YungTrader's Ultimate Indicator

[akykn]

This indicator repaints, any advice on filtering bad signals?

so far it doesnt.Ive got calls this morning and it did not repaint still valid

 

[YungTraderFromMontana]

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

This indicator repaints, any advice on filtering bad signals?

no repaint

 

[YungTraderFromMontana]

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.

sometimes the signal triggers 2 times in a row, try to get in on the first arrow.

 

[Thomas]

Hi, what is your Timeframe on this picture ?

Daily,....it works on all timeframes as the author stated in the thread...

 

[Thomas]

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

The scan is in number #36,......you run scan, then with the indicator set up, look for the signals......make a watchlist so that it populates.....one important things everyone, understand how to use your platform, how to change elementary things, otherwise you will fail...

 

[YungTraderFromMontana]

I bought into 6 positions yesterday that I'm holding
long trxc, pbyi, nvcr.
short fixx, cgix, navi.

 

[YungTraderFromMontana]

@Thomas looking at swn again I think it runs a day or two more even though it is extremely extended.

 

[Thomas]

I bought into 6 positions yesterday that I'm holding
long trxc, pbyi, nvcr.
short fixx, cgix, navi.

Post a chart of on of your entries, explain why you took the trade. I don't seem to have any shorts populate the current scan......but hurry on development of new. What I was trying to describe was this scan I realized is a breakout scan,....that must be highlighted, but the trades come way before the breakouts,....as I pointed out in my chart posts.......

 

[Thomas]

Here's what I see as a squeeze in the ROC indicator?????

 

[YungTraderFromMontana]

yes spot on

 

[Thomas]

yes spot on

My intention is not to continue dialogue here, but to improve this indicator for anyone who finds it useful, FYI

 

[Jay007]

so far it doesnt.Ive got calls this morning and it did not repaint still valid

I see the Signal arrow appear and stays for a while, if stock goes against signal direction, the arrow disappears like it never gave a signal but you are already in a trade going against you.

 

[YungTraderFromMontana]

@Thomas big crash coming today. I'm loading up on puts at open. I think volatility should rocket.

 

[Thomas]

I see the Signal arrow appear and stays for a while, if stock goes against signal direction, the arrow disappears like it never gave a signal but you are already in a trade going against you.

That's right, arrows will appear at the close of the candle, but if the signal is not correct, arrow disappears, yes, you were in the trade, so manage the trade as you would any trade. Was the entry your set up, or taken off a mechanically coded arrow? All indicators are discretionary, the scans are important.....

 

[YungTraderFromMontana]

I see the Signal arrow appear and stays for a while, if stock goes against signal direction, the arrow disappears like it never gave a signal but you are already in a trade going against you.

There is only a chance of it disappearing if it doesn't meet the criteria before the candle closes. Only enter trades before the candle closes if you're very confident.

 

[Thomas]

@Thomas big crash coming today. I'm loading up on puts at open. I think volatility should rocket.

Careful about predicting, watch price action.....

 

[YungTraderFromMontana]

Here's my chart of /es. Clear break of the upwardtrend. It is crucial to get in before volatility spikes with options so you can also make money on the IV spike. /vx is also ramping up.

 

[Thomas]

Here's my chart of /es. Clear break of the upwardtrend. It is crucial to get in before volatility spikes with options so you can also make money on the IV spike. /vx is also ramping up.

HUH,......?????? Still waiting on some chart examples.....or that scan whichever comes first

 

[Jay007]

There is only a chance of it disappearing if it doesn't meet the criteria before the candle closes. Only enter trades before the candle closes if you're very confident.

Trade was taken after candle closed, arrow disappeared much later in trade after many candles

 

[Jay007]

That's right, arrows will appear at the close of the candle, but if the signal is not correct, arrow disappears, yes, you were in the trade, so manage the trade as you would any trade. Was the entry your set up, or taken off a mechanically coded arrow? All indicators are discretionary, the scans are important.....

understood, Just trying to understand how indicator works.