YungTrader's Ultimate Indicator

[baxtr]

@YungTraderFromMontana ....Have you ever reached out to Pete Hann...He is a thinkscript coder and knows TOS very well that might be able to help.
https://www.hahn-tech.com/thinkorswim-forum-topics/

Excellent suggestion....he has answered questions of mine that I am sure to him are very basic..He would probably like a challenge like this...or at the very least know if it is possible

 

[akykn]

My tip is to make sure the market movement can't have an effect on your gains. Evenly spread out long and short positions. Enter more longs on up days and more short on up days. For example the market has been very ranged recently. Accumulate longs below 282 and accumulate shorts above 285. Don't be reactionary be proactive.

do you get in short signals or only calls singals? I usually get in both signals but stop out with small loss if my positions goes againts me. Also looking at spy in premarket can give you heads up imo !!!

 

[YungTraderFromMontana]

I too would like to know of a good momentum...but other than Relative Volume I don't know of anything else that might be helpful to be honest. You can try something like Trade Ideas has where % Change is given with in a certain timeframe...that too can be a good indication of momentum and hopefully you can figure out how to implement Relative Volume into this equation.

I've looked into relevant volume and it works some of the time but other times the volume comes in on the second day of the breakout making you miss the gains of the first day and gap to second. I could maybe implement it as a way to assist the arrows with some kind of dot or wedge when there high rel vol.

 

[Craighaber71]

Excellent suggestion....he has answered questions of mine that I am sure to him are very basic..He would probably like a challenge like this...or at the very least know if it is possible

He also does custom projects for a cost...I'm sure we could do a GOFUNDME for the scan....LOL

 

[YungTraderFromMontana]

He also does custom projects for a cost...I'm sure we could do a GOFUNDME for the scan....LOL

If he says he can 100% do it for a cost I'd be happy to cover it. I expect this will be worth way more then whatever he charges over time to me.

 

[Craighaber71]

If he says he can 100% do it for a cost I'd be happy to cover it. I expect this will be worth way more then whatever he charges over time to me.

https://www.hahn-tech.com/about/ ....This is the link for a custom project

 

[HighBredCloud]

I've looked into relevant volume and it works some of the time but other times the volume comes in on the second day of the breakout making you miss the gains of the first day and gap to second. I could maybe implement it as a way to assist the arrows with some kind of dot or wedge when there high rel vol.

Try implementing this into your strategy...You will NOT miss the first or second day breakouts as you mentioned.

https://usethinkscript.com/threads/simple-yet-very-powerful-swing-trading-strategy.272/

 

[PirateTrader]

https://imgur.com/zIkyDiV

Huge resistance on FB....

Hi Craighaber71
Can you please tell me where can i find those 2 indicators on your chart? RSI_LAG and Momentum_Belt? i have tried to search the website but could not find them. Any help would be much appreciated!

 

[Craighaber71]

Hi Craighaber71
Can you please tell me where can i find those 2 indicators on your chart? RSI_LAG and Momentum_Belt? i have tried to search the website but could not find them. Any help would be much appreciated!

RSI....https://tos.mx/mNXeU8c

MOMO belt is...StochasticMomentumIndex with a 6...15 setting

 

[AKM001]

I have an idea/workaround that i am trying to implement. Crossing my fingers and hoping for the best. You don't need to send me anything, ill convert it to the scanner myself.

@YungTraderFromMontana I am seeing some light here and getting closer. Can you please tell me what you wish to happen?

Questions: From the three or more plots below you want all the Scans to appear in one Scan file? (can you please lay out some options for me)?
Scan 1 ==> plot goldenbuywfe = breakups and buys and (factoup or buyssector);
OR
Scan 2 ==> plot goldenbuywfetest = ((allbreakup or allbreakup[1])) and (buy2);
OR
Scan 3 => plot goldenshort = breakdowns and sellbuy and (sellsector or factodown);

ps: Sorry i am still bit confused

 

[PirateTrader]

RSI....https://tos.mx/mNXeU8c

MOMO belt is...StochasticMomentumIndex with a 6...15 setting

Thank you so much appreciate that! do you happen to know if i can set the RSI to show signals from the 5m timeframe for example why i am looking at the 1m chart? or would i need to use 2 charts for that?

 

[Craighaber71]

Thank you so much appreciate that! do you happen to know if i can set the RSI to show signals from the 5m timeframe for example why i am looking at the 1m chart? or would i need to use 2 charts for that?

It will only show the chart that you are on...

 

[AKM001]

@YungTraderFromMontana I am very close to creating a scanner but stuck at the exception. "com.devexperts.tos.thinkscript.runtime.TooComplexException: The complexity of the expression suggests that it may not be reliable with real-time data" This is because you are using recursion which is Ok for the Charts but are not supported on Scans.
Any way you have a workaround for this?

 

[YungTraderFromMontana]

I've made it a scan before but I can't get past the complexity issue.

 

[AKM001]

I've made it a scan before but I can't get past the complexity issue.

@YungTraderFromMontana if I can get the three separate scans code then i can try to put the OR logic in them. Mean while I am playing around with the code of "rec CompoundValue(...." to see if i can find alternative for recursion.

 

[YungTraderFromMontana]

@YungTraderFromMontana if I can get the three separate scans code then i can try to put the OR logic in them. Mean while I am playing around with the code of "rec CompoundValue(...." to see if i can find alternative for recursion.

The biggest time waster is the separate logic for every single gamma and he line. It definitely contributes to lots of the issue.

 

[YungTraderFromMontana]

It ****s that developing the scanner is a massive roadblock, it's really is unfortunate because I just found yet another way to improve results. Using the new tos study RSMk you can find time where a stock was strong or weak relative to the market. Early analysis shows that avoiding breakout when the stock is underperforming and buying breakouts when the stock is stronger then the market is improves results. The only dilemma I have is the more I add the less likely we'll ever figure out a scan.

 

[TrueDepth]

I got your previous ones to scan, by removing everything in the code that was unnecessary for the scan.

 

[Jackieguo2233]

@YungTraderFromMontana the is a great script!
I have been playing around with it and it is very accurate however I am having trouble on understanding when to take profit for the alerts. Are these alerts swing trades or only 1 day trade after signal on the daily chart?

 

[AKM001]

The biggest time waster is the separate logic for every single gamma and he line. It definitely contributes to lots of the issue.

I understand your furstation. Do you by any change have most updated 3 separate study/code for the indicators? ( Breakup/Down, FE and HE). If so can you please share it with me. i'll try to first create separate scans and then figure out a way to blend them with logic/workaround.
Thanks in Advance.