Momentum Keltner Channels for ThinkorSwim

[Pensar]

That works great, is it possible to get the label with the number in it too?

@K_O_Trader I updated the above code with the count.

 

[K_O_Trader]

@K_O_Trader I updated the above code with the count.

its still not giving me a count

 

[Pensar]

its still not giving me a count

@K_O_Trader Works fine on my chart. Did you take the updated code?

 

[K_O_Trader]

@K_O_Trader Thank you, got it, copying the wrong one

 

[lzstock]

I do love this one. Is it possible when we do a scan in the watchlist to have the two values of the channel also appear in it. It can be in two separate columns even or all together. I think it would help to tell us how close it is to the values in the channel.

 

[PhinsUp]

@Pensar, do you mind explaining how one uses this?, what time frame this works on, etc?

 

[lzstock]

Thanks for the response. So I was thinking daily. I see the number displayed. Like DG is currently 99. The High is the channel is 194.52 and the low is 191.03. It would be nice to see how close it is to the channel values. Or is there another way I can pull the channel values maybe using the EMA? I take the values on the scan and often export to excel.

 

[BenTen]

@PhinsUp Since this indicator is based on FW_Mobo, I think this will give you some insight into it:

MOBO (Momentum Breakout Bands) study suggests that all markets and stock prices have a period where they chop or have a noise level that is trendless.

Using settings on adjusted standard deviation bands (Bollinger Bands®), the study has momentum breakouts above the bands for positive moves and momentum breakdowns for price breaks below the bands. This works for all time periods and tick charts.

 

[PhinsUp]

Thank you @BenTen

 

[David45]

This indicator is excellent @Pensar! What I love about your indicators is their simplicity. Easy to understand and visually clean and simple on the charts. You my friend, are a very talented coder with thinkScript and thank you for your willingness to share your creations with the community.

 

[sivakumar777]

for the watchlist code, I added from dropdown>custom quotes>custom1 (double click) added code in the editor and set to D .. I am getting "error secondry period can not be first" .. BTW I added this column to one of my existing watchlist

 

[Pensar]

for the watchlist code, I added from dropdown>custom quotes>custom1 (double click) added code in the editor and set to D .. I am getting "error secondry period can not be first" .. BTW I added this column to one of my existing watchlist

@sivakumar777 The chart label code is not compatible with the watchlist column since it has a hard-coded aggregation. Take the second code from this post instead.

 

[profitmaya]

I'm not getting how to make use of this indicator. I was looking at TQQQ with this indicator as shown below, TQQQ for today is up by 1.84% and this indicator shows Red, does it mean to short or buy the put options? How this needs to be used for day trading? Can this be used for option trading?

Also, where should I put the watchlist code, can you

I was able to copy the scanned and got 2 stocks under my stock list but not getting why they were listed or whether to short or long on them?

It would be great if you can let me know the instructions on what do with the watchlist code or where to paste it in ToS

 

[MerryDay]

@profitmaya The watchlist code can be found in post# 5. A tutorial for creating watchlists can be found here:
https://intercom.help/simpler-tradi...ow-to-create-a-custom-watchlist-column-in-tos

As to what to do from the results of your scan: No one indicator makes successful trades. You need to look and see if this complements your overall stock strategy.

 

[rad14733]

Don't know how I missed this one...

Red = Shorts or Puts
Green = Longs or Calls

Confirmation by at least one other indicator preferred for actual trade decisions... Color indicates trade trend rather than price trend... Think "The trend is your friend"...

 

[PhinsUp]

@Pensar is it possible to make this script available via Tradingview?

@rad14733 what time frame have you been having success with this on? also any recommendations what other indicator may be useful with this?

 

[MerryDay]

This study tracks like moving average crossovers however I feel it smoothes out the edges and therefore shows the overall trend somewhat better. Like @rad14733 said it is used to indicate trends so can be used successfully with any trending strategy.

Successful trending strategies look at price action along w/ support and resistance and volume and then one of the hundreds of oscillators like RSI, TMO or Stoch's to time entry and exits. One also needs to look at the overall Market Trend as it doesn't pay to buck the trend. Searching some of the other threads concerning trend indicators will elucidate how others are using them.
Search for SuperTrend, Half-Trend, Trend Magic, Trend Painter, Blue Magic to name a few.

I am a swing trader, not a scalper so trending strategies work great for longer intraday and daily aggregations.
Trend is difficult to establish in the very short aggregations but I suppose it could be used to keep you out of downtrends if you are going long and vice-a-versa.

I love this study! Thank you @Pensar for sharing it.
This is a study is not a strategy. If you search this site there are almost 700 results for moving average /trending strategies. One for everyone.

 

[Pensar]

@PhinsUp This indicator likely could be coded for TradingView, but I dont know PineScript. Try to find someone who can convert it.

 

[venkym]

@Pensar When i add it in watch list column even for breakdown state it showing as number X, but is there anyway we can define it as "-x" for breakdown & breakout "+x" value. x=number of candles or what ever your formula.

i see code with colours but for me in watch list column colour is not showing anything, did i miss any settings?
plot n = if n1 then count1 else if n2 then count2 else double.nan;
n.setdefaultcolor(color.black);
assignbackgroundcolor(if n1 and count1 then color.green else color.red);
#End of cod

For MRNA its -20 candles but its showing as 20, any fix for that?

 

[russ3571]

@Pensar all I see is the option to scan for breakouts in the scanner, not breakdowns?