Renko Bar Based Trading System for ThinkorSwim

@sunstar Here you go... I keep my settings the same for most every symbol unless there is an absolute need for adjustment... As you can see, I use Fibonacci numbers...

ErgodicOsc(21, 13, 8, Exponential)

Didi_Index(8, 21, 34)
 

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just started trading and discovered renko bars. Use the today and ATR settings.n I need to find a good indicaator to improve trade accuracy.
 
@nowhmar Welcome to the usethinkscript forums... Give this topic a good read... Plenty of advice about indicators and Renko Bars...
 
@sunstar Here you go... I keep my settings the same for most every symbol unless there is an absolute need for adjustment... As you can see, I use Fibonacci numbers...

ErgodicOsc(21, 13, 8, Exponential)

Didi_Index(8, 21, 34)
@rad14733 on your ErgodicOsc the scanner is not working for Shortweak, I input scan shortweak is true within 3 bars... no results any help?
 
@rad14733 on your ErgodicOsc the scanner is not working for Shortweak, I input scan shortweak is true within 3 bars... no results any help?

I've never tried scanning using ErgodicOsc... I'll try to look into this if I get time later... I may have at least part of it incorporated into a multi-indicators scan that I wrote months ago...
 
@The Bataylor The crazy part is how basically simple the indicator actually is... Aside from some code for appearance, it's essentially the following two lines of code that does the actual work, and two more lines for settings... I've also added an average line of BMP in my modified version, just as I do for all of my histogram indicators...

Ruby:
def rawBMP = if high != low then (close - open) / (high - low) else 1;
plot BMP = MovingAverage(averageType, rawBMP, length);
 
Hi @rad14733 did you say you no longer recommend using the bubbles as entries as they get re-painted? New user here and joined because I saw your post, back-tested and it seemed awesome. I then tried live-trading and did indeed see green price entry bubbles being re-painted or instead disappearing. Are you saying that instead to use entries based off of the bottom 3 indicators instead of the bubbles?

Also I tried this strategy across several instruments: SPX, AMZN, AMAT, NVDA, AMD, JMIA, QS, MARA, AAPL, TSLA, GOOGL, CLF, KOPN, CAT, FB and the one thing I noticed is its difficult to get a good 'entry' by way of getting a good fill (due to the bid/ask spread). A lot of these names moved quickly due to gap-up past few days, so do you simply wait for a good fill on your limit order below the ask, but above the bid? Do you join the ask? And if it is the former, are you simply okay with not getting filled? Trying to gauge mentality from someone who developed this.
 
@zoobydoo While the images of the system shows the Trend_Reversal_Indicator_with_Signals I only used it as a reference at times and never based trades on it due to the repainting issue... I no longer use that indicator at all... The indicators are enough, along with HullMovingAvg()...

For entry I use a couple of methods... I generally try Bid + Ask / 2 but if there is a lot of momentum I'll Buy the Ask instead...

I am currently developing a new trading system with Custom Watchlist Columns, Custom Scans, and a new Chart and Indicator setup that I am way overdue to get posted in a new forum topic... However, if I was to revisit this system I would only make minor changes... One would be the inclusion of my Bid + Ask / 2 chart label... As I stated, I'd nix the TRIwS's and add a few new indicators into the mix... That being said, I feel that this system is still solid as-is...

If you have additional questions don't hesitate to ask...
 
@rad14733 thank you very much for your answer, I appreciate the clarity. The hullmovingavg is quite clear indeed! Excited to see what other projects your working on and helping the community - amazing.
 
@rad14733 this is great trading strategies, cut a lot of noise during trading, my questions is I have 2 chart side by side, the chart on the right I set it up with 180 days/ ATR range, the chart on the right I calculate and enter manually half of the ATR value... do you know how to make the chart on Thinkorswim do that math and show it automatic. I try all the setting but there is now such that setting, maybe we have to code it by ourself but I really don't know how to code. Thanks for your time and support
tempsnip.jpg
 
@hientp Unfortunately, we can't create custom Ticks or Timeframes on-the-fly... Ticks can be entered in the normal manual way but we are stuck with only the timeframes provided by TOS... However, they did just add two more timeframes in this past weekends update...
 
@hientp Unfortunately, we can't create custom Ticks or Timeframes on-the-fly... Ticks can be entered in the normal manual way but we are stuck with only the timeframes provided by TOS... However, they did just add two more timeframes in this past weekends update...

rad14733

I'm running the 512t, 1kt and getting a great lower wave picture using a slightly modified macd

https://tos.mx/6QwDBk4

 
@rad14733 , maybe you have already answered this question multiple times, but, is there a way that we can scan when Waddah is green greater than the white line, and RBP is green and BOP green? and viseversa?
 
@rad14733, sorry if you already replied to this question, but is it possible to set a scanner with the conditions of buy: Waddah green and greater than white line and RBP green and BOP green and vise-versa for sell? thanks
 
@quijanoj44 Not sure if it has been asked before, let alone twice in a row, but as I recall I did create code for that... However, I will have to check to see if I still have it as I just went through and cleared out some code I hadn't used in a while and wasn't sure of the current state of development... I'll try to check tomorrow if I'm not too busy...
 
@rad14733 , sorry, again, I don't know if you had the chance to check if it was possible to get the scan. It can help us a lot. Thanks

I just checked and unfortunately it was one of the many scans that I deleted during cleanup, and still have a lot more to weed out... As I recall, it wasn't totally perfected anyway... Back when I was trading this system exclusively I was only trading about six symbols and had trading panels open for each one so scanning wasn't necessarily a necessity...
 
@rad14733, ok, thanks for your update. Just curious, what is your current strategy or system you're using nowadays? Is there anything from this forum where you suggest I look in? Maybe I need to get updated. Thank you
 

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