YungTrader's Ultimate Indicator

[YungTraderFromMontana]

Which plot indicator is the high and low arrows?

Don't use the high and low arrows. Those are from the original study but essentially plot perfect highs and lows using future data. Not useful in realtime.

 

[YungTraderFromMontana]

@YungTraderFromMontana Regarding this new version which scan should we go for ?

I'm trying to figure out a workaround on the scan. Somehow I added something that made it too complex. Working on it.

 

[wen]

@yungtrader, the last two days I have had 100% winners. Greatly appreciate your hard work and insight. Will update in 3 weeks to see if trend continues. I know 100% is unrealistic, goal is 80%

can u share your experience.

 

[Tek]

Another updated version coming by tomorrow.

YungTrader, the alert/sound is not working for me as the arrow is pointing. Is there a fix?

 

[akykn]

I'm trying to figure out a workaround on the scan. Somehow I added something that made it too complex. Working on it.

thanks for the reply. Ill be around here

 

[TrueDepth]

If I am going to have an indicator named after me, I want it to be something better than a ROC derivative!!

 

[HSI1600]

can u share your experience?

Besides the scan that YungTrader provided (I only by on the up arrow) using a daily scan but the 5-minute chart for entries. I use a DMI filter, Adx Filter, and stock must be above the cloud. This limits the number of stocks that are returned from the scan but for the small account that I have, I am trying to hedge my bets.
Thurs Wins were:
GFI
NTGN
SFM
Friday Wins were:
UEC
MDGS (I opened and closed this position 3 times and all were winners)
CAPR

 

[Juston410]

Besides the scan that YungTrader provided (I only by on the up arrow) using a daily scan but the 5-minute chart for entries. I use a DMI filter, Adx Filter, and stock must be above the cloud. This limits the number of stocks that are returned from the scan but for the small account that I have, I am trying to hedge my bets.
Thurs Wins were:
GFI
NTGN
SFM
Friday Wins were:
UEC
MDGS (I opened and closed this position 3 times and all were winners)
CAPR

Would you be able to share your workspace? Really interested in your setup.

 

[YungTraderFromMontana]

I ended up giving up on what I belived was going to be a slightly more effective 2d version for improving a one scan fits all daily version.
Here is the newest scan, I am now using a different second indicator to filter out breaks with little momentum.
Testing so far looks good.

Here is the scan: https://tos.mx/KavMufT

Here is an updated upper study:

declare upper;

input LookbackPeriod = 3;
input TimeFrame2 = "week";
input TimeFrame3 = "month";
input HideSwings = no;
input HideCurrentTF = no;
input HideTimeFrame2 = no;
input HideTimeFrame3 = no;
input length = 5;
input length21 = 40;
input length1 = 5;

def price = close;

input lengthmo = 8;
input lengthsqu = 4;#hint length: Length for average calculation
def price23 = (open + close)/2;
input SDmult = 2.5;
input ATRmult = 1.0;


def K = (Highest(high, lengthmo) + Lowest(low, lengthmo)) /
               2 + ExpAverage(close, lengthmo);
def Momo = Inertia(price23 - K / 2, lengthmo);

def SD = StDev(close, lengthsqu);
def Avg = ExpAverage(close, lengthsqu);
def ATR = Average(TrueRange(high, close, low), lengthsqu);
def SDup = Avg + (SDmult * SD);
def ATRup = Avg + (ATRmult * ATR);
def Squeeze = SDup < ATRup;
      

def squeezechange = (squeeze[1]) and (squeeze is false);
def upper =  (momo > 0) and (momo > momo[1]);
def lower =  (momo < 0) and (momo < momo[1]);
def swtichtup = (upper) and (squeezechange or squeezechange[1]);
def swtichtdown = (lower) and (squeezechange or squeezechange[1]);
def fullthrustup = (momo[1] < 0) and (momo > 0);
def fullthrustdown = (momo[1] > 0) and (momo < 0);
def recentup = swtichtup[1] or swtichtup or fullthrustup or fullthrustup[1];
def recentdown = swtichtdown[1] or swtichtdown or fullthrustdown or fullthrustdown[1];
            



def price3 = hlc3;
input BuyEntry3 = 4;
input SellEntry3 = 4;
def displace2 = 0;

input buyentry4 = 4;
input sellentry4 = 4;
input lengthw = 4;
def wClosew = (high + low + 2 * close) * 0.25;
def wCRatiow = (wClosew - wClosew[1]) / Min(wClosew, wClosew[1]);
def closeRatiow = 3 * wClosew / Average(Highest(High, 2) - Lowest(Low, 2), lengthw) * AbsValue(wCRatiow);
def volumeRatiow = Volume / Average(Volume, lengthw);
def volumePerClosew = volumeRatiow / exp(Min(88, closeRatiow));
def buyPw;
def sellPw;
if (wCRatiow > 0) {
    buyPw = volumeRatiow;
    sellPw = volumePerClosew;
} else {
    buyPw = volumePerClosew;
    sellPw = volumeRatiow;
}
def buyPresw = if IsNaN(buyPresw[1]) then 0 else ((buyPresw[1] * (lengthw - 1)) + buyPw) / lengthw;
def sellPresw = if IsNaN(sellPresw[1]) then 0 else ((sellPresw[1] * (lengthw - 1)) + sellPw) / lengthw;
def tempDIw;
if ((((sellPresw[1] * (lengthw - 1)) + sellPw) / lengthw - ((buyPresw[1] * (lengthw - 1)) + buyPw) / lengthw) > 0) {
    tempDIw = - if (sellPresw != 0) then buyPresw / sellPresw else 1;
} else {
    tempDIw = if (buyPresw != 0) then sellPresw / buyPresw else 1;
}
plot DMIndxw = if IsNaN(close) then Double.NaN else if tempDIw < 0 then -1 - tempDIw else 1 - tempDIw;

def wClose = (high + low + 2 * close) * 0.25;
def wCRatio = (wClose - wClose[1]) / Min(wClose, wClose[1]);
def closeRatio = 3 * wClose / Average(Highest(High, 2) - Lowest(Low, 2), length) * AbsValue(wCRatio);
def volumeRatio = Volume / Average(Volume, length);
def volumePerClose = volumeRatio / exp(Min(88, closeRatio));
def buyP;
def sellP;
if (wCRatio > 0) {
    buyP = volumeRatio;
    sellP = volumePerClose;
} else {
    buyP = volumePerClose;
    sellP = volumeRatio;
}
def buyPres = if IsNaN(buyPres[1]) then 0 else ((buyPres[1] * (length - 1)) + buyP) / length;
def sellPres = if IsNaN(sellPres[1]) then 0 else ((sellPres[1] * (length - 1)) + sellP) / length;
def tempDI;
if ((((sellPres[1] * (length - 1)) + sellP) / length - ((buyPres[1] * (length - 1)) + buyP) / length) > 0) {
    tempDI = - if (sellPres != 0) then buyPres / sellPres else 1;
} else {
    tempDI = if (buyPres != 0) then sellPres / buyPres else 1;
}
def DMIndx = if IsNaN(close) then Double.NaN else if tempDI < 0 then -1 - tempDI else 1 - tempDI;

def ZeroLine = 0;


def QB4 = Highest(dmindx, BuyEntry4);
def QS4 = Lowest(dmindx, SellEntry4);
def trueqb4 = QB4[1];
def trueqs4 = QS4[1];
def midline4 = (trueqb4 + trueqs4)/2;






assert(length1 > 0, "'length' must be positive: " + length1);
def ROC = if price3[length1] != 0 then (price3 / price3[length1] - 1) * 100 else 0;
assert(length21 > 0, "'length' must be positive: " + length21);

def QB3 = Highest(roc, BuyEntry3);
def QS3 = Lowest(roc, SellEntry3);
def trueqb3 = QB3[1];
def trueqs3 = QS3[1];
def midline3 = (trueqb3 + trueqs3)/2;
def rocover = (roc > trueqs3 or roc[1] > trueqs3[1] or roc[2] > trueqs3[2]);


def buy4 =  (dmindx > trueqs4) and  (roc > trueqs3) and ((dmindx > midline4) or  (roc > midline3));
def optiondos = (dmindxw > .47069) and (roc > midline3);
def sell4 = (dmindx < trueqs4) and (roc < trueqb3) and (roc < -1);



def SwingsLagBar = 1;
def BuyEntry = 3;
def SellEntry = 3;

def QB = Highest(high, BuyEntry);
def QS = Lowest(low, SellEntry);
def trueqb = QB[1];
def trueqs = QS[1];
plot midline = (trueqb + trueqs)/2;
def length78 = 1;
def displace = 0;
def price2 = close;
def SMA = Average(price[-displace], length78);
def SMA2 = Average(price2[-displace], length78);

#--------------------------------------------------------------
def _highInPeriod1 = Highest(high, LookbackPeriod);
def _lowInPeriod1 = Lowest(low, LookbackPeriod);
#--------------------------------------------------------------
def marketLow1 = if _lowInPeriod1 < _lowInPeriod1[-LookbackPeriod] then _lowInPeriod1 else _lowInPeriod1[-LookbackPeriod];
def _markedLow1 = low == marketLow1;

rec _lastMarkedLow1 = CompoundValue(1, if IsNaN(_markedLow1) then _lastMarkedLow1[1] else if _markedLow1 then low else _lastMarkedLow1[1], low);
#--------------------------------------------------------------
def marketHigh1 = if _highInPeriod1 > _highInPeriod1[-LookbackPeriod] then _highInPeriod1 else _highInPeriod1[-LookbackPeriod];
def _markedHigh1 = high == marketHigh1;

rec _lastMarkedHigh1 = CompoundValue(1, if IsNaN(_markedHigh1) then _lastMarkedHigh1[1] else if _markedHigh1 then high else _lastMarkedHigh1[1], high);
#--------------------------------------------------------------
plot Resistance1 = _lastMarkedHigh1;
plot Support1 = _lastMarkedLow1;
#--------------------------------------------------------------
Resistance1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
Resistance1.SetDefaultColor(Color.MAGENTA);
Resistance1.SetHiding(HideCurrentTF);
#--------------------------------------------------------------
Support1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
Support1.SetDefaultColor(Color.YELLOW);
Support1.SetHiding(HideCurrentTF);
#--------------------------------------------------------------
def LowSwingForw = Lowest(low, SwingsLagBar)[-SwingsLagBar];
def LowSwingBack = Lowest(low, LookbackPeriod)[1];
def SwingLow = if low < LowSwingForw and low <= LowSwingBack then 1 else 0;
plot LowSwing = if SwingLow then low else Double.NaN;
LowSwing.Hide();
#--------------------------------------------------------------
def HighSwingForw = Highest(high, SwingsLagBar)[-SwingsLagBar];
def HighSwingBack = Highest(high, LookbackPeriod)[1];
def SwingHigh = if high > HighSwingForw and high >= HighSwingBack then 1 else 0;
plot HighSwing = if SwingHigh then high else Double.NaN;
HighSwing.Hide();
#--------------------------------------------------------------
HighSwing.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
HighSwing.SetLineWeight(5);
HighSwing.SetDefaultColor(Color.MAGENTA);
HighSwing.SetHiding(HideSwings);
LowSwing.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
LowSwing.SetLineWeight(5);
LowSwing.SetDefaultColor(Color.YELLOW);
LowSwing.SetHiding(HideSwings);
#--------------------------------------------------------------
Alert(HighSwing, "SupRes : Swing High", Alert.BAR, Sound.Bell);
Alert(LowSwing, "SupRes : Swing Low", Alert.BAR, Sound.Bell);
#--------------------------------------------------------------
AddLabel(HighSwing, "SupRes : Swing High", Color.MAGENTA);
AddLabel(LowSwing, "SupRes : Swing Low", Color.YELLOW);
#--------------------------------------------------------------
def _highInPeriod2 = Highest(high(period = TimeFrame2), LookbackPeriod);
def _lowInPeriod2 = Lowest(low(period = TimeFrame2), LookbackPeriod);
#--------------------------------------------------------------
def marketLow2 = if _lowInPeriod2 < _lowInPeriod2[-LookbackPeriod] then _lowInPeriod2 else _lowInPeriod2[-LookbackPeriod];
def _markedLow2 = low(period = TimeFrame2) == marketLow2;

rec _lastMarkedLow2 = CompoundValue(1, if IsNaN(_markedLow2) then _lastMarkedLow2[1] else if _markedLow2 then low(period = TimeFrame2) else _lastMarkedLow2[1], low(period = TimeFrame2));
#--------------------------------------------------------------
def marketHigh2 = if _highInPeriod2 > _highInPeriod2[-LookbackPeriod] then _highInPeriod2 else _highInPeriod2[-LookbackPeriod];
def _markedHigh2 = high(period = TimeFrame2) == marketHigh2;

rec _lastMarkedHigh2 = CompoundValue(1, if IsNaN(_markedHigh2) then _lastMarkedHigh2[1] else if _markedHigh2 then high(period = TimeFrame2) else _lastMarkedHigh2[1], high(period = TimeFrame2));
#--------------------------------------------------------------
plot Resistance2 = _lastMarkedHigh2;
Resistance2.Hide();
plot Support2 = _lastMarkedLow2;
Support2.Hide();
#--------------------------------------------------------------
Resistance2.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
Resistance2.SetDefaultColor(Color.MAGENTA);
Resistance2.SetHiding(HideTimeFrame2);
#--------------------------------------------------------------
Support2.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
Support2.SetDefaultColor(Color.YELLOW);
Support2.SetHiding(HideTimeFrame2);
#--------------------------------------------------------------
def _highInPeriod3 = Highest(high(period = TimeFrame3), LookbackPeriod);
def _lowInPeriod3 = Lowest(low(period = TimeFrame3), LookbackPeriod);
#--------------------------------------------------------------
def marketLow3 = if _lowInPeriod3 < _lowInPeriod3[-LookbackPeriod] then _lowInPeriod3 else _lowInPeriod3[-LookbackPeriod];
def _markedLow3 = low(period = TimeFrame3) == marketLow3;

rec _lastMarkedLow3 = CompoundValue(1, if IsNaN(_markedLow3) then _lastMarkedLow3[1] else if _markedLow3 then low(period = TimeFrame3) else _lastMarkedLow3[1], low(period = TimeFrame3));
#--------------------------------------------------------------
def marketHigh3 = if _highInPeriod3 > _highInPeriod3[-LookbackPeriod] then _highInPeriod3 else _highInPeriod3[-LookbackPeriod];
def _markedHigh3 = high(period = TimeFrame3) == marketHigh3;

rec _lastMarkedHigh3 = CompoundValue(1, if IsNaN(_markedHigh3) then _lastMarkedHigh3[1] else if _markedHigh3 then high(period = TimeFrame3) else _lastMarkedHigh3[1], high(period = TimeFrame3));
#--------------------------------------------------------------
plot Resistance3 = _lastMarkedHigh3;
Resistance3.Hide();
plot Support3 = _lastMarkedLow3;
Support3.Hide();
#--------------------------------------------------------------
Resistance3.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
Resistance3.SetDefaultColor(Color.MAGENTA);
Resistance3.SetHiding(HideTimeFrame3);
#--------------------------------------------------------------
Support3.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
Support3.SetDefaultColor(Color.YELLOW);
Support3.SetHiding(HideTimeFrame3);
def ff =  (open * 2 + close * 3)/5;
def lower_close1 = (SMA2 crosses below Support1[1]);
def higher_close1 = (SMA2 crosses above Resistance1[1]);
def lower_close2 = (SMA2 crosses below Support2[1]);
def higher_close2 = (SMA2 crosses above Resistance2[1]);
def lower_close3 = (SMA2 crosses below Support2[1]);
def higher_close3 = (SMA2 crosses above Resistance2[1]);

def higher_close12 = (ff > Resistance1[1]);
def higher_close22 = (ff >  Resistance2[1]);
def higher_close32 = (ff > Resistance2[1]);

def x = (close > trueqb);
def c = (close[1] < trueqb[1]);
def v = (close[2] < trueqb[2]);
def b = x and (c or v);

def y = (close > trueqs);
def w = (close[1] < trueqs[1]);
def e = (close[2] < trueqs[2]);
def r = y and (w or e);

def allbreakdown = lower_close1 or lower_close2 or lower_close3;
def allbreakup =  (higher_close1 or higher_close2 or higher_close3);
def allbreakup2 =  (higher_close12 or higher_close22 or higher_close32);
def anyres = support1 or support2 or support3;
def ansup = support1 or support2 or support3;

input BuyEntry2 = 40;
input SellEntry2 = 40;

def QB2 = Highest(high, BuyEntry2);
def QS2 = Lowest(low, SellEntry2);
plot trueqb2 = QB2[1];
trueqb2.SetDefaultColor(GetColor(27));
plot trueqs2 = QS2[1];
trueqs2.SetDefaultColor(GetColor(27));
plot midline2 = (trueqb2 + trueqs2)/2;
def fg = (high - close) < ((close - open) * 2);
def fgbear = (close-low) < ((open - close) * 2);
def goodcandle = ((high - close) < (hl2 - low)) or (open > high[1]);
def goodsellcandle = (close - low) < (high - hl2);
def goodcandle2 = ((close - open)/(high - low)) > .82;
def allbreaku = (allbreakup2 and goodcandle2);
def openhigh = open > close[1];

plot goldenbuy = (allbreakup or allbreaku or allbreakup[1]);

plot goldenshort = (allbreakdown);


plot goldenbuytesting = (goldenbuy) and recentup and (goodcandle) and (fg) and (squeeze is false) and goldenbuy[1] is false and goldenbuy[2] is false and goldenbuy[3] is false;
goldenbuytesting.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
goldenbuytesting.SetDefaultColor(GetColor(34));
plot goldenshorttesting = (goldenshort) and recentdown and (squeeze is false) and fgbear and goldenshort[1] is false and goldenshort[2] is false and goldenshort[3] is false;
goldenshorttesting.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
goldenshorttesting.SetDefaultColor(GetColor(39));

All of this was designed on a daily chart but can certainly be used on other timeframes.
On some stocks a 2 lookback is better while on others 3 is. Make sure you look at past performance.

 

[rovo]

@YungTraderFromMontana Thanks!

When do you ideally run this scan? PreMarket? Throughout the day or end of day for next day position?

For some reason, when I add this latest study to my chart, it distorts and shrinks down the candlesticks...I'm not sure what's causing it? Anyone have any ideas?

Thank you.

https://imgur.com/a/BroqCJM

UPDATE: I figured out why it was shrinking. In my chart settings, under price axis, I just needed to uncheck everything under Scale.

 

[akykn]

THX for the hardwork

 

[asragov]

The scan is much appreciated - how would one tweak the scan to be able to look on other time frames?

 

[akykn]

The scan is much appreciated - how would one tweak the scan to be able to look on other time frames?

this Q mentioned on here before if you wanna go through pages

 

[YungTraderFromMontana]

@YungTraderFromMontana Thanks!

When do you ideally run this scan? PreMarket? Throughout the day or end of day for next day position?

For some reason, when I add this latest study to my chart, it distorts and shrinks down the candlesticks...I'm not sure what's causing it? Anyone have any ideas?

Thank you.

https://imgur.com/a/BroqCJM

UPDATE: I figured out why it was shrinking. In my chart settings, under price axis, I just needed to uncheck everything under Scale.

It depends on the timeframe but a stock can be scanned for at any time. Just remember that the signal isn't locked in until the bar closes so
be confident.

 

[HighBredCloud]

@YungTraderFromMontana Just a suggestion...but perhaps you should update on first page of your posts the newest scans or studies...easier to follow your progress.

 

[asragov]

this Q mentioned on here before if you wanna go through pages

Sorry - I went through the threads and could not figure out how to scan for hourly etc. I see
input TimeFrame2 = ;
input TimeFrame3 = ;
in the source code but changing to hours gives an error "secondary period not allowed"

If you could please explain (it's probably very simple) or point me to the post, I'd appreciate it. It's not laziness, it's just genuinely not seeing the answer. Thank you.

 

[YungTraderFromMontana]

Sorry - I went through the threads and could not figure out how to scan for hourly etc. I see
input TimeFrame2 = ;
input TimeFrame3 = ;
in the source code but changing to hours gives an error "secondary period not allowed"

If you could please explain (it's probably very simple) or point me to the post, I'd appreciate it. It's not laziness, it's just genuinely not seeing the answer. Thank you.

putting "1 hour" should work.

 

[asragov]

Thanks so much - sorry, I was just missing the "1" in "1 hour"

 

[rovo]

Besides the scan that YungTrader provided (I only by on the up arrow) using a daily scan but the 5-minute chart for entries. I use a DMI filter, Adx Filter, and stock must be above the cloud. This limits the number of stocks that are returned from the scan but for the small account that I have, I am trying to hedge my bets.
Thurs Wins were:
GFI
NTGN
SFM
Friday Wins were:
UEC
MDGS (I opened and closed this position 3 times and all were winners)
CAPR

Thanks for the insight!
Do you enter the trade on on an up arrow and the candle closes? Or when the up arrow and the price passes up through the upper resistance?

What do you mean by "stock much be above the cloud" ?

Thanks again.

 

[rovo]

If you're trading 1d - 2d keep them.

1d - 2d is more along the lines of swing trading approach, instead of intraday trading?