SPX Trading Strategy for ThinkorSwim

[babouin77]

went long ES 3,934.00

I am out 3,943.50 a nice $475 on ES

 

[TraderCee32]

Trust me when i say this - be VERY careful with these exact number settings on a 5 min chart. It looks great today because things are very deliberate. Just backtest it with a 5 and 10 min chart pulled up beside each other to see what i mean.
Also, i backtested this 10min setup again this morning and since Feb 16th...one month ago...its has a 19-4 success rate. I never count anything after 3:00 and only start at 9:40 crossing of MACDBB zero line...NOT 9:30.
This is a scalping setup too....so those 19 wins might only be a $5 or so move for SPX....but profitable for an option scalp.

Glad you responded, I can see the difference. The current market has been tough for me scalping breakouts, I may not be as experienced as the majority of you so I've been testing some strategies to hopefully add some high probability plays.

Oh and if the BB Cross takes place like 30 min or so after the moving average cross, would you still enter or would the signal be null and void.

thanks again

 

[TraderCee32]

I am out 3,943.50 a nice $475 on ES

Nice! Are you trading with options or equity since it is /ES or did you trade with SPX symbol? I see you posted your entry at 1:21 but was your actually entry closer to 12:50 when the macdbb crossed?

 

[babouin77]

Nice! Are you trading with options or equity since it is /ES or did you trade with SPX symbol? I see you posted your entry at 1:21 but was your actually entry closer to 12:50 when the macdbb crossed?

I trade futures on Leeloo Funded account only so I am doing ES only.

 

[babouin77]

Nice! Are you trading with options or equity since it is /ES or did you trade with SPX symbol? I see you posted your entry at 1:21 but was your actually entry closer to 12:50 when the macdbb crossed?

my entry was the close of the 1150 central candle.

 

[Hypoluxa]

Glad you responded, I can see the difference. The current market has been tough for me scalping breakouts, I may not be as experienced as the majority of you so I've been testing some strategies to hopefully add some high probability plays.

Oh and if the BB Cross takes place like 30 min or so after the moving average cross, would you still enter or would the signal be null and void.

thanks again

This setup def has its share of high probability plays....so stick with this one and monitor it a few days to feel good about it before you trade live.
As far as waiting 30 mins to get in this one....for scalping, I'd suggest to never get in anything 30 mins after a signal presents itself. That's what signals are for....its go time.

 

[TraderCee32]

This setup def has its share of high probability plays....so stick with this one and monitor it a few days to feel good about it before you trade live.
As far as waiting 30 mins to get in this one....for scalping, I'd suggest to never get in anything 30 mins after a signal presents itself. That's what signals are for....its go time.

Let me rephrase, I don't mean waiting 30 min after the signal to enter. I can't attach the screenshot either, but for example, in your initial post you attached a screenshot of a play. the call play took place at 14:10, first the sma's crossed and the bb cross was almost simultaneous. But for my scenario, I am wondering what if the bb cross happens about 30 mins after the sma cross? Do you still take that play? - seems like a dumb question but it looks like you still get a profitable play but lower probability?

I also saw there are modifications that add an arrow (signal) to the script, I'll have to back track the through the thread and see if i can add it to your original study that I imported.

 

[iAskQs]

I am out 3,943.50 a nice $475 on ES

@babouin77 Nice trade. You seem to be doing more than scalping with this study, which is great. I've been testing it a lot, but not live trading yet and I'm still trying to figure out the optimal way of using it. A few questions:

1. Are you simply following the gameplan that @Hypoluxa shared, or are you doing anything different or extra?
2. How do you enter the trade? Limit order at end of candle, or beginning of next candle? do you use a stop order for entry (I'm thinking of using a stop order a few ticks away to avoid immediate pullbacks)? I'm asking because I've observed that it will often go in the opposite direction before it reverses course and goes in the expected direction.
3. How do you determine when to exit?
4. Where do you place your stop (whether automatic or mental)?
5. Do you mind sharing your winrate and P/L with the study?

 

[Hypoluxa]

Let me rephrase, I don't mean waiting 30 min after the signal to enter. I can't attach the screenshot either, but for example, in your initial post you attached a screenshot of a play. the call play took place at 14:10, first the sma's crossed and the bb cross was almost simultaneous. But for my scenario, I am wondering what if the bb cross happens about 30 mins after the sma cross? Do you still take that play? - seems like a dumb question but it looks like you still get a profitable play but lower probability?

I also saw there are modifications that add an arrow (signal) to the script, I'll have to back track the through the thread and see if i can add it to your original study that I imported.

Ahhhh, gotcha now. My advice on that is, you need to backtest this, go back to at least Feb 1st to see what you think about that scenario. A lot of people here want us to give them every answer to every scenario and that’s just not possible. I do backtesting after backtesting to double check things. I’m sure there are scenarios that will present themselves for what you’re looking for.

 

[TraderCee32]

Ahhhh, gotcha now. My advice on that is, you need to backtest this, go back to at least Feb 1st to see what you think about that scenario. A lot of people here want us to give them every answer to every scenario and that’s just not possible. I do backtesting after backtesting to double check things. I’m sure there are scenarios that will present themselves for what you’re looking for.

For sure, and yeah, i've been keeping the study on my monitor to view in realtime, as well as a few paper trades...

Well thank you for the feedback. Hopefully I can catch a signal this week and if i do i'll be sharing my P/L in the thread with entry and exits (whether i come out green or red lol). Thanks again for the info

 

[Robster021]

Correct. I have it as a strategy on ninja to do it automatically.

Hi, could you please share that NT8 setup with me? Thanks

EDIT: Just found the answer a couple of pages later (still catching up). Could you let me know where to find this auto trade strat for NT? Thanks

 

[DDW]

Hi, could you please share that NT8 setup with me? Thanks

Proprietary, you will have to pry it from his cold dead hands

 

[Robster021]

Proprietary, you will have to pry it from his cold dead hands

I would hate to call on people that know some people that know that guy who owns a concrete factory next to a river

Well then it's back to the manual way

 

[DDW]

I would hate to call on people that know some people that know that guy who owns a concrete factory next to a river

Well then it's back to the manual way

I wish @barbaros was a NinjaTrader user. A great strategy for auto trading for sure!

 

[barbaros]

I wish @barbaros was a NinjaTrader user. A great strategy for auto trading for sure!

I have used pretty much any programming language. C# used in NT is not a big deal. It can be done, just need to open a demo account, but time limited and platform cost is a little high, but can be done. Someone get me NT and I’ll put the time in to port and automate.

 

[babouin77]

went short 3,954.75 on ES

 

[babouin77]

went short 3,954.75 on ES

I got out 3,951.50 on ES... Profit: $162.5

 

[barbaros]

I got out 3,951.50 on ES... Profit: $162.5

Small potatoes for me too today.

 

[babouin77]

Small potatoes for me too today.

green is green

 

[irishgold]

I have used pretty much any programming language. C# used in NT is not a big deal. It can be done, just need to open a demo account, but time limited and platform cost is a little high, but can be done. Someone get me NT and I’ll put the time in to port and automate.

You can sign up at ninjatrader.com its free. I have coded part of this. If you post the conditions for long or short and how you want to manage the trade ie stops and profit targets i will work with you.