Strategy Based on EMAs, TSI, MACD, and Premarket Highs/Lows For ThinkOrSwim

[Intrinsic Knowledge]

As I was saying this morning. I saw BABA was trending towards 5EMA, price was over-extended yesterday, histogram was trending down on 5 min and 30 min, VIX was going up, buy signal triggered, option price crossed 5EMA so I bought $92 Puts. Made 100%. Had to set a stop loss because I am at work and it triggered

Refer to the bottom of post# 1 for further explanation.

Edit. Go look at where the price bounced and tell me the 5EMA is not magic!

Hi bro, I think if you might want to consider to plot the daily EMA into the 5min or 30min TF so that you could refer to just 1 chart. Just my 2cents! Cheers bro, very much appreciated your sharing.

 

[a1cturner]

What do you set in a study for the option window that showing several green bars. Mine option window only show a few bars. I set the timeframe is 1 day 5 minutes.

https%3A//i.imgur.com/KsTs6e6.png[/img]']

I think it was just the volume of that particular strike. Yours is June 17th. I was looking at June 3rd. I was also on 5 minutes like you.

 

[a1cturner]

Hi bro, I think if you might want to consider to plot the daily EMA into the 5min or 30min TF so that you could refer to just 1 chart. Just my 2cents! Cheers bro, very much appreciated your sharing.

Can you expand? I don’t understand exactly what you mean by “daily EMA”. Do you mean to plot where the 5EMA would be on the daily chart but plot it on the 5 min or 30 minute?

I do like to see the price action and levels of the daily chart. It gives me a good feel for what the price might do as well as support/resistance levels.

 

[DSG]

Can you expand? I don’t understand exactly what you mean by “daily EMA”. Do you mean to plot where the 5EMA would be on the daily chart but plot it on the 5 min or 30 minute?

I do like to see the price action and levels of the daily chart. It gives me a good feel for what the price might do as well as support/resistance levels.

Hello a1cturner, I was reading this post trying to solve a problem I'm having. I'm trying to take some of the Daily SMAs and plot them on my 5 min, however, if I want to plot the 20 day, that's 1800 5 min bars, however, even with extended sessions turned off, the calculation isn't matching. Any script for something like this?

 

[a1cturner]

Hello a1cturner, I was reading this post trying to solve a problem I'm having. I'm trying to take some of the Daily SMAs and plot them on my 5 min, however, if I want to plot the 20 day, that's 1800 5 min bars, however, even with extended sessions turned off, the calculation isn't matching. Any script for something like this?

Not that I know of. It probably has something to do with extended hours on the intraday and no extended hours on the daily. I have tried that in the past and it was close but not exact.

Maybe you could add in a time parameter and get the close of the last bar of the day for the last 19 days and the close of the current 5 minute bar. Just guessing

 

[Sledge_H]

Hey a1turner, again great work! Your usage explanation was perfect for understanding your approach. My question is can the bar colors be turned off? meaning just wanting to see the signals but view the bars in traditional colors? I tried turning off the flexgridbackground, but nothing did it, looked at code and there is no direct way I see. Thx

 

[Fluideng]

Can you expand? I don’t understand exactly what you mean by “daily EMA”. Do you mean to plot where the 5EMA would be on the daily chart but plot it on the 5 min or 30 minute?

I do like to see the price action and levels of the daily chart. It gives me a good feel for what the price might do as well as support/resistance levels.

##Moving Average agg.

input Show_MA = yes;
input MAlength = 5;
input MAType = AverageType.EXPONENTIAL;
input MAaggperiod1 = {"1 min", "2 min", "5 min", "10 min", "15 min", "30 min", "1 hour", "4 hours", default "Day"};

plot movavg = if Show_MA then MovingAverage(MAType,close(period = MAaggperiod1), MAlength) else double.nan;

movavg.SetStyle(Curve.SHORT_DASH);
movavg.SetLineWeight(3);

def UP = movavg[1] < movavg;
def DOWN = movavg[1] > movavg;
movAvg.AssignValueColor(if UP then Color.LIGHT_GREEN else if DOWN then Color.RED else Color.YELLOW);

 

[Fluideng]

##Moving Average agg.

input Show_MA = yes;
input MAlength = 5;
input MAType = AverageType.EXPONENTIAL;
input MAaggperiod1 = {"1 min", "2 min", "5 min", "10 min", "15 min", "30 min", "1 hour", "4 hours", default "Day"};

plot movavg = if Show_MA then MovingAverage(MAType,close(period = MAaggperiod1), MAlength) else double.nan;

movavg.SetStyle(Curve.SHORT_DASH);
movavg.SetLineWeight(3);

def UP = movavg[1] < movavg;
def DOWN = movavg[1] > movavg;
movAvg.AssignValueColor(if UP then Color.LIGHT_GREEN else if DOWN then Color.RED else Color.YELLOW);

Just added Show_MA.

 

[Fluideng]

Just added Show_MA.

Strong support at the Daily 5EMA on spy.

 

[a1cturner]

Hey a1turner, again great work! Your usage explanation was perfect for understanding your approach. My question is can the bar colors be turned off? meaning just wanting to see the signals but view the bars in traditional colors? I tried turning off the flexgridbackground, but nothing did it, looked at code and there is no direct way I see. Thx

You could just put a “#” in front of the assignpricecolor line. I would be careful with that because I would hate for you to miss your sell signal.

 

[Kislayakanan]

Thank you sharing this strategy, I wanted to understand couple of things:
1. Once, you see green bar on 5 min chart, you wait for the arrow to come and then enter on candle after the arrow is printed?(Close 5 EMA)
For example, TSLA had green candle at 6.45 am PST today, but arrow came on 6.50 candle. So you would enter at 6.55/6.56?
2. Do you use TSIMACD always? with this strategy or that is nice to have? I want to understand if green candle arrow is good for entry or we need TSIMACD above zero as well?

 

[a1cturner]

Thank you sharing this strategy, I wanted to understand couple of things:
1. Once, you see green bar on 5 min chart, you wait for the arrow to come and then enter on candle after the arrow is printed?(Close 5 EMA)
For example, TSLA had green candle at 6.45 am PST today, but arrow came on 6.50 candle. So you would enter at 6.55/6.56?
2. Do you use TSIMACD always? with this strategy or that is nice to have? I want to understand if green candle arrow is good for entry or we need TSIMACD above zero as well?

1. Correct. You shouldn't ever get a white arrow on the first green bar I'm pretty sure. The white arrow means that the low of the current bar is within the range of the 5EMA +/- 0.25%. The white dash is the level of the prior bar 5EMA +/- 0.25%. Obviously it is hard to get in on the low unless you pull the trigger the second the white arrow appears so that is where the white dash comes into play. You would want to get in when the price is at or below (above for short) the white dash. Hope that makes sense.
2. The MACD TSI Histogram is just something I have been playing with. It is just a nice to have thing and honestly I noticed that the MACD portion of that on the 5 minute and 30 minute stays right around 0 so it is basically just a TSI level.

 

[Drmoh1800]

@a1cturner i want you to look at this indicator
i wrote it first as momentom now i use it as stop
basically its to 2 opposite momentum against each other
when buying green line >red line i stay in the trade
when red line crosses green i exit right away
i noticed it gives good result in 10 m
check if its any dood to refine your stop
declare lower;
def sun = Highest(high, 5);
def land = Lowest(low, 5);
plot up =( close / land)*100 ;
plot down =( sun/close)*100 ;

def Bull = up > 100.2;
def Bear = down > 100.2;
up.AssignValueColor(if Bull then Color.GREEN else if Bear then Color.RED else Color.GRAY);
up.SetStyle(Curve.FIRM);
down.SetStyle(Curve.FIRM);

 

[Kislayakanan]

1. Correct. You shouldn't ever get a white arrow on the first green bar I'm pretty sure. The white arrow means that the low of the current bar is within the range of the 5EMA +/- 0.25%. The white dash is the level of the prior bar 5EMA +/- 0.25%. Obviously it is hard to get in on the low unless you pull the trigger the second the white arrow appears so that is where the white dash comes into play. You would want to get in when the price is at or below (above for short) the white dash. Hope that makes sense.
2. The MACD TSI Histogram is just something I have been playing with. It is just a nice to have thing and honestly I noticed that the MACD portion of that on the 5 minute and 30 minute stays right around 0 so it is basically just a TSI level.

Few more questions:

1. Got it, thanks. Does this repaint? Can white arrow disappear once it appears?
2. Does 5 minute is a good timeframe to use this?
3. Do certain stock do well? For example SQ had a false signal today at 9.20 PST it had a red candle with arrow and on next candle it reversed and stopped out.
4. Any tips to reduce these fake outs?

 

[a1cturner]

Few more questions:

1. Got it, thanks. Does this repaint? Can white arrow disappear once it appears?
2. Does 5 minute is a good timeframe to use this?
3. Do certain stock do well? For example SQ had a false signal today at 9.20 PST it had a red candle with arrow and on next candle it reversed and stopped out.
4. Any tips to reduce these fake outs?

1. Yes it can repaint
2. 5-minute is what I found works best for me
3. I don’t use this on index funds. Usually only individual securities with typical large intraday movements. AAPL, FB, BABA, OXY, AMD, NVDA etc
4. Trading a little later in the morning will reduce these “fake outs”. Also if TSI is above 3 to 5 and trending up or below -3 to -5 and trending down on the 5 minute and 30 minute helps. That is usually a trend confirmation for me. I like to watch the TSI trend on the 30 minute and if it crosses up or down (depending on the direction of price movement) and the 5 minute is trending in the same direction and I get a buy signal, usually the price will continue trending for long enough to book a good profit.

 

[Kislayakanan]

1. Yes it can repaint
2. 5-minute is what I found works best for me
3. I don’t use this on index funds. Usually only individual securities with typical large intraday movements. AAPL, FB, BABA, OXY, AMD, NVDA etc
4. Trading a little later in the morning will reduce these “fake outs”. Also if TSI is above 3 to 5 and trending up or below -3 to -5 and trending down on the 5 minute and 30 minute helps. That is usually a trend confirmation for me. I like to watch the TSI trend on the 30 minute and if it crosses up or down (depending on the direction of price movement) and the 5 minute is trending in the same direction and I get a buy signal, usually the price will continue trending for long enough to book a good profit.

Thank you,

1.when you say TSI...it is the TSIMACDLine indicator correct? and do you make any changes to the default setting?
2. What would be a good time to start? after 1 hour of market open?

 

[a1cturner]

Thank you,

1.when you say TSI...it is the TSIMACDLine indicator correct? and do you make any changes to the default setting?
2. What would be a good time to start? after 1 hour of market open?

1. Yeah that’s what I meant but if you refer to my previous post, the MACD TSI histogram is really just TSI because the MACD stays around 0. A standard ToS TSI indicator would be fine.
2. Maybe 30 minutes to an hour depending on the day. After trading for a while you will get a “feeling” if the market is going to go up or down that day or end flat. It’s those flat days that ****.

 

[fskhan]

Step 8. Now I switch to my flex grid where I have the 5 minute, 30 minute, 5 minute option that I want to buy, and active trader up. That way I am ready to pounce when the signal hits.

Hi @a1cturner could you please share your flex grid. Being new to TOS, I am having difficulty setting this up. Thanks and regards

 

[a1cturner]

Hi @a1cturner could you please share your flex grid. Being new to TOS, I am having difficulty setting this up. Thanks and regards

http://tos.mx/ayMIIbf

I have changed a few things since that screenshot so you may see a little difference

 

[a1cturner]

@a1cturner i want you to look at this indicator
i wrote it first as momentom now i use it as stop
basically its to 2 opposite momentum against each other
when buying green line >red line i stay in the trade
when red line crosses green i exit right away
i noticed it gives good result in 10 m
check if its any dood to refine your stop
declare lower;
def sun = Highest(high, 5);
def land = Lowest(low, 5);
plot up =( close / land)*100 ;
plot down =( sun/close)*100 ;

def Bull = up > 100.2;
def Bear = down > 100.2;
up.AssignValueColor(if Bull then Color.GREEN else if Bear then Color.RED else Color.GRAY);
up.SetStyle(Curve.FIRM);
down.SetStyle(Curve.FIRM);

I’ll look into it