Youtube Video- can you make something like that?

[heramone]

Hello All,

I know that there many good software programmers here in the house. Can you or all of you (as a team) make something like this youtube video? I have been researching for a while to get the trend but unfortunately, I couldn't find anywhere. I think you guys can do it for us.

please watch this video and see if you/we can make a similar reversal for the room. It will be worth it. Thanks

 

[BenTen]

Would be helpful if you can give us a summary or takeaways of what you learned from that video. Also, if there was a concept mentioned, maybe try illustrating it on your chart and post screenshots.

 

[heramone]

OK, Ben, What I am saying that this guy has customized indicators for pullback or reversal trend. His customize indicator work very well and he makes money every day. I want you guys to look at the video and lets make one similar to that which at least give us 70% accuracy everyday regardless of market atmosphere. And it is a simple one strategy. Thanks

 

[tradegeek]

@heramone

I don't see any indicators or any mention of such indicators that you speak of from the video you posted. He's probably scanning stocks that fit certain criteria and playing gaps. It would be helpful to describe the strategy or the process that you want in an indicator. Or the very least, post a picture or video of the actual indicator.

 

[heramone]

@tradgeek - This guy is from True Trader . net . If you look at his few videos on youtube he basically talking reversal indicators. After all, he customized this indicator related to his customize scanning. You may be right, he probably scanning using certain criteria that fit largely with reversal pattern.

 

[ssara]

He is using MARKET profile to GET the levels for NEXT day - Not sure which priior days or weeks POC or Value High low he is using - He says its custom but based on Market profile if i can understand his free 1 hr demo he did.

 

[supplydemandzones]

His scanner is looking for sudden surges in price toward either the upper supply zone or the lower demand zone, which he has predetermined somehow before the trading day starts. He also does almost all of his trading in the first one hour of the trading day.

 

[supplydemandzones]

The supply and demand zones he is predetermining do NOT appear to be from some past resistance or support levels based on past share price peaks or troughs. I noticed one video was from 11/8/19 trade date so I went to that date on ThinkorSwim daily chart and looked back to see if his boundary values coincided with some past share price peak or trough (supply or demand zone), but there was only a past support (ie trough or demand zone) level way back in 2018... I doubt he was using that as the reason to pick his specific demand zone for his trading that day. There was nothing in the previous day which clue us into his predetermined zones for the current trading day either. The market profile (or volume profile like) indicator for the day appears close to the zones he is using. But not the same. Once we determine how the zones are predetermined, the rest of the trading style is pretty intuitive and easily comprehended from his videos. So anyone have a idea of how the zones are predetermined before the start of the trading day????

 

[supplydemandzones]

RE: his scanner: He is able to have scanner alert him to stocks which at the open are surging in one direction toward either zone boundary so that he has time to pull up the one minute chart and confirm there are no "bounces" (which you hear him expound upon as a necessary prerequisite before entering the zone boundary for him to place the opening position for a reversal in direction to be profitable).

 

[supplydemandzones]

RE: supply and demand zones. In his example trade with DIS on 11/8/19, the zones he marks are even above the prior days trading range. How did he get those zones??

 

[supplydemandzones]

@heramone I'm with you in trying to decipher how he predetermined the zones before the trading day starts. The rest of the trading tactics are pretty self explanatory from the videos. Do you think is it Market Profile (day) indicator?? See my other posts above..

 

[C4men]

I am VERY interested in this thread, and have watched a few of the recordings of the live trading sessions. Here's what I see happening:

• Almost every single stock he is watching/trading has one thing in common - earnings
• I went back and looked - most of the stocks had earnings report after-hours the day before or very early the day of
• Seems his scan pays special attention to stocks in that group that saw said earnings cause significant movement (up/down/both) prior to open

Then, right at the open, a couple things are in play -

• He is looking for an influx of buyers or sellers, RIGHT AT THE OPEN of the day's trading, always on a 1-minute chart
• Whether determined based on movement during closed hours or not, he is looking for huge volume couple with large price trend in a direction
• Once the buyers or sellers have "exhausted" themselves, he tries to catch the opposite position (reversal)
• What I cannot decipher from the video is if reversal is just some natural resistance point OR truly a Supply/Demand "zone/wall/whatever"

I can see the logic behind the strategy.

Scan stocks that had earnings (news moves price) after-hours/pre-market, wait for the inevitable rush right at the open to adjust/react to the news, and then play the bounce back at a defined reversal for nice gains and exit with all cash.

There should be a way to:
1) Scan stocks that had earnings reported after a trading day
2) Identify the % Change (or fluctuations?) between close and open
3) Alert direction (up or down) at open, with special attention to volume
4) Paint supply/demand zones or maybe reversals
5) Paint a buy (or sell) indicator when zone is hit

 

[supplydemandzones]

c4men, Thanks for the observation that the examples of his trades had EPS announcements. But he has examples of trades on other videos which were not near EPS dates.

 

[heramone]

I am in the same zone with you Supplydemandz ones. I don't know what is that? I think it may be Market Profile customize the software. Read this article for details about the market profile indicator.

Day Trading Strategies: Market Profile In Focus | Wealthy Day Trading

Learn how to use one of the #1 day trading strategies available to pros and retail traders. Market Profile method is a powerful strategy.

www.wealthydaytrading.com

 

[K_O_Trader]

@heramone is this what your looking for?

 

[heramone]

@K_O_Trader - Yes Sir, I believe this almost what I am looking for. Could you please give me scripts and rules (time frame) to use. After using I will let you know the result. Thank you so much.

 

[K_O_Trader]

I use a 4 hour aggregation period on a 1 minute chart but that's what works for me, play around with the other periods and let me know what you find/like

http://tos.mx/zjXPcci

 

[heramone]

Thans. This is another problem I could not use these type of TOS link. Every time I click it asks me to install TOS in which already I have open in my computer. Is there any other way I can get the script or advise how to use this link while you already have TOS open. Thanks

 

[K_O_Trader]

Let me know anything that you find interesting about it, I use a 1 min chart with a 4 hour aggregation period

# Average Price Movements
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/eHhGyI6R-CD-Average-Daily-Range-Zones-highs-and-lows-of-the-day/

input aggregationPeriod = AggregationPeriod.DAY;
def open = open(period = aggregationPeriod);
def high = high(period = aggregationPeriod);
def low = low(period = aggregationPeriod);
def dayrange = (high - low);

def r1 = dayrange[1];
def r2 = dayrange[2];
def r3 = dayrange[3];
def r4 = dayrange[4];
def r5 = dayrange[5];
def r6 = dayrange[6];
def r7 = dayrange[7];
def r8 = dayrange[8];
def r9 = dayrange[9];
def r10 = dayrange[10];

def adr_10 = (r1 + r2 + r3 + r4 + r5 + r6 + r7 + r8 + r9 + r10) / 10;
def adr_5 = (r1 + r2 + r3 + r4 + r5) / 5;

def hl1 = (OPEN + (adr_10 / 2));
def ll1 = (OPEN - (adr_10 / 2));
def hl2 = (OPEN + (adr_5 / 2));
def ll2 = (OPEN - (adr_5 / 2));

plot h1 = hl1;
plot l1 = ll1;
plot h2 = hl2;
plot l2 = ll2;

addCloud(h1, h2, color.RED, color.RED);
addCloud(l1, l2, color.GREEN, color.GREEN);

h1.SetDefaultColor(Color.dark_red);
h2.SetDefaultColor(Color.dark_red);
l1.SetDefaultColor(Color.dark_green);
l2.SetDefaultColor(Color.dark_green);

 

[supplydemandzones]

K.O Trader, much respect to you!! Thanks for sharing the code too! The other component that we are looking for is the SCAN to find surging stocks in the first few minutes of opening of regular trading day toward either of the two "zones". There are too many stocks to search individually in the beginning of the trading day to do this manually. Is it possible to have a SCAN to bring to the forefront these surging stocks in the very start of the trading day???