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  • Post #21
  • Quote
  • Edited 10:19am Sep 7, 2022 9:25am | Edited 10:19am
Quoting PipsAndGainz
RH let me know what you think. I also have different tabs for each time frame. {image} {image}{image}{image}{image}
Yeah, those things look good. I would also add in Volume to shorten the list dramatically, like Volume > 500,000 or > than 1,000,000.

And maybe try this as a condition:

Properties

Name: 3 EMA > 8 EMA > 17 EMA > 30 SMA

(C > AVGC3) AND (AVGC3 > AVGC8) AND (AVGC8 > AVGC17) AND (AVGC17 > AVGC30)

Obviously you can change the lengths and types of ma's...it's the idea and how to do it that matters here.

Also...I have not tried it yet but see if you can get the Hulls in there, that could be interesting.
Always a Student, Never a Master - Emulate What Works
Quoting RobinHood
{quote} Yeah, those things look good. I would also add in Volume to shorten the list dramatically, like Volume > 500,000 or > than 1,000,000. And maybe try this as a condition: Properties Name: 3 EMA > 8 EMA > 17 EMA > 30 SMA (C > AVGC3) AND (AVGC3 > AVGC8) AND (AVGC8 > AVGC17) AND (AVGC17 > AVGC30) Obviously you can change the lengths...it's the idea and how to do it that matters here. Also...I have not tried it yet but see if you can get the Hulls in there, that could be interesting.
Thanks for the help

I will get back to you when I have something.
Only the Mediocre are Always at their Best
  • Post #23
  • Quote
  • Edited 1:55pm Sep 9, 2022 12:52pm | Edited 1:55pm
I've tried to use the scanner with the hulls but since it has a negative offset it never works idk why.

I tweaked the settings to be able to use the scanner. The right chart is what I came up with to be as close to your chart as possible
Attached Image (click to enlarge)
Click to Enlarge Name: New Method Comparison.png Size: 64 KB


Have a look RH and let me know
Only the Mediocre are Always at their Best
Quoting PipsAndGainz
I've tried to use the scanner with the hulls but since it as a negative offset it never works idk why. I tweaked the settings to be able to use the scanner. The right chart is what I came up with to be as close to your chart as possible {image} Have a look RH and let me know
Yeah, that looks good.

Hulls. See if 0 and +1 work.
Always a Student, Never a Master - Emulate What Works
  • Post #25
  • Quote
  • Edited Sep 10, 2022 4:04am Sep 9, 2022 1:50pm | Edited Sep 10, 2022 4:04am
Quoting RobinHood
{quote} Yeah, that looks good. Hulls. See if 0 and +1 work.
When the offset is 0 it works. It is only when we use the -1 and +1 that nothing shows up in the scanner.
Only the Mediocre are Always at their Best
I was trying to figure it out but honestly have no idea other than removing the offset (but it will need us to use other settings)

What do you think?

I’m still going to use this new method but have to manually check the stocks I want to buy.
Only the Mediocre are Always at their Best
Quoting PipsAndGainz
I was trying to figure it out but honestly have no idea other than removing the offset (but it will need us to use other settings) What do you think? I’m still going to use this new method but have to manually check the stocks I want to buy.
I don't know. I have a friend of mine who is a professional trader and when I told him about offsetting it, he was able to code it in TradeStation so maybe it's just some quirk in TC2000's code that needs to be figured out.
Always a Student, Never a Master - Emulate What Works
Quoting RobinHood
{quote} I don't know. I have a friend of mine who is a professional trader and when I told him about offsetting it, he was able to code it in TradeStation so maybe it's just some quirk in TC2000's code that needs to be figured out.
RH just sent you a private message.
Only the Mediocre are Always at their Best
Good luck in your journey I’m in similar journey using robinhood strategies
Quoting RobinHood
{quote} I agree with everything you said. It looks like you did very well with your test, so congratulations on that! Here's the indicator (in the lower window) that I was telling you about. {image}
just curiosity what indicator is?
Quoting PipsAndGainz
I've tried to use the scanner with the hulls but since it has a negative offset it never works idk why. I tweaked the settings to be able to use the scanner. The right chart is what I came up with to be as close to your chart as possible {image} Have a look RH and let me know
same question what indicator is it? it looks interesting
  • Post #32
  • Quote
  • Edited 10:28am Sep 22, 2022 9:00am | Edited 10:28am
Last week I was trying to figure out how to use the scanner with the negative offset but after testing everything I could I was never able to make it work.
So I changed the negative offset to a positive one like you told me before.

I'll update Post #1 with the scanner settings & let me know what you think.
Only the Mediocre are Always at their Best
  • Post #33
  • Quote
  • Edited 8:50am Oct 24, 2022 5:44am | Edited 8:50am
RH I came up with this and I find it much more visual appealing to my eyes.

This is not to say that I didn't like yours but this one for me makes it easier.


Let me know if you still think the keltner channels makes it better because I kept the original roadmap but with the 20-period setting now.

Attached Image (click to enlarge)
Click to Enlarge Name: RHO with New Roadmap and Volatility Stop.png Size: 50 KB


By the way I checked the stocks you told me about and they look really good compared to the whole market situation.

Thanks a lot for all the wisdom
Only the Mediocre are Always at their Best
  • Post #34
  • Quote
  • Edited 10:41am Oct 24, 2022 9:01am | Edited 10:41am
Quoting PipsAndGainz
RH I came up with this and I find it much more visual appealing to my eyes. This is not to say that I didn't like yours but this one for me makes it easier. Let me know if you still think the keltner channels & the volatility stop makes it better. Also I kept the roadmap's moving averages as exponential. {image} By the way I checked the stocks you told me about and they look really good compared to the whole market situation. Thanks a lot for all the wisdom
Yeah, it looks good. What is the Magenta/Yellow Line??

I am using the 20 sma with this set up BECAUSE that's what most stock traders use instead of ema's, but I doubt it really makes too much difference considering that we are using the "area" of the RoadMap instead of just a single moving average.

I changed the outer RoadMap lines to the KC's because it widens out the "road" a bit more than the moving averages, AND because you can easily adjust the width of the channel should you want to which you can't do using ema's.

Let me walk you through what I want to see (when using the exact trading set up below) before I enter a Long STOCK position...
Attached Image (click to enlarge)
Click to Enlarge Name: Trading Example.PNG Size: 184 KB

First I look at the Weekly chart.

1. I look to see if the stock's price has been MUCH higher in the past, like at least 3-4 times higher than it is now.
2. Price is above the RoadMap
3. VS is blue
4. RHO is blue

When all of the above are true, then and only then do I look at the Daily chart and the 3 items below need to be true.

1. Price moves above the RoadMap
2. VS turns blue
3. RHO turns blue

Then, I usually wait for a pullback which happened on the 3rd bar back from the right on the Daily chart (the red bar), then a resumption of the trend, which happened on bars number 1 and 2 from the right on the Daily chart.

(On very strong moves, you often don't get a pullback until price is way too far away from the RoadMap. In that case, I usually won't initiate a trade if that happens...UNLESS I see where I can enter at a good spot AND be able to use a small stop, at a clearly defined area, like a swing low).

This situation creates my favorite type of trade which is a Continuation Trade.

It also instantly allows me to know exactly where my stop goes, which in this case is just below the low of the red bar (the 3rd bar back from the right on the Daily chart).

Should that red bar have been very much bigger, I would have skipped this trade.

Then, I normally trail my stop as the trade progresses until I get stopped out....win or lose.

In my opinion, there are an infinite number of ways to "define" a Continuation Trade set up, you just have to figure out which way works best for you.
Always a Student, Never a Master - Emulate What Works
Quoting RobinHood
{quote} Yeah, it looks good. What is the Magenta/Yellow Line?? I am using the 20 sma with this set up BECAUSE that's what most stock traders use instead of ema's, but I doubt it really makes too much difference considering that we are using the "area" of the RoadMap instead of just a single moving average. I changed the outer RoadMap lines to the KC's because it widens out the "road" a bit more than the moving averages, AND because you can easily adjust the width of the channel should you want to which you can't do using ema's. Let me walk you through...
I really like the this way of trading. Seems super intuitive.

When you say above the roadmap do you mean the centered line or the top/bottom line of the keltner channel?
I always had that doubt.

Also how are you trailing your stops in stocks?
Because I strictly wait for the RHO to give me a exit signal I tend to not profit as much as if I was trailing my stops.

The yellow and magenta lines are the volatility stop with the settings you gave me.

Attached Image (click to enlarge)
Click to Enlarge Name: Volatility Stop New Settings.png Size: 9 KB


Then I plotted the opacity to none and added a moving average on top of it to make it more easy to the eye like the image above shows.
Only the Mediocre are Always at their Best
Quoting PipsAndGainz
{quote} I really like the this way of trading. Seems super intuitive. When you say above the roadmap do you mean the centered line or the top/bottom line of the keltner channel? I always had that doubt. Also how are you trailing your stops in stocks? Because I strictly wait for the RHO to give me a exit signal I tend to not profit as much as if I was trailing my stops. The yellow and magenta lines are the volatility stop with the settings you gave me. {image} Then I plotted the opacity to none and added a moving average on top of it to make it more...
RoadMap - Outside of all 3 lines.

I trail my stops in various ways, but typically 1-2 bars back or at a very recent swing low (in the stop is small enough), or when I get a color change on the RHO.

Then I plotted the opacity to none and added a moving average on top of it to make it more easy to the eye like the image above shows.

That was an interesting idea, I'll try it.
Always a Student, Never a Master - Emulate What Works
  • Post #37
  • Quote
  • Edited 3:02pm Oct 24, 2022 10:49am | Edited 3:02pm
I can't figure out how to make the VS dots into a line. Can you tell me specifically how you did it?

Update: I figured out how to do it.
Always a Student, Never a Master - Emulate What Works
Quoting RobinHood
{quote} RoadMap - Outside of all 3 lines. I trail my stops in various ways, but typically 1-2 bars back or at a very recent swing low (in the stop is small enough), or when I get a color change on the RHO. Then I plotted the opacity to none and added a moving average on top of it to make it more easy to the eye like the image above shows. That was an interesting idea, I'll try it.
Alright makes sense.

Do you think having an heikin ashi chart to trail the stop 2 bars back would be a good idea?

I noticed the color of the line I showed you doesn't completely correspond to the dot color so idk if it will be a good idea to not have the dots also.
Only the Mediocre are Always at their Best
Quoting PipsAndGainz
{quote} Alright makes sense. Do you think having an heikin ashi chart to trail the stop 2 bars back would be a good idea? I noticed the color of the line I showed you doesn't completely correspond to the dot color so idk if it will be a good idea to not have the dots also.
Yes on trailing the HA candles.

I put both the VS line and the dots on my charts at the same time and I couldn't get them to match perfectly either, so I am just using the dots now, but mostly just because I am so used to seeing them on my charts.
Always a Student, Never a Master - Emulate What Works
Quoting RobinHood
{quote} Yes on trailing the HA candles. I put both the VS line and the dots on my charts at the same time and I couldn't get them to match perfectly either, so I am just using the dots now, but mostly just because I am so used to seeing them on my charts.
I created a volatility stop crossover instead of having the dots & it matches perfectly.

See if you like it.

Attached Image (click to enlarge)
Click to Enlarge Name: Volatility with Crossover.png Size: 73 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Volatility with EMAs.png Size: 69 KB
Only the Mediocre are Always at their Best
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