Try this NQ Strategy + Code for ThinkorSwim

[Kislayakanan]

Sorry for my late reply. Its a busy and extraordinary time at the moment.

Let me come back with a feedback from my side.
Using a 1m timeframe is far too fast for me personally and using only a EMA20 crossover to buy and sell is far too inconsistant for me.
But the idea to develop clear setup, that is easy to use, is great.

So I tried some things out and came over the "floating levels" from the member "Mladen
https://usethinkscript.com/threads/averages-with-floating-levels-for-thinkorswim.3526/
Its a great tool and I think its worth to dig deeper into it, although I use it in a slightly different way.

My settings:
NQ 3m chart (1m is too fast)
Floating Levels indicator, lenght 34, HL2
RSI50 with EMA200 (based on the RSI, not price)

Go Long:
Price crosses above the upper green line AND RSI is above its EMA

Go Short:
Price crosses below the lower red loine AND RSI is below its EMA

Contract size:
Enter with 2 Lots (thats crucial)
Exit 1 Lot with 10 points profit (and move SL for the 2. Lot to breakeven)
Most of the time 10 points are hit even in choppy markets.
Let the 2. Lot move in your direction with a 20 points trailing stop

Stoploss:
hard stop at the opposite line
Maybe the commuinity can improve the SL and profit levels

I attached 2 charts.
The first is a choppy chart.
Red rectangles are the short trades
Green rectangles are the long trades.
White rectangle: look how the RSI _MA protects from long trades.
The second is a trending chart.


1. chart:

2. chart:
There are also nice trending times.

Would be great to get a feedback.
Thanks.

Thank you for sharing this strategy. Are you still using this? Any changes have you made?

I wonder if anyone else has used his strategy?

 

[MerryDay]

I wonder if anyone else has used his strategy?

Did you know that clicking on a member's name will allow you to see when a member was last seen on the uTS forum? @samoya has not been seen in a while.

This is a simple 20ema moving average crossover strategy.
There are 10 pages of various flavors that members have tried.

There are another 11 pages in the moving average crossover thread:
https://usethinkscript.com/threads/moving-average-crossovers-for-thinkorswim.229/
And millions of results on the web.

 

[Wockets]

Is it possible to add orders to this to test this in strategies in TOS ?

 

[MerryDay]

Is it possible to add orders to this to test this in strategies in TOS ?

https://usethinkscript.com/threads/try-this-nq-strategy-code-for-thinkorswim.1958/page-4#post-45631

Have you seen this cool hack for finding this on your own:
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-58238

 

[Wockets]

https://usethinkscript.com/threads/try-this-nq-strategy-code-for-thinkorswim.1958/page-4#post-45631

Have you seen this cool hack for finding this on your own:
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-58238

Thank you Sir , I am today years old when I discovered that strategy can be used to backtest

 

[Wockets]

Trying to learn a bit more about this :

I realised that TOS's own thinkscript tutorial has something similar :

https://tlc.thinkorswim.com/center/...torials/Basic/Chapter-7---Creating-Strategies

The only difference is that they use simple moving average vs exponential moving average

#copied from TOS
input price = close;

input length = 20;

def avg = expAverage(price, length);

#copied from Threadstarter
plot myindicator=ExpAverage(close,20);
myindicator.SetDefaultColor(Color.White);
myindicator.AssignValueColor(if close>=myindicator then Color.blue else Color.wHITE);
#myindicator.SetStyle(curve.LONG_DASH);
#myindicator.SetPaintingStrategy(paintingstrategy.LINE_VS_SQUARES);
myindicator.SetLineWeight(3);

#copied from TOS
AddOrder(OrderType.BUY_AUTO, price crosses above avg, open[-1], 100, Color.YELLOW, Color.YELLOW, “Buy”);

AddOrder(OrderType.SELL_AUTO, price crosses below avg, open[-1], 100, Color.RED, Color.RED, “Sell”);

 

[Kislayakanan]

Trying to learn a bit more about this :

I realised that TOS's own thinkscript tutorial has something similar :

https://tlc.thinkorswim.com/center/...torials/Basic/Chapter-7---Creating-Strategies

The only difference is that they use simple moving average vs exponential moving average

#copied from TOS
input price = close;

input length = 20;

def avg = expAverage(price, length);

#copied from Threadstarter
plot myindicator=ExpAverage(close,20);
myindicator.SetDefaultColor(Color.White);
myindicator.AssignValueColor(if close>=myindicator then Color.blue else Color.wHITE);
#myindicator.SetStyle(curve.LONG_DASH);
#myindicator.SetPaintingStrategy(paintingstrategy.LINE_VS_SQUARES);
myindicator.SetLineWeight(3);

#copied from TOS
AddOrder(OrderType.BUY_AUTO, price crosses above avg, open[-1], 100, Color.YELLOW, Color.YELLOW, “Buy”);

AddOrder(OrderType.SELL_AUTO, price crosses below avg, open[-1], 100, Color.RED, Color.RED, “Sell”);

Do you think SMA is better than EMA?

 

[Wockets]

Do you think SMA is better than EMA?

The difference between the two is just that EMA reacts quicker to recent prices.

 

[basselwael]

New here, so I thought I’d post something everyone can use (who wants to).

I’m normally not a very big fan of lagging indicators but this is super easy to use and gives pretty high win ratios in these markets. Plus, it’s VERY easy to get the hang of it!

I had this created for me a while back (see code below).

You simply wait for a bar/candle to close below/above the line and take a breakout/breakdown 1 tick above/below (depending on direction) the prior candle. (see annotations in screenshot)

Been getting 20 to over 100 points (points NOT ticks!) per trade!!

I annotated this in the screenshot, but to reiterate… loss mitigation is entirely up to you. Some of these candles are 40-90+ points in a single minute. So, use caution on how tight you keep things. Let the market breathe and the strategy do its thing! You can use the opposite end of the prior candle you are trading your breakout/breakdown from to protect capital. Or you can pretty much do whatever is inline with your risk tolerance.

Profit taking is a bit different – at least for how I handle it. I set an initial profit target 100 points above my entry (because these markets are NUTS!!). I’ve had this hit many times in 30 minutes or less. Especially that last one which took about 5 minutes (see Wednesday March 19, 2020 at 2:46 Chicago time short entry price 7395.25).

I use this on the NQ with a 1-minute chart and that’s about it. Super fun and easy to see in real-time.

Here is the code:

plot myindicator=ExpAverage(close,20);
myindicator.SetDefaultColor(Color.White);
myindicator.AssignValueColor(if close>=myindicator then Color.Green else Color.Red);
myindicator.SetStyle(curve.LONG_DASH);
myindicator.SetPaintingStrategy(paintingstrategy.LINE_VS_SQUARES);
myindicator.SetLineWeight(5);
myindicator.setHiding(if close>open(period="DAY") then 0 else 1);

View attachment 6795

is there way I can have it change color red and green line on mobile app

 

[scott69]

When using moving average indicators, it is not so much which one (EMA or SMA) is mathematically "better" per se, it is more a matter of using that MA which other traders, algos, machines, systems or strategies use in making trading decisions. As an example, I have found that when trading the /NQ (NASDAQ 100 futures contract) that participants honor certain MAs on certain time frames VERY consistently. It is almost uncanny the way they work most of the time, which tells me how important they are to others. The other thing that has great success is how certain price levels are respected frequently. So, the key is to experiment, back-test and trade using different settings on different time frames and see which ones are consistently successful. Take the time to observe what is actually going on in the product you are trading. IMHO, Scott

 

[hogsfeathers]

thank you! I'm using this with 5 and 13 ema no candlesticks just the two ema lines strategy by UpTwoBucks
Moving Average Magic For ThinkOrSwim seems to work. Cannot wait to try this Mon.

 

[METAL]

thank you! I'm using this with 5 and 13 ema no candlesticks just the two ema lines strategy by UpTwoBucks
Moving Average Magic For ThinkOrSwim seems to work. Cannot wait to try this Mon.

Be careful as these are just moving averages. Depending on what and how much you are trading, you can lose a lot by the time the 5 and 13 cross. The NQ strat is a simple 20 moving average that changes colors. It is a decent strategy if you manage your risk.

 

[hogsfeathers]

Be careful as these are just moving averages. Depending on what and how much you are trading, you can lose a lot by the time the 5 and 13 cross. The NQ strat is a simple 20 moving average that changes colors. It is a decent strategy if you manage your risk.

thanks! for the reply! I will take notice of this and the 20 sma