Indicator for Think or Swim based on Rob Smith's The STRAT

[Pelonsax]

I fixed that bit of code and also added a color coding component to help see the bartypes at a glance. Changes updated in the code and link at the top

 

[Pelonsax]

Version 2.1 is definitely a vast improvement but I'm still getting mislabelled ones. Working on a way to eliminate that and still be able to keep the color coded candles

 

[Pelonsax]

Here's what it looks like when I use @akoplan 's code. But as you can see there are still ones that didn't take out one side or the other. Thoughts?

 

[Pelonsax]

Okay. I think I've finally got it. This should be perfect. The definition for an inside bar MUST take EVERY possibility of a bar that doesn't take out either of the previous bar's extremes. Therefore:
def insidebar = (high < high[1] and low > low[1]) or (high == high[1] and low > low[1]) or (high < high[1] and low == low[1]) or (high == high[1] and low == low[1]);

 

[amtzsan1971]

Great Job Pelonsax you all are geniuses!!! Much respect

 

[Pelonsax]

I just adapted the logic to a MTF Candle overlay study that I found elsewhere (credit in the code) I'll be adding it together with a MTF Label that I made

 

[Pelonsax]

BTW, I figured out how to code for Shooting Stars and Hammers. I'll be adding that later

 

[Nomak]

This is amazing Pelonsax, because of this post, I went and look deeper into Strat patterns.

 

[amtzsan1971]

I been trading /ES tonight with the latest version and is working very nice even in this horrendous range! I don't know anything about coding but I do know about trading so we can make a good team here.

 

[Prison Mike]

@Pelonsax is this a different project than what you posted about a week or two ago?

Also, have seen the 1, 2, 3s on people’s charts. Glad I know what they mean now lol. Enjoying Rob Smith’s stuff. Thanks for sharing.

One thing I don’t totally understand about THE STRAT; entries. Are they the break of the inside candles? Then with time continuity you are watching for a 2 becoming a 3?

 

[Pelonsax]

@Pelonsax is this a different project than what you posted about a week or two ago?

Also, have seen the 1, 2, 3s on people’s charts. Glad I know what they mean now lol. Enjoying Rob Smith’s stuff. Thanks for sharing.

One thing I don’t totally understand about THE STRAT; entries. Are they the break of the inside candles? Then with time continuity you are watching for a 2 becoming a 3?

Bro, I'm not the best person to ask about the Strat to be honest. I have about enough knowledge and common sense to be able to write this indicator using only the basic definitions of the three (six actually) types of scenarios and the four basic reversals, but I still don't have the full ideology under my belt. The stuff I do know has already made a tremendous difference in my trading which is why I wanted to write these in order to give myself a more 'visual' perspective. I'm a visual learner. I do intend to dive all the way into it and squeeze as much benefit as I can out of it, so I think there will be more indicators and studies on the way, but I also don't want to make the rookie mistake I made before and put out a study that is wrong, so it may be a little while.

To answer your other question, I assume you're referring to my pivot study, and the answer is 'sort of'. That study is actually based on price, acc/dist, pivots and now it has a strat component for trend following. I'll probably publish that soon. I sort of put it on the back burner after I wrote a TOS strategy for it that gave less than optimal results, but when used in conjunction with other systems (maybe Swing Arm, maybe STRAT), it can be incredibly valuable and powerful. Right now, I'm starting to merge some of these systems to see if I can synthesize my own out of them all. I'm a firm believer that you have to forge your own way in trading. The only way you can make money using somebody else's system is if you are that person's emotional, psychological and intellectual clone. Best of luck brother! More to come!

 

[madeinnyc]

Wow! Looks like a Christmas Tree!

 

[Pelonsax]

Fixed glitch that was painting the 1D wrong on the candle overlay study

 

[silver8ack]

@Pelonsax This looks amazing. Much better than what I was working on. Question... I'm using this on daily charts, when I set the aggregation to Monthly or Weekly... what are the clouds showing me? I've been studying 'the Strat' for a little while but I can't quite figure out what those clouds are telling me lol

 

[Pelonsax]

@Pelonsax This looks amazing. Much better than what I was working on. Question... I'm using this on daily charts, when I set the aggregation to Monthly or Weekly... what are the clouds showing me? I've been studying 'the Strat' for a little while but I can't quite figure out what those clouds are telling me lol

Not sure what you're referring to. The only clouds on the chart are the bodies of the higher time frame candles. Can you screenshot and show me what you're talking about?

 

[Pelonsax]

BTW y'all, I changed the code again. It's a pretty minor change but it may have an effect later on when it comes to coding restarts or other more complex reversals. The changes have been incorporated into the top post. It's basically removing the "=" in the calculations that include open and close.

 

[pandybear]

BTW y'all, I changed the code again. It's a pretty minor change but it may have an effect later on when it comes to coding restarts or other more complex reversals. The changes have been incorporated into the top post. It's basically removing the "=" in the calculations that include open and close.

Thanks, the changes are updated in the shared link, right? Can you update the code block as well?

 

[silver8ack]

BTW y'all, I changed the code again. It's a pretty minor change but it may have an effect later on when it comes to coding restarts or other more complex reversals. The changes have been incorporated into the top post. It's basically removing the "=" in the calculations that include open and close.

Nevermind, I figured it out... the clouds are showing the 'time frame' open/close range.

 

[Pelonsax]

it is updated

 

[Pelonsax]

New Studies posted in the top post on this thread. These are a set of studies I designed in order to help visualize Full Time Frame Continuity