SLIM Ribbon Indicator for ThinkorSwim

[Dublin_Capital]

Here is a backtest of the 30 minute chart (2018 - present)

And a 5 minute chart (December 2018 - present):

 

[Thomas]

I sure hope the backtest wasnt on my post of a set up, because no set up can be followed 100% because of changing market conditions, especially this volatile market. I wouldnt use this unless it's set up in a way understood by me, my set up, and monitored if market movement requires management, as it does. I personally use a simple system of trend, no complicated formulas, algorithms, earnings plays, etc......mainly working off important scans......

 

[Dublin_Capital]

I sure hope the backtest wasnt on my post of a set up, because no set up can be followed 100% because of changing market conditions, especially this volatile market. I wouldnt use this unless it's set up in a way understood by me, my set up, and monitored if market movement requires management, as it does. I personally use a simple system of trend, no complicated formulas, algorithms, earnings plays, etc......mainly working off important scans......

I backtested the code that was in the original post in this thread, because the poster asked for backtesters.

By definition, the backtest took every trade that the strategy signaled. My goal is to take myself out of the equation. I don't want to think about all those external factors you listed.

 

[Thomas]

I backtested the code that was in the original post in this thread, because the poster asked for backtesters.

By definition, the backtest took every trade that the strategy signaled. My goal is to take myself out of the equation. I don't want to think about all those external factors you listed.

Unfortunately, external factors, black swan events are the factors that need to be aware of. Here's a site that maybe some use.

 

[Billions]

I loaded this study and my chart looks nothing like the chart above. Please help

 

[Thomas]

I loaded this study and my chart looks nothing like the chart above. Please help

Which chart referenced too

 

[Billions]

The original post #1

 

[Thomas]

The original post #1

Main TOS chart page > setup>open shared item/paste https://tos.mx/veElNOu

 

[YungTraderFromMontana]

The drawdown in 2018 is easier to see on this chart, which uses Trade # as the X axis

What do you use to backtest?

 

[Billions]

Main TOS chart page > setup>open shared item/paste https://tos.mx/veElNOu

Thats saying page not found

 

[Thomas]

What do you use to backtest?

I don't know how to backtest, or what to use?? I just trade, as my account grows, I know I'm trading well,....take profits in strength, alway adding money to the account. I spent a year and a half working with Doug learning options, and follow my plan,.......example is video with explanation,
at this point I'm a position trader, and swing on daily........https://youtu.be/zSK9Vmw0MrY

 

[Dublin_Capital]

What do you use to backtest?

I use Excel / Power Query. I wrote a query that will transform the backtest report .cvs files from ThinkorSwim into a spreadsheet that can be used for charting / analysis.

It's not perfect, as it only works if trading a simple enter / exit strategy with a fixed lot size. It doesn't work with complicated entries, options, position increases, partial exits, etc. It is also monotonous to go get all of the reports from thinkorswim using OnDemand, but I haven't found a better way.

It's still a work in progress - I will share with the community at some point.

 

[Thomas]

I use Excel / Power Query. I wrote a query that will transform the backtest report .cvs files from ThinkorSwim into a spreadsheet that can be used for charting / analysis.

It's not perfect, as it only works if trading a simple enter / exit strategy with a fixed lot size. It doesn't work with complicated entries, options, position increases, partial exits, etc.

It's still a work in progress - I will share with the community at some point.

Sorry I could add any ammo to the subject, Tradinformed was something I thought looked great, but I couldn't figure out his ecel and then he went and made it a pay site, so I ran.

 

[Thomas]

Sorry I could add any ammo to the subject, Tradinformed was something I thought looked great, but I couldn't figure out his ecel and then he went and made it a pay site, so I ran.

I use Doug's lessons on value plays, out of favor, or MOMO.........

 

[Thomas]

https://postimg.cc/G4Y4K8bn

 

[Dublin_Capital]

I am trying to break down the code in this strategy and am confused. Can anyone help me understand how this line in the original code works?

def ST = if close < ST[1] then UP else DN;

it is defining ST, using ST[1]. "ST" is nowhere in the code prior to this line, so it seems like a circular reference. How (and what) are we referencing when using the ST[1] in the definition of ST?

The code seems to work, as it doesn't create an error in my thinkscript editor, but I have no idea HOW it works or what it is calculating. Can anyone help?

 

[Thomas]

I am trying to break down the code in this strategy and am confused. Can anyone help me understand how this line in the original code works?

def ST = if close < ST[1] then UP else DN;

it is defining ST, using ST[1]. "ST" is nowhere in the code prior to this line, so it seems like a circular reference. How (and what) are we referencing when using the ST[1] in the definition of ST?

The code seems to work, as it doesn't create an error in my thinkscript editor, but I have no idea HOW it works or what it is calculating. Can anyone help?

"ST," supertrend,....if the close less than supertrend yesterday, then up, else down

 

[Dublin_Capital]

Yes - I understand that is what it is referencing, I just don't understand where SuperTrend is defined in the code. I am hoping someone can explain to me how a recursive command like this works in thinkscript.

 

[horserider]

@DBSully It's magic.

Think about the only variable in the code. Maybe that will tell you what ST is defined as.

 

[Dublin_Capital]

@DBSully It's magic.

Think about the only variable in the code. Maybe that will tell you what ST is defined as.

That is my confusion. The only reference to ST and Supertrend in the entire code is here:

def ST = if close < ST[1] then UP else DN;

plot SuperTrend = ST;
SuperTrend.AssignValueColor(if close < ST then Color.RED else Color.GREEN);
SuperTrend.SetHiding(hideSuperTrendAtr);

def SuperTrendUP = if ST crosses below close[-1] then 1 else 0;
def isSuperTrendUP = SuperTrend > close;
def SuperTrendDN = if ST crosses above close[-1] then 1 else 0;
def isSuperTrendDN = SuperTrend < close;

I see this as "If close < ST from the last bar, then UP, otherwise DOWN"

My understanding is that this is a recursive statement, so you need to define what ST is. But the next line plots ST, and calls it "SuperTrend". I expected that ST or SuperTrend would be calculated somewhere in the code. I just can't seem to find that, and don't understand what is being calculated if SuperTrend and ST just keep referencing each other.

Apologies for taking this thread on a tangent. I will stop after this post, but if anyone can point me to the solution or clarify for me, I would appreciate it.