Mimicking "Power X Strategy" by Markus Heitkoetter

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HI @Sree @cos251 Appreciate all ur efforts ... I have gone through the entire PDF on PowerX and I got how it works but your scripts how does they work .... can you please share a TOS link which you are using and how you trade. THanks for your help in advance.
 

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@venkat
Here is a post that has a list of all updated studies.

https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/post-43868

if you are looking for the Whole grid setup, here it is https://tos.mx/UQ8j12s

in addition to that you may have to copy and past the scan script in your study, to make use of scanners. for details and instructions on scanner look for the following post.

https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/post-46140

Hope this helps you with the setup, if you are looking for instructions on how to use it, please look for the last few posts from @cos251 in page 14,15 & 16.

-Surya
 
@cos251, in your screenshot of #313, how did you get the sole coincident yellow arrow (FS5x3) to align with the red/green (FS17x5) arrows in the lower study. I notice that the other yellow FS5x3 arrows which are not coincident with the red/green FS17x5 magically do not plot. Thanks for your help.
 
Thanks for the quick response Surya!!. Do you use the grid? which timeframe you typically use and do u use it for stocks or options? Do you mind sharing any of the trades plz... (even it is for papertrade)
 
I have been using this for about week and half. I do use it in conjunction with RSI_Laguerre for both scalp and swing. I do use 5 min for scalp and 2h,4h & 1D for swing. @venkat
 
Hi all, I apologize if this is a dumb question, but I was trying to scan for all the stocks that are currently in uptrend, not just Uptrend is starting, but looking through the posts it doesn't look like that's an option yet. I've followed ronebbay's instruction on post#318 to scan for stocks for which uptrend is starting and are in uptrend, but doesn't look like it's working. I scanned for "Uptrend is true" condition, but it's giving me stocks that are not in the green cloud. Ex: ABBV, FISV, MNST, EEM, VLO, PSX and roughly 30 other ones. How would I scan for stocks that're already in the uptrend/ in the "green cloud"? I apologize for the inconvenience, but I'm still trying to figure thinkscript out.
 
Hi all, I apologize if this is a dumb question, but I was trying to scan for all the stocks that are currently in uptrend, not just Uptrend is starting, but looking through the posts it doesn't look like that's an option yet. I've followed ronebbay's instruction on post#318 to scan for stocks for which uptrend is starting and are in uptrend, but doesn't look like it's working. I scanned for "Uptrend is true" condition, but it's giving me stocks that are not in the green cloud. Ex: ABBV, FISV, MNST, EEM, VLO, PSX and roughly 30 other ones. How would I scan for stocks that're already in the uptrend/ in the "green cloud"? I apologize for the inconvenience, but I'm still trying to figure thinkscript out.

@dhman06 there are 4 scan Queries available.

Scan Queries:
FVO_RSM_Scan().UpTrendJustStarted
FVO_RSM_Scan().DownTrendJustStarted

FVO_RSM_Scan().UpTrend
FVO_RSM_Scan().DownTrend

The way I setup is, Take a scanner windows, clear all filters and filter Groups, Add filters in "Any of the Following" condition Group.

Add 2 of them and set both to Script and custom, add UpTrend and UpTrendJustStarted and save the query, if you want to restrict the Query to a specific watch list or a default list like S&P 500 you can do so in the dropdown right next to scan setup.

Make sure the scanner timeframe and the chart timeframe you are looking are the same. Also, most of the cloud formation starts after the close of the candle, so if you are referring to 1D charts, and the trend has just started you would have to wait for next candle before you start to see the cloud.

-Surya
 
What kind of result have you been seeing from swing trades? For RSI_Laguerre are you looking at gamma?
I look for the direction of movement and the target using RSI_Laguerre in the same timeframe I am running the scanner, for secondary conformation.
 
I will be day-trading this each day this coming week using a 1 and 5 minute chart. I concur that this is a beautiful effort you have assembled here. One thing to point out, not that it is any problem, is that when you set the upper study to show only LONG trades rather than BOTH, it will still draw the shaded Profit/Loss setup onto the chart when it is not a LONG setup. The setting appears to only remove the down arrow. It might be nice to only show the Profit/Loss setup on the selected LONG/SHORT setting chosen. Easy enough to work with as is though. I'll let you all know how the day-trading goes using this.
 
@dhman06 there are 4 scan Queries available.

Scan Queries:
FVO_RSM_Scan().UpTrendJustStarted
FVO_RSM_Scan().DownTrendJustStarted

FVO_RSM_Scan().UpTrend
FVO_RSM_Scan().DownTrend

The way I setup is, Take a scanner windows, clear all filters and filter Groups, Add filters in "Any of the Following" condition Group.

Add 2 of them and set both to Script and custom, add UpTrend and UpTrendJustStarted and save the query, if you want to restrict the Query to a specific watch list or a default list like S&P 500 you can do so in the dropdown right next to scan setup.

Make sure the scanner timeframe and the chart timeframe you are looking are the same. Also, most of the cloud formation starts after the close of the candle, so if you are referring to 1D charts, and the trend has just started you would have to wait for next candle before you start to see the cloud.

-Surya
I ran the UpTrend scan, but it's picking up stocks that are not in UpTrend. For Ex: ABBV, FISV, MNST, EEM, VLO, PSX and roughly 30 other ones.
 
I ran the UpTrend scan, but it's picking up stocks that are not in UpTrend. For Ex: ABBV, FISV, MNST, EEM, VLO, PSX and roughly 30 other ones.
Can you post a screenshot? list details what timeframe is your scanner, what timeframe is your chart.
 
@SuryaKiranC @cos251 I believe this is what @andre.muhammad was referring to:

F2Wkxd0.png
 
Can you post a screenshot? list details what timeframe is your scanner, what timeframe is your chart.

Please see the attached links below. Scan code shows that I'm scanning for tickers that have "Uptrend = True" condition on Daily and Scan results shows some of the tickers, ex: ABBV, FISV, MNST, EEM, VLO that aren't on Uptrend showing up. Both the scan and my charts are on Daily

LUAeBLo.jpg


8rK2zjD.jpg
 
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I will be day-trading this each day this coming week using a 1 and 5 minute chart. I concur that this is a beautiful effort you have assembled here. One thing to point out, not that it is any problem, is that when you set the upper study to show only LONG trades rather than BOTH, it will still draw the shaded Profit/Loss setup onto the chart when it is not a LONG setup. The setting appears to only remove the down arrow. It might be nice to only show the Profit/Loss setup on the selected LONG/SHORT setting chosen. Easy enough to work with as is though. I'll let you all know how the day-trading goes using this.
Good catch. I will adjust the code to accommodate for this bug. Thx for finding it @HikingMan
 
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