YungTrader's Ultimate Indicator

[mashume]

Ya I got Physics, US History, and Micro Ec. I probably won't trade at all tomorrow or Friday either because I have tests on both days.

A few years back I taught AP Physics.

 

[ssanthan]

t I'd be able to tell you the general fe move

woke up late and forgot to post my list here but these were my picks before market open for options
up 90% on pm rn
down a bit on cf and 10% on KO
didnt play any of my longs cuz market strong and vix (plus ntes and azn had gap downs and showed 0 strength)

hi television.. how do you play shorts. Do you actually short the stock or buy puts. If buying puts do you do otm puts expiring in a week or longer timeframe.

 

[television]

hi television.. how do you play shorts. Do you actually short the stock or buy puts. If buying puts do you do otm puts expiring in a week or longer timeframe.

i use yungtrader's scanner to pick out stocks that look good for longs AND shorts (hedge out beta[market risk])
^i play shares on these and i put little money into each of them (set up oco brackets and forget ab em)
the beauty of this is it takes very little time on the screen aside from the 1 hour or so at night for building ur stock picks
this generates nice returns over a month (according to yung ~30% [im still gathering data myself ])
since school is out rn, i have a lot of time so i figured i would flip these options throughout the day since i know there will be a large move to the upside or down. these returns are often 100%+ so its a good skill to have if ur tryna build a small acc like i will be doing

i play these on large caps with weeklies
today i played pm the the shortside (90%)
i look for high open interest and volume
i dont have a set formula. i just eyeball it using the stonks atr and days till expiry. like if its a monday ill usually go the full atr of the stock out of the money. (i still make sure oi and volume is there) be sure to pay attention to psychological levels for the strikes. ex. tesla 700 750 800 tend to be more liquid and have tighter spreads then other strikes so ill play them
just make sure u dont pay a lot for the spreads (be extremely careful of payin more then 30% of the contract price on the spread)

 

[YungTraderFromMontana]

A few years back I taught AP Physics.

I'm not surprised you seem smart

 

[HSI1600]

Thanks for your reply but my chart does indeed show SR, I didn't remove those plots from the study.
1.40 target price with a stop loss of 1.60? Are you shorting? I'm confused. what price would be the entry

I'm only interested in long trades too btw.

@camitos - I only go long as well. Here is a snapshot of my grid. I use an anchor chart to signal a potential stock and the hourly for entry. Here is a long that I took today. Stock trading a $2.58 - based on L2 I took

a position at 2.28 with an OCO order - purchase 2.28 SL 1.58 with a target of 2.60 next resistance level.

 

[HSI1600]

lmao do u realize hannibal was carthaginian? nice cope

@television - Yea, Northern Africa. Changed to a sub-Saharan role model: Shaka Zulu

 

[camitos]

@camitos - I only go long as well. Here is a snapshot of my grid. I use an anchor chart to signal a potential stock and the hourly for entry. Here is a long that I took today. Stock trading a $2.58 - based on L2 I took

a position at 2.28 with an OCO order - purchase 2.28 SL 1.58 with a target of 2.60 next resistance level.

Hm okay, I still haven't learned the significance of L2 yet so I'm way behind. Thanks for explaining

 

[KKaiser]

Hm okay, I still haven't learned the significance of L2 yet so I'm way behind. Thanks for explaining

Hi @camitos Can you please share TOS link for your charts. Thank you.

 

[Prison Mike]

Hey,

Looked at this thread many times. Wasn't till looking over @YungTraderFromMontana code that I realized that have been using something similar. Although Yung's study is way cooler and sophisticated scanning using my study has shown a lot of the same results. Maybe these will help someone out.

What this indicator does is lookback X number of bars to find X high.


This one aggs the time so you can see daily line on intraday charts

input agg = AggregationPeriod.DAY;

def price = close(period = agg);
def hi = high(period = agg);
def lo = low(period = agg);



input highestInXBars = 10;
input lookBackBars = 10;
def highestInBarsBack = Highest(hi, highestInXBars);
def lastBar = !IsNaN(price) and IsNaN(price[-1]);
def targetHigh = if lastBar then highestInBarsBack[lookBackBars] else 0;
plot higherlevel = HighestAll(targetHigh);

input highestInXBars2 = 20;
input lookBackBars2 = 20;
def highestInBarsBack2 = Highest(hi, highestInXBars2);
def lastBar2 = !IsNaN(price) and IsNaN(price[-1]);
def targetHigh2 = if lastBar2 then highestInBarsBack[lookBackBars2] else 0;
plot highestlevel = HighestAll(targetHigh2);

input lowestInXBars = 10;
input lowlookBackBars = 10;
def lowestInBarsBack = Lowest(lo, lowestInXBars);
def lowlastBar = !IsNaN(price) and IsNaN(price[-1]);
def targetLow = if lowlastBar then lowestInBarsBack[lowlookBackBars] else Double.POSITIVE_INFINITY;
plot lowerlevel = LowestAll(targetLow);

input lowestInXBars1 = 20;
input lowlookBackBars1 = 20;
def lowestInBarsBack1 = Lowest(lo, lowestInXBars1);
def lowlastBar1 = !IsNaN(price) and IsNaN(price[-1]);
def targetLow1 = if lowlastBar1 then lowestInBarsBack1[lowlookBackBars1] else Double.POSITIVE_INFINITY;
plot lowestlevel = LowestAll(targetLow1);

This one the lines move with the chart

input price = close;
input highestInXBars = 10;
input lookBackBars = 10;
def highestInBarsBack = Highest(high, highestInXBars);
def lastBar = !IsNaN(close) and IsNaN(close[-1]);
def targetHigh = if lastBar then highestInBarsBack[lookBackBars] else 0;
plot higherlevel = HighestAll(targetHigh);

input highestInXBars2 = 20;
input lookBackBars2 = 20;
def highestInBarsBack2 = Highest(high, highestInXBars2);
def lastBar2 = !IsNaN(close) and IsNaN(close[-1]);
def targetHigh2 = if lastBar2 then highestInBarsBack[lookBackBars2] else 0;
plot highestlevel = HighestAll(targetHigh2);

input lowestInXBars = 10;
input lowlookBackBars = 10;
def lowestInBarsBack = Lowest(low, lowestInXBars);
def lowlastBar = !IsNaN(close) and IsNaN(close[-1]);
def targetLow = if lowlastBar then lowestInBarsBack[lowlookBackBars] else Double.POSITIVE_INFINITY;
plot lowerlevel = LowestAll(targetLow);

input lowestInXBars1 = 20;
input lowlookBackBars1 = 20;
def lowestInBarsBack1 = Lowest(low, lowestInXBars1);
def lowlastBar1 = !IsNaN(close) and IsNaN(close[-1]);
def targetLow1 = if lowlastBar1 then lowestInBarsBack1[lowlookBackBars1] else Double.POSITIVE_INFINITY;
plot lowestlevel = LowestAll(targetLow1);


def risk = higherlevel - price;
def reward = price - lowerlevel;

def RR = reward / risk;
def rr1 = RR;

AddLabel(yes, "Risk/reward" + Round(RR), if RR >= 2 / 1 then Color.GREEN else Color.RED);

Been using these in two ways. First is I scan for the "close" between "level" and "lowlevel" (think that’s what I called them)then trading between the range. The second way is much like Yung's scan in were I scan for a high/low that breaks through a level.

Still trying to figure out how to catch them before the break. Maybe thats were KE and FE come in?

Edit: when I first posted I had some errors that drew the lower levels on each other. Should be fixed.

Edit: I have edited this so many times

 

[television]

today i will not be playing options as i dont see any nice setups BESIDES NOC to the downside(even NOC does not look promising so will probs sit out on option plays)
long
brfs
nem
gcap

short
*noc (really has to have a good intraday set up for me to consider taking)
post
kindi
rmti
sens (risky, 100 mil market cap)

 

[akykn]

I had some swings from yesterday(I jumped in right before market close)
KLAC calls - up %25
MU puts - up %218
NEM calls - up %172
XOM puts - down %40

 

[camitos]

Hi @camitos Can you please share TOS link for your charts. Thank you.

Hi @camitos Can you please share TOS link for your charts. Thank you.

Hey I'm using paper TOS and don't believe I can share my workspace/charts.
Here are some screenshots.
So far I'm just using the trend reversal arrows, 10ema, and swinglowshighs (coloured candles from tenacity). I added the RSI w/ FE but don't understand it completely as yet.

https://imgur.com/nI1x7aX

https://imgur.com/XfrqmXy

https://imgur.com/is6uCwv

 

[television]

I had some swings from yesterday(I jumped in right before market close)
KLAC calls - up %25
MU puts - up %218
NEM calls - up %172
XOM puts - down %40

whyd you get in MU?
also take not of the daily 50 sma on exxon

 

[akykn]

whyd you get in MU?
also take not of the daily 50 sma on exxon

market condition wasnt good (not enough strength) and also RSI FE pointing down, Ichi clouds and I took a risk. Friday FUNDAY (0.11 per contracts and market opened red) I was up %700 at once during premarket

 

[captut]

I had some swings from yesterday(I jumped in right before market close)
KLAC calls - up %25
MU puts - up %218
NEM calls - up %172
XOM puts - down %40

What delta puts/call do you buy and whats the EXP date?

 

[captut]

LONG: WPM, FNV

 

[camitos]

What do you guys think of TOPS it looks grim but it shows a low bubble, trend reversal signal, and a decent amount of consolidation. It's spiked before

https://imgur.com/99YTiaw

https://imgur.com/AfN6nw9

https://imgur.com/cO5AmZ5

 

[akykn]

What delta puts/call do you buy and whats the EXP date?

to be honest I buy weekly puts/calls and otm which it moves quick and it doesnt cost much

 

[venkym]

https://tos.mx/RcCE0GV
current chart set-up. I remember someone asking.

@YungTraderFromMontana This grad was amazing superb, thanks for sharing!!!!. Thanks for scanner as well found in one of the page

 

[bubz]

What do you guys think of TOPS it looks grim but it shows a low bubble, trend reversal signal, and a decent amount of consolidation. It's spiked before

https://imgur.com/99YTiaw

https://imgur.com/AfN6nw9

https://imgur.com/cO5AmZ5

tbh I would not trade TOPS if you don't have experience with it. There are better setups elsewhere. just my 2cents