Trust The Levels - Trade Options In ThinkOrSwim

[VRaju]

I do not favor one way or the other. I trade with the market as a whole. I will look for ES, NQ, QQQ to moving in the same direction and especially if they break and retest or reject a major S/R level. I typically get at the money unless the price is super low, then I may buy more in the money. After using the volatility trailing stop for a bit, I stopped using it. I will provide it later.

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

I see that reg channels plot correctly (as your screen shots) only if I use 2m 1d. Is the that the case?
but other charts you posted uses 2m/5 days. Do we have a setting that needs to adjusted?

Could you also please suggest how to enable 2nd dev (Yellow lines) levels. I tried with Multi-Day but not matching your charts.

 

[METAL]

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

I see that reg channels plot correctly (as your screen shots) only if I use 2m 1d. Is the that the case?
but other charts you posted uses 2m/5 days. Do we have a setting that needs to adjusted?

Could you also please suggest how to enable 2nd dev (Yellow lines) levels. I tried with Multi-Day but not matching your charts.

I simply use the multi day with deviations. I am not sure what isn't matching. Can you take a snapshot so I can compare. I am glad it worked for you.

 

[VRaju]

I simply use the multi day with deviations. I am not sure what isn't matching. Can you take a snapshot so I can compare. I am glad it worked for you.

Thank you very much for the response. I dont know what's causing it but when I remove price zoom, I could see the 2nd dev yellow lines. They are disappeared for SPY. Here are the screen shots

Appreciate all your help and contribution to this forum.
Thanks again for amazing strategy. Will watch and post results from this week.

 

[METAL]

Thank you very much for the response. I dont know what's causing it but when I remove price zoom, I could see the 2nd dev yellow lines. They are disappeared for SPY. Here are the screen shots

Appreciate all your help and contribution to this forum.
Thanks again for amazing strategy. Will watch and post results from this week.

I know what you are referring to. SPY has some issues with multi day. It seems to correct itself during live trading but is off sometimes when trying to review.

 

[METAL]

Another Banger of a DAY! I hope everyone is trying and using this.
SPY

META

GOOG

 

[VRaju]

Another Banger of a DAY! I hope everyone is trying and using this.
SPY
View attachment 21602

META
View attachment 21603
GOOG
View attachment 21604

Wow. Awesome. I was at work and could not trade. As you said, going thru charts, the strategy looked picture perfect

 

[Gv27347]

This is working SO Well
10 X 0.5 on SPY and 5X 0.8 on QQQ in 15 minutes from open today

 

[TapthatAsk]

This is working SO Well
10 X 0.5 on SPY and 5X 0.8 on QQQ in 15 minutes from open today

What timeframe are you trading on? I didn't have anything for Spy or QQQ at the open.

 

[METAL]

This is working SO Well
10 X 0.5 on SPY and 5X 0.8 on QQQ in 15 minutes from open today

That is awesome! Great job! I did well again as well. There were so many setups today. well every day really.

 

[METAL]

That is awesome! Great job! I did well again as well. There were so many setups today. well every day really.
View attachment 21624

View attachment 21625

View attachment 21627

The guy I trade with made around 8,000.00 today on the QQQ trade!

 

[METAL]

 

[Gv27347]

@METAL
Can't you stay in the trade as long as the first opposite direction candle does not close either above the 20 (for put) or below the 20 (for a call)?

 

[METAL]

@METAL
Can't you stay in the trade as long as the first opposite direction candle does not close either above the 20 (for put) or below the 20 (for a call)?

That is what I attempt to do but there are several variables that may alter that for me.
1) I see a market reversal/rejection of a major level.
2) SPX is too risky for me so I get out too soon all the time.
3) Stock may have reached my target level.
4) If I trade into the 200 (Only if there is a large gap to the 20) and the price reaches the 200.
5) I watch Profit too much! FOMO!
I try to scale out on most of the above and hold runners and if I get continuation, then I stay in. If I get a reversal, then I close out.
I also have found that it is really best to wait for a 2nd close above/below the 20 EMA If you truly want to get the most of a run. Of course this will reduce some profits. This is an individual traders decision.

 

[Drum Rocker]

View attachment 21628

Hi Metal,
First I want to thank you for sharing your strategy! I have began paper trading and it's looking really sound. I have a question about the dotted line price levels or support/resistance dashed lines. I use your shared link and I am not seeing those on my chart. Are they part of an indicator or are you doing those manually?
Thanks,
Eric

 

[METAL]

Hi Metal,
First I want to thank you for sharing your strategy! I have began paper trading and it's looking really sound. I have a question about the dotted line price levels or support/resistance dashed lines. I use your shared link and I am not seeing those on my chart. Are they part of an indicator or are you doing those manually?
Thanks,
Eric

I put them in manually every morning and after news in case the news changes things enough.

 

[Jessedmanuell]

Hello, how can I get the code? Thanks

 

[vvvThink]

I am new here. Can you please share the indicator name and the code.

 

[scottlery]

Is you indicator only available to paid subscribers?
When will you release the free version? TIA

 

[useThinkScript]

The Trust The Levels Grid is available to all members.
It contains several indicators. To import the grid follow the instructions below

Here is the grid link: https://tos.mx/psH8Wtm
Here is how to load grid links:
https://usethinkscript.com/threads/...ed-item-error-in-thinkorswim.5098/#post-57930

If the above workaround for importing shared links is not working for you; it means you are among the group for whom Schwab has not enabled shared links.
Schwab indicates everyone will have shared links enabled after the May 13 integration

@Jessedmanuell @vvvThink @scottlery

 

[METAL]

Is you indicator only available to paid subscribers?
When will you release the free version? TIA

I am new here. Can you please share the indicator name and the code.

I put links to both indicators in the 1st post