TOP Ultimate Breakout Indicator for ThinkorSwim

freedom Traders

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I did a 2 grid comparison on /CL, can even use it on a 5min chart, need not be 30mins. Left grid thick gray line for buy entry, right grid thick gray line for sell entry.
Results are proven to be very good. Do the lines repaint?
Or, if entered buy entry, once right side sell entry gray line appears, it's also a sign to close the buy entry and enter short?
My question was in the wrong part of the discussion....I am not good at coding. I tried a few times, can't get it yet. This looks great. Is there anyone that can take out the blue and green ATR please. I just want ,if possible the entry and the targets please. Hope it's possible.
 

Chence27

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@samoya I think I found the missing piece to the puzzle. I've added a 9ema/21ema crossover signal to my 3200t chart for entries. Backtesting over a 5 day period got 29 wins and 21 losses. 17 of these wins were big - from 40-100 points. 12 of the wins were small - from 20-40 points. The losses were always 10 points (my stop loss). I am going to do some testing with a couple other moving average lengths to see if I can find an even better moving average crossover pair to signal entries.
 

rad14733

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@samoya I think I found the missing piece to the puzzle. I've added a 9ema/21ema crossover signal to my 3200t chart for entries. Backtesting over a 5 day period got 29 wins and 21 losses. 17 of these wins were big - from 40-100 points. 12 of the wins were small - from 20-40 points. The losses were always 10 points (my stop loss). I am going to do some testing with a couple other moving average lengths to see if I can find an even better moving average crossover pair to signal entries.

Try adjusting your moving averages until you find the sweet spot for your trading style and instruments... Lower them slightly for faster response...
 

Chuck

Member
Try adjusting your moving averages until you find the sweet spot for your trading style and instruments... Lower them slightly for faster response...
Exactly, I use 8EMA and 20SMA and a 34SMA to catch the pullbacks of the highs, keeping me engaged. Not sure if that is ideal on that time frame or not. Works good for me on a 15/10/5 min set up.
 

samoya

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Anybody tried this to eliminate sideways markets?
EMA55 of Higs
EMA55 of Lows
EMA 13 of Closes

If EMA13 is in between the EMAS 55 its a sideways move



Also changed the candles to Range 50 Ticks and Range 100 Ticks (for a better overview). Its much easier to see turning points without the noise from time candles

 

Chence27

Member
@samoya I guess the idea is to only take a trade when the 13 crosses the 55?

I've been experimenting with range charts too. I like that they're the same length. I don't like that sometimes they plot multiple bars simultaneously at lower ranges.

Did you stop using the 2000 tick chart? If so, why?
 

samoya

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I guess the idea is to only take a trade when the 13 crosses the 55?

I've been experimenting with range charts too. I like that they're the same length. I don't like that sometimes they plot multiple bars simultaneously at lower ranges.

Did you stop using the 2000 tick chart? If so, why?

I treid only to see if ther is a benefit to use the EMAs and recognize sideways markets.
But there are breakouts after sideway moves.

The 50 Ticks Range is almost the same move as 2000 Tick charts.
Its similar. What I like using the Range Ticks, is, that you see the price spikes very clear.
Thats why I changed the candles to Range charts.
For the 50 Ragen Ticks I use Heikin Ashi candles and for the "overview" 100 Range Ticks I use normal candles.
Its an a personal preference, 2000 Ticks are working fine.
 

samoya

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For me far the best entry after a signal is to confirm
  • MACD 5-8-3 fast line crosses the zero line
  • MACD 13-21-8 fsst line crosses the slow line

Look at my 2 trades today



... and the next signal short

[/IMG]
 

Chence27

Member
Try adjusting your moving averages until you find the sweet spot for your trading style and instruments... Lower them slightly for faster response...
I tested the same period with an 8ema and a 20sma. The results improved remarkably.

The 9ema/21ema combo had 14 big wins, 7 small wins, and 20 losses.

The 8ema/20sma combo had 18 big wins (over 50 points), 20 small wins (20-50 points), and 20 losses (10 points).
 

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