Quick thought on Advanced Market Moves 2.0

[BenTen]

@bizsbuzz AMM is a counter-trend reversal indicator. It works best in sideways/ranging environments.

 

[fungus12]

@BenTen Hello I'm considering getting VIP. Could you please post THCB on the 1h chart from 6/4/21 - 6/14/21 with AMM2.0 and Take Profit? Could you also do the same for SNAP 6/9/21 - 6/14/21 and 6/17/21 - 6/23/21? Just some zones I've been testing, would like to see how those indicators perform. Thank you in advance!

 

[War Eagle]

@john3 Sure, here you go.

Hi Ben,
I'm interested in joining the VIP but I have some concerns on the Advance Market. For instance, the chart above misses some profitable up trends and down trends. Is there anything I'm over looking ? I'm old as dirt so my brain cells are flying all over the floor...LOL

 

[MerryDay]

Hi Ben,
I'm interested in joining the VIP but I have some concerns on the Advance Market. For instance, the chart above misses some profitable up trends and down trends. Is there anything I'm over looking ? I'm old as dirt so my brain cells are flying all over the floor...LOL

The AMM2 is not written to pick up 'every' trend. The AMM2 is a counter-trend reversal indicator. It works best in sideways/ranging environments.

The only type of indicator that could possibly pick up 'every' up and down trend would be a repainting zigzag, wave, reversal, COG, Hurst, etc... indicator. Those scripts signal on every bar going down. Then erases the signal and repaints it on the next down bar. It finally stops repainting when the trends are long done, leaving behind repainted perfect signals for every up and down trend.

Otherwise, Gappers, Dippers, Bouncers, types of scripts etc... signal on that type of trend only.

Indicators such as AMM2 should be just one tool in your tool box and not used in isolation. Ideally you want an S&R, a trend/momentum and the some type of volume indicator across multiple timeframes before entering a trade.
Read more here:
https://usethinkscript.com/threads/basics-for-developing-a-good-strategy.8058/
https://usethinkscript.com/threads/...nt-to-successful-trading-in-thinkorswim.6114/

 

[Ethan Strong]

Works well with /CL. I look for good scalp setup's in Crude futures. My regular setup is: Bollinger Band, Volume profile, 9/21 ema, and VWAP's. Today I joined and added this indicator after my trade and was rather surprised at its accuracy. It should help out so no complaints here. Thank you! ...I tried to load a couple of screen shots to show its accuracy but I dont know how that image url thing works...

 

[Mr_Wheeler]

So it it a pivot or support & resistance study?

 

[MerryDay]

So it it a pivot or support & resistance study?

Members have used it that way, yes.

 

[Max71]

Hello @BenTen

Does this indicator work with TOS orders? i.e. Can I use this indicator to trigger Buy/Sell order?

Thanks.

 

[MerryDay]

Hello @BenTen

Does this indicator work with TOS orders? i.e. Can I use this indicator to trigger Buy/Sell order?

Thanks.

The ToS platform does not support any 'autotrading' functionality. I would think that the AMM2 is too complex for use in a conditional order

 

[Max71]

The ToS platform does not support any 'autotrading' functionality. I would think that the AMM2 is too complex for use in a conditional order

Thanks @MerryDay !

Yes that's correct. I was thinking to use their Advance Order where you can have such indicator based triggering of the order.
Is there any other trading platform that allows autotrading functionality and open to retail investors like me?