True Momentum Oscillator for ThinkorSwim

YungTraderFromMontana

YungTraderFromMontana

Active member
@YungTraderFromMontana I use this indicator...IF you are using a higher aggregation for example...You are using a 5 min chart but you have your TMO set to 30 min...Then the MAIN and SIGNAL will repaint on TMO indicator when you're looking on a 5 min chart...the last 6 bars will change color...This makes it hard to check your strategy after the market closes and the charts aren't live because of the repaint on higher aggregation. I hope that helps.
This actually doesn't apply because instead of waiting you can use the previous bars color.
 
markos

markos

Well-known member
VIP
Thanks markos
@horserider I appreciate your help and backup you provide, you are indeed welcome! I also appreciate that you have pointed out where I have been wrong in the past. We're happy to have you.
 
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HighBredCloud

Active member
This actually doesn't apply because instead of waiting you can use the previous bars color.
@YungTraderFromMontana IF you're using ANY kind of a SuperTrend such as the CSA @diazlaz is working on you will not be able to tell the previous bar's color unless you set something up that tells you where each bar closed. It makes backtesting by looking at charts useless when doing so during non market hours. That is why personally I don't like to set the higher aggregation too far off from the original timeframe...

On a 3m chart I use a 5 min aggregation. On a 5 min I use a 10 min agg...on a 15 min I use a 20 min. This eliminates the fake outs for the most part that you'll experience during a choppy market. I also use other indicators to confirm entries and exits with the TMO.

I combined the TMO with other trending indicators such as Trend Magic, Heikin Ashi Trend, and SuperTrend by Mobius. As in the pic below...the lower section indicates the current time frame...while the upper section indicates the higher aggregation of the indicators I mentioned above to correspond with the same TMO aggregation. I find such a set up useful for my style trading.

 
YungTraderFromMontana

YungTraderFromMontana

Active member
What is a good pairing with the TMO? Any ideas?
 
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humanz27

New member
Hey YungTraderFromMontana - Thank you for sharing - can you describe a little what it is supposed to do so it can be validated please. thank you!
 
YungTraderFromMontana

YungTraderFromMontana

Active member
Hey YungTraderFromMontana - Thank you for sharing - can you describe a little what it is supposed to do so it can be validated please. thank you!
It uses the tmo to determine a good swing entry after a selloff. It works best on long term uptrending stocks and I would avoid diluted messes that have gone down for the last 5 years.
Here is an example of a stock that popped up on the scan that also shows strong momentum on the multi agg tmo. Use the scan to narrow down the playing field and then the lower study I posted to capture the best of the best.
http://tos.mx/LzZDvEr
 
YungTraderFromMontana

YungTraderFromMontana

Active member
@BenTen grouping anything that has any relation with one indicators thread kills threads before they can even start. I just don't get it. Why don't you group the 5+ hull indicator threads into 1, or 5+ macd threads into 1, or 5+ supertrend threads into 1, or 5+RSI Laguere threads into 1, or the 5+ vwap threads into 1. Especially if you are going to do it to me every single time? Why is it that when I post anything that uses any aspect of the TMO it gets shot into this dead thread within minutes even if it is only one factor of the scan. It's plain and simple killing any responses and suggestions that I could've gotten and used to improve the scan. I'm frankly done with this site, I will always thank this place for sparking my interest in scripts, giving me access to game changing indicators, and being a big factor in me becoming a millionaire and therefore being able to pay for my Mom's cancer treatment. But frankly I already have a strategy that works for me and at this point I'm just trying to make slight improvements to it while also giving back to the community for all its done for me. From now on though I may check in every week or two to see if anything valuable comes up but I will never post anything here or attempt to contribute again.
 
BenTen

BenTen

Administrative
Staff
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@YungTraderFromMontana Your original thread contains exactly a link and five words in it. No context of what the scanner is about. The best I can do is move it here since it's related to the TMO indicator. I occasionally move threads around, especially threads for their lack of content and details. So don't take it personal if I'm moving your threads.
 
horserider

horserider

Well-known member
VIP
@YungTraderFromMontana Sorry if you need to leave. Sounds like you have your trading plan. Stick to it, refine it. Best of luck to make enough to help your Mom. I commend you for taking care of your Mom. Best wishes to your Mom to return to good health.
 
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HighBredCloud

Active member
@YungTraderFromMontana don't things so personally...At least you haven't been "blacklisted" for sharing your ideas. There's always going to be somebody out there who finds what you do an asset and regardless where your posts end up will find your work by using the search button. Perhaps you should take what @BenTen said more of an encouragement to add more content to your posts so that its different than other posts relating to the topic.

Here's my take on all of this...Everyone on this forum takes time away from their free time/family time...So anyone who is active on here regardless of your skill or contribution to the community should be recognized as so...I've read most of your threads and I personally think that you have some great ideas that would become even greater IF you would collaborate your work with one of the top coders on this site to come up with something truly unique. Reach out to some of them...and pick someone with an open mind to work with you. But I understand your decision...attend to family priorities first. I can relate what you wrote about your mother as I've dealt with the same situation as you. Its a hard spot to be in...that's for sure.
 
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Thomas

Member
This is a nice chart, clearly seeing the trend, but TMO has to be clearly defined and its interpretive like RSI/Laguerre. Try a second TMO, change to one color, and have the time frame setting higher, just to confuse you more.
 
switchfire

switchfire

Member
Hello, noob question here. I want to understand more about how TMO works. What does it mean exactly by Delta? I'm used to the options greek definition of delta. I'm kind of guessing this means "the change of price". Thanks for any knowledge!
 
BenTen

BenTen

Administrative
Staff
VIP
@switchfire I don’t think the term delta being used here is related to the option greeks.
 
horserider

horserider

Well-known member
VIP
Delta refers to change in mathematical calculations. In some cases, this means a difference between two values, such as two points on a line. In other cases, it refers to the rate of change, such as in a derivative. So yes a change in price.
 
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Thomas

Member
Hello, noob question here. I want to understand more about how TMO works. What does it mean exactly by Delta? I'm used to the options greek definition of delta. I'm kind of guessing this means "the change of price". Thanks for any knowledge!
Delta is the amount an option price is expected to move based on a $1 change in the underlying stock, Calls
 

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