Mimicking "Power X Strategy" by Markus Heitkoetter

[ApeX Predator]

@cos251 is this the latest code? https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/post-43451

Also, is it supposed to generate the arrows only on 1m charts are users expected to adjust this to their chart time in the properties?

if it is the later, I was wondering why not make it

def aggPeriod = GetAggregationPeriod();

so it works automatically on all timeframes with out user intervention.

 

[cos251]

@SuryaKiranC Good call. I can adjust.

 

[cos251]

Thanks a lot for the Scan. It works perfectly. I have scanned for the Uptrend signal and went through all the scan results. I found that you programmed in such a way that the signal is mostly triggered when a grey bar is followed with a green bar. In this way, the long signal comes quite late and also provides a few false signals. I would like to have the option to get the long signal when the first grey or green bar appears after a series of red bars.

Are you using a higher aggregation period (Time Frame)?
As for the scan, I would recommend scanning for false conditions for UpTrend & DownTrend within X number of bars. Trying to program a scan for as you mentioned is possible. Let me know if you have any luck with the scans and I can try and build another plot into the scans version.

 

[cos251]

This chain started has been nothing short of miracle. However, with expert coders and chartist we need a summary now. Can someone sum up which code to use as final agreed one & which all indicator and it setting we must employ for best results. This summary will be very helpful for all the advanced investors (traders) and/or newbees.

I plan on adding a full write up in the Strategies section a bit later. We've been able to aggregate most of the various requests so far but there are still a few outstanding requests to incorporate. For the moment, I would recommend reading the following article for use of this strategy.

https://rockwell-files.s3.amazonaws.com/PXCompanionGuide2ndEd_cover.pdf

Here is a list of the current versions and basic use.
EDIT - ALL LINKS HAVE BEEN UPDATED.

1. https://usethinkscript.com/threads/rsm-indicator-for-thinkorswim.5407/
   1. Original Lower Indicators Version
   2. Plots RSI, Stochastics or MACD with shaded areas and specific settings for each indicator
   3. Can plot each indicator individually or RSI & Stochastic together or MACD Only
2. https://usethinkscript.com/threads/rsm-indicator-for-thinkorswim.5407/
   1. Standard version which works on time based charts (non-mtf) and TICK charts
   2. Same as #1 but does not specify time periods to allow it to work on TICK charts
3. https://usethinkscript.com/threads/rsm-indicator-for-thinkorswim.5407/
   1. MTF Labels version - will display labels at top of chart for 1m, 2m, 5m, 15m, 30m, 1h, 2h, 4h, D to indicate current trend for each TF
4. https://usethinkscript.com/threads/rsm-indicator-for-thinkorswim.5407/
   1. SCANS
   2. Can be used to scan for stocks in UpTrend, DownTrend, no trend, just started trend

Hopefully this quick summary helps.

 

[ApeX Predator]

@cos251 Thanks for the quick rundown. I was wondering the same last night.

 

[Sree]

Hi Sree,

Well, I’m asking for the code of Sree_Markus_Cleanedup_Version.

Thanks

Thats it friend, Post #126. I just named it such so i'm not confused Sorry for the late reply. You can also use the bullet 1 code from Post #186 here above. Its the same code.

 

[rogtrader]

Thats it friend, Post #126. I just named it such so i'm not confused Sorry for the late reply. You can also use the bullet 1 code from Post #186 here above. Its the same code.

Hello Sree,

Please check Post#126.. its just a screenshot, and there is no thinkscript or thinkscript URL for Sree_Markus_Cleanedup_Version. Thanks!

 

[Sree]

Hello Sree,

Please check Post#126.. its just a screenshot, and there is no thinkscript or thinkscript URL for Sree_Markus_Cleanedup_Version. Thanks!

Rogtrader, Oops, my bad for not checking properly, thought I had put the code. apologies Here we go: This is Version 1.2 code that I saved as a cleaned up version. The actual code is in Post #87. There are more updates after that. That said, I'm still testing Version 1.2. Not copying and pasting here to reduce confusion and redundancies. Hope it won't be a miss this time.

 

[ApeX Predator]

@cos251 Here is how I did my setup. Few tweaks here.

1) StochK set to 14, as intended in original strategy not 5, I understand the original requester tied with 5 and made the request. But it is making a difference in higher timeframe.
2) Set the choppy zone, to White color, since most of us use dark background with TOS, I understand original request is again black.
3) Removed "AssignPriceColor" on the bottom study all together, as this is repainting the TOP Study.
4) Added the Bottom Indicator 3 times, and adjust each instance to Stoch, RSI and MACD.
5) Plotting both 70,20 and 80,30 levels for RSI, for the extreme cases, On bottom RSI plot.
6) Setup the chart type to Bar, looking cool on 1Y-1D and lower frames.

Awesome work on this.

PowerX for TOS

 

[cos251]

@cos251 Here is how I did my setup. Few tweaks here.

1) StochK set to 14, as intended in original strategy not 5, I understand the original requester tied with 5 and made the request. But it is making a difference in higher timeframe.
2) Set the choppy zone, to White color, since most of us use dark background with TOS, I understand original request is again black.
3) Removed "AssignPriceColor" on the bottom study all together, as this is repainting the TOP Study.
4) Added the Bottom Indicator 3 times, and adjust each instance to Stoch, RSI and MACD.
5) Plotting both 70,20 and 80,30 levels for RSI, for the extreme cases, On bottom RSI plot.
6) Setup the chart type to Bar, looking cool on 1Y-1D and lower frames.

Awesome work on this.

PowerX for TOS

Awesome, what other timeframes are you targetting?

 

[ApeX Predator]

Awesome, what other timeframes are you targetting?

Primary 1D for level determinations, 1h and 15m for scalping setups.

 

[TradeUp]

@cos251 Here is how I did my setup. Few tweaks here.

1) StochK set to 14, as intended in original strategy not 5, I understand the original requester tied with 5 and made the request. But it is making a difference in higher timeframe.
2) Set the choppy zone, to White color, since most of us use dark background with TOS, I understand original request is again black.
3) Removed "AssignPriceColor" on the bottom study all together, as this is repainting the TOP Study.
4) Added the Bottom Indicator 3 times, and adjust each instance to Stoch, RSI and MACD.
5) Plotting both 70,20 and 80,30 levels for RSI, for the extreme cases, On bottom RSI plot.
6) Setup the chart type to Bar, looking cool on 1Y-1D and lower frames.

Awesome work on this.

PowerX for TOS

Can you please share your grid?

 

[ApeX Predator]

Can you please share your grid?

https://tos.mx/acCWVew

@TradeUp Please note my changes from above post, there is a bit of code editing for accomplish the changes mentioned.

-Surya

 

[TradeUp]

https://tos.mx/acCWVew

@TradeUp Please note my changes from above post, there is a bit of code editing for accomplish the changes mentioned.

-Surya

Thank you!

 

[ApeX Predator]

if case anybody is wondering how to run scanners. Below are the strings.


FVO_RSM_Scan().UpTrendJustStarted
FVO_RSM_Scan().DownTrendJustStarted
FVO_RSM_Scan().UpTrend
FVO_RSM_Scan().DownTrend

You just need to save the script as FVO_RSM_Scan in your studies, https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/post-43748

 

[ApeX Predator]

@cos251 Changed the MACD histogram colors, purely from a usability point of view. Green on Green in the lower studies a bit hard to see.

Diff.DefineColor("Positive and Up", Color.CYAN);
Diff.DefineColor("Positive and Down", Color.BLUE);
Diff.DefineColor("Negative and Down", Color.RED);
Diff.DefineColor("Negative and Up", Color.YELLOW);

 

[Hersh]

@cos251 This is some great work and I have used it with great success this week; thanks for sharing. Having said that, can you add 2D, 3D, 4D, WK to the signal? I have come to learn that great moves are hidden within these periods.

 

[cos251]

@cos251 This is some great work and I have used it with great success this week; thanks for sharing. Having said that, can you add 2D, 3D, 4D, WK to the signal? I have come to learn that great moves are hidden within these periods.

Are you referring to the MTF Labels?

 

[ApeX Predator]

@Hersh try the fix posted in https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/post-43829 for upper study, that should work anytime frame for upperstudy alerts.
-Surya

 

[cos251]

@cos251 This is some great work and I have used it with great success this week; thanks for sharing. Having said that, can you add 2D, 3D, 4D, WK to the signal? I have come to learn that great moves are hidden within these periods.

Please see updated post.

https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/post-43454