YungTrader's Ultimate Indicator

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YungTraderFromMontana

YungTraderFromMontana

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It sucks 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.
 
J

Jackieguo2233

New member
@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?
 
YungTraderFromMontana

YungTraderFromMontana

Well-known member
@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?
That is up to you, breakouts come in different forms Sometimes it is wise to take profits one day after an extreme move and sometimes its good to hold for the slow grind up. What separates decent traders from superb ones is their management of their trades. Study previous breakouts and see what price does in certain scenarios.
 
YungTraderFromMontana

YungTraderFromMontana

Well-known member
Does anyone have any tips for making this study look smoother? One thing I'm inexperienced in is chart painting logic but I'd love to give it a shot.
 
C

cfw238

New member
Incorporate this volume study? Checking Previous volume comparison

Code:
plot Data = close;# CSA FoM and RV Std Dev
# tomsk
# 1.7.2020

# Freedom of Movement and Relative Volume Std Dev
# Original code: provided by blakecmathis

declare lower;
declare zerobase;

input length = 60;
input numDev = 2.0;
input allowNegativeValues = no;

def mov = AbsValue(close / close[1] - 1);
def minMov = Lowest(mov, length);
def maxMov = Highest(mov, length);
def nMov = 1 + (mov - minMov) / (maxMov - minMov) * 9;
def vol = (volume - Average(volume, length)) / StDev(volume, length);
def minVol = Lowest(vol, length);
def maxVol = Highest(vol, length);
def nVol = 1 + (vol - minVol) / (maxVol - minVol) * 9;
def vByM = nVol / nMov;
def rawFoM = (vByM - Average(vByM, length)) / StDev(vByM, length);

#Relative Volume Std Dev

def rawRelVol = (volume - Average(volume, length)) / StDev(volume, length);
def RelVol = if allowNegativeValues then rawRelVol else Max(0, rawRelVol);

plot signal = rawFoM > numDev and RelVol > numDev;

AddLabel(signal, "CSA FoM RV StDev Triggered", Color.Yellow);
Alert(signal, "CSA FoM RV StDev", Alert.BAR, Sound.RING);
# End CSA FoM and RV Std Dev
 
raghavag2004

raghavag2004

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2019 Donor
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Does anyone have any tips for making this study look smoother? One thing I'm inexperienced in is chart painting logic but I'd love to give it a shot.
@YungTraderFromMontana if i'm seeing /ES today it took breakout of resistance zone in 2D period, now what is the next resistance zone for it? anyway to optimize the script for next levels? additional if any stock crossses 52 weeks next Fib extensions to add as Resistance point is it possible to update in the script?
 
television

television

Member
@YungTraderFromMontana i was out last week for testing and want to get back to doing the calls that we usually did. Want to make a new thread or dsicord server for calling out plays?
 
B

buoyantTrader

New member
Thanks @YungTraderFromMontana, appreciate you separating the trade ideas out on to the discord server. I am looking forward to learning and sharing ideas as well. Happy Trading!
 
HSI1600

HSI1600

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Discord link has expired. Does anyone have a current invitation link?
 
Oxford896

Oxford896

New member
@YungTraderFromMontana thanks very much for the indicator. I try to set up short scan, however, the 2nd version mainly focuses on the long pattern. I am unable to set up short scan. I do a lot of shorting when trading. Is there any way to create short indicator only based on 2nd version? Thanks again.
 
HSI1600

HSI1600

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VIP
After having my winning percentages fall below 60% (following a system designed for futures), I have come back to @YungTraderFromMontana. Over the last two days won on SERV & CLDX, lost on EMAN ( did not pay attention to Fe)
 
Juston410

Juston410

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@HSI1600 Were you using the SwingArm Indicator? Why were you having issues?
 
HSI1600

HSI1600

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@HSI1600 Were you using the SwingArm Indicator? Why were you having issues?
@Juston410 - With BF scanner my win rate was drastically down from YT scanner. I do not trade options or futures, just stock between $4 and $40. Jose communicated that the system was not designed for Penny Stocks. I still have BF as an upper study due to support and resistance and Fib levels. I made four trades Thurs and Fri and with YT scanner and had 3 out of 4 winners. Once my account is large enough to trade /ES or /MES I will go back fully to BF but for now, I will just have to be half pregnant.
 
Juston410

Juston410

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@Juston410 - With BF scanner my win rate was drastically down from YT scanner. I do not trade options or futures, just stock between $4 and $40. Jose communicated that the system was not designed for Penny Stocks. I still have BF as an upper study due to support and resistance and Fib levels. I made four trades Thurs and Fri and with YT scanner and had 3 out of 4 winners. Once my account is large enough to trade /ES or /MES I will go back fully to BF but for now, I will just have to be half pregnant.
Do you still use SwingArm for entries and just Yungs scanners for plays? It looks like Yungs scanner might pull better setups for stocks but i havent really looked into it too much. Im still testing the Swing Arm out.
 
HSI1600

HSI1600

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Do you still use SwingArm for entries and just Yungs scanners for plays? It looks like Yungs scanner might pull better setups for stocks but i havent really looked into it too much. Im still testing the Swing Arm out.
@Juston410 - exactly. Besides YT scan I also run an FW DBO scan as well. I have found success with both.
 

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