The Big Four Chart SetUp For ThinkOrSwim

[CaseyPlays_]

Can you share your chart?

This setup looks sweet. Just quick scalps on /es?

 

[smallstacks]

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.

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.

Did you mean use the settings that @GiantBull has and your settings were for 1 hr or 30 mins and is Ehler's the indicator from tos

Also can you pls give us a example of using Ehler's /or supertrend as stop loss

Thanks for sharing

 

[squirrely]

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

Scan for Scan for Big Four Dn 1 Hr w/n 1 bar
https://tos.mx/4J34G3g

 

[laflame]

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

this chart set up is amazing! could you share your chart link please?

 

[RicRams]

Target label is from my indicator ...

Please share this indicator, I would like to play with the targets given. TIA!

 

[HODL-Lay-HE-hoo!]

(the study is uses a VIP study thus the link is to a VIP thread: https://usethinkscript.com/threads/the-confirmation-trend-chart-vip.16186/post-129043)

Created to compare settings for the Big4 and or the Big7. In settings one can choose to use the original big four strategy confirmation level (max level is 4) or the Big7 (max level is 7) and or individually change various settings such as ehlers length etc... anyway more information to come...

 

[HODL-Lay-HE-hoo!]

Please share this indicator, I would like to play with the targets given. TIA!

The link in the post above is to the study... however, it contains code from a VIP study thus it cannot be shared on a public thread

 

[pschoe]

Buying NKE 08/18 110C @ 2.6

View attachment 19272


TMO: Green (Cross Over)
Candle: Green
ADX MACD: Green

SL: 107.53 (Confirmed Candles Lines)

Thanks for sharing your NKE trade with us. I will follow this trade to see the end result. Could you please share the scripts for the "indicators" at the top of your page? I do have Big 4 v1.5 Bullish/Bearish but would like to add the ones you have as well.

 

[kgrass]

This is what I mean when I say it's a bit hard to transition to another timeframe because most of the time almost all the parameters will change to be suitable for that specific timeframe and even security. For the TMO (30,6,6) those parameters are a bit high because the TF was for the 3 minute. So, when using it on the hourly TF it won't give you optimal signals as it will be a bit late. You could try changing it to 20,4,2 as that would give you signals faster. Just keep in mind you will have to sacrifice some moves due to the TMO now being faster. I think the scan might be easier to make once the Super trend is added to the code. I will do that in a bit.

The trades I make on the 3-minute TF usually average to about 2-3. I love that the TMO acts as a great filter to take trades. If you don't use that your trades would go up to 7-8 probably and the win % goes down drastically. I need to calculate my win % but when I first started to use it the % was up to 70%. Obviously, it will be a lot different now.

@GiantBull Do you now use the 20, 4, 2 TMO settings in place of 14, 5, 3 for SPY 3min day trades? Or are you switching those settings just when looking for an exit (my guess is you're not but just checking)?

 

[Eyl]

I agree, the big 4 is very good on its own. If I were to use the it and nothing else I prefer the modified version (Big7) which simply adds triple exhaustion and Vix alert 4 (actually need to rename it the big 6 haha) to the mix as it provides an early warning as to the end of a trend or to signal a pullback. I find the big 4 arrows work well but I only use them with the TMO filter on (the version I use TMO only filters arrows not candle color)

That being said the big 4 is a great indicator on it’s own.

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

Is there a way to create multiple time frames for the "BIG_4" if I'm looking at the 3-minute chart, but want the "BIG_4" mimic the 10 Minute chart. Less noise on the chart?

input agg = AggregationPeriod.TEN MIN ;
def close = close(period = agg)


Thank you

# SuperTrend Yahoo Finance Replica - Modified from Modius SuperTrend
# Modified Modius ver. by RConner7
# Modified by Barbaros to replicate look from TradingView version
# v3.0

input AtrMult = 1.00;
input nATR = 4;
input AvgType = AverageType.HULL;
input PaintBars = no;
input ShowBubbles = no;
input ShowTodayOnly = no;  # Added input to control showing only the current day


def ATR = ATR("length" = nATR, "average type" = AvgType);

def UP_Band_Basic = HL2 + (AtrMult * ATR);
def LW_Band_Basic = HL2 + (-AtrMult * ATR);

def UP_Band = if ((UP_Band_Basic < UP_Band[1]) or (close[1] > UP_Band[1])) then UP_Band_Basic else UP_Band[1];
def LW_Band = if ((LW_Band_Basic > LW_Band[1]) or (close[1] < LW_Band[1])) then LW_Band_Basic else LW_Band[1];

def ST =
    if ((ST[1] == UP_Band[1]) and (close < UP_Band)) then UP_Band
    else if ((ST[1] == UP_Band[1]) and (close > UP_Band)) then LW_Band
    else if ((ST[1] == LW_Band[1]) and (close > LW_Band)) then LW_Band
    else if ((ST[1] == LW_Band) and (close < LW_Band)) then UP_Band
    else LW_Band;

def today = if !ShowTodayOnly then yes else GetDay() == GetLastDay();  # Calculate "today" variable based on ShowTodayOnly input

plot Long = if close > ST and today then ST else Double.NaN;
Long.AssignValueColor(Color.green);
Long.SetLineWeight(2);

plot Short = if close < ST and today then ST else Double.NaN;
Short.AssignValueColor(Color.red);
Short.SetLineWeight(3);

def LongTrigger = isNaN(Long[1]) and !isNaN(Long);
def ShortTrigger = isNaN(Short[1]) and !isNaN(Short);

plot LongDot = if LongTrigger and today then ST else Double.NaN;
LongDot.SetPaintingStrategy(PaintingStrategy.POINTS);
LongDot.AssignValueColor(Color.green);
LongDot.SetLineWeight(4);

plot ShortDot = if ShortTrigger and today then ST else Double.NaN;
ShortDot.SetPaintingStrategy(PaintingStrategy.POINTS);
ShortDot.AssignValueColor(Color.RED);
ShortDot.SetLineWeight(4);

AddChartBubble(ShowBubbles and LongTrigger and today, ST, "B", Color.GREEN, no);
AddChartBubble(ShowBubbles and ShortTrigger and today, ST, "S", Color.RED, yes);

AssignPriceColor(if PaintBars and close < ST and today then Color.RED
    else if PaintBars and close > ST and today then Color.GREEN
    else Color.CURRENT);

Alert(LongTrigger and today, "Long", Alert.BAR, Sound.Bell);
Alert(ShortTrigger and today, "Short", Alert.BAR, Sound.Bell);

# End Code SuperTrend Yahoo Finance Replica

 

[apdusp]

(the study is uses a VIP study thus the link is to a VIP thread: https://usethinkscript.com/threads/the-confirmation-trend-chart-vip.16186/post-129043)

Created to compare settings for the Big4 and or the Big7. In settings one can choose to use the original big four strategy confirmation level (max level is 4) or the Big7 (max level is 7) and or individually change various settings such as ehlers length etc... anyway more information to come...

just a suggestion, as the w/l results generally overlap the lines in the dashboard, see below the code which I just copied from @SleepyZ allow to change the position of the results, if wished:

input showbubbles = yes;
input bubblemover = 2;
def b = bubblemover;
def b1 = b + 1;
def mover = showbubbles and IsNaN(close) and !IsNaN(close[b1]);

PS: if this option is already incorporated into the indicator, I am blind to it.

 

[Grroov]

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

View attachment 19356

Hi, can you please post your chart grid.. appreciate it bro..

 

[HODL-Lay-HE-hoo!]

just a suggestion, as the w/l results generally overlap the lines in the dashboard, see below the code which I just copied from @SleepyZ allow to change the position of the results, if wished:

input showbubbles = yes;
input bubblemover = 2;
def b = bubblemover;
def b1 = b + 1;
def mover = showbubbles and IsNaN(close) and !IsNaN(close[b1]);

PS: if this option is already incorporated into the indicator, I am blind to it.

thank you! haha I had been trying to figure that out for some reason i was not able to get it to work...

well on second thought that is likely the code to move them up or down rather than to the left or right... but I will look into it.

 

[illbdam69]

@GiantBull Do you now use the 20, 4, 2 TMO settings in place of 14, 5, 3 for SPY 3min day trades? Or are you switching those settings just when looking for an exit (my guess is you're not but just checking)?

@GiantBull uses TMO (30,6,6) on the 3 min timeframe for entries.

 

[illbdam69]

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.

Sorry for the late reply. I have been out of town. For day trading SPY, SPX I use the 3 min timeframe. If I was looking for a swing trade I would use the 1H for confirmation.

I have no idea how to create a video. sorry. lol

 

[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)

Sorry for the late reply. 3 Min for scalping/day trading. 1H for swing trading works well. Yes, use the Ehlers default (34)...IMO from what I can tell from the Big 4 code...The Ehler's is the last stand for confirmation bullish/bearish. So you'll want to wait for the candle to completely close in the timeframe you're using before entering. Otherwise you may not get a full confirmation.

Another trick that I really love and almost can't enter/exit without it is to copy/paste the Option strike price into a separate 3 min chart with all the same indicators and use the same criteria for entering.

 

[71Warhawk]

I read most of the 17 pages today. What a wonderful idea!!!

I created a simple scan where price
crosses above Ehlers http://tos.mx/A3V27Gg and below Ehlers http://tos.mx/24wfZOd to go along with the Big Four setup. Was wondering what you guys think about this and suggestions to improve if you think this is beneficial.

Also open to any tips you might pass along. Thanks!!! You guys and ladies are the best.

 

[ahramper1]

@GiantBull @TradingNumbers first, I want to thank you for creating this indicator! It is the best. I'm still testing big 4 on paper trading and getting close to start trading on real. Thanks again to everybody with your comments and experiences using Big 4. I would like to know if you have a scanner for big 4 in the way of a watchlist column, @HODL-Lay-HE-hoo! made one but I'm not sure if that's official scan for big 4, thanks again.

 

[HODL-Lay-HE-hoo!]

The watchlist column I made represents the candle color (background color) and the arrows (thumbs up or down) the arrow indication for the watchlist is using the TMO filter option and the background color is not TMO filtered. The strategy confirmation factor is set to 4.

But you can edit sources and change any setting similar to how you would the study settings on the chart if you so choose.

 

[ahramper1]

The watchlist column I made represents the candle color (background color) and the arrows (thumbs up or down) the arrow indication for the watchlist is using the TMO filter option and the background color is not TMO filtered. The strategy confirmation factor is set to 4.

But you can edit sources and change any setting similar to how you would the study settings on the chart if you so choose.

Thank you @HODL-Lay-HE-hoo! I will copy your watchlist column. I have another question about Big 4, every time I log in on Tos the colored candles is not working correctly on some charts, I don't know if the indicator can only be open once or not I'm going to share a screen of spy and qqq with Big 4, so you can see the issue with Big 4 (QQQ is not changing the color of the candles). @HODL-Lay-HE-hoo! I'm going to add @TradingNumbers on my post maybe he knows what I need to change on my setup to eliminate the issue with Big 4.
thanks again.