SPX Trading Strategy for ThinkorSwim

[rfb]

Its horrible. The MM's have been screwing with the premiums all day too. Unstable bid/ask spreads

I'm sure the range bound SPX pricing and quadruple expiration has a lot to do with it for today. Regardless, it is pathetic.

 

[babouin77]

when did you get in? The signal for ES was at 11:50....35 mins ago now

sorry i was away from my desk... i went in

3/19/21 11:20 AM

 

[babouin77]

sorry i was away from my desk... i went in

3/19/21 11:20 AM

and I got out at 3909 at 3/19/21 12:10 PM for $100 loss (es)

 

[barbaros]

and I got out at 3909 at 3/19/21 12:10 PM for $100 loss (es)

It seems like MACD runners are not good for sideways market.

 

[rfb]

It seems like MACD runners are not good for sideways market.

That would definitely be correct. That’s what I was seeing on today’s SPX long signal after the crossover.

 

[barbaros]

That would definitely be correct. That’s what I was seeing on today’s SPX long signal after the crossover.

I wonder we can combine it with another indicator to filter out these days.

 

[iAskQs]

I wonder we can combine it with another indicator to filter out these days.

IMO, just sit on hands when when market is choppy/sideways. In other words, use price action as your filter. Admittedly, I feel like I have too many indicators on right now. I find each one useful but they distract from price action analysis. So I made a rule of starting all trade analysis with price action and find that is a good filter.

But if you want another indicator, I think supertrend does a good job of filtering out some bad signals. Only take signals in the direction of the current trend. That is actually one of my rules for this setup. I have not backtested it yet so I didn't want to necessarily share it yet. I could be wrong, but I'm experimenting. And perhaps that is a natural combination study. Simply use supertrend or cci version supertrend and add arrow signals based on the setup rules only when in agreement with supertrend.

 

[VictusJogi]

thanks VictusJogi for your advice. very much appreciated. I had been doing lots of that lately. lol. At one point, i tot i had a good grasp n the next, i got crashed. Will continue to work on my eye power n the study. what time frame do u use besides the 10mins?

I use 2 min, 10 mins and daily

 

[barbaros]

I use 2 min, 10 mins and daily

I don't use daily for this strategy but 10m and 2m too.

 

[VictusJogi]

I don't use daily for this strategy but 10m and 2m too.

Yeah 10 and 2 min are awesome..

 

[rfb]

I don't use daily for this strategy but 10m and 2m too.

Been using 3 min, 5 min and 10 min charts. Interesting to note, I've been seeing some intraday divergences ( 3 and 5 min) with several indicators (RSI and Stochastics) when price gets extended from the moving averages, whether up or down. I'll try the 2 min as well next week.

 

[antojoseph]

I wonder we can combine it with another indicator to filter out these days.

Well, the SPX pivot point today was 3932. When the BBMACD cross above the Zero line, the price was 3922. So we hardly had 10 points to play there on long side. I think we should add the daily standard support resistance (I use Dynamic Hiding Pivots) indicator. The other filter was 'True Momentum Indicator' which was at the overbought territory (>80%) at the time of MACD cross.

 

[barbaros]

Well, the SPX pivot point today was 3932. When the BBMACD cross above the Zero line, the price was 3922. So we hardly had 10 points to play there on long side. I think we should add the daily standard support resistance (I use Dynamic Hiding Pivots) indicator. The other filter was 'True Momentum Indicator' which was at the overbought territory (>80%) at the time of MACD cross.

Is Dynamic Hiding Pivots available?

have you looked to see how TMI in a backtest?

 

[antojoseph]

Is Dynamic Hiding Pivots available?

have you looked to see how TMI in a backtest?

http://tos.mx/vDtEEub
That share link should have both Pivot and True momentum indicator. Not able to post pictures here.

 

[rad14733]

@antojoseph Everyone can post images here, you just have to do it the correct way... Very few forums allow direct image posting these days, for a multitude of reasons - mainly storage space requiring pricier hosting packages... See How to insert image in a post thread? for information on posting images... I have used imgur.com almost daily for posting here using the BBCode option...

Also, it is very helpful to post the code for indicators rather than simply posting a shared link... The TOS shared link system breaks with almost every update and then we have to answer a bunch of complaints about them not working... Using Copy & Paste of Thinkscript code works the first time, virtually every time... Posting code also allows members to review code without having to import it into their TOS install just to see the code... It should be considered proper forum etiquette to always post code...

 

[QUIKTDR1]

Hypoluxa and others interested,​

Instead of Ergonomic I have been analyzing MACD 3,10,36 (your settings) with the Hull average type and it appears to offer earlier signals to your wonderful post. Let me know if you all see a possible advantage.

 

[antojoseph]

@antojoseph Everyone can post images here, you just have to do it the correct way... Very few forums allow direct image posting these days, for a multitude of reasons - mainly storage space requiring pricier hosting packages... See How to insert image in a post thread? for information on posting images... I have used imgur.com almost daily for posting here using the BBCode option...

Also, it is very helpful to post the code for indicators rather than simply posting a shared link... The TOS shared link system breaks with almost every update and then we have to answer a bunch of complaints about them not working... Using Copy & Paste of Thinkscript code works the first time, virtually every time... Posting code also allows members to review code without having to import it into their TOS install just to see the code... It should be considered proper forum etiquette to always post code...

# Here is the source code for Dynamic Hiding Pivots:

# SOURCE: Unknown
# TYPE: Study Trendlines
# CREDITS: Unknown

input timeFrame = {default DAY, WEEK, MONTH};
input showOnlyCurrent = yes;
input DynamicHide = yes;
def h = dynamichide;
#
# Define lclose = last completed bar close:
#
rec lclose = if IsNaN(close) then lclose[1] else close;

plot R3;
plot R2;
plot R1;
plot PP;
plot S1;
plot S2;
plot S3;

if (showOnlyCurrent and !IsNaN(close(period = timeFrame)[-1]) or IsNaN(close))
then {
R1 = Double.NaN;
R2 = Double.NaN;
R3 = Double.NaN;
PP = Double.NaN;
S1 = Double.NaN;
S2 = Double.NaN;
S3 = Double.NaN;
} else {
PP = (high(period = timeFrame)[1] + low(period = timeFrame)[1] + close(period=timeframe)[1]) / 3;
R1 = 2 * PP - low(period = timeFrame)[1];
R2 = PP + high(period = timeFrame)[1] - low(period = timeFrame)[1];
R3 = R2 + high(period = timeFrame)[1] - low(period = timeFrame)[1];
S1 = 2 * PP - high(period = timeFrame)[1];
S2 = PP - high(period = timeFrame)[1] + low(period = timeFrame)[1];
S3 = S2 - high(period = timeFrame)[1] + low(period = timeFrame)[1];
}


#
# Formatting:
# Set color, line weight, style and hiding parameters
# for each pivot level
#
PP.SetDefaultColor(color.magenta);
pp.SetLineWeight(4);
pp.SetStyle(curve.long_DASH);
pp.setHiding(h and (lclose > r2 or lclose < s2));
pp.setpaintingStrategy(paintingStrategy.DASHES);
pp.setHiding();
#
r1.SetDefaultColor(color.red);
r1.SetLineWeight(4);
r1.SetStyle(curve.long_DASH);
r1.setHiding(h and lclose < s1);
r1.setpaintingStrategy(paintingStrategy.DASHES);
#
r2.SetDefaultColor(color.red);
r2.SetLineWeight(1);
r2.SetStyle(curve.long_DASH);
r2.setHiding(h and lclose < r1);
r2.setpaintingStrategy(paintingStrategy.DASHES);
#
r3.SetDefaultColor(color.red);
r3.SetLineWeight(1);
r3.SetStyle(curve.short_DASH);
r3.setHiding(h and lclose < r2);
r3.setpaintingStrategy(paintingStrategy.DASHES);
#
s1.SetDefaultColor(color.GREEN);
s1.SetLineWeight(4);
s1.SetStyle(curve.long_DASH);
s1.setHiding(h and lclose > r1);
s1.setpaintingStrategy(paintingStrategy.DASHES);
#
s2.SetDefaultColor(color.GREEN);
s2.SetLineWeight(1);
s2.SetStyle(curve.long_DASH);
s2.setHiding(h and lclose > s1);
s2.setpaintingStrategy(paintingStrategy.DASHES);
#
s3.SetDefaultColor(color.GREEN);
s3.SetLineWeight(1);
s3.SetStyle(curve.short_DASH);
s3.setHiding(h and lclose > s2);
s3.setpaintingStrategy(paintingStrategy.DASHES);

 

[antojoseph]

# Here is the source code for Dynamic Hiding Pivots:

# SOURCE: Unknown
# TYPE: Study Trendlines
# CREDITS: Unknown

input timeFrame = {default DAY, WEEK, MONTH};
input showOnlyCurrent = yes;
input DynamicHide = yes;
def h = dynamichide;
#
# Define lclose = last completed bar close:
#
rec lclose = if IsNaN(close) then lclose[1] else close;

plot R3;
plot R2;
plot R1;
plot PP;
plot S1;
plot S2;
plot S3;

if (showOnlyCurrent and !IsNaN(close(period = timeFrame)[-1]) or IsNaN(close))
then {
R1 = Double.NaN;
R2 = Double.NaN;
R3 = Double.NaN;
PP = Double.NaN;
S1 = Double.NaN;
S2 = Double.NaN;
S3 = Double.NaN;
} else {
PP = (high(period = timeFrame)[1] + low(period = timeFrame)[1] + close(period=timeframe)[1]) / 3;
R1 = 2 * PP - low(period = timeFrame)[1];
R2 = PP + high(period = timeFrame)[1] - low(period = timeFrame)[1];
R3 = R2 + high(period = timeFrame)[1] - low(period = timeFrame)[1];
S1 = 2 * PP - high(period = timeFrame)[1];
S2 = PP - high(period = timeFrame)[1] + low(period = timeFrame)[1];
S3 = S2 - high(period = timeFrame)[1] + low(period = timeFrame)[1];
}


#
# Formatting:
# Set color, line weight, style and hiding parameters
# for each pivot level
#
PP.SetDefaultColor(color.magenta);
pp.SetLineWeight(4);
pp.SetStyle(curve.long_DASH);
pp.setHiding(h and (lclose > r2 or lclose < s2));
pp.setpaintingStrategy(paintingStrategy.DASHES);
pp.setHiding();
#
r1.SetDefaultColor(color.red);
r1.SetLineWeight(4);
r1.SetStyle(curve.long_DASH);
r1.setHiding(h and lclose < s1);
r1.setpaintingStrategy(paintingStrategy.DASHES);
#
r2.SetDefaultColor(color.red);
r2.SetLineWeight(1);
r2.SetStyle(curve.long_DASH);
r2.setHiding(h and lclose < r1);
r2.setpaintingStrategy(paintingStrategy.DASHES);
#
r3.SetDefaultColor(color.red);
r3.SetLineWeight(1);
r3.SetStyle(curve.short_DASH);
r3.setHiding(h and lclose < r2);
r3.setpaintingStrategy(paintingStrategy.DASHES);
#
s1.SetDefaultColor(color.GREEN);
s1.SetLineWeight(4);
s1.SetStyle(curve.long_DASH);
s1.setHiding(h and lclose > r1);
s1.setpaintingStrategy(paintingStrategy.DASHES);
#
s2.SetDefaultColor(color.GREEN);
s2.SetLineWeight(1);
s2.SetStyle(curve.long_DASH);
s2.setHiding(h and lclose > s1);
s2.setpaintingStrategy(paintingStrategy.DASHES);
#
s3.SetDefaultColor(color.GREEN);
s3.SetLineWeight(1);
s3.SetStyle(curve.short_DASH);
s3.setHiding(h and lclose > s2);
s3.setpaintingStrategy(paintingStrategy.DASHES);

# Source code for True Momentum Oscillator

# TMO ((T)rue (M)omentum (O)scilator)
# Mobius
# V01.05.2018
# hint: TMO calculates momentum using the delta of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.

declare Lower;

input length = 14;
input calcLength = 5;
input smoothLength = 3;

def o = open;
def c = close;
def data = fold i = 0 to length
with s
do s + (if c > getValue(o, i)
then 1
else if c < getValue(o, i)
then - 1
else 0);
def EMA5 = ExpAverage(data, calcLength);
plot Main = ExpAverage(EMA5, smoothLength);
plot Signal = ExpAverage(Main, smoothLength);
Main.AssignValueColor(if Main > Signal
then color.green
else color.red);
Signal.AssignValueColor(if Main > Signal
then color.green
else color.red);
Signal.HideBubble();
Signal.HideTitle();
addCloud(Main, Signal, color.green, color.red);
plot zero = if isNaN(c) then double.nan else 0;
zero.SetDefaultColor(Color.gray);
zero.hideBubble();
zero.hideTitle();
plot ob = if isNaN(c) then double.nan else round(length * .7);
ob.SetDefaultColor(Color.gray);
ob.HideBubble();
ob.HideTitle();
plot os = if isNaN(c) then double.nan else -round(length * .7);
os.SetDefaultColor(Color.gray);
os.HideBubble();
os.HideTitle();
addCloud(ob, length, color.light_red, color.light_red, no);
addCloud(-length, os, color.light_green, color.light_green);
# End Code TMO

 

[antojoseph]

# Source code for True Momentum Oscillator

# TMO ((T)rue (M)omentum (O)scilator)
# Mobius
# V01.05.2018
# hint: TMO calculates momentum using the delta of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.

declare Lower;

input length = 14;
input calcLength = 5;
input smoothLength = 3;

def o = open;
def c = close;
def data = fold i = 0 to length
with s
do s + (if c > getValue(o, i)
then 1
else if c < getValue(o, i)
then - 1
else 0);
def EMA5 = ExpAverage(data, calcLength);
plot Main = ExpAverage(EMA5, smoothLength);
plot Signal = ExpAverage(Main, smoothLength);
Main.AssignValueColor(if Main > Signal
then color.green
else color.red);
Signal.AssignValueColor(if Main > Signal
then color.green
else color.red);
Signal.HideBubble();
Signal.HideTitle();
addCloud(Main, Signal, color.green, color.red);
plot zero = if isNaN(c) then double.nan else 0;
zero.SetDefaultColor(Color.gray);
zero.hideBubble();
zero.hideTitle();
plot ob = if isNaN(c) then double.nan else round(length * .7);
ob.SetDefaultColor(Color.gray);
ob.HideBubble();
ob.HideTitle();
plot os = if isNaN(c) then double.nan else -round(length * .7);
os.SetDefaultColor(Color.gray);
os.HideBubble();
os.HideTitle();
addCloud(ob, length, color.light_red, color.light_red, no);
addCloud(-length, os, color.light_green, color.light_green);
# End Code TMO

A picture explanation here.

https://imgur.com/a/AtkrcN6

 

[Hypoluxa]

Hypoluxa and others interested,​

Instead of Ergonomic I have been analyzing MACD 3,10,36 (your settings) with the Hull average type and it appears to offer earlier signals to your wonderful post. Let me know if you all see a possible advantage.

Is that the same as hull moving average that's in TOS? If so, which settings are you using?