The Big Four Chart SetUp For ThinkOrSwim

[AspaTrader]

As I feared Someone is taking it and selling it as their own with Sub!
https://pkay2402.substack.com (They are setting the chart to 1D 10Min)https://pkay2402.substack.com/p/charts-scanner-studies

At least give credit to the original author!

 

[TradingNumbers]

Created a small strat , let me see View attachment 19160


Thanks a lot!!!

Back Testing looks good
View attachment 19161

Very interesting. Looking forward to finding out more about what you came up with.

 

[jwhite021974]

Created a small strat , let me see View attachment 19160


Thanks a lot!!!

Back Testing looks good
View attachment 19161

How are you determining your target / do you have a stop loss on the backtest? What criteria did you use to enter the trades?

 

[METAL]

http://tos.mx/sQS3mOB

Not sure the watchlist has anything to do with the signals being accurate

I get what you are saying, but my watchlists didn't show a signal for a couple of the signals you posted. I just wanted to make sure I had the right one. Thanks for sharing.

 

[illbdam69]

I get what you are saying, but my watchlists didn't show a signal for a couple of the signals you posted. I just wanted to make sure I had the right one. Thanks for sharing.

What symbols didn't show up on your end? You may have your settings incorrect. If you can show me your settings and an example chart. TY.

 

[METAL]

Okay all,
Here is what I have as of today, 1hr with TMO in position.
NFLX Dn
NVDA Dn
CRM Dn
AMAT Dn
MARA down then up
Some of these the TMO is close to zero.

 

[AspaTrader]

How are you determining your target / do you have a stop loss on the backtest? What criteria did you use to enter the trades?

This is just the Fib Levels from Past date 61.8th Percentile (Up and Down)

 

[AspaTrader]

AXP is something I am eyeing with the strategy! I was waiting for the breakout on 1HR and the resistance break on 30 minutes.

 

[HODL-Lay-HE-hoo!]

Here is a study / strategy version of the big four... its a study but can be made a strategy by adding 2 add order lines... anyway called this one a strategy because it calculates the wins % and orders etc. (single aggregation) (the cyan arrows are the big four strategy, you can change the settings and see how it affects the wins %... however, at the current settings it places a ridiculous amount of orders from what ive seen so far at least)

You can also choose "trade daytime only" if you only want to calculate based on the Open and close times (you can change them in settings)

study: https://tos.mx/pTfsshg

 

[smallstacks]

Okay all,
Here is what I have as of today, 1hr with TMO in position.
NFLX Dn
NVDA Dn
CRM Dn
AMAT Dn
MARA down then up
Some of these the TMO is close to zero.

So how did these play out or are you looking at these for next week or so

 

[itsmebob]

Is there any possible way of sharing the chart Brother?

View attachment 19157

This is my setup for now I will let u know if it works for me!!

Can you share this setup please? Been looking for it but cant seem to find it. Thanks in advance!

 

[METAL]

So how did these play out or are you looking at these for next week or so

Just looking for now. wanted to converse with others.

 

[Evan6541]

Here is Big 4 http://tos.mx/stm0Ba7

Big 4 settings are:
Confirmation factor -- 4
Filter with TMO --NO
Colored candles on --YES
Verticals lines on -- NO
Strategy hold trend -- NO

Add Ehler's Distant Coefficient Filter to the chart...this is part of the Big 4 confirmation signals

Add TMO to the chart with settings 30,6,6 (default is 14,5,3
Here is TMO http://tos.mx/tsstWCX

Thank you @illbdam69 , Really appreciate it. Couple of questions:
1. What time frames do I need to set the chart especially for Scalping/Day trading/Swing trading?
2. Can I use the Ehlers with default setting? And how do I use it in my trade decisions? ( Newbie here, apologies if this sounds like a dumb question)

 

[apdusp]

Ok Guys, I am gonna test this from today I will keep updating the progress.

View attachment 19268


30 Mins:
1. HA candles (https://usethinkscript.com/threads/smoothed-heikin-ashi-for-thinkorswim.216/)
2. Confirmation Candles (https://usethinkscript.com/threads/confirmation-candles-indicator-for-thinkorswim.6316/) Just the lines and no candle colors.
3. Custom Fib Levels built for HA ( I have uploaded for fib and wedges : https://usethinkscript.com/threads/heikin-ashi-hull-tmo-zigzag-chart-setup.13360/#post-54717)
4. TMO with settings specified here 30,6,6
5. Buy Sell with Targets (Custom)

1 Hour Panel:
1. Buy Sell with Targets (Custom)
2. Confirmation Candles (https://usethinkscript.com/threads/confirmation-candles-indicator-for-thinkorswim.6316/) Just the lines and no candle colors.
3. Buy sell label: https://usethinkscript.com/threads/tue-adx-macd-confluence-for-thinkorswim.15937/ with MACD (18,50,100)
4. TMO with 30,6,6

would you be so kind to share the link to the double chart?

 

[Kislayakanan]

@GiantBull Thank you the indicator, one question I have is the anchored mom "green line" or "red line" and does it matter if one is above the other?

 

[AspaTrader]

Sure let me post it today

 

[AspaTrader]

Long CZR

 

[TDAK]

I have 2 main watchlists...one is called "Default" and it probably has about 500+ stocks. Then I have a "Favorites" which has probably half of the stocks from Default. These are filtered out based on volume, open interest, bid/ask spreads, and backtesting to see if the signals would have worked previously. But mostly option spreads...I don't want to trade options that have wide bid/ask and low volume & open interest.

I have created a scan for up/dn signals on the 1 HR pulling from my "favorites." I have also added scans for 1 HR within 6 bars (1day) and 12 bars (2 days). This allows me to go back and see which stocks have confirmed long or short without having to keep up with them every hour. Sometimes you'll get a signal early in the hour but the stock may not confirm if the price doesn't close above Ehlers Distant Coeffeint. So having the scans within 6 & 12 bars will only grab those that have confirmed.

Here are the scans. I'm not sure if these will work. This scan looks for the TMO less than Zero for Up signals and TMO greater than zero for Dn Scans.

You can also change the timeframe to whatever time you want...I also have saved scans for Daily w/n 1 bar, 5 bars (week) and 10 bars (2 weeks). As well as Weekly timeframe.

http://tos.mx/1Tj1J6C - Scan for Big Four Up 1 Hr w/n 1 bar
http://tos.mx/oS8p3Yy - Scan for Big Four Up 1 Hr w/n 6 bars
http://tos.mx/NfMMobv - Scan for Big Four Up 1 Hr w/n 12 bars

http://tos.mx/1Tj1J6C - Scan for Big Four Dn 1 Hr w/n 1 bar
http://tos.mx/i2fL63S - Scan for Big Four Dn 1 Hr w/n 6 bars
http://tos.mx/8rNAA54 - Scan for Big Four Dn 1 Hr w/n 12 bars

http://tos.mx/6XQSLFG - My Favorites Watchlist

I hope this helps.

http://tos.mx/1Tj1J6C - Scan for Big Four Up 1 Hr w/n 1 bar
and
http://tos.mx/1Tj1J6C - Scan for Big Four Dn 1 Hr w/n 1 bar
have same link Can you sharing me "Scan for Big Four Dn 1 Hr w/n 1 bar" ?
Thanks

 

[illbdam69]

Thank you @illbdam69 , Really appreciate it. Couple of questions:
1. What time frames do I need to set the chart especially for Scalping/Day trading/Swing trading?
2. Can I use the Ehlers with default setting? And how do I use it in my trade decisions? ( Newbie here, apologies if this sounds like a dumb question)

1. For Scalping/Day trading I would use @GiantBull (the author of Big 4) strategy of 3 min timeframe. Because the settings I provided above were meant for the 3min timeframe.

For Swing trading I use 1H timeframe albeit the same settings. As I found they work very well.

2. Yes...use the default settings for Ehler's Distant Coefficient Filter (DCF). The Big Four will provide a bullish signal with a white up arrow and bearish signal with a white down arrow. Make sure you wait until the 1H has closed and the signal completely confirmed. It does not repaint...but it can confirm a few minutes into the 1H candle and if the stock doesn't hold above/below Ehlers then it will not confirm. Then look at the Daily chart to make sure this is in agreement with the direction. You don't want to be caught in a longer term downtrend. Also look at your lower timeframes 3 min for example to find a better entry...The stock could be pulling back on the 3 min and you could get a better price. I like to trade 2-3 weeks expirations away from the date the signals occur to give the stock time to play out and to prevent any major drawdowns. If this isn't possible due to account size then try to at least trade 1 week out and use a the Ehler's or Supertrend (mobius or CCI) as your stop.

Another trick I like to use is copy/paste the option strike price I'm interested in trading which is usually an ATM call/put into a separate 3 min chart with the Big 4, supertrend, ehler's , TMO (same setup) and watch for the option to also confirm on this timeframe.

Hope this helps.

 

[graci117]

I have been using the Big Four with Mobius Supertrend. I have absolutely been killing it the last 4 weeks. I use it on the 1 Hour time frame. I look for Up or Dn signals to confirm on the 1 Hour and then look at the Daily to see if it conforms with the direction...then narrow down to 10, 3, 1 min charts for entries. It has absolutely changed my trading! I don't use any of the stuff from Hodl-Lay only because I don't understand what is going with his charts. But the Original Big Four is simple and it works GREAT! I can also use with ease on the TOS Mobile app. Big Four works on Mobile. So I can make money while at work. I almost always buy the next weeks expiration to give it time to work out. IF the stock has been in a downtrend and you get an UP signal will usually work and vice versa. However, if the stock has been in a range I avoid those. TMO needs to be below zero for calls and above zero for puts. I have had several multi-baggers of 100, 200, 300, 400 & 500%. I have left lots of money on the table also....as I was getting use to the strength of this indicator. I love using it for SPX trades on 3Min and I also put the option strike price in a separate chart and use the big four for the signal on an option about 10-20 strikes away from the price and this has worked tremedously as well. Can usually scalp -$100-$300/day with just a a couple trades per day.

Hope this helps you...I know it has changed my trading life!

Account is up 440% since I began using this indicator on the 1 Hour signals over the last 3-4 weeks.

Hi @illbdam69 - Thanks for posting your su Do you use the Big 4 from the first post?

@GiantBull - Thanks so much for this indicator.
@GiantBull @illbdam69 -I see that you have traded SPY, SPX on the 3 minute chart. Do you also look at the higher timeframes for confirmation

@cocojumbo @METAL @illbdam69 - I did get a lot of pointers as to what you look at when swing trading. Do you think you could maybe create a video of what you look at or the trade recaps.