Rob Smith's The STRAT Indicator for ThinkorSwim

tradecombine

New member
have you tried a strat that sets up both long and short position triggers on both sides of these trades? curious if that has worked for you / anyone with The Strat.
Me personally? No. It doesn't for me, since my method is to look for entries on a lower time frame that are in agreement with a higher time frame trend. So if I flipped my entry, I'd actually be trading against my own system (and I haven't tested this, so I don't want to put any money into that idea.)

Another thing: my entries are usually towards a reversal target, whereas if I traded opposite of my reversal target, I'd be trading a continuation, which would have only an "estimated" target, and there wouldn't be a stop to hunt for (some people call theStrat stop-hunting because it goes after obvious pivots).

That's not to say it wont' work. I have seen postings on Twitter about automated trading of theStrat. You could probably do it in ThinkOrSwim to a lesser extent by pasting in a conditional order template, since the bulk of #theStrat is comparisons of candle highs and lows.
 

jefe

New member
Hello fellow #TheStrat-ers, I wanted to say thank you for all the hard work in this forum, especially @Pelonsax. I've used several of the scripts posted here. I wanted to add one to the mix for creating price lines for insidebars. Maybe you'll find it useful. It's my first attempt at coding anything, so...it may not be elegant, but it does the trick. It plots high/low lines after an inside candle to show where potential entry points are as well as the high/low price lines for the candle before the insidebar for potential exit points. You have to change the aggregation depending on which timeframe you're on. Hope it helps.
Ruby:
#By Jefe 10/06/2021 for #TheStrat-ers

# Draws high/low price lines for insidebars and the high/low price for the candle before the insidebar to identify possible entry/exits on insidebar patterns.
#------------------------------------
def insidebar = High < High[1] and Low > Low[1];
def price1 = ((high) and isnan(insidebar[-1]));
def price2 = ((high) and isnan(insidebar[-1]));


input aggregationPeriod = AggregationPeriod.DAY;
input length = 1;
input displace = -1;
input displace2 = -2;
input displace3 = -1;

plot longin = if price1 and insidebar[1] then (high(period = aggregationperiod)[-displace]) else double.nan;
Longin.SetDefaultColor(GetColor(6));
longin.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
addchartbubble(longin, longin, longin, color.Green, No);

plot shortin = if price1 and insidebar[1] then (low(period = aggregationperiod)[-displace]) else double.nan;
shortin.SetDefaultColor(GetColor(6));
shortin.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
addchartbubble(shortin, shortin, shortin, color.Green, yes);

plot longout = if price2 and insidebar[1] then (high(period = aggregationperiod)[-displace2]) else double.nan;
Longout.SetDefaultColor(GetColor(5));
longout.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
addchartbubble(longout, longout, longout, color.red, Yes);

plot Shortout = if price2 and insidebar[1] then (low(period = aggregationperiod)[-displace2]) else double.nan;
Shortout.SetDefaultColor(GetColor(5));
Shortout.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
addchartbubble(shortout, shortout, shortout, color.red, no);

plot FiftyRetrace = if price2 and insidebar[1] then (hl2(period = aggregationperiod)[-displace3]) else double.nan;
FiftyRetrace.SetDefaultColor(GetColor(7));
FiftyRetrace.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
 
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A__Ron

New member
Thanks for making and posting these. I just started learning The Strat and love it so far. I wanted to ask because my TFC labels are not changing colors or showing actionable signals after I watched the video. Im not sure what if anything I’m not doing right.
 

MJK3536

New member
VIP
Hello fellow #TheStrat-ers, I wanted to say thank you for all the hard work in this forum, especially @Pelonsax. I've used several of the scripts posted here. I wanted to add one to the mix for creating price lines for insidebars. Maybe you'll find it useful. It's my first attempt at coding anything, so...it may not be elegant, but it does the trick. It plots high/low lines after an inside candle to show where potential entry points are as well as the high/low price lines for the candle before the insidebar for potential exit points. You have to change the aggregation depending on which timeframe you're on. Hope it helps.
Ruby:
#By Jefe 10/06/2021 for #TheStrat-ers

# Draws high/low price lines for insidebars and the high/low price for the candle before the insidebar to identify possible entry/exits on insidebar patterns.
#------------------------------------
def insidebar = High < High[1] and Low > Low[1];
def price1 = ((high) and isnan(insidebar[-1]));
def price2 = ((high) and isnan(insidebar[-1]));


input aggregationPeriod = AggregationPeriod.DAY;
input length = 1;
input displace = -1;
input displace2 = -2;
input displace3 = -1;

plot longin = if price1 and insidebar[1] then (high(period = aggregationperiod)[-displace]) else double.nan;
Longin.SetDefaultColor(GetColor(6));
longin.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
addchartbubble(longin, longin, longin, color.Green, No);

plot shortin = if price1 and insidebar[1] then (low(period = aggregationperiod)[-displace]) else double.nan;
shortin.SetDefaultColor(GetColor(6));
shortin.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
addchartbubble(shortin, shortin, shortin, color.Green, yes);

plot longout = if price2 and insidebar[1] then (high(period = aggregationperiod)[-displace2]) else double.nan;
Longout.SetDefaultColor(GetColor(5));
longout.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
addchartbubble(longout, longout, longout, color.red, Yes);

plot Shortout = if price2 and insidebar[1] then (low(period = aggregationperiod)[-displace2]) else double.nan;
Shortout.SetDefaultColor(GetColor(5));
Shortout.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
addchartbubble(shortout, shortout, shortout, color.red, no);

plot FiftyRetrace = if price2 and insidebar[1] then (hl2(period = aggregationperiod)[-displace3]) else double.nan;
FiftyRetrace.SetDefaultColor(GetColor(7));
FiftyRetrace.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
Hey - just wanted you to know that I just downloaded this and its great- many thanks!
 

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