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K_TraderRibbon_v1 for ToS

Update: see journal link below for more details on using K_Tarder_Ribbon in multi timeframe.

https://nexusfi.com/trading-journals/21136-learning-journal-redk-trading-options-3.html

This study was inspired by the 9/30 method setup... hope others will find it useful. it's amazing how few lines of code can produce something as effective and nice looking (they don't have to be ugly, you know...

)

The K_Trader_Ribbon is a trend following setup based on 2 crossing-MA's concept.
we use WMA and an EMA of shorter length of that WMA.
the "ribbons" shade the area between the EMA, the WMA, and the midline of the Hi/lo Channel of the WMA.
the price/WMA will be on either sides of that channel depending on up/down trend ..
visualizing it this way hides a lot of unnecessary noise..
we can also better visualize the "buy" area (light shading) and the "exit loss" areas (inside the darker shades or if price penetrates the TrendLine)
added a buy/sell signal (up/down arrow) based on the crossing of the WMA with it's EMA (it provides the earliest signal) beside the color clue (red/Green) for an established trend up or down.

couple of nice visual enhancements to expereiment with(hi-contrast clouds and hide/show all lines) - see screenshots

try different length settings.. i liked 4/3 and 6/3 on a 5min chart..

Adjust length settings based on underlying & time aggregation until you see the price bars penetrating the ribbon to the other side of current trend *just before reversal*, and staying within the ribbon during retraces.. this will be the best settings in most cases..

feedback welcome.. pls keep within BMT.

Thank you,
RedK

Category The Elite Circle

Details: K_TraderRibbon_v1 for ToS
Category: The Elite Circle

September 11th, 2012
Size: 2.14 KB

Keywords: ma redk ribbon thinkorswim tos trend wma

Comments/ratings

Hguru September 11th, 2012 08:27 AM

RedK,

Thanks anothe super Job.

Hguru

Cloudy September 13th, 2012 04:47 PM

Nice, the colors help see the continuation trades. Thanks RedK

kareem40 September 15th, 2012 10:06 PM

Good work again. Nice to see more TOS indicators.

ticker September 29th, 2012 12:33 AM

I would be grateful to anyone who can translate into Ninja?

LukhyG October 16th, 2013 09:41 PM

Thanks for This great help

1973Hog December 6th, 2013 09:32 PM

Thanks, RedK. Just wanted to let you know that I loaded this up to ToS and am experimenting with which Time Frames and Settings to use for short term Intra Day trading -- trading the intra day trends that last from 10-30 minutes.

Here is a [B][SIZE="3"]chart[/SIZE][/B] of how I used your system to trade TNA today (12-06-2013). It works very well on a 5 min chart with 4,2 as the setting. It identified the Up trend in the pre market, the chop zone in the first part of the trading day, and then the Up trend from 1045 to 1155.

Thanks again.