Trend Reversal Indicator with Signals for ThinkorSwim

technicallydreaming

technicallydreaming

New member
The indicator doesn't work, but I don't know why it hasn't been removed. It redraws entries and exits with each candle.....looks nice but......
I don't agree . I think it should stay . I use it in combination with several other Indicators following it as the first thing I look for to spot an initial trend change. It also sometimes help filter out false signals for other Indicators I have . I like it. It is true though if this indicator didn't repaint, and was that exact we would all be on yachts by now.
 
tenacity11

tenacity11

Active member
2019 Donor
MRNA was the trade....
@camitos
Good for you on the trade!!! Since I'm a day trader my go to's are AMD and TWTR. I also put together a watchlist for symbols on a 3m with certain parameters should there be nothing for me in those 2 other stocks.
 
camitos

camitos

Member
@camitos
Good for you on the trade!!! Since I'm a day trader my go to's are AMD and TWTR. I also put together a watchlist for symbols on a 3m with certain parameters should there be nothing for me in those 2 other stocks.
So UAVS was great but it ALLL ended there lol I'm at P&L of like -35 now. One of my stop losses didn't execute with SRNE and I ended up holding and hoping.
I've heard good things about AMD but not yet about TWTR, I'll definitely try them out with the trend reversals or enhanced ones
 
tenacity11

tenacity11

Active member
2019 Donor
So UAVS was great but it ALLL ended there lol I'm at P&L of like -35 now. One of my stop losses didn't execute with SRNE and I ended up holding and hoping.
I've heard good things about AMD but not yet about TWTR, I'll definitely try them out with the trend reversals or enhanced ones
Sorry about your SRNE trade. I had a good trade in AMD from 12:57-1:30. I don't know what your parameters are for price but I go between 25-75 and min daily volume is 3million when putting together a watchlist. I also like beta between 1.5-2.5.
 
camitos

camitos

Member
Sorry about your SRNE trade. I had a good trade in AMD from 12:57-1:30. I don't know what your parameters are for price but I go between 25-75 and min daily volume is 3million when putting together a watchlist. I also like beta between 1.5-2.5.
I was thinking my entry/exit triggers should be when AMD's price hits the lower BB + a cyan low swing candle appears +/- a reversal arrow. Both the swing candles and reversal arrows repaint so it can be tricky but BB is helpful when combined with them. I'm also noticing that hammer-type candles are better signals for swing lows and not spinning top-types.

Yeah I saw that perfect move there good stuff!



I'm still trying to figure out if I can find a reliable trigger strat on Yahoo Finance's chart though so that I have real-time data lol

Ahh I see I actually don't use a screener, I only use Finviz to check for high volume and price over 200sma but it seems like they have a beta criteria option, I'll check it out!
 
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tenacity11

tenacity11

Active member
2019 Donor
I was thinking my entry/exit triggers should be when AMD's price hits the lower BB + a cyan low swing candle appears +/- a reversal arrow. Both the swing candles and reversal arrows repaint so it can be tricky but BB is helpful when combined with them. I'm also noticing that hammer-type candles are better signals for swing lows and not spinning top-types.

Yeah I saw that perfect move there good stuff!


I'm still trying to figure out if I can find a reliable trigger strat on Yahoo Finance's chart though so that I have real-time data lol

Ahh I see I actually don't use a screener, I only use Finviz to check for high volume and price over 200sma but it seems like they have a beta criteria option, I'll check it out!
Whatever you find works for you with the best risk/reward . I'm not a Bollinger Band fan but that's not to say they are not good. I found what works best for me and I know you will too.
 
camitos

camitos

Member
Whatever you find works for you with the best risk/reward . I'm not a Bollinger Band fan but that's not to say they are not good. I found what works best for me and I know you will too.
Thanks :) Yeah I aim for at least 2.5:1

Another great move
 
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camitos

camitos

Member
Whatever you find works for you with the best risk/reward . I'm not a Bollinger Band fan but that's not to say they are not good. I found what works best for me and I know you will too.
Hope you traded AMD this morning! 3% from 9:30-11 am
 
H

HimanBoss

New member
2019 Donor
Reversal script taken in to account of forward looking candles therefore not a realistic representation of results. Also it does deletes the plotted bubble from the chart in case price goes in reverse.
 
C

cfw238

New member
Reversal script taken in to account of forward looking candles therefore not a realistic representation of results. Also it does deletes the plotted bubble from the chart in case price goes in reverse.
it repaints you have to use swing high and low i believe
 
camitos

camitos

Member
Reversal script taken in to account of forward looking candles therefore not a realistic representation of results. Also it does deletes the plotted bubble from the chart in case price goes in reverse.
It definitely does repaint but nothing is guaranteed in the market.
What I like so far is combining the trend reversal indicator with the swing hi low and Bollinger bands.



I am unable to share my study set as I'm using TOS paper but this is what I have (I found a script to fill BB online)

 
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awienen

New member
VIP
Hi,

Can anyone help me step us this scanner? I want to scan for reversals on the 1hr chart for stocks (what market cap would be best?).

http://tos.mx/vlVadom
I figured out the scanner but its not that useful in options trading.

Is there a way to set alerts for reversal appearing for each time frame?

Also how can i make the scanner more efficient?
 
BenTen

BenTen

Administrative
Staff
VIP
@awienen This indicator will repaint, so it's lagging behind a few candles when you're using it with the scanner. I don't see how you can make it more efficient.
 
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awienen

New member
VIP
@awienen This indicator will repaint, so it's lagging behind a few candles when you're using it with the scanner. I don't see how you can make it more efficient.
Is there a better way to plot the reversal so that we get better entries?
 
A

awienen

New member
VIP
the reversal only stays after another candle following it made sometimes they are fake signals. How can we limit the false signals?
 

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