"E" success

Had NFLX and FB put trades today- 77 cents on the option on FB (let it run past my typical 50 cent order) and 50 cents on NFLX. Happy with both !

AAPL trade today- puts
IN 1:10 PM E signal on all six charts
OUT 3:01 at my pre-set 50 cents GTC
Profit 50 cents on the option x 10 contracts

A couple of observations- after I entered, it pulled back (moved up) and I seriously considered getting out) I moved to looking at a 3 min and 1 min chart and noticed that it was rolling over and heading back down. I stayed in. In hind sight, this would have been the perfect place to get in (and I think other traders in this forum have mentioned about looking at a 1 min for a pull back before entering AFTER at E signal... In any event, that is what I did and it worked out fine.

Now my next step is to figure out how to let some of these continue their move and develop a clear exit criteria that would be a plan B for the GTC 50 cent order that I almost always place right after I enter.

Any thoughts?

NMR,

I'm now practicing looking at the 3 min chart as well for a E-signal trade back up and see if this works better than tracking the 1 min chart. Definitely need to come up w/ sound criteria to allow a trade to run. Case in point was my CMG trade below; The option went all the way to $17.00 before backing off. I was already out of the trade with a 15% GTC target. I'll analyze this & see what I find. Here are three recent E-signal trades completed:

CHIPOTLE MEXICAN GRILL
09/28/2015 O STC CMG OctWk1 725 Put 10 $10.40 $15.00 $10,384.56
09/28/2015 O BTO CMG OctWk1 725 Put 10 $8.90 $15.00 ($8,915.24) 1,469.32

POWERSHARES QQQ TRUST SERIES
09/29/2015 O STC QQQ OctWk2 101 Put 100 $2.20 $150.00 $21,847.24
09/29/2015 O BTO QQQ OctWk2 101 Put 100 $1.90 $150.00 ($19,152.35) 2,694.89
Total Realized Gain/Loss for QQQ $2,694.89

TESLA MOTORS
09/30/2015 O STC TSLA OctWk2 245 Put 10 $7.90 $15.00 $7,884.61
09/30/2015 O BTO TSLA OctWk2 245 Put 10 $6.85 $15.00 ($6,865.24) 1,019.37
Total Realized Gain/Loss for TSLA $1,019.37

#Raleightrader
nice trades and nice profit !!!

I'd be interested to see what you are thinking when you analyze these trades...
We're they all E signals on all 6 charts? I have used the 1 min for a pull back before I enter and that works out well too- I've been typically putting a 50 cents up and out order in (except for QQQ and SPY where I typically look for 20 cents)

I've had several trades lately ehat changed direction rather quickly the other way and I got out and lost on the trade... this is very frustrating when this happens and needless to say, when I am analyzing the trade it would have worked out in the 'long run' (long run being hours- or within the day !!)

Thanks for posting and always willing to learn.

I've been watching this post for a month or two. I haven't traded using this idea, but did develop some thinkscript based on it, if anyone is up for trying it out. It's the same moving averages idea, but a bit more detailed and includes SMI at various scales as well for a bit more accuracy (hopefully).

I have mine setup for 1 min, 5 min, and 10 min scales (currently testing it for day trading). It would be easy to add additional scales if needed.

Here is the code:
#E-system

#--------------------------------------------------------
#Moving Averages
def MA1 = expaverage(close, 1);
def MA2 = expaverage(close, 2);
def MA4 = expaverage(close, 4);
def MA8 = expaverage(close, 8);
def MA16 = expaverage(close, 16);
def MA32 = expaverage(close, 32);

def MAup = MA1 > MA2 and MA2 > MA4 and MA4 > MA8 and MA8 > MA16 and MA16 > MA32;
def MAdn = MA1 < MA2 and MA2 < MA4 and MA4 < MA8 and MA8 < MA16 and MA16 < MA32;


#--------------------------------------------------------

def SMI2_percentDLength = 2;
def SMI2_percentKLength = SMI2_percentDLength * 2;
def SMI2_min_low = Lowest(low, SMI2_percentKLength);
def SMI2_max_high = Highest(high, SMI2_percentKLength);
def SMI2_rel_diff = close - (SMI2_max_high + SMI2_min_low) / 2;
def SMI2_diff = SMI2_max_high - SMI2_min_low;
def SMI2_avgrel = ExpAverage(ExpAverage(SMI2_rel_diff, SMI2_percentDLength), SMI2_percentDLength);
def SMI2_avgdiff = ExpAverage(ExpAverage(SMI2_diff, SMI2_percentDLength), SMI2_percentDLength);
def SMI2_SMI = if SMI2_avgdiff != 0 then SMI2_avgrel / (SMI2_avgdiff / 2) * 100 else 0;
def SMI2_SMI_slope = SMI2_SMI[0] - SMI2_SMI[1];


#SMI3
def SMI3_percentDLength = 3;
def SMI3_percentKLength = SMI3_percentDLength * 2;
def SMI3_min_low = Lowest(low, SMI3_percentKLength);
def SMI3_max_high = Highest(high, SMI3_percentKLength);
def SMI3_rel_diff = close - (SMI3_max_high + SMI3_min_low) / 2;
def SMI3_diff = SMI3_max_high - SMI3_min_low;
def SMI3_avgrel = ExpAverage(ExpAverage(SMI3_rel_diff, SMI3_percentDLength), SMI3_percentDLength);
def SMI3_avgdiff = ExpAverage(ExpAverage(SMI3_diff, SMI3_percentDLength), SMI3_percentDLength);
def SMI3_SMI = if SMI3_avgdiff != 0 then SMI3_avgrel / (SMI3_avgdiff / 2) * 100 else 0;

#SMI4
def SMI4_percentDLength = 4;
def SMI4_percentKLength = SMI4_percentDLength * 2;
def SMI4_min_low = Lowest(low, SMI4_percentKLength);
def SMI4_max_high = Highest(high, SMI4_percentKLength);
def SMI4_rel_diff = close - (SMI4_max_high + SMI4_min_low) / 2;
def SMI4_diff = SMI4_max_high - SMI4_min_low;
def SMI4_avgrel = ExpAverage(ExpAverage(SMI4_rel_diff, SMI4_percentDLength), SMI4_percentDLength);
def SMI4_avgdiff = ExpAverage(ExpAverage(SMI4_diff, SMI4_percentDLength), SMI4_percentDLength);
def SMI4_SMI = if SMI4_avgdiff != 0 then SMI4_avgrel / (SMI4_avgdiff / 2) * 100 else 0;
def SMI4_SMI_slope = SMI4_SMI[0] - SMI4_SMI[1];

#SMI5
def SMI5_percentDLength = 5;
def SMI5_percentKLength = SMI5_percentDLength * 2;
def SMI5_min_low = Lowest(low, SMI5_percentKLength);
def SMI5_max_high = Highest(high, SMI5_percentKLength);
def SMI5_rel_diff = close - (SMI5_max_high + SMI5_min_low) / 2;
def SMI5_diff = SMI5_max_high - SMI5_min_low;
def SMI5_avgrel = ExpAverage(ExpAverage(SMI5_rel_diff, SMI5_percentDLength), SMI5_percentDLength);
def SMI5_avgdiff = ExpAverage(ExpAverage(SMI5_diff, SMI5_percentDLength), SMI5_percentDLength);
def SMI5_SMI = if SMI5_avgdiff != 0 then SMI5_avgrel / (SMI5_avgdiff / 2) * 100 else 0;
def SMI5_SMI_slope = SMI5_SMI[0] - SMI5_SMI[1];

def SMI_hierarchy_up = SMI2_SMI > SMI3_SMI and SMI3_SMI > SMI4_SMI and SMI4_SMI > SMI5_SMI;
def SMI_hierarchy_dn = SMI2_SMI < SMI3_SMI and SMI3_SMI < SMI4_SMI and SMI4_SMI < SMI5_SMI;


#--------------------------------------------------------
plot Eup = if MAup and SMI_hierarchy_up then 1 else 0;
def Edn = if MAdn and SMI_hierarchy_dn then 1 else 0;

EUp.AssignvalueColor(IF Eup THEN COLOR.LIGHT_green
else if Edn then color.PINK ELSE Color.gray);

AssignbackgroundColor(IF Eup THEN
COLOR.LIGHT_green else if Edn then color.PINK ELSE
Color.gray);

Let me know if this brings anyone success.

-Jeff

something's wonky w/ your code when i use it. there's some kind of indicator at the bottom of the screen but i can't tell what the signals are. scale gets compressed to a flat line for price.

It's not designed for the main chart screen, so it will look quite weird when applied to that.

It's for use in the watchlist to the left. Let me know if you need some screen shots.

The only drawback I see with this overall idea, is that it gets you into trades a bit on the late side, so there is a higher chance of the trend losing steam by the time you get in, which means less profits and potentially a loss due to slippage. Here is the code for a custom "drive" indicator I created that can assist in letting you know if a trend is losing steam or not. It has 3 separate scales, short term, medium term, long term. When you see any of the scales start to drop (even if price is still going up), you'll know the trend may be getting ready to end.


#--------------------------------------------------------------
#drive strength, 3 scale
#Jeff Quick moodflow1@gmail.com

declare lower;

def size_2 = ExpAverage(close, 2) - ExpAverage(close, 4);
plot size_2_slope = size_2[0] - size_2[1];
size_2_slope.SetDefaultColor(Color.white);
size_2_slope.SetLineWeight(1);

def size_4 = ExpAverage(close, 4) - ExpAverage(close, 8);
plot size_4_slope = size_4[0] - size_4[1];
size_4_slope.SetDefaultColor(Color.YELLOW);
size_4_slope.SetLineWeight(1);

def size_8 = ExpAverage(close, 8) - ExpAverage(close, 16);
plot size_8_slope = size_8[0] - size_8[1];
size_8_slope.SetDefaultColor(Color.red);
size_8_slope.SetLineWeight(1);

plot ZeroLine = 0;
ZeroLine.SetDefaultColor(color.gray);
#--------------------------------------------------------------



Edited 1 time(s). Last edit at 10/01/2015 08:38PM by jeffro72.

Can we keep this forum aligned only to E CHART trading ?

I love to hear if anyone has had any successful E CHART trades lately.

NMR Wrote:
-------------------------------------------------------
> Can we keep this forum aligned only to E CHART
> trading ?
>
> I love to hear if anyone has had any successful E
> CHART trades lately.

Recent E-signal trades:

AMAZON
10/15/2015 O STC AMZN OctWk5 580 Call 1 $17.45 $14.95 $1,729.99
10/15/2015 O BTO AMZN OctWk5 580 Call 1 $16.10 $14.95 ($1,624.97) 105.02
Total Realized Gain/Loss for AMZN $105.02

CHIPOTLE MEXICAN GRILL
10/19/2015 O STC CMG OctWk4 715 Put 1 $27.90 $14.95 $2,774.97
10/19/2015 O BTO CMG OctWk4 715 Put 1 $25.60 $14.95 ($2,574.97) 200.00
Total Realized Gain/Loss for CMG $200.00

QIHOO 360 TECHNOLOGY CO
10/19/2015 O STC QIHU OctWk4 55 Call 10 $2.25 $15.00 $2,234.71
10/19/2015 O BTO QIHU OctWk4 55 Call 10 $2.05 $15.00 ($2,065.24) 169.47
Total Realized Gain/Loss for QIHU $169.47

Thanks RaleighTrader- great info to share about your trades. How are you determining your exit criteria?

I had 2 trades I did recently:

In on Friday- out Monday Morning- NFLX puts
In on Monday morning (E signal fired around 10 something) and out literally 15 minutes later with a 50 cent option move

I've been traveling so havent done anything Tues or Today.

FIT puts today in at 2:45 PM and sold out up +50 cents at 3:15 FIT had an E that signalled well... and then signalled 2 more E's after.
also did a practice trade on NFLX in at 2:30 and up over $1.50 on the option by end of day. This wasnt an E but more of a MA separation trade.

NFLX moves and works well...

mtut Wrote:
-------------------------------------------------------
> I have made several trades today. I don't plan to
> post my trades in this thread any longer. I find
> it redundant to keep showing the same setup over
> and over. I will continue to update the
> spreadsheet located here
> [docs.google.com]
> WAzbzeVC9lhuFPPHKw6vyJdzaoPQeQEnI/edit?usp=sharing
> and answer questions, update code etc.


MTUT, I tried to access the spreadsheet you referenced from this post but it appears to be set to private. Do you mind sharing again? Thanks again for your contribution to the forum.

All, thanks for the contributions in this thread. I know I am a bit late coming into this thread but I am trying to get my workspace setup with Darcy/MTUT's setup. I am replaying some of the script with on demand and it does not seem to be lining up just right.

First I have the columns in my watchlist setup and I have it as E30, 20, 10, 5 and 3 with the below code

input short_average = 5;
input medium_average = 10;
input long_average = 20;
input average_type = {default "SMA", "EMA"};

def MA1;
def MA2;
def MA3;
switch (average_type) {
case "SMA":
MA1 = Average(close, short_average);
MA2 = Average(close, medium_average);
MA3 = Average(close, long_average);
case "EMA":
MA1 = ExpAverage(close, short_average);
MA2 = ExpAverage(close, medium_average);
MA3 = ExpAverage(close, long_average);
}


plot Eup = if MA1 > MA2 && MA2 > MA3 then 1 else
0;
def Edn = if MA1 < MA2 && MA2 < MA3 then 1 else
0;


EUp.AssignvalueColor(IF Eup THEN COLOR.LIGHT_green
else if Edn then color.PINK ELSE Color.gray);

AssignbackgroundColor(IF Eup THEN
COLOR.LIGHT_green else if Edn then color.PINK ELSE
Color.gray);


I then have my 6 charts setup with 30, 20, 10, 8, 5 and 3 and I am using the E charts V3 along with ADX and MF indicator that I found in this thread

ADX

declare lower;

input length = 14;
input averageType = AverageType.WILDERS;

plot ADX = DMI(length, averageType).ADX;
ADX.setDefaultColor(COLOR.BLACK);
ADX.SetLineWeight(2);

PLOT STRONGLINE = 20;
STRONGLINE.setDefaultColor(COLOR.WHITE);
STRONGLINE.SetLineWeight(2);

MF

declare lower;
input price = close;

plot MF = TotalSum(if price < price[1] then -price * volume else if price > price[1] then price * volume else 0);
MF.SetDefaultColor(COLOR.BLACK);
MF.SetLineWeight(2);


plot ZeroLine = 0;
ZeroLine.SetDefaultColor(COLOR.WHITE);
ZEROLINE.SetLineWeight(2);

What I cant find in this thread is the Trend script and the Bullish Script. If someone is successfully using what MTUT has currently running, could you please post all the scripts you use and the watchlist setup? I have read through all 10 pages on this thread and can not seem tofind all the scripts.

Also a question for the successful users, If I have all green across all 5 bars in the watchlist but say only 4 charts that show E UP in Green, do I have something setup wrong, or is that sometimes expected?

Thanks again

PM me your email and I will send you my workspace. It took me months to finally get my workspace ironed out so I know your pain

Hello,

I am trying to find the E chart setup and
a way to put the E,MF, Trend and ADX label on my chart made mtut.

Thanks

I sent you a PM as well, but it doesn't show in my "Sent" folder.
I'd be interested in getting that workspace as well, along with the plan outlined.

Hi Mtut

Could you please share code for to add all this study label on chart

E Up/Dn
MF Up/Dn
Trend Up/Dn
Strong ADX >25 or 20

for Exit on 5 min chart 5MA cross 10MA


Thanks in advance

MTUT

Can you share the code

I adjusted to MA 3, 5, and 15 instead of original setup 5, 10, 30 to get more accurate signal. see below code for your reference.

#Default MA1= 5, MA2= 10, MA3= 30;
declare upper;

def MA1 = Average(close, 3);
def MA2 = Average(close, 5);
def MA3 = Average(close, 15);


# define e-signal and crossover point
def Eup = MA1 > MA2 && MA2 > MA3;
def Edn = MA1 < MA2 && MA2 < MA3;

# Plot the moving average lines
#plot ln1 = MA1;
#ln1.SetDefaultColor(CreateColor(0, 153, 51));
#ln1.SetLineWeight(2);
#plot ln2 = MA2;
#ln2.SetDefaultColor(CreateColor(0, 153, 255));
#ln2.SetLineWeight(2);
#plot ln3 = MA3;
#ln3.SetDefaultColor(CreateColor(255, 102, 102));
#ln3.SetLineWeight(2);

#EMA7
plot EMA7 = ExpAverage(close, 7);
EMA7.SetDefaultColor(GetColor(4));

# money flow
def MF = TotalSum(if close < close[1] then -close * volume else if close > close[1] then close * volume else 0);

Def MFup = mf > mf[1];
def MFdn = mf < mf[1];

# ema 8 & ema21 trend
def trendup2 = ExpAverage(close, 8) > ExpAverage(close, 21);
def trenddn2 = ExpAverage(close, 8) < ExpAverage(close, 21);

#ADX
#Default Length= 10;
input length = 5;
input averageType = AverageType.EXPONENTIAL;
DEF ADX = DMI(length, averageType).ADX;

# show trade signal
def bulltrade = eup and mfup and trendup2 and adx > 25;
def beartrade = edn and mfdn and trenddn2 and adx > 25;

AddLabel(bulltrade, "BULL TRADE", (color.blue));
AddLabel(beartrade, "BEAR TRADE", (color.DARK_RED));

AssignBackgroundColor( if bulltrade then Color.LIGHT_GREEN else if beartrade then Color.PINK else Color.gray );

plot dotUp1 = if bulltrade and !bulltrade[1] then low - 1 else Double.NaN;
dotUp1.SetPaintingStrategy(PaintingStrategy.POINTS);
dotUp1.SetLineWeight(5);
dotUp1.SetDefaultColor(Color.blue);
plot dotDn1 = if beartrade and !beartrade[1] then high + 1.0 else Double.NaN;
dotDn1.SetPaintingStrategy(PaintingStrategy.POINTS);
dotDn1.SetLineWeight(5);
dotDn1.SetDefaultColor(Color.dark_red);

# Calculate Meter Values
def sl1 = ma1 > ma1[1];
def sl2 = ma2 > ma2[1];
def sl3 = ma3 > ma3[1];
def p1 = close > ma1;
def p2 = close > ma2;
def p3 = close > ma3;
def u1 = 2 * (close > open);
def u2 = 2 * (close > high[1]);
def d1 = 2 * (close < open);
def d2 = 2 * (close < low[1]);

def UPstr = sl1 + sl2 + sl3 + p1 + p2 + p3 + u1 + u2;
def DNstr = !sl1 + !sl2 + !sl3 + !p1 +!p2 + !p3 + d1 + d2;

# Add Strength Meter
AddLabel(Eup or Edn, " ", if Eup and UPstr >= 3 then CreateColor(128, 199, 94) else if Edn and DNstr >= 3 then CreateColor(232, 143, 153) else CreateColor(177,177,166));
AddLabel(Eup or Edn, " ", if Eup and UPstr >= 6 then CreateColor(99, 197, 72) else if Edn and DNstr >= 6 then CreateColor(238, 123, 136) else CreateColor(177,177,166));
AddLabel(Eup or Edn, " ", if Eup and UPstr >= 8 then CreateColor(65, 195, 50) else if Edn and DNstr >= 8 then CreateColor(245, 101, 117) else CreateColor(177,177,166));
AddLabel(Eup or Edn, " ", if Eup and UPstr == 10 then CreateColor(41, 192, 36) else if Edn and DNstr == 10 then CreateColor(249, 81, 101) else CreateColor(177,177,166));


#PLOT 50 & 200 MA
def MA5 = Average(close, 50);
def MA4 = Average(close, 200);



# Bollinger Bands
#Default sDev = 21, MA21 =21;
def sDev = StDev(data = close, length = 20);
def MA21 = Average(close, 20);

plot UpperBand = MA21 + 2 * sDev;

plot LowerBand = MA21 - 2 * sDev;

UpperBand.SetDefaultColor(CreateColor(120, 163, 214));

LowerBand.SetDefaultColor(CreateColor(120, 163, 214));

UpperBand.SetLineWeight(1);

LowerBand.SetLineWeight(1);

DefineGlobalColor("FillColor", CreateColor(160, 160, 160));
AddCloud(UpperBand, LowerBand, GlobalColor("FillColor" ));

mtut,

Can you share the thinkscript for the studies in these charts?

I have only been looking a this system for a few days, and have a couple of questions:
1. Is a bullish or bearish trade is indicated when the 30-20-10-8-5-3 indicate a bull "trade" or "bear trade"
2. at what point do you exit the trade?

Thanks....

Dumb question...

How does one load an image into post?

All I can do is put my Dropbox link in.

[www.dropbox.com]

I am looking at the code and the chart and I have some questions. There appear to be two iterations of the "E" Success code. I am previously shown at the upper left of the chart has been replaced by the blue and red dots. Is that correct?

1. can anyone explain to me how the strength meter works? I am also assuming that it indicates the strength of the move. Is that correct?
2. what exactly do the blue and red dots mean? Where is the code does it come from?

#Default MA1= 5, MA2= 10, MA3= 30; 
declare upper; 

def MA1 = Average(close, 3); 
def MA2 = Average(close, 5); 
def MA3 = Average(close, 15); 


# define e-signal and crossover point 
def Eup = MA1 > MA2 && MA2 > MA3; 
def Edn = MA1 < MA2 && MA2 < MA3; 

# Plot the moving average lines 
#plot ln1 = MA1; 
#ln1.SetDefaultColor(CreateColor(0, 153, 51)); 
#ln1.SetLineWeight(2); 
#plot ln2 = MA2; 
#ln2.SetDefaultColor(CreateColor(0, 153, 255)); 
#ln2.SetLineWeight(2); 
#plot ln3 = MA3; 
#ln3.SetDefaultColor(CreateColor(255, 102, 102)); 
#ln3.SetLineWeight(2); 

#EMA7 
plot EMA7 = ExpAverage(close, 7); 
EMA7.SetDefaultColor(GetColor(4)); 

# money flow 
def MF = TotalSum(if close < close[1] then -close * volume else if close > close[1] then close * volume else 0); 

Def MFup = mf > mf[1]; 
def MFdn = mf < mf[1]; 

# ema 8 & ema21 trend 
def trendup2 = ExpAverage(close, 8) > ExpAverage(close, 21); 
def trenddn2 = ExpAverage(close, 8) < ExpAverage(close, 21); 

#ADX 
#Default Length= 10; 
input length = 5; 
input averageType = AverageType.EXPONENTIAL; 
DEF ADX = DMI(length, averageType).ADX; 

# show trade signal 
def bulltrade = eup and mfup and trendup2 and adx > 25; 
def beartrade = edn and mfdn and trenddn2 and adx > 25; 

AddLabel(bulltrade, "BULL TRADE", (color.blue)); 
AddLabel(beartrade, "BEAR TRADE", (color.DARK_RED)); 

AssignBackgroundColor( if bulltrade then Color.LIGHT_GREEN else if beartrade then Color.PINK else Color.gray ); 

plot dotUp1 = if bulltrade and !bulltrade[1] then low - 1 else Double.NaN; 
dotUp1.SetPaintingStrategy(PaintingStrategy.POINTS); 
dotUp1.SetLineWeight(5); 
dotUp1.SetDefaultColor(Color.blue); 
plot dotDn1 = if beartrade and !beartrade[1] then high + 1.0 else Double.NaN; 
dotDn1.SetPaintingStrategy(PaintingStrategy.POINTS); 
dotDn1.SetLineWeight(5); 
dotDn1.SetDefaultColor(Color.dark_red); 

# Calculate Meter Values 
def sl1 = ma1 > ma1[1]; 
def sl2 = ma2 > ma2[1]; 
def sl3 = ma3 > ma3[1]; 
def p1 = close > ma1; 
def p2 = close > ma2; 
def p3 = close > ma3; 
def u1 = 2 * (close > open); 
def u2 = 2 * (close > high[1]); 
def d1 = 2 * (close < open); 
def d2 = 2 * (close < low[1]); 

def UPstr = sl1 + sl2 + sl3 + p1 + p2 + p3 + u1 + u2; 
def DNstr = !sl1 + !sl2 + !sl3 + !p1 +!p2 + !p3 + d1 + d2; 

# Add Strength Meter 
AddLabel(Eup or Edn, " ", if Eup and UPstr >= 3 then CreateColor(128, 199, 94) else if Edn and DNstr >= 3 then CreateColor(232, 143, 153) else CreateColor(177,177,166)); 
AddLabel(Eup or Edn, " ", if Eup and UPstr >= 6 then CreateColor(99, 197, 72) else if Edn and DNstr >= 6 then CreateColor(238, 123, 136) else CreateColor(177,177,166)); 
AddLabel(Eup or Edn, " ", if Eup and UPstr >= 8 then CreateColor(65, 195, 50) else if Edn and DNstr >= 8 then CreateColor(245, 101, 117) else CreateColor(177,177,166)); 
AddLabel(Eup or Edn, " ", if Eup and UPstr == 10 then CreateColor(41, 192, 36) else if Edn and DNstr == 10 then CreateColor(249, 81, 101) else CreateColor(177,177,166)); 


#PLOT 50 & 200 MA 
def MA5 = Average(close, 50); 
def MA4 = Average(close, 200); 



# Bollinger Bands 
#Default sDev = 21, MA21 =21; 
def sDev = StDev(data = close, length = 20); 
def MA21 = Average(close, 20); 

plot UpperBand = MA21 + 2 * sDev; 

plot LowerBand = MA21 - 2 * sDev; 

UpperBand.SetDefaultColor(CreateColor(120, 163, 214)); 

LowerBand.SetDefaultColor(CreateColor(120, 163, 214)); 

UpperBand.SetLineWeight(1); 

LowerBand.SetLineWeight(1); 

DefineGlobalColor("FillColor", CreateColor(160, 160, 160)); 
AddCloud(UpperBand, LowerBand, GlobalColor("FillColor" ));

I think I understand what the below code is doing based on what I see in the chart but I don't understand how the code gets there. Can someone explain it to me?

plot dotUp1 = if bulltrade and !bulltrade[1] then low - 1 else Double.NaN; 
dotUp1.SetPaintingStrategy(PaintingStrategy.POINTS); 
dotUp1.SetLineWeight(5); 
dotUp1.SetDefaultColor(Color.blue); 
plot dotDn1 = if beartrade and !beartrade[1] then high + 1.0 else Double.NaN; 
dotDn1.SetPaintingStrategy(PaintingStrategy.POINTS); 
dotDn1.SetLineWeight(5); 
dotDn1.SetDefaultColor(Color.dark_red); 

I am not the original creator of the code, the blue and red dots show up when E signal triggerred.

NMR,

When you say you are looking for a $0.50 move to take profits , are you talking stock or option price movement?



Edited 1 time(s). Last edit at 04/28/2016 03:09PM by TexasJohn.

So I typically just put in a 50 cents up (on the option price) sell order in right when I get filled. I dont do anything with the stock price. Does this help?

NMR,

Yes it does. Thanks...

,

My selection of stocks for "E" Success Trades based on.

- between $10 and $200
- have an average volume of 2,000,000 over the last 14 days
- Have and daily ATR greater then 2 over the last 14 days .
- have an average beta greater then 1 over the last 14 days
- Have a bid/Ask spread of not more then 10% or less of the bid ask/ask price

I am interested what criteria other folks in the forum are using.