The Big Four Chart SetUp For ThinkOrSwim

Backtesting this without using the TMO will give a lot more losing trades. Especially when the market is in a range. I think the last 30 days are a good example to backtest this on since we have been in a range. If you take an entry every time a buy/sell signal is fired, you will most likely be caught in chop. Just this one day alone you would get 4 losing trades which can seriously hurt.

JtgoyNw.png


The purple lines are the losing trades and the white lines are the winning trades. How ever, if you implememnted the TMO by only taking a long position when the TMO is below 0 and only taking a short position when the TMO is above 0 you would only have 1 losing trade that day.

ICHjaHK.png


If you noticed there are also less white lines. In the first image you had 3 now you only have 2. However, I wouldn't look at it as a downside since you now only have 1 losing trade rather than 4 as previously. So, there are going to some days where the market is trending so hard in one direction where you won't get any trade signals like on Friday. At least when you do there is a 7/10 chance the signal will be correct. I prefer those odds.
 
You have ETH turned off. This also skews moving average based indicators. I think this is primarily the difference between your observations vs mine. In the next version, I’ll make TMO as an option to be included in the settings with your logic. That way, others not wanting it can disable it.
 
@GiantBull I added the TMO filter and made it an option. I believe I captured your logic where, when turned on, it only shorts when TMO is above 0 and longs only when TMO is below 0.

Also, since the parameters are set for this indicator for SPY 3m, I removed the inputs to simplify the options panel. Let me know your thoughts.

WlNLMeB.png


Code: 
# The Big Four Indicator
# https://usethinkscript.com/threads/the-big-four-chart-setup.14711/
# v1.0 - GiantBull and TradingNumbers
# v1.1 - TradingNumbers - hiding vertical lines by ddefault and added arrows
# v1.2 - TradingNumbers - added TMO
# v1.3 - TradingNumbers - hold trend input added
# v1.4 - TradingNumbers - simplified options, added filter with TMO, and set conditions per GianBull parameters

# AK Trend

def aktrend_input1 = 3;
def aktrend_input2 = 8;
def aktrend_price = close;

def aktrend_fastmaa = MovAvgExponential(aktrend_price, aktrend_input1);
def aktrend_fastmab = MovAvgExponential(aktrend_price, aktrend_input2);
def aktrend_bspread = (aktrend_fastmaa - aktrend_fastmab) * 1.001;

def cond1_UP = if aktrend_bspread > 0 then 1 else 0;
def cond1_DN = if aktrend_bspread <= 0 then -1 else 0;

# ZSCORE

def zscore_price = close;
def zscore_length = 20;
def zscore_ZavgLength = 20;

def zscore_oneSD = StDev(zscore_price, zscore_length);
def zscore_avgClose = SimpleMovingAvg(zscore_price, zscore_length);
def zscore_ofoneSD = zscore_oneSD * zscore_price[1];
def zscore_Zscorevalue = ((zscore_price - zscore_avgClose) / zscore_oneSD);
def zscore_avgZv = Average(zscore_Zscorevalue, 20);
def zscore_Zscore = ((zscore_price - zscore_avgClose) / zscore_oneSD);
def zscore_avgZscore = Average(zscore_Zscorevalue, zscore_ZavgLength);

def cond2_UP = if zscore_Zscore > 0 then 1 else 0;
def cond2_DN = if zscore_Zscore <= 0 then -1 else 0;

# Ehlers

def ehlers_length = 34;

def ehlers_price = (high + low) / 2;
def ehlers_coeff = ehlers_length * ehlers_price * ehlers_price - 2 * ehlers_price * Sum(ehlers_price, ehlers_length)[1] + Sum(ehlers_price * ehlers_price, ehlers_length)[1];
def ehlers_Ehlers = Sum(ehlers_coeff * ehlers_price, ehlers_length) / Sum(ehlers_coeff, ehlers_length);

def cond3_UP = if close > ehlers_Ehlers then 1 else 0;
def cond3_DN = if close <= ehlers_Ehlers then -1 else 0;

# Anchored Momentum

def amom_src = close;
def amom_MomentumPeriod = 10;
def amom_SignalPeriod = 8;
def amom_SmoothMomentum = no;
def amom_SmoothingPeriod = 7;

def amom_p = 2 * amom_MomentumPeriod + 1;
def amom_t_amom = if amom_SmoothMomentum == yes then ExpAverage(amom_src, amom_SmoothingPeriod) else amom_src;
def amom_amom = 100 * ( (amom_t_amom / ( Average(amom_src, amom_p)) - 1));
def amom_amoms = Average(amom_amom, amom_SignalPeriod);


def cond4_UP = if amom_amom > 0 then 1 else 0;
def cond4_DN = if amom_amom <= 0 then -1 else 0;

# TMO

def tmo_length = 30; #def 14
def tmo_calcLength = 6; #def 5
def tmo_smoothLength = 6; #def 3

def tmo_data = fold i = 0 to tmo_length with s do s + (if close > GetValue(open, i) then 1 else if close < GetValue(open, i) then - 1 else 0);
def tmo_EMA5 = ExpAverage(tmo_data, tmo_calcLength);
def tmo_Main = ExpAverage(tmo_EMA5, tmo_smoothLength);
def tmo_Signal = ExpAverage(tmo_Main, tmo_smoothLength);
def tmo_color = if tmo_Main > tmo_Signal then 1 else -1;

def cond5_UP = if tmo_color > 0 and tmo_Main <= 0 then 1 else 0;
def cond5_DN = if tmo_color <= 0 and tmo_Main >= 0 then -1 else 0;

# Strategy

input Strategy_Confirmation_Factor = 4;
input Strategy_FilterWithTMO = no;
input Strategy_ColoredCandlesOn = yes;
input Strategy_VerticalLinesOn = no;
input Strategy_HoldTrend = yes;

def cond_UP = cond1_UP + cond2_UP + cond3_UP + cond4_UP;
def cond_DN = cond1_DN + cond2_DN + cond3_DN + cond4_DN;

def direction = if cond_UP >= Strategy_Confirmation_Factor and (!Strategy_FilterWithTMO or cond5_UP) then 1
                else if cond_DN <= -Strategy_Confirmation_Factor and (!Strategy_FilterWithTMO or cond5_DN) then -1
                else if !Strategy_HoldTrend and direction[1] == 1 and cond_UP < Strategy_Confirmation_Factor and cond_DN > -Strategy_Confirmation_Factor then 0
                else if !Strategy_HoldTrend and direction[1] == -1 and cond_DN > -Strategy_Confirmation_Factor and cond_UP < Strategy_Confirmation_Factor then 0
                else direction[1];

plot signal_up = direction == 1 and direction[1] < 1;
signal_up.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
signal_up.SetDefaultColor(Color.WHITE);
signal_up.Hide();
signal_up.HideBubble();
signal_up.HideTitle();

plot signal_dn = direction == -1 and direction[1] > -1;
signal_dn.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
signal_dn.SetDefaultColor(Color.WHITE);
signal_dn.Hide();
signal_dn.HideBubble();
signal_dn.HideTitle();

AssignPriceColor(if Strategy_ColoredCandlesOn then if direction == 1 then Color.LIGHT_GREEN else if direction == -1 then Color.RED else Color.GRAY else Color.CURRENT);

AddVerticalLine(Strategy_VerticalLinesOn and signal_up, "Buy", Color.LIGHT_GREEN);
AddVerticalLine(Strategy_VerticalLinesOn and signal_dn, "Sell", Color.RED);

Alert(signal_up, "Buy", Alert.BAR, Sound.DING);
Alert(signal_dn, "Sell", Alert.BAR, Sound.DING);
 
Used this morning trading futures on the 1 min. ES. Worked really nice in conjunction of some of the other items I have set up on my charts. I used the version showed in post 22. I used the TMO in a separate lower chart along with 2 MACDs. Loooking forward to the rest of the week to see how it goes, but for now it looks like a keeper !
 
gJ9E7yj.png


Perfect day today! Caught the downside midday as highlighted in the image in yellow. This is why it's so important to use the TMO with this strategy. If you didn't you would have caught a false entry highlighted in purple. However, if you followed the rules the TMO was below 0 so you would take no short trades. You would have avoided this false signal. The short entry was only taken because the TMO was above 0. The TMO is a great filter for signals and increases accuracy by a great %. This strategy usually will give out 1-3 signals a day some days even none when the market is trending hard to one side. However, this is fine by me because I would rather take on one trade with a 7 out of 10 chance it being profitable. You don't waste money on commissions by trading 20 times a day. As long as you keep your losses at a minimum you will be profitable.

@TradingNumbers The TMO filter is still not working as it should. When I turn it on it gives me signals based on the TMO turning positive or negative which isn't what the strategy is supposed to do. The 2nd code you posted with the hold trend filter is the most accurate code for this strategy when you turn it off as I did today.

@mactheknife Interesting how you're using this on the 1 min. Would love to see your set up!
 
Last edited:
GiantBull said:
gJ9E7yj.png


Perfect day today! Caught the downside midday as highlighted in the image in yellow. This is why it's so important to use the TMO with this strategy. If you didn't you would have caught a false entry highlighted in purple. However, if you followed the rules the TMO was below 0 so you would take no short trades. You would have avoided this false signal. The short entry was only taken because the TMO was above 0. The TMO is a great filter for signals and increases accuracy by a great %. This strategy usually will give out 1-3 signals a day some days even none when the market is trending hard to one side. However, this is fine by me because I would rather take on one trade with a 7 out of 10 chance it being profitable. You don't waste money on commissions by trading 20 times as day. As long as you keep your losses at a minimum you will be profitable.

@TradingNumbers The TMO filter is still not working as it should. When I turn it on it gives me signals based on the TMO turning positive or negative which isn't what the stretgy. The 2nd code you posted with the hold trend filter is the most accurate code for this strategy when you turn it off as I did today.

@mactheknife Interesting how you're using this on the 1 min. Would love to see your set up!
Click to expand...
Do we not want to take long when TMO is green color and shorts when TMO is red? Or strategy is only above and below zero?
 
TradingNumbers said:
Do we not want to take long when TMO is green color and shorts when TMO is red? Or strategy is only above and below zero?
Click to expand...
No the TMO color does not matter. As long as the TMO is above 0 you can only take short trades and if it’s below only buy trades are taken. The color doesn’t matter when the signal is fired
 
GiantBull said:
No the TMO color does not matter. As long as the TMO is above 0 you can only take short trades and if it’s below only buy trades are taken. The color doesn’t matter when the signal is fired
Click to expand...
No problem. Here is the update. Also added labels.

0H1blUA.png

Code: 
# The Big Four Indicator
# https://usethinkscript.com/threads/the-big-four-chart-setup.14711/
# v1.0 - GiantBull and TradingNumbers
# v1.1 - TradingNumbers - hiding vertical lines by ddefault and added arrows
# v1.2 - TradingNumbers - added TMO
# v1.3 - TradingNumbers - hold trend input added
# v1.4 - TradingNumbers - simplified options, added filter with TMO, and set conditions per GianBull parameters
# v1.5 - TradingNumbers - removed TMO color filter percentChg GiantBull, added labels

# Info Labels

input showLabels = yes;
AddLabel(showLabels, " The Big Four v1.5 ", Color.WHITE);

# AK Trend

def aktrend_input1 = 3;
def aktrend_input2 = 8;
def aktrend_price = close;

def aktrend_fastmaa = MovAvgExponential(aktrend_price, aktrend_input1);
def aktrend_fastmab = MovAvgExponential(aktrend_price, aktrend_input2);
def aktrend_bspread = (aktrend_fastmaa - aktrend_fastmab) * 1.001;

def cond1_UP = if aktrend_bspread > 0 then 1 else 0;
def cond1_DN = if aktrend_bspread <= 0 then -1 else 0;

# ZSCORE

def zscore_price = close;
def zscore_length = 20;
def zscore_ZavgLength = 20;

def zscore_oneSD = StDev(zscore_price, zscore_length);
def zscore_avgClose = SimpleMovingAvg(zscore_price, zscore_length);
def zscore_ofoneSD = zscore_oneSD * zscore_price[1];
def zscore_Zscorevalue = ((zscore_price - zscore_avgClose) / zscore_oneSD);
def zscore_avgZv = Average(zscore_Zscorevalue, 20);
def zscore_Zscore = ((zscore_price - zscore_avgClose) / zscore_oneSD);
def zscore_avgZscore = Average(zscore_Zscorevalue, zscore_ZavgLength);

def cond2_UP = if zscore_Zscore > 0 then 1 else 0;
def cond2_DN = if zscore_Zscore <= 0 then -1 else 0;

# Ehlers

def ehlers_length = 34;

def ehlers_price = (high + low) / 2;
def ehlers_coeff = ehlers_length * ehlers_price * ehlers_price - 2 * ehlers_price * Sum(ehlers_price, ehlers_length)[1] + Sum(ehlers_price * ehlers_price, ehlers_length)[1];
def ehlers_Ehlers = Sum(ehlers_coeff * ehlers_price, ehlers_length) / Sum(ehlers_coeff, ehlers_length);

def cond3_UP = if close > ehlers_Ehlers then 1 else 0;
def cond3_DN = if close <= ehlers_Ehlers then -1 else 0;

# Anchored Momentum

def amom_src = close;
def amom_MomentumPeriod = 10;
def amom_SignalPeriod = 8;
def amom_SmoothMomentum = no;
def amom_SmoothingPeriod = 7;

def amom_p = 2 * amom_MomentumPeriod + 1;
def amom_t_amom = if amom_SmoothMomentum == yes then ExpAverage(amom_src, amom_SmoothingPeriod) else amom_src;
def amom_amom = 100 * ( (amom_t_amom / ( Average(amom_src, amom_p)) - 1));
def amom_amoms = Average(amom_amom, amom_SignalPeriod);


def cond4_UP = if amom_amom > 0 then 1 else 0;
def cond4_DN = if amom_amom <= 0 then -1 else 0;

# TMO

def tmo_length = 30; #def 14
def tmo_calcLength = 6; #def 5
def tmo_smoothLength = 6; #def 3

def tmo_data = fold i = 0 to tmo_length with s do s + (if close > GetValue(open, i) then 1 else if close < GetValue(open, i) then - 1 else 0);
def tmo_EMA5 = ExpAverage(tmo_data, tmo_calcLength);
def tmo_Main = ExpAverage(tmo_EMA5, tmo_smoothLength);
def tmo_Signal = ExpAverage(tmo_Main, tmo_smoothLength);
def tmo_color = if tmo_Main > tmo_Signal then 1 else -1;

def cond5_UP = if tmo_Main <= 0 then 1 else 0;
def cond5_DN = if tmo_Main >= 0 then -1 else 0;

# Strategy

input Strategy_Confirmation_Factor = 4;
input Strategy_FilterWithTMO = no;
input Strategy_ColoredCandlesOn = yes;
input Strategy_VerticalLinesOn = no;
input Strategy_HoldTrend = yes;

def cond_UP = cond1_UP + cond2_UP + cond3_UP + cond4_UP;
def cond_DN = cond1_DN + cond2_DN + cond3_DN + cond4_DN;

def direction = if cond_UP >= Strategy_Confirmation_Factor and (!Strategy_FilterWithTMO or cond5_UP) then 1
                else if cond_DN <= -Strategy_Confirmation_Factor and (!Strategy_FilterWithTMO or cond5_DN) then -1
                else if !Strategy_HoldTrend and direction[1] == 1 and cond_UP < Strategy_Confirmation_Factor and cond_DN > -Strategy_Confirmation_Factor then 0
                else if !Strategy_HoldTrend and direction[1] == -1 and cond_DN > -Strategy_Confirmation_Factor and cond_UP < Strategy_Confirmation_Factor then 0
                else direction[1];

plot signal_up = direction == 1 and direction[1] < 1;
signal_up.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
signal_up.SetDefaultColor(Color.WHITE);
signal_up.Hide();
signal_up.HideBubble();
signal_up.HideTitle();

plot signal_dn = direction == -1 and direction[1] > -1;
signal_dn.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
signal_dn.SetDefaultColor(Color.WHITE);
signal_dn.Hide();
signal_dn.HideBubble();
signal_dn.HideTitle();

AssignPriceColor(if Strategy_ColoredCandlesOn then if direction == 1 then Color.LIGHT_GREEN else if direction == -1 then Color.RED else Color.GRAY else Color.CURRENT);

AddLabel(showLabels, if Strategy_ColoredCandlesOn then if direction == 1 then " Bullish " else if direction == -1 then " Bearish " else " Neutral " else " N/A ",
                     if Strategy_ColoredCandlesOn then if direction == 1 then Color.LIGHT_GREEN else if direction == -1 then Color.RED else Color.GRAY else Color.BLACK);

AddVerticalLine(Strategy_VerticalLinesOn and signal_up, "Buy", Color.LIGHT_GREEN);
AddVerticalLine(Strategy_VerticalLinesOn and signal_dn, "Sell", Color.RED);

Alert(signal_up[1], "Buy", Alert.BAR, Sound.DING);
Alert(signal_dn[1], "Sell", Alert.BAR, Sound.DING);
 
TradingNumbers said:
No problem. Here is the update. Also added labels.

0H1blUA.png

Code: 
# The Big Four Indicator
# https://usethinkscript.com/threads/the-big-four-chart-setup.14711/
# v1.0 - GiantBull and TradingNumbers
# v1.1 - TradingNumbers - hiding vertical lines by ddefault and added arrows
# v1.2 - TradingNumbers - added TMO
# v1.3 - TradingNumbers - hold trend input added
# v1.4 - TradingNumbers - simplified options, added filter with TMO, and set conditions per GianBull parameters
# v1.5 - TradingNumbers - removed TMO color filter percentChg GiantBull, added labels

# Info Labels

input showLabels = yes;
AddLabel(showLabels, " The Big Four v1.5 ", Color.WHITE);

# AK Trend

def aktrend_input1 = 3;
def aktrend_input2 = 8;
def aktrend_price = close;

def aktrend_fastmaa = MovAvgExponential(aktrend_price, aktrend_input1);
def aktrend_fastmab = MovAvgExponential(aktrend_price, aktrend_input2);
def aktrend_bspread = (aktrend_fastmaa - aktrend_fastmab) * 1.001;

def cond1_UP = if aktrend_bspread > 0 then 1 else 0;
def cond1_DN = if aktrend_bspread <= 0 then -1 else 0;

# ZSCORE

def zscore_price = close;
def zscore_length = 20;
def zscore_ZavgLength = 20;

def zscore_oneSD = StDev(zscore_price, zscore_length);
def zscore_avgClose = SimpleMovingAvg(zscore_price, zscore_length);
def zscore_ofoneSD = zscore_oneSD * zscore_price[1];
def zscore_Zscorevalue = ((zscore_price - zscore_avgClose) / zscore_oneSD);
def zscore_avgZv = Average(zscore_Zscorevalue, 20);
def zscore_Zscore = ((zscore_price - zscore_avgClose) / zscore_oneSD);
def zscore_avgZscore = Average(zscore_Zscorevalue, zscore_ZavgLength);

def cond2_UP = if zscore_Zscore > 0 then 1 else 0;
def cond2_DN = if zscore_Zscore <= 0 then -1 else 0;

# Ehlers

def ehlers_length = 34;

def ehlers_price = (high + low) / 2;
def ehlers_coeff = ehlers_length * ehlers_price * ehlers_price - 2 * ehlers_price * Sum(ehlers_price, ehlers_length)[1] + Sum(ehlers_price * ehlers_price, ehlers_length)[1];
def ehlers_Ehlers = Sum(ehlers_coeff * ehlers_price, ehlers_length) / Sum(ehlers_coeff, ehlers_length);

def cond3_UP = if close > ehlers_Ehlers then 1 else 0;
def cond3_DN = if close <= ehlers_Ehlers then -1 else 0;

# Anchored Momentum

def amom_src = close;
def amom_MomentumPeriod = 10;
def amom_SignalPeriod = 8;
def amom_SmoothMomentum = no;
def amom_SmoothingPeriod = 7;

def amom_p = 2 * amom_MomentumPeriod + 1;
def amom_t_amom = if amom_SmoothMomentum == yes then ExpAverage(amom_src, amom_SmoothingPeriod) else amom_src;
def amom_amom = 100 * ( (amom_t_amom / ( Average(amom_src, amom_p)) - 1));
def amom_amoms = Average(amom_amom, amom_SignalPeriod);


def cond4_UP = if amom_amom > 0 then 1 else 0;
def cond4_DN = if amom_amom <= 0 then -1 else 0;

# TMO

def tmo_length = 30; #def 14
def tmo_calcLength = 6; #def 5
def tmo_smoothLength = 6; #def 3

def tmo_data = fold i = 0 to tmo_length with s do s + (if close > GetValue(open, i) then 1 else if close < GetValue(open, i) then - 1 else 0);
def tmo_EMA5 = ExpAverage(tmo_data, tmo_calcLength);
def tmo_Main = ExpAverage(tmo_EMA5, tmo_smoothLength);
def tmo_Signal = ExpAverage(tmo_Main, tmo_smoothLength);
def tmo_color = if tmo_Main > tmo_Signal then 1 else -1;

def cond5_UP = if tmo_Main <= 0 then 1 else 0;
def cond5_DN = if tmo_Main >= 0 then -1 else 0;

# Strategy

input Strategy_Confirmation_Factor = 4;
input Strategy_FilterWithTMO = no;
input Strategy_ColoredCandlesOn = yes;
input Strategy_VerticalLinesOn = no;
input Strategy_HoldTrend = yes;

def cond_UP = cond1_UP + cond2_UP + cond3_UP + cond4_UP;
def cond_DN = cond1_DN + cond2_DN + cond3_DN + cond4_DN;

def direction = if cond_UP >= Strategy_Confirmation_Factor and (!Strategy_FilterWithTMO or cond5_UP) then 1
                else if cond_DN <= -Strategy_Confirmation_Factor and (!Strategy_FilterWithTMO or cond5_DN) then -1
                else if !Strategy_HoldTrend and direction[1] == 1 and cond_UP < Strategy_Confirmation_Factor and cond_DN > -Strategy_Confirmation_Factor then 0
                else if !Strategy_HoldTrend and direction[1] == -1 and cond_DN > -Strategy_Confirmation_Factor and cond_UP < Strategy_Confirmation_Factor then 0
                else direction[1];

plot signal_up = direction == 1 and direction[1] < 1;
signal_up.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
signal_up.SetDefaultColor(Color.WHITE);
signal_up.Hide();
signal_up.HideBubble();
signal_up.HideTitle();

plot signal_dn = direction == -1 and direction[1] > -1;
signal_dn.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
signal_dn.SetDefaultColor(Color.WHITE);
signal_dn.Hide();
signal_dn.HideBubble();
signal_dn.HideTitle();

AssignPriceColor(if Strategy_ColoredCandlesOn then if direction == 1 then Color.LIGHT_GREEN else if direction == -1 then Color.RED else Color.GRAY else Color.CURRENT);

AddLabel(showLabels, if Strategy_ColoredCandlesOn then if direction == 1 then " Bullish " else if direction == -1 then " Bearish " else " Neutral " else " N/A ",
                     if Strategy_ColoredCandlesOn then if direction == 1 then Color.LIGHT_GREEN else if direction == -1 then Color.RED else Color.GRAY else Color.BLACK);

AddVerticalLine(Strategy_VerticalLinesOn and signal_up, "Buy", Color.LIGHT_GREEN);
AddVerticalLine(Strategy_VerticalLinesOn and signal_dn, "Sell", Color.RED);

Alert(signal_up[1], "Buy", Alert.BAR, Sound.DING);
Alert(signal_dn[1], "Sell", Alert.BAR, Sound.DING);
Click to expand...
Awesome! Love the label add on!
 
lolreconlol said:
@GiantBull do you notice better results with extended hours on or off? Or isn't there a huge difference?
Click to expand...
I prefer for extended hours to be off because from back testing it showed a higher win % when it was turned off.

b8NwCDe.png


As you can see here when AH was off you were able to catch the big move down since all the requirements for a short trade were met. TMO was above 0 when all 4 indicators gave you a sell signal.

PBMqAbX.png


However, when turned on you would have missed it because TMO never went above 0 for you take a short trade. There are other days were there is a similar situation so if you want to catch a morning trade, I would keep it off.
 
I have been looking, but cannot find tutorial on posting a screen shot. Found the one on posting a chart. I have a few items that I think could be helpful with this strategy if i can figure out how to post the screenshot.
 
jbpCpK9.png

A good example today of why the TMO is a great filter for signals. All 4 indicators gave a buy signal at 2:30 however, the TMO was above 0 sitting at 3.58. So, you would ignore this signal and not get caught in the false uptrend.
 
GiantBull said:
jbpCpK9.png

A good example today of why the TMO is a great filter for signals. All 4 indicators gave a buy signal at 2:30 however, the TMO was above 0 sitting at 3.58. So, you would ignore this signal and not get caught in the false uptrend.
Click to expand...
Entering at the break of the high of that candle for 2 pts for a futures trades is still pretty good.
 
@GiantBull @TradingNumbers

Very nice indicator. The first indicator I have come across in a long time that I added to my trading chart. I also trade SPY options with price action and S/R levels that have proven their usefulness over time. With some modifications to the code to use both signals with and without consideration of TMO, I am really liking what I see.

Great work.
mrEwXg7.jpg
 
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VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
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