Help coding a simple TOS indicator from Mark Helweg webinar

May 4th, 2019, 12:42 PM

I recently watched a webinar from Mark Helweg at 3xOptions called the Monday Method. It's basic premise is that Monday is a pivotal day due to markets being closed over the weekend, placing added significance on the open Monday. It is an option strategy that trades the expiration week entering straight puts or calls during the week and exiting on the close Friday of expiration. The strategy also is automatic and does not rely on market direction. It is basically a bracket trade. The system is not fully disclosed and is offered as an advisory service. Although the rules were not disclosed, it appears that an ATR is added and subtracted from the open Monday (i.e. Mon open price +/- ATR). I assume they use a 5 day period for the ATR calculation but I don't know for sure. You buy a call or put using an "activation order" when the underlying stock price crosses through the open +/- ATR price and exit on the close Friday. It is possible to trigger both ways meaning buy a put, exit the put and buy a call all in the expiration week. The premise is that institutions entering or exiting positions must do so over a number of days due to their position size and the Monday open typically indicates likely direction when price goes through the ATR and the move is usually significant. They have a track record showing extremely good results. This is what i am looking for-

I need help coding a TOS indicator that does the following.
Draw a line on the chart showing the Monday open price +/- an ATR amount (would be best that the period amount can be a variable amount). Probably best if the line colors can be changed also. The line needs to stay on the chart for an entire week. It would also be good if additional "target amounts" could be drawn on the chart also in the form of additional ATR unit amounts (i.e. 2x ATR, 3x ATR). This should be a relatively simple indicator to code. It is important that it calculates based on the Monday open price +/- ATR. Any help with this would be greatly appreciated and I would suggest you try to catch the webinar- It looks like a very promising strategy. Here is a link to the current signup page for the webinar.

Code

https://threexoptions.lpages.co/3x-190501-wall-street-secret-research-3xoptions/

April 28th, 2020, 12:57 PM

You may have already gotten what you need or moved on, but here's something to work with

Code

                      
input length = 5;
input averageType = AverageType.WILDERS;
input timeframe = AggregationPeriod.week;
input showtodayonly = yes;
def h = high(period = timeframe)[1];
def l = low(period = timeframe)[1];
def c = close(period = timeframe)[1];
def ATR = MovingAverage(averageType, TrueRange(h, c, l), length);
input levelUp_1 = 100;
input levelUp_2 = 50;
input levelUp_3 = 25;
input levelDn_1 = 100;
input levelDn_2 = 50;
input levelDn_3 = 25;
def o = open(period = timeframe);
rec weeklyopen =  if IsNaN(close[-1]) then o[1] else double.nan;
plot open = weeklyopen;
open.setdefaultColor(color.cyan);
open.setstyle(curve.short_DASH);
rec levelUp1 = if IsNaN(close[-1]) then levelUp1[1] else ((levelUp_1 / 100) * ATR) + o;
plot l1up = if !IsNaN(close) then Double.NaN else levelUp1;
l1up.SetDefaultColor(GetColor(3));
l1up.SetStyle(Curve.MEDIUM_DASH);

rec levelUp2 = if IsNaN(close[-1]) then levelUp2[1] else ((levelUp_2 / 100) * ATR) + o;
plot l2up = if !IsNaN(close) then Double.NaN else levelUp2;
l2up.SetDefaultColor(GetColor(4));
l2up.SetStyle(Curve.MEDIUM_DASH);

rec levelUp3 = if IsNaN(close[-1]) then levelUp3[1] else ((levelUp_3 / 100) * ATR) + o;
plot l3up = if !IsNaN(close) then Double.NaN else levelUp3;
l3up.SetDefaultColor(GetColor(5));
l3up.SetStyle(Curve.MEDIUM_DASH);

rec levelDn1 = if IsNaN(close[-1]) then levelDn1[1] else o - ((levelDn_1 / 100) * ATR);
plot l1Dn = if !IsNaN(close) then Double.NaN else levelDn1;
l1Dn.SetDefaultColor(GetColor(3));
l1Dn.SetStyle(Curve.MEDIUM_DASH);

rec levelDn2 = if IsNaN(close[-1]) then levelDn2[1] else o - ((levelDn_2 / 100) * ATR);
plot l2Dn = if !IsNaN(close) then Double.NaN else levelDn2;
l2Dn.SetDefaultColor(GetColor(4));
l2Dn.SetStyle(Curve.MEDIUM_DASH);

rec levelDn3 = if IsNaN(close[-1]) then levelDn3[1] else o - ((levelDn_3 / 100) * ATR);
plot l3Dn = if !IsNaN(close) then Double.NaN else levelDn3;
l3Dn.SetDefaultColor(GetColor(5));
l3Dn.SetStyle(Curve.MEDIUM_DASH);

April 29th, 2020, 09:39 AM

smartguy

I recently watched a webinar from Mark Helweg at 3xOptions called the Monday Method. It's basic premise is that Monday is a pivotal day due to markets being closed over the weekend, placing added significance on the open Monday. It is an option strategy that trades the expiration week entering straight puts or calls during the week and exiting on the close Friday of expiration. The strategy also is automatic and does not rely on market direction. It is basically a bracket trade. The system is not fully disclosed and is offered as an advisory service. Although the rules were not disclosed, it appears that an ATR is added and subtracted from the open Monday (i.e. Mon open price +/- ATR). I assume they use a 5 day period for the ATR calculation but I don't know for sure. You buy a call or put using an "activation order" when the underlying stock price crosses through the open +/- ATR price and exit on the close Friday. It is possible to trigger both ways meaning buy a put, exit the put and buy a call all in the expiration week. The premise is that institutions entering or exiting positions must do so over a number of days due to their position size and the Monday open typically indicates likely direction when price goes through the ATR and the move is usually significant. They have a track record showing extremely good results. This is what i am looking for-

I need help coding a TOS indicator that does the following.
Draw a line on the chart showing the Monday open price +/- an ATR amount (would be best that the period amount can be a variable amount). Probably best if the line colors can be changed also. The line needs to stay on the chart for an entire week. It would also be good if additional "target amounts" could be drawn on the chart also in the form of additional ATR unit amounts (i.e. 2x ATR, 3x ATR). This should be a relatively simple indicator to code. It is important that it calculates based on the Monday open price +/- ATR. Any help with this would be greatly appreciated and I would suggest you try to catch the webinar- It looks like a very promising strategy. Here is a link to the current signup page for the webinar.

Code

https://threexoptions.lpages.co/3x-190501-wall-street-secret-research-3xoptions/

Hi mate.

Draw a line on the chart showing the Monday open price +/- an ATR amount - no problem

Probably best if the line colors can be changed also.
no problem

It would also be good if additional "target amounts" could be drawn on the chart also in the form of additional ATR unit amounts (i.e. 2x ATR, 3x ATR).
no problem

Can u text me PM to discuss detail ?

Help coding a simple TOS indicator from Mark Helweg webinar

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Help coding a simple TOS indicator from Mark Helweg webinar