TOP Ultimate Breakout Indicator for ThinkorSwim

[QUIKTDR1]

@mcdon030 Thank you for your response!

The lower indicator from post 225 is the "Buy the Dip Percentile" and its available with the VIP membership (what is a good investment for me).

Thank you for your response!

 

[barbaros]

After working with this indicator for a while now, I feel like the atr multiplier for the targets needs to automatically adjust depending on the market. I am using 2000t. For tick charts, may be it could be the time delta range between each tick candle painting. The reason I am starting to feel this is needed is because during times where market continues a trend, this indicator works perfectly. When the market has a lot of reversals, it is hard to pick a side. However, I observed this week that my losses could be winners if my targets were lower. I am still up 20% but it could be at 40%...

 

[Chuck]

After working with this indicator for a while now, I feel like the atr multiplier for the targets needs to automatically adjust depending on the market. I am using 2000t. For tick charts, may be it could be the time delta range between each tick candle painting. The reason I am starting to feel this is needed is because during times where market continues a trend, this indicator works perfectly. When the market has a lot of reversals, it is hard to pick a side. However, I observed this week that my losses could be winners if my targets were lower. I am still up 20% but it could be at 40%...

I have noticed the exact same thing.

 

[samoya]

After working with this indicator for a while now, I feel like the atr multiplier for the targets needs to automatically adjust depending on the market. I am using 2000t. For tick charts, may be it could be the time delta range between each tick candle painting. The reason I am starting to feel this is needed is because during times where market continues a trend, this indicator works perfectly. When the market has a lot of reversals, it is hard to pick a side. However, I observed this week that my losses could be winners if my targets were lower. I am still up 20% but it could be at 40%...

Barbaros, I am trading 2 Lots NQ 2000 Ticks and I use 1 ATR for the 1. target. The 2. Lot I allow to move and set the SL an BE.
That works fine for me. I use small SL and sometimes I get stopped out, but when a trend moves its fine

 

[barbaros]

@samoya I have been using 2 ATR, 2 contracts for /ES. When the trend continues, it has been very profitable. I take first profit at the first target, and let the second one either exit with SL or at second target, if it gets there.

I am wondering if the TradeRisk, as it is called in the script, needs to also relate to the profit targets. Instead of multiples of ATR, it can be 1:1.5 risk to reward ratio...etc. Just trying to come up with an easier way to quantify the market behavior...

 

[samoya]

Sorry, I am a little confused. You said "1 ATR for the 1. target. The 2. Lot I allow to move and set the SL an BE." This seems to be exactly what I am doing, but you are saying you look at your abs(entry - SL) and set your targets?

Sorry for the confusion.
For me

• define risk
• and define targets

are 2 seperate things.

Target is defined according to 1 ATR
Risk is defined by using and predefined risk amount according to entry point and SL

[/IMG]

 

[barbaros]

@samoya Got it. I know I need to adjust settings to fit the market conditions. I'm trying to not do too much curve fitting. So, I was thinking that the atr mult can be adjusted dynamically depending on the speed of tick candles are painted.

Here are my settings for 2000t /ES.

Do you mind looking at /ES chart today for the sell side with your UBI and BTD? How many valid sell signals do you get so far? I'm trying to type this as I am managing another trade.

 

[barbaros]

What are your thoughts of using this with UBI?
https://usethinkscript.com/threads/eci-gaussian-indicator-for-thinkorswim.1160/

 

[QUIKTDR1]

What are your thoughts of using this with UBI?
https://usethinkscript.com/threads/eci-gaussian-indicator-for-thinkorswim.1160/

I'm testing it with MACD 6,13,5 looks interesting, not employing it RT until testing and comfortable.

 

[QUIKTDR1]

I'm testing it with MACD 6,13,5 looks interesting, not employing it RT until testing and comfortable.

Looking good! Whether it is consistent in all markets is yet to be determined by my analysis

 

[Chence27]

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).

 

[tradeidea20]

What time fame are you using? or if tick chart? @Chence27 @samoya

 

[samoya]

What time fame are you using? or if tick chart? @Chence27 @samoya

I use Range Bars 50 and 100 Ticks

 

[Chence27]

What time fame are you using? or if tick chart? @Chence27 @samoya

I'm using a 3200t chart for the main signals, plus a 1600t chart, 512 tick chart and 20 tick range chart for confirmation of the main chart signals and early entries when support and resistance levels are respected.

 

[samoya]

I only take the signals from the UBI with the confirmation of the red (long term) arrows from the BTD percentile.

For the entry I wait to

• MACD 5/8/3 fast line crosses above the zero line (for Long and Short vice versa)
• MACD 13/21/8 fast line to cross above slow line (for Long an Short vice versa)

I trade 2 Lots and exit 1 Lot at the 1. Target (yellow line) and move the SL to BE and let the 2. Lot run until I get stopped out. The signals are very accurate, but you cant prevent to get stopped out sometimes.

That's part of the game and the SL is small.

 

[ssaeed73]

@samoya whats your win rate with this strategy and how often do you get entry signals in a day?

 

[samoya]

@samoya whats your win rate with this strategy and how often do you get entry signals in a day?

I trade 50 Ticks Range NQ and I am 7 out 10 times right. It depends on the day how often I have entries. I only take 1 trade and if it is a winner I have done for the day.

 

[ssaeed73]

@samoya Thank you. How often are signals generated by this indicator coupled with BTD indicator?

 

[Thomas]

I echo samoya's question. How do you use this?

Originally this was a Ken Hahn creation,....with MACD default setting 12,26,9,.....it tells you all MTF are synched. I changed to an aggressive short and medium TF, then kept the original longer term. Visually you can understand quickly what to expect in a direction or trade. It's a tool, along with price I thought was extremely helpful. You decide if this can work for you, MACD is lagging indicator but with the setting as such, will show changes.....

If you replaced the candles with just the Ma's you would have a picture like so,....and can find a trade very easily.

The 3 dips into the 8ema,...but surfing a longer MA,.......you can actually trade from the MA's...

 

[MatthewTherrien]

So I have installed :

# Top Ultimate Breakout Indicator
# tomsk
# 1.22.2020

And in my screenshot - I have the indicator set to Sell - and I am trying to understand how the white bubbles can be entry points for Sell when the area shown is in a moderate uptrend (this is a 5 min timeframe)

Maybe I am just misunderstanding what I am seeing

Thanks for any guidance - appreciated