This indicator is a five custom ticker watchlist that shows seven pre-defined higher timeframes using '#TheStrat' technique and can be used on any ticker from common stock, forex and crypto.
Explanation of 'TheStrat' trading technique ‘TheStrat’ technique works off the basis of labelling whether the focus candle did or did not break any of the previous candles high or low values. There are three possible label definitions; either a 1 candle, 2 candle or a 3 candle.
1 bar (inside) - If price movement on the new candle remains within the high and low of previous candle.
3 bar (outside) – If price movement went above both the high and the low of the previous candle.
2 bar (directional) – If price movement only broke with the high (called a 2-up) or if price movement only broke the low of the previous candle (called a 2-down).
Once labelled the technique then looks for certain combination of these labelled candles (called actionable setups) such as: 2-1-2, 1-2-2, 3-1-2.
What is Full Time Frame Continuity (FTFC) Under 'The Strat' full timeframe continuity is limited to the colour (open vs close) of the candle being either green or red. When higher timeframe align with the 'same colour' is suggest that there is stronger support for that direction of the candle.
How does the indicator work? The indicator will allow you to daily enter up to 5 watchlist tickers and in as close to real time (slight lag) show the developing FTFC of your watchlist tickers and avoids having to switch chart tickers to see the developing timeframe continuity
Example of how to use the indicator A simple example will be the relationship between SPY and VIX and by having the higher timeframe overview of these two watchlist tickers while trading will give potential insights to how the market is trading overall. Some people might also find it useful to see 'consolidation' (1 bar) and 'expansion' (3 bar) highlighted in the timeframe. This feature can be enabled in the settings.
Indicator caveats: = Must run on 5min (or lower) chart timeframe. If not indicator will produce 'runtime error'. = Weekly computation is not 100% reliable due to bug in TV when a month end occurs mid week. = Please change the indicator colour if used on a non-dark theme. = Please note this information is only presented for educational and learning purposes. It is by no means financial advice or provide any form of trading signals.
TO ENABLE, please follow these steps: 1) Add indicator to your chart and open settings 2) Enter which tickers (max 5) you wish to add to your watchlist by enabling the checkbox 3) Decide on the timeframes you wish to view 4) Configure the colouring of the watchlist.
Hope this indicator provides useful and educational information and helps to improve your overall access to information.
Hey there! I am adding this to my chart, but I'm not seeing it appear. I have more than enough space for additional indicators. Do you know what's going on? Thank you!
Edit: My apologies, I see it must run on 5 min time frame. That was the hold up.
cabiniucvladut
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Thanks! Thestrat teach v2 is really good
lr912014
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I love your indicator and use it every day. Do you have a way of adding additional symbols (more than 5)? Right now, I add multiple FTFC indicators so I can have all symbols on one page. Thank you!!
@Loi_, ty and correct. Next to this limit is a runtime (like 40sec) and using 40 exceeded that runtime, hence the 35.
The-Humble-Trader
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This is a very nice and important indicator for the straters who are not have a TOS account. If you can enhance its features and ask for monthly subcription it will be nice. You can add a hammer or shooter sign inside the box of each candle if it is a hammer or a shooter. You cal also increase the number of tickers can be added. also you can add the pevious candle sign (1, @U, 2D or 3) in a smaller font inside the same box to see if there a coming actionable signale on that time frame....it will be really nice to enhance it:) but thank you so much for sharing it will us right now.
ngami7
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@The-Humble-Trader, Really appreciate the comments. TradingView limit the number of request.security calls to 40 (5 rows x 8 columns). Your suggestion, albeit great suggestions, require more data requests that would mean I would have to either remove rows or columns. I appreciate everyone has a different requirement in terms of rows/columns as found this combo to be the most useful. Happy to take personal indicator request for a charge =P
w4rz0ne99
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@ngami7, thanks for this fantastic indi. Can you please make us select any instrument instead of the default 5. Cheers
ngami7
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@w4rz0ne99, Go into the settings of the indicator.. you can pick the TICKERS yourself. Click on the pencil icon to type your own ticker
Edit: My apologies, I see it must run on 5 min time frame. That was the hold up.