else if y2 > 4 then Color.LIGHT_GREEN
else if y2 > 2 then Color.LIME
else if y2 > 1 then Color.YELLOW
else if y2 < 1 then Color.ORANGE else Color.BLACK);
AddLabel(yes, y2, Color.BLACK);

The alert I cannot share yet.
 

tron

New member
@cos251 curious how you use the Buy/Sell strength column on your watch list and if you correlate it with the ATR and RVOL info. Also, the Alert column looks interesting, will you be able to make the Alert column available or does it fall under a proprietary signal.

This has been a great thread to learn and pick up great ideas, thanks for all that you do and thanks to everyone else.
 

cos251

Active member
@cos251 curious how you use the Buy/Sell strength column on your watch list and if you correlate it with the ATR and RVOL info. Also, the Alert column looks interesting, will you be able to make the Alert column available or does it fall under a proprietary signal.

This has been a great thread to learn and pick up great ideas, thanks for all that you do and thanks to everyone else.
Great question! I would say yes, although I don't have it down to a science by any means. Things to look for with all 3 indicators are either continuation, pattern setups looking to break resistance levels or reversals. If there is enough buying and a pattern setup starts to form that is bullish then that could be an indicator of potential to the upside, same with the downside.
 

tron

New member
@cos251 That makes sense. I prefer to be long in trades at this point in my trading endeavor. I've been filtering high to low Buy/Sell strength to see if this will alert me to potential long opportunities, assuming PowerX and RAF signals are all in line. I've made a few swing trades, but for day trading I'm just trying to develop a system that works for me. You all have helped me immensely.
 

FOTM_8888

Member
VIP
hi to all in this community. a quick question the someone have the excel his use on the strategy? thank you in advance!
 

barbaros

Active member
Guys, I saw a PowerX scanner the other day. Most interesting parameters were the performance based. I tried to implement ROI, Win Rate, etc. It somewhat works as an indicator but ToS scanner says it is too complex to run and it won't allow me to run it.

Scan for stocks that has:
ROI >= 60%
Min Win >= 40%
Risk to Reward >= 2

Any ideas how to make this work on ToS?
 

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