Moving Average Buy / Sell Chart Setup for ThinkOrSwim

merc2226

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here is my set up I have been using.

I use it for day trading and don't hold any positions overnight so that is why open and close at the start and end of the trading session.

if candle closes above all 4 ema's, the 7,13, 48 and 200 then a position would be opened, if the candle is above all 4 ema's a call would be purchased, if it closes below all 4 ema's a put would be purchased.
If candle is between all 4 then no trade is open.
The trade is then closed as soon as the candle crosses the 13 ema.
see picture, my candles are gray when the candles are not above or below all of the ema's.
the arrows represent the 7 and 13 ema cross, that is my indication to open or close my position.
the arrow could trigger when the candle is still in between the ema's if that is the case it is opened as soon as it closes above or below all 4, then closed when the 7 and 13 ema cross.
if the trading session opens and all the criteria's are met that would open a new position at the start of the day, lets say I would open the position at 9:32.

http://tos.mx/CDXB2ux
1x3FWMN.png
 
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That is really slick! What kind of results have you gotten from it? Also, can you describe in a bit of detail the interpretation of the Elvis Yellow vertical colors? I've tried a few different time frames with just that indicator in use and the color red hasn't shown up.
 
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That is really slick! What kind of results have you gotten from it? Also, can you describe in a bit of detail the interpretation of the Elvis Yellow vertical colors? I've tried a few different time frames with just that indicator in use and the color red hasn't shown up.

I disabled the red and green background for long and short because I found I couldn’t really see the chart with the colors behind it. So the yellow keeps me out of trades and I enter based on long above 200 and short below. It works well with spy but takes a lot of patience. Maybe 1-3 trades a day. It’s never getting the full love so I did find with options the best play is sell half +20%, then set stop to even and move up as you go. It guarantees a 10% win when you get to 20%.
Takes a lot of discipline but works if fomo doesn’t get you. Some big trades are missed but waiting for the entry, good entries off the ema and discipline will get you green.
 
("if candle closes above all 4 ema's, the 7,13, 48 and 200 then a position would be opened, if the candle is above all 4 ema's a call would be purchased, if it closes below all 4 ema's a put would be purchased.")

@merc2226 : Did you also set auto Buy/Sell rules to work with this chart? Curious as to how much monitoring is needed: I'm going to add alerts
 
I disabled the red and green background for long and short because I found I couldn’t really see the chart with the colors behind it. So the yellow keeps me out of trades and I enter based on long above 200 and short below. It works well with spy but takes a lot of patience. Maybe 1-3 trades a day. It’s never getting the full love so I did find with options the best play is sell half +20%, then set stop to even and move up as you go. It guarantees a 10% win when you get to 20%.
Takes a lot of discipline but works if fomo doesn’t get you. Some big trades are missed but waiting for the entry, good entries off the ema and discipline will get you green.


from your initial post "the arrows represent the 7 and 13 ema cross," I see arrow on the lower chart, is that what you're referring to? On the upper chart I see buy & sell bubbles. TIA
 
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a lot of monitoring is needed. you cant buy till it pulls back and rejects the era's and continues in the direction.

no on the auto buy and sell, I dont think you can do that on TOS.
 
Hello,
Thank you for sharing this, in the post you have mentioned 7,13,48 and 200 EMA's but when I put your TOS link it is showing me 9,50,200 EMA. Did you change your set up?
And, can you please explain how you use the bottom indicator?
 
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