What is everyones favorite Upper and Lower indicators that they use together and what time frames do you use?

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AngryBeavers

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Hi, just curious what everyones favorite Upper and Lower indicators that they use together on a chart and what time frames do you prefer with those indicators?
Day trader, swing trader or long term trader?
Also do you prefer manually drawing your own support and resistance or using fibonacci retracements?
And lastly what simple or exponential moving averages do you prefer on your charts?
Thank you.
 
OK. I'll go. :cool:

I've been grooving on linear regression channels paired with the Aroon recently. But I'm trading futures contracts trying to scrape a few points here and there through the day when I am able. I can't afford the time to sit and watch all day. I also use Klinger a fair bit and have been watching the interactions between it and the slow stochastic.

Just what I've been working with this year.

-mashume
 

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i've given up on trend trading and switched to mean reversion, mostly only buying on -1800 or worse adv-dec days, with price falling outside a lower keltner band set to 3, with RSI (5) well under 30 and, with luck, RSI (14) under 30 as well. i'd tell you my success rate with 22 real-money trades (albeit tiny amounts) was 95% but no one would believe me. Even if they did, it all happened in 2021 and in 2022 -- well, i have 6 open trades right now, with positions down anywhere from -5% to -15% and me looking to exit at break even, if i can. otherwise, i'll prolly just become a longterm bag holder lol. i don't use stops, mental or otherwise. i only look at daily charts, and i'm only trading 2x and 3x leveraged ETFs.
long story short: in 2021: 95% successful trades. in 2022, including a few closed ones and the ones still open: maybe 15% successful.
 
Hi, just curious what everyones favorite Upper and Lower indicators that they use together on a chart and what time frames do you prefer with those indicators?
Day trader, swing trader or long term trader?
Also do you prefer manually drawing your own support and resistance or using fibonacci retracements?
And lastly what simple or exponential moving averages do you prefer on your charts?
Thank you.
Robert Payne the Edge. For upper. Code is below:

Code:
# (1) Trend Signal -- UP or DN
# The short-term trend is based upon the 8 period moving average in accordance with "The Market Maker's Edge". If the current stock price is above the 8MA, then the trend is up and UP will be displayed in green. If the current stock price is below the 8MA, then the trend is down and DN will be displayed in red.

# (2) Net Signal -- NS
# The net change in stock price. If the current price is greater than yesterday's closing price, then NS will be displayed in green. If the current price is less than yesterday's close, then NS will be displayed in red.

# (3) Open Signal -- OS
# The dominant direction of today's movement. If the current price is greater than today's opening price, then OS will be displayed in green. If the current price is less than today's opening price, then OS will be displayed in red.

# (4) High / Low Signal -- H/L
# This shows daily momentum by determining whether the stock is trading above or below yesterday's high or low price. If the current price is above yesterday's high, then H/L will be displayed in green. If the current price is below yesterday's low, then H/L will be displayed in red. If the current price is between yesterday's high and low, then H/L will be displayed in gray.

# (5) Out of Bounds
# This only displays when the stock is outside of the bollinger bands. For example, in the second image above, it may be seen that NFLX is $1.82 outside of the top bollinger band on the 55 min chart and $1.43 outside of the top bollinger band on the 34 min chart. The price will be displayed in white.

# This code may be applied to any chart Daily and below. For me, I like to have all the indicators in agreement across the 55, 34, 21, and 13. It is nice if the 233 and Daily agree, but is not necessary for me.
#The Edge
#Robert Payne

#Plot 8 period moving average
plot MA8 = Average(close, 8);
MA8.SetDefaultColor(Color.YELLOW);
MA8.SetLineWeight(2);

#Trend Signal
def TrendUp = if close > MA8 then 1 else Double.NaN;
def TrendDn = if close < MA8 then 1 else Double.NaN;
AddLabel(TrendUp, "UP", Color.GREEN);
AddLabel(TrendDn, "DN", Color.RED);

#Net Signal
def NSup = if close - close(period = "day" )[1] > 0 then 1 else Double.NaN;
def NSdn = if close - close(period = "day" )[1] <= 0 then 1 else Double.NaN;
AddLabel(NSup, "NS", Color.GREEN);
AddLabel(NSdn, "NS", Color.RED);

#Open Signal
def OSup = if close - open(period = "day" ) > 0 then 1 else Double.NaN;
def OSdn = if close - open(period = "day" ) < 0 then 1 else Double.NaN;
AddLabel(OSup, "OS", Color.GREEN);
AddLabel(OSdn, "OS", Color.RED);

#High / Low Signal
def Higher = if close > high(period = "day" )[1] then 1 else Double.NaN;
def Lower = if close < low(period = "day" )[1] then 1 else Double.NaN;
def Neutral = if close <= high(period="day" )[1] and close >= low(period="day" )[1] then 1 else Double.NaN;
AddLabel(Higher, "H/L", Color.GREEN);
AddLabel(Lower, "H/L", Color.RED);
AddLabel(Neutral, "H/L", Color.GRAY);

#Out of Bounds
def sDev = StDev(close, 21);
def MidLine = Average(close, 21);
def UpperBand = MidLine + 2 * sDev;
def LowerBand = MidLine - 2 * sDev;
def CloseAbove = if close > UpperBand then 1 else Double.NaN;
def CloseBelow = if close < LowerBand then 1 else Double.NaN;
AddLabel(CloseAbove, round(close - UpperBand,2), Color.WHITE);
AddLabel(CloseBelow, round(close - LowerBand,2), Color.WHITE);
 
Last edited by a moderator:
Hi, just curious what everyones favorite Upper and Lower indicators that they use together on a chart and what time frames do you prefer with those indicators?
Day trader, swing trader or long term trader?
Also do you prefer manually drawing your own support and resistance or using fibonacci retracements?
And lastly what simple or exponential moving averages do you prefer on your charts?
Thank you.
I use the 5 and 20 period EMAs (or SMAs, doesn't really matter which type although I like EMAs better), taking longs when 5 is above the 20 and short trades when below. It's a universal method, works the same on any timeframe - day, swing, or long term. I usually don't like drawing anything as it clutters the chart and creates confusion - I try to keep everything simple and minimal.

emas-2.png
 
I use the 5 and 20 period EMAs (or SMAs, doesn't really matter which type although I like EMAs better), taking longs when 5 is above the 20 and short trades when below. It's a universal method, works the same on any timeframe - day, swing, or long term. I usually don't like drawing anything as it clutters the chart and creates confusion - I try to keep everything simple and minimal.

emas-2.png
A lot to be said for simplicity in both charting and strategy. Nice.
 
Robert Payne the Edge. For upper. Code is below:

# (1) Trend Signal -- UP or DN
# The short-term trend is based upon the 8 period moving average in accordance with "The Market Maker's Edge". If the current stock price is above the 8MA, then the trend is up and UP will be displayed in green. If the current stock price is below the 8MA, then the trend is down and DN will be displayed in red.

# (2) Net Signal -- NS
# The net change in stock price. If the current price is greater than yesterday's closing price, then NS will be displayed in green. If the current price is less than yesterday's close, then NS will be displayed in red.

# (3) Open Signal -- OS
# The dominant direction of today's movement. If the current price is greater than today's opening price, then OS will be displayed in green. If the current price is less than today's opening price, then OS will be displayed in red.

# (4) High / Low Signal -- H/L
# This shows daily momentum by determining whether the stock is trading above or below yesterday's high or low price. If the current price is above yesterday's high, then H/L will be displayed in green. If the current price is below yesterday's low, then H/L will be displayed in red. If the current price is between yesterday's high and low, then H/L will be displayed in gray.

# (5) Out of Bounds
# This only displays when the stock is outside of the bollinger bands. For example, in the second image above, it may be seen that NFLX is $1.82 outside of the top bollinger band on the 55 min chart and $1.43 outside of the top bollinger band on the 34 min chart. The price will be displayed in white.

# This code may be applied to any chart Daily and below. For me, I like to have all the indicators in agreement across the 55, 34, 21, and 13. It is nice if the 233 and Daily agree, but is not necessary for me.
#The Edge
#Robert Payne

#Plot 8 period moving average
plot MA8 = Average(close, 8);
MA8.SetDefaultColor(Color.YELLOW);
MA8.SetLineWeight(2);

#Trend Signal
def TrendUp = if close > MA8 then 1 else Double.NaN;
def TrendDn = if close < MA8 then 1 else Double.NaN;
AddLabel(TrendUp, "UP", Color.GREEN);
AddLabel(TrendDn, "DN", Color.RED);

#Net Signal
def NSup = if close - close(period = "day" )[1] > 0 then 1 else Double.NaN;
def NSdn = if close - close(period = "day" )[1] <= 0 then 1 else Double.NaN;
AddLabel(NSup, "NS", Color.GREEN);
AddLabel(NSdn, "NS", Color.RED);

#Open Signal
def OSup = if close - open(period = "day" ) > 0 then 1 else Double.NaN;
def OSdn = if close - open(period = "day" ) < 0 then 1 else Double.NaN;
AddLabel(OSup, "OS", Color.GREEN);
AddLabel(OSdn, "OS", Color.RED);

#High / Low Signal
def Higher = if close > high(period = "day" )[1] then 1 else Double.NaN;
def Lower = if close < low(period = "day" )[1] then 1 else Double.NaN;
def Neutral = if close <= high(period="day" )[1] and close >= low(period="day" )[1] then 1 else Double.NaN;
AddLabel(Higher, "H/L", Color.GREEN);
AddLabel(Lower, "H/L", Color.RED);
AddLabel(Neutral, "H/L", Color.GRAY);

#Out of Bounds
def sDev = StDev(close, 21);
def MidLine = Average(close, 21);
def UpperBand = MidLine + 2 * sDev;
def LowerBand = MidLine - 2 * sDev;
def CloseAbove = if close > UpperBand then 1 else Double.NaN;
def CloseBelow = if close < LowerBand then 1 else Double.NaN;
AddLabel(CloseAbove, round(close - UpperBand,2), Color.WHITE);
AddLabel(CloseBelow, round(close - LowerBand,2), Color.WHITE);
Thanks for posting Useful but Simple indicators. One that I like is PSARs Alert
https://usethinkscript.com/threads/...charts-for-thinkorswim.515/page-3#post-121797
 
Last edited by a moderator:
OK. I'll go. :cool:

I've been grooving on linear regression channels paired with the Aroon recently. But I'm trading futures contracts trying to scrape a few points here and there through the day when I am able. I can't afford the time to sit and watch all day. I also use Klinger a fair bit and have been watching the interactions between it and the slow stochastic.

Just what I've been working with this year.

-mashume
I have been watching some of these interactions after you mentioned it. Are you using the double trigger? Klinger flips bearish and slow stoch cross down triggers a short for me.
 
Hi MerryDay, I'm not sure if this was the post but you had a list of a few of your favorite indicators can you point me towards that post. Thank you
 
Hi MerryDay, I'm not sure if this was the post but you had a list of a few of your favorite indicators can you point me towards that post. Thank you
I moved your question to this thread, of member's favorites.

I do have favorite VOLUME indicators:
https://usethinkscript.com/threads/favorite-volume-indicators-in-thinkorswim.15694/

Here are some other 'favorite' type lists on the forum:
https://usethinkscript.com/threads/...ogether-and-what-time-frames-do-you-use.9868/
https://usethinkscript.com/threads/a-serving-of-trend-and-momentum-indicators-for-thinkorswim.4880/
https://usethinkscript.com/threads/what-are-your-favorite-1-minute-chart-indicators.4135/
https://usethinkscript.com/threads/...indicators-tutorials-on-usethinkscript.14566/
https://usethinkscript.com/threads/best-day-trading-strategy-indicators-for-thinkorswim.2016/
https://usethinkscript.com/threads/best-futures-indicators-in-thinkorswim.13404/
https://usethinkscript.com/threads/best-option-strategies-for-thinkorswim.7393/

A search of the forum did not find that I used the words "my favorite" in any thread except the above volume link. There are 4 basic types of indicators, I find them interchangeable, and tend to not subscribe to one over the other.
 
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Hi MerryDay, just wondering if you were able to think about some of your favorite indicators. Thank you.


Actually, I just posted some new ones in the VIP forum:
https://usethinkscript.com/threads/creating-a-corral-of-high-value-stocks.17712/
https://usethinkscript.com/threads/stock-momentum-vs-the-market.17706/
https://usethinkscript.com/threads/relative-strength-ranking.15999/page-2#post-136823
https://usethinkscript.com/threads/the-vip-version-of-a-trading-stoplight.17707/
https://usethinkscript.com/threads/basics-for-developing-a-good-strategy.8058/#post-136125
https://usethinkscript.com/threads/adaptive-qstick-laguerre.17010/
https://usethinkscript.com/threads/vip-trading-range-based-on-fibonacci-averages.17024/
https://usethinkscript.com/threads/rsi-laguerre-histogram.16363/
https://usethinkscript.com/threads/volume-tape-reader.16118/
https://usethinkscript.com/threads/volume-price-trends.16117/
https://usethinkscript.com/threads/what-weights-to-assign-to-your-buy-decisions.16013/
https://usethinkscript.com/threads/relative-strength-ranking.15999/
along with some non-ToS essential tools:
https://usethinkscript.com/threads/complimentary-tools-to-the-thinkorswim-app.17705/

Use the above with any oscillator, moving average, trend/momentum indicators to increase the profitability of your trades.

Not sure which oscillator, moving average, trend/momentum indicator to use along with your VIP tools?
Here are some forum favorites to get you started:
https://usethinkscript.com/threads/a-serving-of-trend-and-momentum-indicators-for-thinkorswim.4880/
 
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