Trust The Levels - Trade Options In ThinkOrSwim

[WEDenterprise]

I will put together a short video that explains how I use LRC.

Any progress on this video? Thank you!

 

[SleepyZ]

@SleepyZ , I hate to bother you but I have made several attempts and cannot get what I am trying to achieve to work. Is there a way to provide and option that will be "Show today only" and when unchecked, The script will show the LRCA (Linear Regression Channel Anchored) with Deviations on each day like I have indicated on the attached image? I do not show the addition deviation lines and would like them on this if possible. This is so I can go back and study previous days. View attachment 21347

I have not found a coding solution for your multi day display of the LR lines.

However, you could test the code for multiple days by using ONDEMAND.
Put the code you are using on a 1d 2m chart with the time perhaps paused at 1600.
Then switch the days back at the ONDEMAND calendar, leaving the time set at the paused time.

 

[METAL]

@METAL Video please and update daily profit and loss

Any progress on this video? Thank you!

Not yet. Been too busy. I will try to get to it this week.

 

[METAL]

Here is a link to the video.

 

[METAL]

@WEDenterprise @bkpshah I hope you used this today. Let me know if you did and how you did.

 

[METAL]

Todays LRC Strategy.

 

[stonkmartian]

can you share the latest grid/code? For some reason the shared links you provided are no longer working. I am seeing nothing on the chart.

 

[Arun85]

Todays LRC Strategy.

Hi,
How do you determine whether to take your trade off of Linear multi-day or Linear Reg Anchored when day trading? And for swing trading, which ones of the above do u recommend or is it both?
Thanks

 

[METAL]

Hi,
How do you determine whether to take your trade off of Linear multi-day or Linear Reg Anchored when day trading? And for swing trading, which ones of the above do u recommend or is it both?
Thanks

I do not use this to swing trade. I typically use the LRC anchored however, I have found that the Multi-Day with 2nd deviation works for several stocks. The way I have determined which to use, is to observe if the stock is respecting the levels. If it is respecting the 2nd deviation more for a particular stock, then I will use that information to place entries. It is pretty simple as you will know after a few days of observing. I used both together for a while.

 

[Arun85]

I do not use this to swing trade. I typically use the LRC anchored however, I have found that the Multi-Day with 2nd deviation works for several stocks. The way I have determined which to use, is to observe if the stock is respecting the levels. If it is respecting the 2nd deviation more for a particular stock, then I will use that information to place entries. It is pretty simple as you will know after a few days of observing. I used both together for a while.

Well explained and will check it out this week. Thanks

 

[VRaju]

I do not use this to swing trade. I typically use the LRC anchored however, I have found that the Multi-Day with 2nd deviation works for several stocks. The way I have determined which to use, is to observe if the stock is respecting the levels. If it is respecting the 2nd deviation more for a particular stock, then I will use that information to place entries. It is pretty simple as you will know after a few days of observing. I used both together for a while.

Just chanced upon on this thread. Looks very promising (especially last Friday with most of the stocks) with the Grid/Chart you shared. Will check it out this week

Thank you very much for sharing this strategy.

 

[HODL-Lay-HE-hoo!]

Nice @METAL!

 

[GARLAND122]

Todays LRC Strategy.

Metal, newbie here. Downloaded your screen, watched video etc. How to you draw your LRC anchored
channel. When I import yours (shared linear regression with time frames) it creates a line basically following candlestick chart.

 

[METAL]

Another BANGER of a DAY! I hope you guys are trying this strategy. So far I have been profitable every single day that I use it. Today could have been so much better, but I decided to reduce my size today because of how sideways the market has been. GOOG, TSLA, and META I also used it for SPX and ended the day very profitable.

 

[ygjmgugigiu0683]

@METAL why didn't you take spy/SPX calls at the touch of the lrc? I think the time was 10:18 EST? I took that trade and exited where you entered. Ty BTW stress free.

Edit: To clarify my tone I'm just wondering if my trade was too high risk in case of a breakdown. I was watching your setup for a few days until I tried it today for the first time. Thank you again it worked well.

 

[VRaju]

Another BANGER of a DAY! I hope you guys are trying this strategy. So far I have been profitable every single day that I use it. Today could have been so much better, but I decided to reduce my size today because of how sideways the market has been. GOOG, TSLA, and META I also used it for SPX and ended the day very profitable.
View attachment 21563

View attachment 21564

View attachment 21565
View attachment 21566

Thank you very much @METAL for the strategy. I tried with NVDA today and those were good scalping trades.

Sorry if I missed it but could you please let me know how to enable 2nd dev (Yellow lines) levels. I tried with Multi-Day but not matching your charts.

 

[METAL]

@METAL why didn't you take spy/SPX calls at the touch of the lrc? I think the time was 10:18 EST? I took that trade and exited where you entered. Ty BTW stress free.

Edit: To clarify my tone I'm just wondering if my trade was too high risk in case of a breakdown. I was watching your setup for a few days until I tried it today for the first time. Thank you again it worked well.

The main thing that may have kept me out of that trade is that I would have been trading into the 20 EMA and the 200 EMA. That doesn't typically end well for me.
The only bad thing I have found with this strategy is that I miss some that end up being way better than the one I entered. That is trading though. I believe I was in the META trade. In any case I hope you did well on that one. Would have been huge for SPX. Please let me know how you did when you have time.

 

[ygjmgugigiu0683]

The main thing that may have kept me out of that trade is that I would have been trading into the 20 EMA and the 200 EMA. That doesn't typically end well for me.
The only bad thing I have found with this strategy is that I miss some that end up being way better than the one I entered. That is trading though. I believe I was in the META trade. In any case I hope you did well on that one. Would have been huge for SPX. Please let me know how you did when you have time.
View attachment 21578

Gotcha! I took it but unfortunately got out where you entered. I'm just slowly trying to add this to my system. It's been going well though. I took puts at around 9:50EST today. Too bad it doesn't work premarket. Thank you again for sharing this

 

[METAL]

Gotcha! I took it but unfortunately got out where you entered. I'm just slowly trying to add this to my system. It's been going well though. I took puts at around 9:50EST today. Too bad it doesn't work premarket. Thank you again for sharing this

Did you trade spy at 9:50

 

[ygjmgugigiu0683]

Did you trade spy at 9:50

Yeah I did. It worked extremely well. I took profit at the rejection of the orange line and left runners for the breakdown.