RAF (Ready Aim Fire) Indicator for ThinkorSwim

[madpuri]

Sorry just realized, if you want the indicator to look like the ST one, you'll need to disable the plotting of all indicators except the up and down purple arrows and the FS17x5. I didn't want to remove those as those are still very important to the overall indicator. Feel free to comment out the plots in the indicator if you prefer.

@cos251 you hit the nail on the head! I always had a feeling the ready aim was the soap signals but never knew how to code them. Let me get a link if I can for the soap signals for those interested. it may help you all understand how to use the ready aim fire labels effectively

 

[wtf_dude]

@cos251 Realized with the histogram that the RAF here lines up realllly closely with the Ironrod SMI you can find elsewhere on here. The formula in that has been my go-to momentum osc. for a while now

 

[DDW]

@wtf_dude Are you using the script "IronRod SMI Histogram" posted by @tomsk or have you changed it up a bit?

I pulled up @J007RMC modified setup and haven't made heads or tails out of it yet, but the day is young.

 

[wtf_dude]

@wtf_dude Are you using the script "IronRod SMI Histogram" posted by @tomsk or have you changed it up a bit?

I pulled up @J007RMC modified setup and haven't made heads or tails out of it yet, but the day is young.

That's it. I'd have to compare to see made changes other than just aesthetic for personal use though (I have my indicator saved separately) Hell if I Don't always expect to hang on to these things lol

 

[madpuri]

So here is the website that should have the videos. I think some need flashplayer for some strange reason.

http://www.chartsnchat.com/

You want to scroll down to the page where it mentions David Elliots passing. The links to some of the working videos are there with regards to soap.

@cos251 I dont know if this helps but this document just says the shaded areas of RAF is between the OB/OS levels.

https://intercom.help/simpler-trading/en/articles/4426649

 

[fpapedo]

@Investingtogive Could someone add the centerline portion of the Ironrod Histogram to the RAF. This might be the centerline dot system.

 

[cos251]

@madpuri, thanks for the links, there is a lot of good info there. I will try and sift through it.

 

[madpuri]

@cos251 anytime. Let me know how I else can help. I feel kinda bad just providing links.

To everyone else: So, the powerthrust is the only new thing added to the code. I think as some else stated, it is going to be something simple. As Investingtogive stated, the power thrust has something to do with the ADX...we will have to wait to see what he/she says.

 

[wtf_dude]

@Investingtogive Could someone add the centerline portion of the Ironrod Histogram to the RAF. This might be the centerline dot system.

May be on the right track for how the signal is DISPLAYED, but I can tell just by looking at that chart pasted above that the signals can't be it exactly because of where they're showing the color change

 

[fpapedo]

May be on the right track for how the signal is DISPLAYED, but I can tell just by looking at that chart pasted above that the signals can't be it exactly because of where they're showing the color change

I know its not perfect, But!!! Frequently John Carter just changes the numbers or minor setting changes and calls it his own. I combined them by placing them in the same lower window, and turning everything(ironrod histogram) off except the centerline. look at the tsla daily chart.
Not bad, not sure if we can tweak the numbers to get it right. JC doesn't trade by it , its only used as a confirmation of momentum.

 

[jolebo]

I think exactly the same here. Simpler traders often use EMAs 8, 21, 34, 55 and 89 and they have a price indicators related to them. I'm not able to code it actually but it really make sense to me that the colors is related to that.

 

[wtf_dude]

I think exactly the same here. Simpler traders often use EMAs 8, 21, 34, 55 and 89 and they have a price indicators related to them. I'm not able to code it actually but it really make sense to me that the colors is related to that.

The movement in the RAF we have so far is just an oscillator. This says that RAF is based on approaching support and resistance and we haven't had anything in the code cover that or volatility squeeze type changes. UNLESS my coffee and meds haven't kicked in for today lol

"The Ready Aim Fire Indicator or RAF for short, is a key identifier of buy and sell signals based on historical strength and resistance. It is designed to spot short-term trading opportunities as markets begin to turn.

These opportunities typically arise where prices have either contracted and coiled the market strength or areas where moves have been made recently and there is a tenancy for exhaustion to play out where prices dips back down in a "reversion to the mean" pattern."

 

[jolebo]

The movement in the RAF we have so far is just an oscillator. This says that RAF is based on approaching support and resistance and we haven't had anything in the code cover that or volatility squeeze type changes. UNLESS my coffee and meds haven't kicked in for today lol

"The Ready Aim Fire Indicator or RAF for short, is a key identifier of buy and sell signals based on historical strength and resistance. It is designed to spot short-term trading opportunities as markets begin to turn.

These opportunities typically arise where prices have either contracted and coiled the market strength or areas where moves have been made recently and there is a tenancy for exhaustion to play out where prices dips back down in a "reversion to the mean" pattern."

That's true for the first version, but the RAF Pro now include the Thrust dots, which we are trying to replicate the colors and triggers.

 

[wtf_dude]

That's true for the first version, but the RAF Pro now include the Thrust dots, which we are trying to replicate the colors and triggers.

Ok, so have the first parts, just need the color bands (the green and red) in the background and the thrust dots? Sorry, having trouble focusing lately

 

[jolebo]

Ok, so have the first parts, just need the color bands (the green and red) in the background and the thrust dots? Sorry, having trouble focusing lately

Yes exactly !

 

[wtf_dude]

Yes exactly !

Ok, well the green and red backgrounds don't add anything. All they do is make the signals a little more clear at a glance. So you get a dark green soap line and that's a Ready (to buy), that starts the dark green box which goes to the next soap line which is the bright green Aim, the fire is the magenta arrow. The magenta arrow wipes out the filled in color block and the whole thing starts all over. So yea, those boxes are just to color in what signal number you're on. I have no idea whatsoever on how to color a vertical fill though

so to simplify what's been found

• only the magenta line/arrows matter. All others can be turned off
• all signals in between the ob/os type lines are to be ignored
• magenta signals NOT occurring at support or resistance are to be ignored
• the 1.2 (or 120) used for the ob/os lines are ARBITRARY and just an approximation for what seems to be a good signal area
• so you want a ready line, SOAP "aim" line, magenta "fire" arrow if it's over or below the 2 ob/os lines which coincide with a support or resistance.

When you just look at those rules, this whole thing looks WAYYYYYYYYY less complicated and I'm not seeing why RAF is supposedly different, other than the thrust point.

RAF user guide

 

[madpuri]

@wtf_dude you are correct. It has been stated somewhere else. The RAF same as the FW_fisher transform that is in tos. However, RAF uses exponential moving averages instead of fisher transform on the stochastic.

Thrust dots are the newest edition which turned the RAF into RAF pro.

For reference, here is the RAF scan code available at simpler for free. When I downloaded the original Fw_transform that was from the first wave site, the moving averages used stuck out like a sore thumb.

Here is the scan code to give everyone an idea. Code looks really similar to the FW code...lol

 

[cos251]

Updated RAF with shaded areas

Hi guys, @wtf_dude is right about the importance or lack thereof on some of the components of the RAF indicator. The SOAPCount continues to be the importance piece here. The link above is the updated indicator with the shaded areas. I could not figure out how to add the little arrow looking portion to the shaded areas but we are close enough I think. Again, inspect it and let me know if we have an overall match or if we are still off.

As for the thrust squares, I was looking at ADX, RSI and Stochastics and so far am not finding a match here. Someone said earlier that this may be an EMA thing or something very simple and it is just passing my by, but I'll keep looking at it.

Lastly, as noted previously, you'll need to uncheck all the plots you don't want on the screen. Basically everything except for the FS17x5 plot, corresponding arrows and turn off the hide soap (set to no) and set it to always on screen.

 

[cos251]

Also, just my opinion here. But the more I inspect this indicator the less I like it. At least in the way the ST is promoting it. There is a lot of valuable signal data here from it's original incarnation (from FW Trade). I will be looking to use this but probably dissecting it some to match it up with my original Fish/CCI Combo signals as well as some other stuff I'm working on. Again, this is only my opinion.

 

[wtf_dude]

Oh I know some of it has been stated. I'm recapping so people don't have to re-read the whole thread to catch up.

Hell yea, Cos. Looks good man. Getting there.