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Weekly Option Trader
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Weekly Option Trader

  #181 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
Posts: 2,027 since Jul 2011
Thanks: 2,211 given, 1,551 received

% ATR range values as TOS "Marketwatch" column

I was trying out the functions mentioned for coming up with the TOS rangebar values based on the percentages suggested: 8%, 5% and 2.5%
Here's a couple of scripts for columns with the values in ThinkOrSwim "Marketwatch" tab. Thanks.

#(for 8% of ATR)

def atrresult = ATRWilder(ATRlength = 7);
def resultp08 = (atrresult * .08);
assignBackgroundColor(if resultp08>1 then color.green else if resultp08<.081 then color.gray else color.current);
plot result = resultp08;
result.assignValueColor(if resultp08>1 or resultp08 <.081 then color.black else color.gray);

#(for 5% and 2.5% of ATR; change .05 to .025 for 2.5%)

def atrresult = ATRWilder(ATRlength = 7);
def resultp = (atrresult * .05);
assignBackgroundColor(if resultp>1 then color.green else if resultp>0 then color.black else color.current);
plot result = resultp;
result.assignValueColor(if resultp>1 then color.black else color.gray);


Attached: .jpg & how to set it up on TOS

Attached Thumbnails
Weekly Option Trader-tos_atr_columns.jpg  

Last edited by Cloudy; July 7th, 2012 at 05:13 AM.
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  #182 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 407 received

Close Cloudy

Cloudy,

Very Close to what I am already doing...

Here are some of my codes and pics of my scan:

All green and I am looking for longs, all red and I am looking for shorts.... would/do work very well with "Allistah's" option spreads.

Some of my codes in my scanner:
ATR Code:
declare lower;
input ATRLength = 7;
def ATR = AvgTrueRange(high, close, low, ATRLength);
plot ATR1 = ATR * .08;
ATR1.assignValueColor(if ATR1>0 or ATR1 < 0 then color.white else color.current);

Yesterday High versus Today's Close Code:
declare lower;
input price = close;
def M9 = high(period="day")[1];
plot result = if close > M9 then ((price-M9)/M9) else ((price-M9)/M9);
assignBackgroundColor(if price>M9 then color.green else color.red);
result.assignValueColor(if price>M9 or M9>price then color.black else color.current);

Yesterday Low versus Today's Close Code:
declare lower;
input price = close;
def M9 = low(period="day")[1];
plot result = if close > M9 then ((price-M9)/M9) else ((price-M9)/M9);
assignBackgroundColor(if price>M9 then color.green else color.red);
result.assignValueColor(if price>M9 or M9>price then color.black else color.current);


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  #183 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
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Favorite Futures: CL,YM
 
Posts: 2,027 since Jul 2011
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Thanks Vikings! Glad I came somewhat close. Interesting stuff on helping with direction for stocks or options plays, thanks.

note about my script: I put the ATR < certain threshold for a highlight hoping it'll help find stocks which are slowing down into consolidation to find possible candidates for delta-neutral options spread plays such as calendars or strangles. Haven't tested it out yet though.


Last edited by Cloudy; July 8th, 2012 at 10:17 AM.
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  #184 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 407 received

Mad Scientists today..

Over the weekend my wife asked me if I could slow things down for her, but not yet effect the results. Well I think I may have done that for her and for potentially other traders who like to trade at a slower pace.

I am still going to stick with range bars, but this time based off of 1 hour bars instead of daily bars. Since I am a very big FIB guy I am working on a combination of 21 (1 hour bars) calculating the ATR for those 21 bars then I multiply them by a very strong fib retracement number (61.8%) and the results become my 1 hour range bar. The results today were very good; actually impressive.

Just keep giving away all my secrets....LOL Secrets - One Republic with Lyrics ~ Full Song!! - YouTube

Oil too was very good today when I focused on it as I spent a lot of time on this longer range instead today with the weeklies. Wife loves it too, makes her life much easier she says and it does.

Anyhow I am going to keep this short and sweet tonight.

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Have fun tomorrow!

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  #185 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
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Posts: 188 since Oct 2011
Thanks: 26 given, 407 received

Fantastic Results Today

Experiment a huge success, charts speak for themselves.

Can't get any easier and NO rush either; wife loves it. Now I can devote fulltime to my futures and let her run with the weeklies.

Take care and have a great day tomorrow....

Ranges for tomorrow:

AAPL $ 2.47, AMZN $ 1.04, AXP $ .25, BIDU $ .59, CAT $ .51, FFIV $ .78, GOOG $ 2.12, GS $ .44, JOY $ .48, LNKD $ .96, LULU $ .41, LVS $ .24, MA $ 2.47, NFLX $ 1.01, PCLN $ 3.32, SINA $ .36

/ES $ .75, /TF $ .60, /CL $ .12 (CONSERVATIVE) OR $ .06 (FAST)

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  #186 (permalink)
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Missouri
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: AMP
Favorite Futures: ES
 
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Thanks: 169 given, 33 received


Vikings1 View Post
Experiment a huge success, charts speak for themselves.

Can't get any easier and NO rush either; wife loves it. Now I can devote fulltime to my futures and let her run with the weeklies.

Take care and have a great day tomorrow....

Ranges for tomorrow:

AAPL $ 2.47, AMZN $ 1.04, AXP $ .25, BIDU $ .59, CAT $ .51, FFIV $ .78, GOOG $ 2.12, GS $ .44, JOY $ .48, LNKD $ .96, LULU $ .41, LVS $ .24, MA $ 2.47, NFLX $ 1.01, PCLN $ 3.32, SINA $ .36

/ES $ .75, /TF $ .60, /CL $ .12 (CONSERVATIVE) OR $ .06 (FAST)

Attachment 80882

Attachment 80883

I wanna be like you when I grow up!

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  #187 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 407 received

Thanks SeeT!

But remember to be VERY careful of those spreads....LOL


SeeTrader View Post
I wanna be like you when I grow up!


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  #188 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 407 received

Tip of the week....

Do not do Java updates prior to the open.

Some very nice trades today, but I couldn't get into my trading platforms because of the Java update I took this morning. I even got locked up in TOS (which happens all the time anyway). Finally got in around 1:00 CST and got a nice trade on AAPL but that was the extent of my trading today.

Take care and have a great day tomorrow...

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  #189 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 407 received

Ranges

Ranges for tomorrow:

AAPL $ 2.76, AMZN $ 1.22, AXP $ .28, BIDU $ .64, CAT $ .51, FFIV $ .71, GOOG $ 2.48, GS $ .43, JOY $ .49, LNKD $ 1.00, LULU $ .50, LVS $ .26, MA $ 2.63, NFLX $ .95, PCLN $ 4.09, SINA $ .39

/ES $ .75, /TF $ .60, /CL $ .10 (CONSERVATIVE) OR $ .05 (FAST)

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  #190 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
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Posts: 188 since Oct 2011
Thanks: 26 given, 407 received

Where is the market headed??


IMO, down, but it really doesn't matter I will go wherever it wants to go. (Earnings have been sucking huge, so?)

Levels to watch on SPX:

Down:
1333.20 1st
1326.19 2nd (then hang on)

Up:
1362.93 (printing presses have fired up)

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