ucsgears

UCS_Extreme Snap Back (TVI)

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I am calling it a SNAP BACK indicator.

Utilizing the TVI (Transactional Value Index - Link below for indicator / setups)
You can pretty much guess when any instrument could slow down, last stand in a pullback and the last few candles before losing its strong trend.

It varies per person, a short term trader can use this, Long term traders can hedge with options.

A great tool for my trading. Thought I will share this.

Utilizing TVI for Finding Top/Bottom/Slowdown

This utilizes TVI indicator, currently the TVI is manipulated manually, I have automated a version for future release.

Embrace trading - keep the money flowing.
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// Created by UCSgears

study(title="UCS_Extreme Snap Back", shorttitle="UCS_Snapback", overlay=true)

// NO INPUTS - TRADING SYSTEM

hps = input (true, title = "High Probability Setup")
mps = input (false, title = "Mid Probability Setup")
lps = input (false, title = "Low Probability Setup")

// Inputs per video on youtube
src = ohlc4
len1 = 7
len2 = 14
len3 = 21

// Moving Average (Mid Point Fair Value)
ma1 = sma(src, len1)
ma2 = sma(src, len2)
ma3 = sma(src, len3)

// ATR (Dynamic Volatility Units)
rng1 = sma(tr,len1)
rng2 = sma(tr,len2)
rng3 = sma(tr,len3)

// ATR deviation or Secret Sauce of the promoter
up1 = ma1 + rng1 * 1.6
up2 = ma2 + rng2 * 2.4
up3 = ma2 + rng3 * 3.2

dn1 = ma1 - rng1 * 1.6
dn2 = ma2 - rng2 * 2.4
dn3 = ma2 - rng2 * 3.2

// Low Probability Trade Setup
ERhigh1 = high > up1 ? 1 : 0
ERlow1 = low < dn1 ? 1 : 0

// Medium Probability Trade Setup
ERhigh2 = high > up1 and high > up2 ? 1 : 0
ERlow2 = low < dn1 and low < dn2 ? 1 : 0

// High Probability Trade Setup
ERhigh3 = high > up1 and high > up2 and high > up3 ? 1 : 0
ERlow3 = low < dn1 and low < dn2 and low < dn3 ? 1 : 0

// Plots Based on Selection
HiPERh = hps and ERhigh3 ? red : na
HiPERl = hps and ERlow3 ? green : na

MiPERh = mps and ERhigh2 ? red : na
MiPERl = mps and ERlow2 ? green : na

LoPERh = lps and ERhigh1 ? red : na
LoPERl = lps and ERlow1 ? green : na

// Highlights
bgcolor(HiPERh, transp=70)
bgcolor(HiPERl, transp=70)
bgcolor(MiPERh, transp=70)
bgcolor(MiPERl, transp=70)
bgcolor(LoPERh, transp=70)
bgcolor(LoPERl, transp=70)
ucsgears PRO
a year ago
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Enough warning at good spots.
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dougl1965 PRO ucsgears
a year ago
EurUsd 60 min chart looks good too! UCS, do you have a good way to combine these indicators and use an alert? And if we have to just use the T&B as the alert, what piece of the code do we base it off? I know I've asked this before...just haven't figured it out? thanks again!
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ucsgears PRO
a year ago
How awesome does this look?
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ucsgears PRO
a year ago
MMM... Let me think... Oh wait, It did work again !!!?!!!
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ucsgears PRO
a year ago
Ok, Will it work in Stocks?

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ucsgears PRO
a year ago
how about a sideways moving stock?
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ucsgears PRO
a year ago
more stocks.......
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ucsgears PRO
a year ago
Let me know what you guys think.....

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TASAVANT ucsgears
a year ago
Looking good will try it
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ucsgears PRO TASAVANT
a year ago
let me know what your opinion is
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TASAVANT ucsgears
a year ago
It works well next to the fact that it shows slow downs or turning points it prevented me 2 times to chase a false break out as the bar colored red on the break out ...thanks
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TASAVANT TASAVANT
a year ago
Please add a comment…https://www.tradingview.com/x/pf82OzzD/ Positive feedback and constructive criticism are important to authors and the community.
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TASAVANT TASAVANT
a year ago
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ucsgears PRO TASAVANT
a year ago
It also depends, If you use the Low Probability setup, it generates signal very often and sometimes the legit breakouts also are treated as overvalue.
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dougl1965 PRO ucsgears
a year ago
curious, on the ways you use this? Also, I was thinking of the possibility of using the UCS T&B indicator as a filter? what do you think?
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ElGato PRO
a year ago
Looks like a very handy tool for binary trading as well! Nice!
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ucsgears PRO ElGato
a year ago
yes, derivatives with definite expiry time should work.
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Justiceisfalse
a year ago
Gorgeous and simple
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cristian.d
a year ago
I really like your Extreme Snapback indicator but after I've just discovered it, Tradingview thought to make things "easier" for guys who don't know pinescript and now I can not edit any Styles. I tried but it's a mess, I am clueless... This is yesterday's TV message

"Attention! Default value of the parameter is “false”.
If configuring style of a study is necessary, please add “editable=true” argument to particular functions."

Can you please post the script with the editable style? Thank you so much and keep up the great work.
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cristian.d cristian.d
a year ago
Nevermind, I guess they had many unhappy guys about the change, so now it's editable. Thank for your work on these indicators.
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dougl1965 PRO cristian.d
a year ago
Cristian, what instruments are you testing this on? and what timeframes?
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ucsgears PRO dougl1965
a year ago
This will work good on highly liquid asset classes, Forex, Futures (liquid), Stocks (Highly Liquid). Will not recommend trading this with low liquidity
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ucsgears PRO cristian.d
a year ago
I never noticed it, Probably because I wrote the script. Glad it is editable now. Let me know if the problem persists.
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cristian.d ucsgears
a year ago
I tested it on AAPL and SPY which are pretty liquid. I myself tend to be a Volume Spread Analysis follower so I am always looking for confirmation. It works great if you find a good confirmation tool. I am testing it in confirmation with Vdubus RejectionSpike indicator. In sideways markets is perfect but like for example , AAPL today fell like a rock for 3 hours I got many reversal signals, basically all bars over 1 hour were in green still stock kept falling. It stopped at the Monthly R2. So I guess pivots would be another great confirmation tool. But it will be on my favorite template.
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cristian.d cristian.d
a year ago
Your indicator is on my favorite study template :) If you have other idea for confirmation please share it. Thanks a lot for your work.
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cristian.d cristian.d
a year ago
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ucsgears PRO cristian.d
a year ago
Trade selection is the key. AAPL did generate a lot of signal. importantly, It was a squeeze breakout on 1h chart.... After squeezes breakout you generate a thick green vertical band (can be an exception to the Snap Back criteria). Something that should cool down is burning out, Eventually it will run out of fuel, either way. Setup / Trigger / Violation is my filtering process.

I trade Daily / Weekly time frame. My strategies and trade selections are different. I have never done a single day trade, too intense for me. lol

Glad to hear positive opinion. thanks
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rmwaddelljr
a year ago
If green is "look for buy signal" and red is opposite, I don't understand the signals. Could you give a little more info? Also, in your code you mention a video. Do you have that link? Here are a couple of charts, one with hourly timeframe and the other daily. Could you make comments generally about your observations as to how to use this. Thanks.
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ucsgears PRO rmwaddelljr
a year ago
As far as the setup is concerned, Yes, Green is a buy setup / Red the sell setup. Technically speaking, Its just an oversold / overbought spot. Now, Combining Multiple periods of oversold and overbought scenario, we can evaluate the Extremeness of the Scenario. I could not locate the video on youtube any more. In a nutshell, the video shows, how to scan for stocks. and how to drill down in time frames to time entry for small stoplosses. And how to manage by reverting back to parent time frame. Its a helpful video. Unless you can handle the pressure of trading a tick chart, do not spend time in searching for the video.

Youtube Search - Value Extreme indicator, Fair Value indicator. etc.....

or google - "How to drill down trading time frame"

Hope this helps.
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TASAVANT ucsgears
a year ago
Its a great indicator using it for FX and Index scalping in the 1 min time frame
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you got to watch pattern and keep your finger on the trigger to get out when the last high or low gets broken ,,,,
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dougl1965 PRO TASAVANT
a year ago
This has been helpful for me to look for a price shift on the eurusd/gbpusd in certain time areas. Looks to be a big help so I'll use it next week. In addition, the 1hr timeframe looks good on those too.
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ucsgears PRO
a year ago
Guys/Gals. Based on comments and im's i received, Planning to update this with the following options.

1. Custom Inputs to create your definition of time frames
2. Options to plot this as bgcolor or label along with a bar count.
3. implementing the editable function
4. Choice of using TVI / RSI.

add your comments to this post. So i can improve this indicator.
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cristian.d ucsgears
a year ago
This is perfect, thanks a ton. Nothing to be added; I keep trying to find something that will somehow warn me about the false signals like in a strong trend.
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cristian.d cristian.d
a year ago
Volume good give confirmation in a trending market.
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2use cristian.d
a year ago
Seens a good combo. Do post more updates if you find this working
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cristian.d 2use
a year ago
Add support/resistance pivots and volume reading and it's pretty good.
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2use cristian.d
a year ago
Can you add a chart and show which ones?
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cristian.d 2use
a year ago
Daily, weekly and monthly Classic Pivots and Daily Woodie Pivots (experimenting with them)
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cristian.d cristian.d
a year ago
And today's action... If you have any other ideas please share.
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dougl1965 PRO cristian.d
a year ago
I was going to say that bounces off higher times (levels) and signals from a lower timeframe chart work great on EurUsd. What are the vertical colored lines in the chart above?
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cristian.d dougl1965
a year ago
It's ucsgears' indicator SNAP BACK indicator (Transactional Value Index). Thanks for idea. I don't do Forex although Ive been thinking to do it lately because I still have a regular job and monitoring trades from a smartphone it's risky sometimes.
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dougl1965 PRO cristian.d
a year ago
ok, forex-wise I actually had a good week. back to break even overall. I have ideas if you are interested?
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cristian.d dougl1965
a year ago
That would be much appreciated sir. I am a novice here, actually started last year, lost all my account in in 3 trades after I averaged 60% per month in 2 consecutive months (naked options). Discipline was my weak point I guess and using way too many indicators. Now I try the simple and basic things SR and volume... My issue is that I can have good entries at beggining of trends but I exit far too early, I chicken out with every pull back.
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ucsgears PRO cristian.d
a year ago
Just a little advice, if you are new to options. Be disciplined with your "own" rules.... It requires tremendous amount of conviction and just the correct level of confidence to hold through a p/b. I use the ESB after squeeze triggers, if i am in a trade i look for signs to exit. If i want to get in, I will look into getting in. Sometime I also manage long options by making them a calendar. Free cash / reduce exposure risk etc......options is by far the best derivative out there. Its flexible and can manage them very easily Finding your setups and trade combo will be the best here.
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cristian.d ucsgears
a year ago
Thank you for your advice. What is ESB? I was doing good in the last 2 weeks with morning moves in APPL and SPY, weekly calls/puts in and out in 30 minutes or less, from opening to maximum 11.30 EST; especially fading the gaps at the opening, using 1 minute entry after the 4th minute, but after using the 5minute; I watch premarket move and if it's about to open near a pivot/above or bellow I will now to fade or not to fade the move, Combined with pivots was good and fast cash. BUT again my lack of discipline makes me give some of the profits in mid day when all the sideways takes place.
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ucsgears PRO cristian.d
a year ago
ESB- Extreme Snapback, Din't feel like typing ;)
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ucsgears PRO
a year ago
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Thats How you will profit from AAPL
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