Camarilla Reversal Scanners

[Triple J 4]

@dmiles, glad to hear that you are having success with these scanners, and good to see this thread revived.  I’ve had some similar success.  I copied/pasted the original formulas that Matt C provided and have been monitoring the various alerts for the past four months.  Here’s what I’ve seen:

The majority of alerts come from the “S2-S3 Long” and “R2-R3 Short” settings.  There are typically 5 or 6 of these a day, and I’ve developed a tradebook for these that works quite well for me- wait for the price to touch S3 or R3, get a 5-minute candle to close in the direction of the reversal, and simultaneously have two consecutive one-minute candles as confirmation.  I’ll enter when a new 5-minute candle confirms the reversal AND the third consecutive one-minute candle continues the trend with conviction and volume.  I set stop at the base of the previous one-minute candle (which is the second of the three one-minute candles).  I find that forcing myself to wait for a  5-minute candle to complete itself keeps me out of some tests of S3/R3 before the reversal gains its ultimate momentum.  I think of this as a conservative entry/confirmation with an aggressive stop that is justified by the consistency of the set-up.  My trade management is still evolving, but I'll often get a full S3-R3 or R3-S3 traverse, and even if not, I'm able to follow the VPA to manage the trade with partials that typically yield a 2R to 3R return.

The other alerts occur sporadically and I too have not been able to rely on them for a consistent set-up.  For now, the base plays described above are suiting me just fine.  I consider them to be a valuable tool in finding symbols that check the “Where” part of the Cam strategies, and my own entry/stop criteria serves as the “When”.

The symbols that trigger are sometimes also on my Watch list and have catalysts, but quite often they come from “off the radar” as symbols that I would otherwise not be following.  It appears that the volume settings in Matt’s scripts are quite effective at finding symbols that are moving.

I’d love to see some renewed interest in this forum for these alerts, perhaps a new thread, and should the conversation evolve I’d be willing to participate.

[dmiles 19]

@Triple J I can't tell you how happy I was to see a reply so quickly, and thank you for your trade book description. Well done.

When you did a copy and paste of the formulas, did you also use the collaboration link? Just curious, because it uses the labels that TI arbitrarily assigns (U1, U2,U3etc.) which really don't matter, except when the collaboration link is used.  That link does use them, and that has to agree with Matt's labels. That threw me off at first, almost to the point of giving up, until I realized what was going on. Instead of trying to make everything match, I just configured each scanner manually, and then put them all in one multi-strategy window.

The alerts I typically get are from "S3 Long", and "S3-S4 Long" which are basically the same, except that S3 Long uses a percentage, rather than 10 cents, and I have found that it does trigger a little sooner, as intended. The other one that usually gives an alert is the "R3-R4 Short", and the "R3 short".

Today for me, $RIOT worked like a champ. I like the way you wait for the setup, I'm definitely going to be using that, except that I will probably use a stop just below S3, because many times I do see that level re-tested before it does the full reversal. I also quite often see it go to a moving average, then retest, and then go.

Another alert I got was #XPEV, which actually dropped a little below S4, went back exactly to S3, then went back down to S4, and bounced for the rest of the day. I was still in $XPEV when Thor came on, and he took a look at it. He pointed out the levels on L2 that I was already looking at, so I did an add when it ate through that bid  at $49.67. I didn't get the move I was looking for, but the add allowed me to take another partial, and then I let the rest run until the end of day.

Thanks again for the reply, and I look forward to working with you, and whoever else decides to jump in! I'm getting ready to start the PCT bootcamp, as I think I would like to develop this further, along with developing some additional cam pivot strategies. I'm hoping the feedback I get from the BBT mods will help with all of this.

 

Edited January 3, 2022 by dmiles
Got my tickers mixed up, didn't realize it until I started journaling.

[Triple J 4]

Hi @dmiles, I did not use the collaboration link.  I was new to TI when I installed these and kind of fumbled around until- oila!- I got them to work.  We might've ended up with slightly different configurations, because I don't get many of the "S3 Long" and  "S3-S4 Long" alerts, and I didn't get RIOT today (although I can see why it would've triggered).

I did get XPEV, and lost a morning trade on it, but came back to catch that nice afternoon run.  I find that if I lose a first trade that I believe was set up properly, I'll often hit a second attempt when it sets up again with my criteria.  Conversely, if I hit the first trade I find that going to the well for a second hit is not as successful.  I do need to work on adding to trades, though, because that seems worthwhile, especially on a setup that starts near S3 and reaches S2 with momentum.  Meanwhile, if I catch a successful traverse from S3 to R3, I do find there's merit to monitoring for a potential R3 to S3 traverse on the same symbol if it is an Inside day.  And vice versa from R3 to S3 and back again.  I call this "Riding the S3-R3 Elevator".

At least there's two of us who see the merit in this scanner!  Kinda surprised there hasn't been more dialogue on it either in this forum or in chat, but glad to know that you'll be working on it in bootcamp (I had hoped to join this one but the day job schedule for now precludes it).  It'd be cool if Matt C were to re-surface too, but haven't seen anything from him since this was first created.

[dmiles 19]

Got alerts on $HOOD, $RIVN, $BEKE, $SPCE, $AMC, $PFE, $SNAP, $PBR, and $AAPL this morning. Absolutely nothing bounced. But hey, if this was 100%, this thread would be a lot more popular. 😂 I got called away to the day job mid morning, but didn't see much activity when I reviewed the alerts.

[dmiles 19]

All kinds of great alerts today! Felt really weird, I was waiting on $F to set up long, while Andrew was short. Turned out to be an outstanding trade, even though I missed the best entry, because I was already in another trade. Posted the $F trade on Twitter as requested by Carlos. Great day today!

 

[Triple J 4]

@dmiles, I caught that same $F trade today for 3.25R!  Yes today was quite an active day for alerts, I even got some of those S3-S4 Long alerts that I rarely get.  $F also came back as an "R3-R4" Short play after the nice run, and I played that too as the "Elevator" play that I described previously.  It stopped me out at break-even.  There was a flurry of late afternoon signals, too, which are pretty rare, and they did not work out.  I also missed a nice $PLTR short in the morning.  Maybe it's just you and me for now, lol, but glad to see you using this successfully.

[dmiles 19]

I don't know if you caught Thor's 1:00 session today, but he mentioned a cam scanner that he and some other folks are working on that doesn't use TI. Obviously he didn't want to tie up his whole session talking about it, but I sure hope this turns in to something we can use, or even contribute to!

[mortforshort 3]

The key to setting this thing up appears to be getting the numbers to match.. s3 scan equals the S3 Das uses.  My custom formulas are full and had to delete various test scripts to make space.  Pre and Post scripting of those pivots I don't have included.  The symbols for close in premarket get included into todays close data instead of yesterday for calculations.  Excluding pre post check box in das helps to get calculations to match.  When testing for these levels to match up to live data TI would miscalculate at times and send me scratching my head.  I think this was due to the high level of scanners I had running doing calculations and my cache not updating across the board. 

Was also inspired to do similar scans for premarket high and low breaks, atr expansions,,, always short on time or money. But but but .. I have a model I am testing as a awareness level finder verses a trade trigger. This will hopefully allow me to view levels with enough time to execute trades. Don't want to chase only confirm

[dmiles 19]

@mortforshort do you have cloud links for these scans, and if so, would you be willing to share? It sounds like you have somewhat limited resources. I have a lot of storage space, and several computers. I would be willing to collaborate on anything that you would be willing to share. I also have a considerable amount of cloud storage if needed. Thanks!

[mortforshort 3]

I could share but its useless with out all the custom formulas lined up to match. The limited resource is actually on the Trade Ideas side not giving more than 100 custom formula slots not that I need more scanners..  lol.  This made me clean out some experiments/tests. I find I like to use a toplist setup for the levels instead of the alerts (left side of screen) lots of other scanners for about everything. Alerts wont always go off in consolidation areas. Each level gets its own toplist in a dock s3-s8, r3-r8.  With the new Race Stock feature in Trade ideas this will let you see runners instead of straight alerts around zones of the level.  Simplifying the analysis paralysis.. into more great opportunity. I dont run these all  the time and have more.. Like to look at custom stuff when its added to the scanners. Moving away from alerts into cherry picking zones/levels so I can enter using the tape smarter. Currently working on developing a Smarter watchlist/s? to integrate into levels. As I move along a bit further I will share  more. Also like to mix technical analysis in to see directional change tendencies  RSI trends, stochastics.  Some great levels for bouncing are previous open prices and premarket hi lows.  As I been back reviewing filtering these appear regularly to start the traverse bounces.