@diazlaz Darn TMO I am dumping it. Those oscillator swings from top to bottom are too extreme.
Yeah it was a BIG trending day today; every top was superseded, paper cut over 40 trades today, no mean reverting today. it happens. don't give up on it, things will settle down, and a combination of non trending days will mean revert the market.@diazlaz Darn TMO I am dumping it. Those oscillator swings from top to bottom are too extreme.
I created an upper indicator that shows a dot on the candles that are over and under 5. This shows me times when I should look for a reversal. if the price doesn't reverse past that candle, then price should continue towards the trend. Below is the UPPER indicator.I like the 3 min timeframe. I like trading futures.
Try 6,3,2 setting.@markos I like to play with shorter times. TMO is a great indicator just not working for me at this time. Probably will keep experimenting with it in the future. I have configured the stochastic and RSI to give the same phase changes but without the big oscillation. So will continue with one of those. Thanks for all your contributions here. Just was venting earlier as TMO signaled to exit a trade and then it continued higher. Oh well. Learn and move forward.
The RSI_Rands indicator looks like it could be quite helpful.Here is why I am not going to use TMO for now anyway. Can get equivalent signals and less oscillation.
Will be happy to look at any tweaks. Always interested in varied ideas.
I created an upper indicator that shows a dot on the candles that are over and under 5. This shows me times when I should look for a reversal. if the price doesn't reverse past that candle, then price should continue towards the trend. Below is the UPPER indicator.
# TMO ((T)rue (M)omentum (O)scilator)
#hint: TMO calculates momentum using the delta of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.
input length = 6;
input calcLength = 3;
input smoothLength = 2;
def o = open;
def c = close;
def data = fold i = 0 to length
do s + (if c > GetValue(o, i)
else if c < GetValue(o, i)
then - 1
def EMA5 = ExpAverage(data, calcLength);
DEF Main = ExpAverage(EMA5, smoothLength);
#plot Signal = ExpAverage(Main, smoothLength);
#plot zero = if isNaN(c) then double.nan else 0;
#plot ob = if isNaN(c) then double.nan else round(length * .8);
#plot os = if isNaN(c) then double.nan else -round(length * .8);
plot sell = if main is greater than 5 then 1 else 0;
plot buy = if main is less than -5 then 1 else 0;
I actually really like how you slowed down the TMO, it gave a very clear sell signal on the third day from the left, about halfway through the day and a bit later when the green turned to red. Clearer to me than the other two indicators. I may try that setting. Thanks!Ok good plan. I would rather just have the smoother plots. Can do it on TMO also, check post #108. All momentum studies so choose what works best. I just prefer RSI then Stochastic or MACD over TMO. There is a MTF RSI on here somewhere, think I added it.
@markos What is the reason behind your question? Is it that you want to display the last 3 days on the daily chart when TMO changed polarity? I am not sure how this particular scan works...but does it ONLY show the first day of the polarity change on the daily chart and no longer pulls up stocks that had polarity change more than a day ago...? Because if that is the case where the scanner would pull up the last 3 days of the polarity change on the daily chart that would be great...@tomsk I trust vacation was good. Thank you for helping with @tenacity11 's question.
I have one for you. How do I set the scan up for polarity change within last three days as well as within the last 3 periods with all 3 periods past the crossing? Use another input? Thanks Markos
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