Repaints Trend Reversal for ThinkorSwim

[tem2005]

Hi, Tem. After I back tested the TR indicator for the month of July; I went on to back test AMD using this indicator for the month of March. The volatility wasn't as great, so my ROI wasn't so appealing. I was still successful with my trades, but I was making like $30-$40 profit with $10,000 trades.

I recently came back into trading small caps and I am currently trading with an indicator called the Trend Painter. It has been working really well, today I made 13% trading the stock CGIX. I sold too early because it's continuing to run. Here's the link to the exact study I use: http://tos.mx/Ypc8FBj.

Here's the link to the thread I got it from. It was brought to my attention by a user named Bon Bon. https://usethinkscript.com/threads/...or-with-buy-sell-signals-for-thinkorswim.226/. Hope this helps.

Hey, sorry didn't get reply notification and didn't pay attention to it.

Thank you for replying. Have you thought to use Lelec Exhaustion in combination with it? I assume will be so great.

 

[Gabrielx77]

Hey, sorry didn't get reply notification and didn't pay attention to it.

Thank you for replying. Have you thought to use Lelec Exhaustion in combination with it? I assume will be so great.

I've never heard of it. I'll check it out.

 

[Parker427]

The scan does not work. It says something like "trying to self align". Can someone link me the scan and maybe a video on how to properly add the scan for the indicator?

 

[BenTen]

@Parker427 Video tutorial has been linked throughout this post many times.

 

[dmillz]

@BenTen I have some questions about this, What if the UpArrow Dissapears and it auto buys? and also can i buy it on a 5min and sell on a 3min. Do I put the sell order code in the 3 min? Do i need to change it to OrderType.BUY_AUTO, for it to work?

 

[BenTen]

@dmillz The backtesting strategy will only count the "right" signals. Because this is a repainting indicator, we will never know which up arrow will be the right until it is right

 

[dmillz]

@dmillz The backtesting strategy will only count the "right" signals. Because this is a repainting indicator, we will never know which up arrow will be the right until it is right

I want to use it Live, Do i Change to it OrderType.BUY_AUTO?

 

[BenTen]

@dmillz That code is for the backtesting strategy, but this is a repainting indicator, so the signals will keep on disappearing. If you want to trade based on the arrows, then use the normal indicator (it will also repaint by the way).

 

[dmillz]

@dmillz That code is for the backtesting strategy, but this is a repainting indicator, so the signals will keep on disappearing. If you want to trade based on the arrows, then use the normal indicator (it will also repaint by the way).

@BenTen Ah i guess i was looking for Automated trading But i guess TOS doesnt do this,

 

[Parker427]

@BenTen Ah i guess i was looking for Automated trading But i guess TOS doesnt do this,

If you get the "trying to self re align" error, you have to scan on a smaller watchlist. apparently no one could tell me this when I asked multiple times but theirs the solution haha

 

[BenTen]

@Parker427 Was asked multiple times and answered multiple times. [1] [2] [3]

 

[3AMBH]

Hey, sorry didn't get reply notification and didn't pay attention to it.

Thank you for replying. Have you thought to use Lelec Exhaustion in combination with it? I assume will be so great.

What time frame are you trading with Trend Painter? Thank you

 

[rad14733]

@BenTen Ah i guess i was looking for Automated trading But i guess TOS doesnt do this,

Correct...!!! TOS doesn't support auto-trading but does allow for quazi-automated trading through the use of Conditional Orders... However, Conditional Orders can only reference TOS licensed studies so if you want anything custom the order has to contain all of the custom code... And once completed, the Conditional Order has to be re-initiated manually as it won't just keep rolling along... It is beyond the scope of this topic to go into much greater detail so I will leave it up to you to research further... But one more tidbit - Conditional Orders don't do aggregations all that well... The best bet is to use very simple conditions... And, for the record, from experience, don't expect much TOS support on what does and doesn't work in Conditional Orders because they can't offer much help...

 

[dmillz]

@rad14733 Yeah I Figured it would be a hasssle, I did look into it through Hann-Tech (https://www.hahn-tech.com/thinkorswim-autotrade-almost/) But its too confusing, I just wanted a simple buy order when arrow forms and sell order when down arrow forms, Oh well Ill just do it manually ****s but it is what it is.

 

[rad14733]

@rad14733 Yeah I Figured it would be a hasssle, I did look into it through Hann-Tech (https://www.hahn-tech.com/thinkorswim-autotrade-almost/) But its too confusing, I just wanted a simple buy order when arrow forms and sell order when down arrow forms, Oh well Ill just do it manually ****s but it is what it is.

I was really into the automated trading, and still am, but haven't had time to put a test trade into play recently... I have, however, been narrowing down a new set of indicators to test together... Hoping to piece together a unique realtime semi-automated scalping system soon...

 

[dmillz]

I was really into the automated trading, and still am, but haven't had time to put a test trade into play recently... I have, however, been narrowing down a new set of indicators to test together... Hoping to piece together a unique realtime semi-automated scalping system soon...

If it includes this study im all in haha,

 

[kenpaysyd]

@BenTen Do you know where i can find this % indicator?

 

[BenTen]

@kenpaysyd What is exactly is that % indicator?

 

[kenpaysyd]

@BenTen Not sure the exact name. It just plots the % change between each move up or down.

 

[Stock Tradin]

I'm sorry I haven't read all 51 pages of comments and or questions ref this indicator which I'm in love with, but is there or could be an alert integrated/triggered when a reversal occurs? Please let me know.... That would be incredible!!