RAF (Ready Aim Fire) Indicator for ThinkorSwim

[ApeX Predator]

Just a bit of a neat freak and heavy chart user with multiple grids. So I decided to work on it to optimize it for better performance. Obviously that means cut a lot of plots and compound, Here is what I come-up with. I need to test this out further.

EDIT: I have replaced the code below, I have realized there is a clash with @cos251 version, Also since this is taking a different path, I call it forked out for 02-V04 by @cos251 .

 

[J007RMC]

@SuryaKiranC NICE JOB

 

[barbaros]

@SuryaKiranC Looks really really good. Comparing to the previous version, I noticed that when the chart has extension area, there is a stray arrow. Is this expected?

 

[ApeX Predator]

@barbaros I was playing with the input length, the previous version you had the length set to 5, I did see in some video, ST_RAF uses 28.

I personally feel 21 should be alright. Either ways you may have grabbed my version of code with 28 or 21, that cause I edited the code and changed it to 21 after originally posting it as 28.

But bottom line is, you may have seen the down arrow ahead of the previous version of the script, due to change in length. check your version of the code and play with length as 21 or 28 and see which one is better. I haven't used any version of this for real stumbled up on this thread when searching for something, and had sometime to kill today. so was trying to see if I could cleanup.

P.S, I am planning on using this on a grid with say about 25 Tickers, 5 of them being /ES, /YM, /NQ, /VX & SPY. rest of the 20, whatever my scanners catches for the day.

 

[ApeX Predator]

@SuryaKiranC NICE JOB

Thanks. I haven't really used any version of this, will try this for real trading and let you all know what it can do. I like to study code and try and understand before I put it to use. part of that was optimizing it as much as I can so my monster grid won't ****.

 

[barbaros]

Thanks @SuryaKiranC. I’ll update my script with the latest one.

I’m going to watch it on the side if I have time. Let me know your experience. I’m curious about timeframe for /es and what other indicators can complement this.

Unfortunately, the arrow still shows up after the update.

 

[ApeX Predator]

@barbaros You seeing that only on 1D frame? what's your time access gap on the right side?

-S

 

[barbaros]

@SuryaKiranC I have not tested other timeframes but yes, I have expansion area to the right. The previous version of the indicator stops calculating for future candles.

 

[cos251]

@SuryaKiranC just wanted to say thanks for the updates and keeping this thread alive. I've incorporated a couple of the changes you made into the original full version of the script, looks very good and get's a step closer to the final product. Only thing left is the thrust squares on the center line. I also wanted to note that the original script included the Fisher Transform, Fisher Transformed Stochastics 3x5 and Fisher Transformed Stochastics 5x8. The reason for these signals in addition to the FS17x5 were to be used as faster moving signals that served as confirmation of moves in either direction. Of course, using these comes down to preference in trading style as you've indicated with your grid.

@barbaros - Other indicators I've used to assist in my confirmation of a move, entry/exit are RSILg w/ Fractal Energy and a modified MTF version of the PowerX indicator found here.
Power-X
Other significant indicators in my opinion would be ATR movement and Relative Volume.

Nice work guys!

 

[barbaros]

@cos251 thank you for your response. I had both of those indicators on my chart, however, power-x is my interpretation. I’ll check out the variation you are referring to. What timeframe do you use?

 

[cos251]

@cos251 thank you for your response. I had both of those indicators on my chart, however, power-x is my interpretation. I’ll check out the variation you are referring to. What timeframe do you use?

I haven't posted the modified version of the Power-X MTF. You have to be careful with it though, it does repaint if use set the current chart to a higher timeframe. I'll clean it up and post the version I have soon. As for timeframes, I've been watching several tickers on a daily basis with it and find the 5m, 15, and 30m to be very good for my style. The 1hr, 2hr and 4hr are also good if you prefer a bit longer period. I stay away from it almost entirely in the 1m, there are too many signals/noise.

 

[cos251]

@cos251 thank you for your response. I had both of those indicators on my chart, however, power-x is my interpretation. I’ll check out the variation you are referring to. What timeframe do you use?

@barbaros - I just added the MTF Version of the Power-X; please see comment about repainting. And of course, feel free to modify as you wish.

https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/post-42613

Also, this was MRNA Today:

The other indicators I mentioned and a chart screenshot

%Chg = Percent change from open
RVOL = Relative Daily Volume
ATR = Average True Range (once it reaches 100 and keeps going up, can indicate institutional interest)

 

[barbaros]

@cos251 Very interesting. Thank you.

I wonder if there is a way to adjust the timeframe depending on opening range and volume.

 

[ApeX Predator]

@cos251 Thanks for your kind words. main reason for me to strip down, is to bump the performance of the indicator when multiple instance was called on multiple tickers in the grid. I do have a monster for a machine, but TOS ****s at using multiple cores.

Also I a have seen there is a clash In version numbering with your's, 02-V04 . Can you provide me the link to your 02-V04 or later what ever you have. I am thinking of branching out with the reference to your version.

Regards,
Surya Kiran C

 

[ApeX Predator]

@SuryaKiranC I have not tested other timeframes but yes, I have expansion area to the right. The previous version of the indicator stops calculating for future candles.

@barbaros Please give the new code in my original post (https://usethinkscript.com/threads/...-that-are-overbought-oversold.2592/post-42523) a try. I think I managed to get the additional arrow on the future bar.

Also tried to add alerts on the indicator. Need to test out the alerts, during trade hours or during the futures trading hours.

 

[barbaros]

@barbaros Please give the new code in my original post (https://usethinkscript.com/threads/...-that-are-overbought-oversold.2592/post-42523) a try. I think I managed to get the additional arrow on the future bar.

Also tried to add alerts on the indicator. Need to test out the alerts, during trade hours or during the futures trading hours.

Future arrow issue is fixed. How do you use the red/green zero line?

 

[ApeX Predator]

@barbaros I was trying to mimic RAF Pro Zero Line. That one is not completed, more work need to be done. If somebody has access to RAF or RAFPro and compare this against this, we will know how far we are both with the arrows and the ZeroLine.

-Surya

 

[cos251]

@SuryaKiranC you got it, any help is always appreciated. And, I totally agree, TOS can get bogged down with all the indicators - I hope now that they were bought by Charles Schwab that they can improve the platform.

I will post the latest full version code which will include the overall tweaks you added here soon and feel free to continue from there or the branch off as you indicated. Awesome work!

 

[cos251]

Future arrow issue is fixed. How do you use the red/green zero line?

The current full version that has the red/green zero line uses the 34TEMA for trend following. It was sorta intended as an interim until someone can figure out the actual source of the pro version and the thrust squares. I believe that @SuryaKiranC removed that portion from his current branch off version.

 

[cos251]

Quick update on the full version of the code. I took some of the aesthetic updates that @SuryaKiranC provided and incorporatd into the current code. Nice work! It get's us a step closer to the PRO version. Now we still just need the zero trend and thrust squares.