Moving Average Plots, Charts, Scans For ThinkOrSwim

[MBF]

Hi anyone and everyone,

I am getting a little confused and overwhelmed here and this has been an ongoing problem for me. I am trying to figure out which MAs are more eyeballed as entries and exits. Lately, I have been using the hourly 50 and 200 for day trading targets. I shouldn't say using, but more like experimenting. I'm having a hard time with this. I use premarket as signals with other stuff but honestly, I am trying very hard to be as simple as possible and learn without all the bells and whistles and then integrate them later on. I guess what I am trying to say is, what do you guys use when charting out lower time frames? There are so many choices, how do you know which ones are the most reliable? Is it different for each symbol? Do you look at all the MAs on the hourly and just use the ones that specific symbol seems to follow or is there a rigid set of MAs? I don't know, I think I'm overwhelmed. Any help would be greatly appreciated. I don't know if this is the right place to ask this as this might be just TOS script stuff but thought I'd give it a go.

 

[markos]

^^^ Quite interesting result compared to the white paper. @horserider could you post the math, please? Thanks!

 

[MBF]

here is example of friday intraday trade. I highlighted with green circles signals I used .The setup was on 30m - continuation down

https://imgur.com/a/sbD8312

My ultimate target was daily ATR (2)/ daily support. The 30m broke down and I entered on 5m at 1025 on inside candle.
breaking previous low on 1035 was confirmation trade is good. After 1100 washout ( wide range bar with low volume) I moved stop to the pivot it created. At 1115 I tightened stop on range expansion bar and rvol spike (tightening was on 1m chart which is not visible her). I got stopped out and thats it .

here is example of friday intraday trade. I highlighted with green circles signals I used .The setup was on 30m - continuation down

https://imgur.com/a/sbD8312

My ultimate target was daily ATR (2)/ daily support. The 30m broke down and I entered on 5m at 1025 on inside candle.
breaking previous low on 1035 was confirmation trade is good. After 1100 washout ( wide range bar with low volume) I moved stop to the pivot it created. At 1115 I tightened stop on range expansion bar and rvol spike (tightening was on 1m chart which is not visible her). I got stopped out and thats it .

Slow down.

There's no commissions. Trade just 2 shares. Sell one share when you get a feeling and let the second share run, sell on your next cipherin'. Analyze what you've done. Make adjustments. Rinse, repeat. If you are trading options without understanding Expected Move, you may be flying blind. Don't buy small stocks, the Bid-Ask will cut you up.
Now, please take 10 minutes and watch this:

Brian Wrote the book Technical Analysis Using Multiple Timeframes.

His book is on its way. He is nice and clean. I like that. Writing all my notes now. Too choppy for me today.

 

[MBF]

Not exactly. first the setup on daily is bearish with price action under point of control and void support till 80 (thats why this ticker got into radar first place) . The first two 30m bars on the day are bearish and 2nd bar is bearish with above average volume (thats what I circled on 30m lower indicator) - that was price action intraday at ten - when I look for setups after initial bell shakeouts.
The final check - where when I was pulling trigger: on 5m there are clear rejection under vwap and 1025 is breach of 5m range. - perfect entry with nearby stop at 82.35. Everything is in confluence - daily, 30m and 5m. Good risk reward. I dont use whole numbers except for like additional convenience (and only for exits)

It also didnt hit my ultimate price target but the management I used allowed good exit.

@skynetgen You use the 1 minute to tighten stops and five minute for entries and exits? Or the one for all and the five for confirm? I am going to study this. Downloaded your chart. I like Brian's broad market analysis and will also be studying this. I really like this because it shows steps. I need steps. I appreciate this so much and everyone else's advice which I am also writing down.

 

[markos]

His book is on its way. He is nice and clean. I like that. Writing all my notes now. Too choppy for me today.

Looking forward to your notes. In the Grand Scheme of things, this will hopefully turn into a lesson for those that are working thru the beginning of their journey. Excellent choice and observation that things are too choppy for you. You have just learned a part of How to Pick your battlegrounds.
Brian's you tube channel is full of weekend wrapups and 1 hour classes. Best wishes on to your endeavor. Enjoy the ride!

 

[markos]

btw, I chatted with Mr Shannon 6 month's ago and asked him if he worked w TOS charts at all. He said no, he has a deal with Worden Brothers and their charting service. (Too expensive)

 

[MBF]

btw, I chatted with Mr Shannon 6 month's ago and asked him if he worked w TOS charts at all. He said no, he has a deal with Worden Brothers and their charting service. (Too expensive)

His anchored VWAP, jealous.

Looking forward to your notes. In the Grand Scheme of things, this will hopefully turn into a lesson for those that are working thru the beginning of their journey. Excellent choice and observation that things are too choppy for you. You have just learned a part of How to Pick your battlegrounds.
Brian's you tube channel is full of weekend wrapups and 1 hour classes. Best wishes on to your endeavor. Enjoy the ride!

Going to check him out. His anchored VWAP makes me jealous!

 

[MBF]

Since EHMA Hull is noted as tops in the paper ^^^ Made a chart for comparison.

Cyan/Pink line is ToS Hull [WMA]
White line is ExpAvg of ToS Hull
Green/Red line is EHMA [EXPMA]
Input 9

For stocks TRIX showed the best results as stocks tend to be more volatile and have frequent trend reversals where correctionless MA is more accurate. Triple exponential moving average (TRIX) is similar to DEMA but uses exponential moving average three times: Why are they calling this TRIX isnt this TEMA?

 

[markos]

For stocks TRIX showed the best results as stocks tend to be more volatile and have frequent trend reversals where correctionless MA is more accurate. Triple exponential moving average (TRIX) is similar to DEMA but uses exponential moving average three times: Why are they calling this TRIX isnt this TEMA?

Never Mind That. Stay on point. That discussion, while worthwhile to me, is a rabbit hole for you. (I know because I'm a fearin' our personality's are alike) Ask about that next week!
Are you done with that list yet??

 

[MBF]

Never Mind That. Stay on point. That discussion, while worthwhile to me, is a rabbit hole for you. (I know because I'm a fearin' our personality's are alike) Ask about that next week!
Are you done with that list yet??

List? Of notes? I have my notebook with all the notes on here, plus all of the notes from both Brian's video, which I just got done setting up all my TFs to match his with his 5 Day MAs on the lowers and his higher timeframe set ups. The VWAP in TOS isnt "move-able" so I swiped one from here, still not move-able but will do. The notes on Skynetgens set up.
I am about to watch a Brian youtube video and then set up a Skynetgen chart(s). If I set it up myself I learn and remember better. I want to see what you all see.
I can take photo of my pages of notes! LOL

 

[MBF]

Never Mind That. Stay on point. That discussion, while worthwhile to me, is a rabbit hole for you. (I know because I'm a fearin' our personality's are alike) Ask about that next week!
Are you done with that list yet??

for @markos

 

[BenTen]

@MBF Wow, your dedication is admirable.

 

[MBF]

@skynetgen "you pick 4-6stocks on the weekend for intraweek set ups."
The $TSN trade you show on the chart, was that a weekly pick or do you also pick stocks the night before
depending on set up? You've explained your parameters for choosing this stock; because, it was under POC and next support was $80. What I mean is, do you pick your stocks at the weekend for the week ahead and stick to those or do you also choose stocks nightly? Are your intraweekly and intraday stocks one and the same? I know you do your scalpers at the open and then choose your day trades around 10 give or take.

 

[MBF]

@skynetgen "you pick 4-6stocks on the weekend for intraweek set ups."
The $TSN trade you show on the chart, was that a weekly pick or do you also pick stocks the night before
depending on set up? You've explained your parameters for choosing this stock; because, it was under POC and next support was $80. What I mean is, do you pick your stocks at the weekend for the week ahead and stick to those or do you also choose stocks nightly? Are your intraweekly and intraday stocks one and the same? I know you do your scalpers at the open and then choose your day trades around 10 give or take.

One more thing, last night I noticed ROKU. Was above POC on the TPOProfile there was a gap fill directly to the 20 SMA which was a long play to $117. This morning there was a gap up premarket and the 30 minute opening bar was scary (to me) but volume was amazing. The five minute opening bar was a rejection or a settling of monies overnight. I bought it at the 110.87 support on the five and got out at the 11:55 rejection hammer at around $117.11, rounding top and slowing volume. I shorted JNJ but just on news.
I would not have looked at the ROKU play that way until I went through my notes from you a couple of times. Might have been beginners luck but works for me!

 

[J007RMC]

Well I evolved (or devolved?) to ignore moving averages as entry/exits. I only use them to trail the trend I already entered (based on other factors). And Ideally i take profits and get out even before MAs turn (they are lagging) - based on other things. And other price based indicators (MACD/RSI) etc i only use as confirmation for finer entry - not use them as basis for setups.
Imho price action by itself is a lie - it doesnt reflect true value or true direction of money flow most of the time. More like a broken clock - it is occasionally right but most often its not
Market structure is non-linear and fractal nature - no moving average can describe them. As all of price+ma based indicators (yeah even fancy ones like Ehlers) fundamentally model price action as some sort of cyclical process with well defined function - which its not.

To give a good place to start your thinking I would point to this :
https://readtheticker.smugmug.com/B...tPhasesCyclesv2.png?lastmodified=201909300000
(ignore the gann angles - just focus on what you see as a structure).

Another thing I want to point is: its is of extreme importance to understand Timeframes you are trading on (and its paramount to use at least three: 1)large TF 2) setup TF 3) entry/exit timeframe ). How its structured and the confluence of factors at pivot points on it. Intraday and intraweek trading imho required understanding of gaps, intraday market timing, intraweek inflections, options expirations and more

Something Ive adopted lately into my trading regimen is RSI length 2 and the OBV. I watch the 30 min, hourly, and daily rsi signals and volume to enter and exit... so far its working for me.

 

[markos]

@MBF Wow, your dedication is admirable.

@MBF Very nice pictures young man! Not only are you dedicated but slightly obsessed, in a good way. It's a pleasure to work with someone like you.

 

[markos]

Something Ive adopted lately into my trading regimen is RSI length 2 and the OBV. I watch the 30 min, hourly, and daily rsi signals and volume to enter and exit... so far its working for me.

@J007RMC Glad to hear of somebody else that has a trading plan as well. Very nice.

 

[MBF]

@MBF Very nice pictures young man! Not only are you dedicated but slightly obsessed, in a good way. It's a pleasure to work with someone like you.

@markos How to say? Um ... I wear a 38C and ... I owned a pink Huffy when I was a kid.

 

[diazlaz]

@MBF Very nice pictures young man! Not only are you dedicated but slightly obsessed, in a good way. It's a pleasure to work with someone like you.

i think we can all learn something from @MBF

 

[markos]

@diazlaz I would definitely agree. Being diligent with taking notes and really wanting to learn AND being teachable is quite admirable.

@MBF don't laugh, wiseguy, these are real compliments, even if you did have a pink Huffy as a kid. ...

 

[MBF]

@markos ya goof!