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

[tlebouef]

Looks very interesting and will it work on a range chart?

I am running this indicator and no its design structure is based on time charts. Some things will work but essentially makes it useless like the ma's will work but the indicators for arrows and entry lines will not work. All in all what I see with range charts vs time charts is that if there is anything to do with MTF indicators it will not work with range charts even the built in VWAP in TOS will not work with because it has MTF for the day in the code. One could find the movers with this indicator and then switch to range charts to trade off them. A trader may gain some insight this way.

 

[Mafia]

hope to see new update

 

[Jeff1228]

This strategy is currently trending at TOP 15 All-Time Strategies on this forum.
Huge Thank You to @a1cturner for providing not only this indicator but for the countless hours documenting and assisting us in implementing it!

Where can I find all TOP 15 strategies please?

 

[MerryDay]

Where can I find all TOP 15 strategies please?

https://usethinkscript.com/threads/...indicators-tutorials-on-usethinkscript.14566/

 

[billionmetrics]

Thanks for letting me know. I checked TQQQ and SQQQ and you're right, the arrow triggers. Only thing is the options volume is much lower for TQQQ/SQQQ compared to SPY.

@JoseB - Any specific settings for TQQQ/SQQQ you tried? Thanks in advance for sharing.

 

[a1cturner]

Hello, thank you for the contribution. I was trying this strat out and noticed that the TSIMACD histogram seemed awfully similar to the TTM Squeeze indicator I am using. I decided to take out the TSIMACD histo and just use the TTM Squeeze along with main upper strategy on five min chart.
Then I noticed something.... this strat and TTM Squeeze seem to work REALLY well together.
The problem with TTM Squeeze is determining which direction the price will fire and your strat confirms it. It also seems to filter out bad TTM Squeeze firing signals if this strat does also not indicate a buy/sell.
Also, TTM Squeeze seems to get rid of false signals from this strategy by making sure this strat is near a TTM Squeeze "fire" signal.
Please see my pic as an example. This isn't a "one off" ... I'm seeing it happen over and over. I'm thinking this strat combined with the TTM Squeeze indicator may synergize really well. I'll keep testing.

I am finally back!

I was studying for a promotional exam for the fire department and didn't have a single minute to spare for trading unfortunately. I will be "upgrading" the strategy over the next few days to weeks and I am starting with adding in the TTM-Squeeze to the indicator....or at least testing it.

I will also be changing the EMA "spread" for lack of better words so that this strategy can actually be used on Index funds

I am going to try my best to simplify everything as well the best I can.

And finally, I am going to play with a 1 second tick chart to see if I can get this thing working as a scalping tool as well.

Much more to come...including a new name and new thread that I will post the link to here.

Give me a few weeks and send me any ideas you think would benefit the strategy.

 

[METAL]

I am finally back!

I was studying for a promotional exam for the fire department and didn't have a single minute to spare for trading unfortunately. I will be "upgrading" the strategy over the next few days to weeks and I am starting with adding in the TTM-Squeeze to the indicator....or at least testing it.

I will also be changing the EMA "spread" for lack of better words so that this strategy can actually be used on Index funds

I am going to try my best to simplify everything as well the best I can.

And finally, I am going to play with a 1 second tick chart to see if I can get this thing working as a scalping tool as well.

Much more to come...including a new name and new thread that I will post the link to here.

Give me a few weeks and send me any ideas you think would benefit the strategy.

Hopefully, you kicked *** on the exam. Congrats if so!

 

[Fluideng]

I am finally back!

I was studying for a promotional exam for the fire department and didn't have a single minute to spare for trading unfortunately. I will be "upgrading" the strategy over the next few days to weeks and I am starting with adding in the TTM-Squeeze to the indicator....or at least testing it.

I will also be changing the EMA "spread" for lack of better words so that this strategy can actually be used on Index funds

I am going to try my best to simplify everything as well the best I can.

And finally, I am going to play with a 1 second tick chart to see if I can get this thing working as a scalping tool as well.

Much more to come...including a new name and new thread that I will post the link to here.

Give me a few weeks and send me any ideas you think would benefit the strategy.

I am finally back!

I was studying for a promotional exam for the fire department and didn't have a single minute to spare for trading unfortunately. I will be "upgrading" the strategy over the next few days to weeks and I am starting with adding in the TTM-Squeeze to the indicator....or at least testing it.

I will also be changing the EMA "spread" for lack of better words so that this strategy can actually be used on Index funds

I am going to try my best to simplify everything as well the best I can.

And finally, I am going to play with a 1 second tick chart to see if I can get this thing working as a scalping tool as well.

Much more to come...including a new name and new thread that I will post the link to here.

Give me a few weeks and send me any ideas you think would benefit the strategy.

Welcome back. You should scrap the 5 EMA entry and enter on FVG's. They will give you good entries with stop loss areas. You do miss a lot of the runs but keeps you out of chop.

 

[a1cturner]

Welcome back. You should scrap the 5 EMA entry and enter on FVG's. They will give you good entries with stop loss areas. You do miss a lot of the runs but keeps you out of chop.

What do you mean by FVGs?

 

[MerryDay]

What do you mean by FVGs?

Fair Value Gaps are useful for price action traders / scalpers as they highlight market inefficiencies and imbalances.

We have several on the forum. These thread contains some of the most popular:
https://usethinkscript.com/threads/fair-value-gap-fvg-for-thinkorswim.11103/

Keep in mind, FVGs repaint.
You may not post Repainting Strategy scripts which contain AddOrder statements to the forum.
Because with repainters, the P&L results are not realistic.

You should scrap the 5 EMA entry and enter on FVG's. They will give you good entries with stop loss areas. You do miss a lot of the runs but keeps you out of chop.

FVG studies cannot be added to strategy scripts that contain AddOrder statements for the reasons stated above.

 

[graci117]

I am finally back!

I was studying for a promotional exam for the fire department and didn't have a single minute to spare for trading unfortunately. I will be "upgrading" the strategy over the next few days to weeks and I am starting with adding in the TTM-Squeeze to the indicator....or at least testing it.

I will also be changing the EMA "spread" for lack of better words so that this strategy can actually be used on Index funds

I am going to try my best to simplify everything as well the best I can.

And finally, I am going to play with a 1 second tick chart to see if I can get this thing working as a scalping tool as well.

Much more to come...including a new name and new thread that I will post the link to here.

Give me a few weeks and send me any ideas you think would benefit the strategy.

I want to have similar grid with background color only for price crossing pre-market highs and lows. I tried to remove all code but the pre-market and changed the condition, but now it shows me a pink background. Thanks so much for your help!!

 

[Vern60]

I am finally back!

I was studying for a promotional exam for the fire department and didn't have a single minute to spare for trading unfortunately. I will be "upgrading" the strategy over the next few days to weeks and I am starting with adding in the TTM-Squeeze to the indicator....or at least testing it.

I will also be changing the EMA "spread" for lack of better words so that this strategy can actually be used on Index funds

I am going to try my best to simplify everything as well the best I can.

And finally, I am going to play with a 1 second tick chart to see if I can get this thing working as a scalping tool as well.

Much more to come...including a new name and new thread that I will post the link to here.

Give me a few weeks and send me any ideas you think would benefit the strategy.

A huge thank you for the amazing work you have done here. This has quickly become my go to (favorite) strategy.
I did want to chime in on the TSI indicator, especially reading that you are going to be looking at the TTM Squeeze. I have really been enjoying the TTM Wave, notably wave 1, or the A wave as it's called. I actually load the TTM Wave and only plot the A wave. In a direct comparison it seems a bit quicker than TSI, might be worth a look.

 

[inventor1949]

Do any one knows what the "EMA SEP" stands for on the upper labels?

thank you

 

[rikinroy]

@a1cturner - Do you think you can make one quick video of few minutes and upload it on google drive or something?

As someone new - going over this strategy -
it would be easy to understand quickly with different example of what works and what doesn't and what to watch out while trading and exactly how do you use - (including setting watchlist, strategy, scanner etc..) - incase if you have time

 

[jul4]

The strategy is based on a combination of technical indicators such as EMAs, TSI, MACD, and pre-market highs/lows on the ThinkOrSwim platform. It involves entering long positions when the 9-day EMA crosses above the 21-day EMA, confirmed by a positive TSI above the zero line and increasing MACD histogram. Conversely, short positions are taken when the 9-day EMA crosses below the 21-day EMA, confirmed by a negative TSI below the zero line and decreasing MACD histogram. Additional confirmation is sought when the stock's price breaks above the pre-market high or below the pre-market low. A trailing stop is used to protect profits, and a predefined profit target is set. The strategy should be thoroughly backtested, taking into account market conditions and risk management principles. Remember that trading always carries inherent risks, and it's crucial to exercise caution and continuously monitor the strategy's performance.

Do any one knows what the "EMA SEP" stands for on the upper labels?

 

[a1cturner]

Do any one knows what the "EMA SEP" stands for on the upper labels?

thank you

View attachment 19186

It’s the percent of separation between the 5 EMA and 12 EMA. There was ALOT of testing that went into the numbers for this. Just have to make sure you change your settings to the timeframe that you are using or it will be inaccurate.

The setting basically ensures that there is an “appropriate amount” of upward or downward movement of the stock vs just sideways movement.

This will probably never turn green on anything like SPY, SPX, QQQ, IWM etc. if that’s what you trade than I would recommend deleting that part out of the code.

Edit….or maybe change the setting to 0….that may work.

 

[Resiliencetrader]

Hi im new here, it doesn't work on SPY?

 

[TapthatAsk]

Hi im new here, it doesn't work on SPY

Set it up on UVXY and have your SPY chart next to it

 

[TapthatAsk]

It’s the percent of separation between the 5 EMA and 12 EMA. There was ALOT of testing that went into the numbers for this. Just have to make sure you change your settings to the timeframe that you are using or it will be inaccurate.

The setting basically ensures that there is an “appropriate amount” of upward or downward movement of the stock vs just sideways movement.

This will probably never turn green on anything like SPY, SPX, QQQ, IWM etc. if that’s what you trade than I would recommend deleting that part out of the code.

Edit….or maybe change the setting to 0….that may work.

Have you been able to figure out how to make the code not as complex to be able to scan for entries signals?

 

[MerryDay]

Have you been able to figure out how to make the code not as complex to be able to scan for entries signals?

https://usethinkscript.com/threads/...-lows-for-thinkorswim.10866/page-2#post-95999