YungTrader's Ultimate Indicator

[YungTraderFromMontana]

It would be different settings, try 6 on the lookback and 20 on both buyentry and sellentry.

 

[akykn]

thank you so much that helped. Also do you use else indi to confirm your thread or only scan this and go for it?

 

[YungTraderFromMontana]

Use your own intuitive analysis as well, make sure that the signal isn't because of a huge gap unless your confident.

 

[akykn]

thank you so much

 

[Thomas]

It would be different settings, try 6 on the lookback and 20 on both buyentry and sellentry.

I am playing with this nice set up,.....mainly the goldenarrows are settings I cannot figure out a setting that would take advantage of the
buy signal at the bottom "V," that sweet spot,......ohterwise it's me reading price and using my judgement. The scan has great names, only problem is I cannot have it day, week, the scan throws an error, so the time frames have to be the same???? The buy point is what I would consider overbought and I would be cautious. Wouldn't you agree it appears toppy...would have much liked it at the bottom "V" and my dreaded "Volstop," tell me when red turns to green look for an entry or wait for a pullback to initial red dots,.....as the set up shows in center of picture pinkalert, blue arrow, but I like the chart. The blue dash line in upper right is a "Hull," entry, and price is bouncing on greendot, the stop, so this entry would be considered with a break above like you see, but the indicator below tells me,....it's topped out although a pink candle hasn't arrived.

 

[Thomas]

Yung,....here's another chart shot, there are a couple scripts here and your chart,...but you can clearly see with my notes the entries, which I have to find with elbow grease, but your scan has many symbols I am aware of already. I shared my scan of the top of the top momo......if you are interested in adjusting the scan to find my markings, WOW,..now you are talking. BTW, the "Another entry" comes from a pullback after reddots, turn green and then price pulls back to the original greendots........the pink and cyan candles give me a heads up....and I would place entries off the bodies of those candles only. The dotted line above with the red dots attached is price line and a squeeze signal.......Maybe with this chart is subscribes to the theory, A successful momentum burst will lead to immediate follow through. Say a stock breaks out in the morning, it will continue to go up through the day and will have immediate follow through in next 2 to 3 days. And the follow through should also be of big 4 to 5% plus magnitude on second or third day.

 

[Billions]

Yung,....here's another chart shot, there are a couple scripts here and your chart,...but you can clearly see with my notes the entries, which I have to find with elbow grease, but your scan has many symbols I am aware of already. I shared my scan of the top of the top momo......if you are interested in adjusting the scan to find my markings, WOW,..now you are talking. BTW, the "Another entry" comes from a pullback after reddots, turn green and then price pulls back to the original greendots........the pink and cyan candles give me a heads up....and I would place entries off the bodies of those candles only. The dotted line above with the red dots attached is price line and a squeeze signal.......Maybe with this chart is subscribes to the theory, A successful momentum burst will lead to immediate follow through. Say a stock breaks out in the morning, it will continue to go up through the day and will have immediate follow through in next 2 to 3 days. And the follow through should also be of big 4 to 5% plus magnitude on second or third day.

can you share this so I can follow and test

 

[Thomas]

YUNG,......your bottom indicator is displayed,......and upper,......https://tos.mx/z7qLyU9

 

[akykn]

It would be different settings, try 6 on the lookback and 20 on both buyentry and sellentry.

Im currently in positions which I had signals for ALXN,ILMN and COG using settings 8, sell/buy entry 40. So far Im satisfied with settings and indi they all green, I will be testing the rest of the week as well with current settings. TYhank you

 

[Thomas]

Yung,.....how is this interpreted for you......using the 6, lookback week, option/ex,.....is this what is looked for......

 

[YungTraderFromMontana]

Yes that looks solid, I usually look for a truedepth roc squeeze also but by no means is it necessary. Give me the ticker and I can add some to this response.

 

[YungTraderFromMontana]

Yung,....here's another chart shot, there are a couple scripts here and your chart,...but you can clearly see with my notes the entries, which I have to find with elbow grease, but your scan has many symbols I am aware of already. I shared my scan of the top of the top momo......if you are interested in adjusting the scan to find my markings, WOW,..now you are talking. BTW, the "Another entry" comes from a pullback after reddots, turn green and then price pulls back to the original greendots........the pink and cyan candles give me a heads up....and I would place entries off the bodies of those candles only. The dotted line above with the red dots attached is price line and a squeeze signal.......Maybe with this chart is subscribes to the theory, A successful momentum burst will lead to immediate follow through. Say a stock breaks out in the morning, it will continue to go up through the day and will have immediate follow through in next 2 to 3 days. And the follow through should also be of big 4 to 5% plus magnitude on second or third day.

I'm working on more signals that have to do with support and resistance bounces instead of breakouts. I just have to make sure that they are high percentage, I don't want to dilute the indicator with 100's of arrows. it also makes the scan less valuable because hundreds of stocks will be scanned instead of 10+.

 

[Thomas]

Yes that looks solid, I usually look for a truedepth roc squeeze also but by no means is it necessary. Give me the ticker and I can add some to this response.

The ticker was SWN,....an example of your set up would be good demonstration of what you look for? Took COG, but extended in my opinion,....was another oil play from the opening....

 

[Thomas]

Yes that looks solid, I usually look for a truedepth roc squeeze also but by no means is it necessary. Give me the ticker and I can add some to this response.

Another set up I'm gonna add too....

 

[YungTraderFromMontana]

Be wary of the second set up, roc is declining so that hints at weakness. I'm going to release a second version tonight that's super selective but highly accurate. It should only scan up like 10 stocks a day but solid picks.

 

[Thomas]

Be wary of the second set up, roc is declining so that hints at weakness. I'm going to release a second version tonight that's super selective but highly accurate. It should only scan up like 10 stocks a day but solid picks.

I wanted your opinion on that ROC signal. I thought the signal was not good as it was turning down, and the stock was extended, but played it for a second up day...maybe stupid me...but the read of the signal was,...correct. Look forward to testing something else.....my scan, beefed up with strong momo filter,.......https://tos.mx/SU2XMou

 

[Bhai]

how do i use these studies in scan ? any reference will be appreciated.

 

[Gildes]

Yung,....here's another chart shot, there are a couple scripts here and your chart,...but you can clearly see with my notes the entries, which I have to find with elbow grease, but your scan has many symbols I am aware of already. I shared my scan of the top of the top momo......if you are interested in adjusting the scan to find my markings, WOW,..now you are talking. BTW, the "Another entry" comes from a pullback after reddots, turn green and then price pulls back to the original greendots........the pink and cyan candles give me a heads up....and I would place entries off the bodies of those candles only. The dotted line above with the red dots attached is price line and a squeeze signal.......Maybe with this chart is subscribes to the theory, A successful momentum burst will lead to immediate follow through. Say a stock breaks out in the morning, it will continue to go up through the day and will have immediate follow through in next 2 to 3 days. And the follow through should also be of big 4 to 5% plus magnitude on second or third day.

Hi, what is your Timeframe on this picture ?

 

[nhp]

Hey, YungTraderFromMontana I have copied and pasted the code into my study in my indicators, I am fairly new to think script but what are double yellow arrows mean compared to one yellow arrow? I get the support and resistance on the graph but these golden arrows show signals I'm assuming of buy even after a run not sure please explain thanks.

 

[Jay007]

This indicator repaints, any advice on filtering bad signals?