SPX Trading Strategy for ThinkorSwim

[Hypoluxa]

@Hypoluxa Do you count market open price changes as well? For example, Thursday's opening price (2/4) would met all the requirements

No, I don't. I trade in the moment as to what the chart and indicator is telling me at that moment.

 

[dmaffo]

No, I don't. I trade in the moment as to what the chart and indicator is telling me at that moment.

For Entry do you only enter at 0 line xover or do you ever enter 2 or 3 dots up if all looks trending nicely?

 

[Hypoluxa]

For Entry do you only enter at 0 line xover or do you ever enter 2 or 3 dots up if all looks trending nicely?

If you would, take a look at my very first post on this setup to get a clear understanding of what to look for.

 

[Trader_Rich]

I came across this thread searching for something else and was very intrigued. Since I'm addicted to Renko Bars now, I changed the settings for 3 tick Renko Bars and it seems to work perfectly for scalping /ES, and /CL. I cannot get it to work for /NQ as I believe /NQ moves too fast for the indicators to pick up on it and once they do the trend is already exhausted. As of now, I have the Renko's set at 3 ticks with a 15 day interval.

I read @Hypoluxa instructions, and I think I understand them to be as follows:
Take shorts only when
price is below the EMA
MACD_BB is Red and below the zero line
Didi Index is Red
I set a dead zone on the Ergodic at -35, thus the histogram has to be below or touching my dead zone

Take longs only when:
price is above the EMA
MACD_BB is Green above the zero lone
Didi Index is Green
I set a dead zone on the Ergodic at +35, thus the histogram has to be above or touching my dead zone

I have used this strategy all week on CL and ES and haven't lost a trade. NQ...not so much =-( I've shared my chart below in case anyone is interested

https://tos.mx/MqiGfDc

 

[alsniper]

I came across this thread searching for something else and was very intrigued. Since I'm addicted to Renko Bars now, I changed the settings for 3 tick Renko Bars and it seems to work perfectly for scalping /ES, and /CL. I cannot get it to work for /NQ as I believe /NQ moves too fast for the indicators to pick up on it and once they do the trend is already exhausted. As of now, I have the Renko's set at 3 ticks with a 15 day interval.

I read @Hypoluxa instructions, and I think I understand them to be as follows:
Take shorts only when
price is below the EMA
MACD_BB is Red and below the zero line
Didi Index is Red
I set a dead zone on the Ergodic at -35, thus the histogram has to be below or touching my dead zone

Take longs only when:
price is above the EMA
MACD_BB is Green above the zero lone
Didi Index is Green
I set a dead zone on the Ergodic at +35, thus the histogram has to be above or touching my dead zone

I have used this strategy all week on CL and ES and haven't lost a trade. NQ...not so much =-( I've shared my chart below in case anyone is interested

https://tos.mx/MqiGfDc

TOS sharing doesn't work. do you mind making a screen shot of your study settings?

 

[dmaffo]

TOS sharing doesn't work. do you mind making a screen shot of your study settings?

 

[dmaffo]

Its a little work but if you open in set up you can get this. Hope this helps.

 

[Ghs]

@Trader_Rich - Thanks for sharing your strategy. Can an alert be created based on the criteria you mentioned for /ES and /CL?

 

[Trader_Rich]

I have not been able to figure out how to set alerts for Renko Tick charts. Ive seen a post or two on the subject but no definitive answers

 

[rad14733]

I have not been able to figure out how to set alerts for Renko Tick charts. Ive seen a post or two on the subject but no definitive answers

Alerts are set the same way as with normal candles, by price... I've used them in the past myself... You can't set by brick/bar and Ticks are always based on a price-point per Tick anyway...

 

[Trader_Rich]

Alerts are set the same way as with normal candles, by price... I've used them in the past myself... You can't set by brick/bar and Ticks are always based on a price-point per Tick anyway...

@rad14733 When I go to set an alert say we are using this particular study and I want the conditions to be when Price is above the EMA, and the Ergodic Oscillator to be touching the deadzone I have designated, and the MACD_BB to be above/below the zero line...TOS only lets me set the alert based on a given time period 1m, 5m, 4 hr, etc. With Renko Bars, they aren't time based and I just want an alert to trigger when the conditions I outlined above are met...is this possible using Renko?

 

[rad14733]

@rad14733 When I go to set an alert say we are using this particular study and I want the conditions to be when Price is above the EMA, and the Ergodic Oscillator to be touching the deadzone I have designated, and the MACD_BB to be above/below the zero line...TOS only lets me set the alert based on a given time period 1m, 5m, 4 hr, etc. With Renko Bars, they aren't time based and I just want an alert to trigger when the conditions I outlined above are met...is this possible using Renko?

Well, some Studies and Indicators just don't play well with Tick-based Charts... That's one of the reasons I've switched back to either standard candles or Hiekin Ashi Charts, for the most part... Anything based on aggregation periods will be problematic and you'll usually get a small circled exclamation mark in the upper left corner of your Charts... If you see one up there, click on it and it will tell you why it's there...

If I use Renko Bars I have to be selective with my Studies and Indicators...

 

[pal_yc]

@Hypoluxa - Should the TOS Chart Setting/Equities/Displays: Price Type be Last, Bid, Ask or Mark? Thanks in advance!

 

[Hypoluxa]

Are you referring to the "trade" tab? If so, here's what mine looks like.

https://imgur.com/a/mUrEIWE

 

[rad14733]

@Hypoluxa I think @pal_yc was referring to:

https://imgur.com/oyBScGL

He's asking about Price Type the way I read it...

 

[Hypoluxa]

@pal_yc sorry about that...here's mine:

https://imgur.com/a/PCgQUjD

 

[Hypoluxa]

@Hypoluxa I think @pal_yc was referring to:

https://imgur.com/oyBScGL

He's asking about Price Type the way I read it...

Yep thanks!

 

[pal_yc]

Yep thanks!

Thank you @Hypoluxa and @rad14733.

 

[king_louie]

@Hypoluxa Took this out for a spin today. Didn't get a good signal until 12:20PT. Bought 10 call contract. $1600 profit. I did make a mistake on a put at 11:10am. I followed all the rules except one. The heikin ashi candles were mixed as the MACD was crossing below zero line. Trend quickly changed and took a nice loss lol.

I do have one question. Do you enter at the candle close or as soon as macd crosses over?

If anyone else is going to try this, follow ALL of the rules. Patience is the name of the game, position size accordingly and get out of bad trades as quickly as possible.

 

[Hypoluxa]

@king_louie I'm still kicking myself for not getting in that call signal at 3:30ET today....the premium I looked at first was $11.20 and it went all the way to $19.00!! I've always been hesitant about getting in one that late in the day.
And 12:20 your time was at the bottom for that put...i noticed that put too, but didn't go down like i wished it had. As far as entry, its best to see "daylight" between the dot and the zero line.