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Wide Range Bar Trading Strategy for ThinkOrSwim

alphonso esposito's Wide Range Bar Strategy

Wide Range Bar Trading Strategy for ThinkOrSwim

I recently watched Alphonso Esposito’s New Mastery Series at TradeSmart University regarding his Wide Range Bar Trading Strategy. It seemed awesomely simple and straight forward, and seems to give good signals to boot, so I decided I would make it even easier for my fellow ThinkOrSwim users to add this strategy to their arsenals. Basically you look for these wide range bars, as defined by Alphonso in the course, and buy on an subsequent retracement of approximately 40% (with custom tweaks explained in the course) back into the range of the bar.

This set of ThinkScripts lets you scan for these types of setups, and additionally it comes with a chart study that plots a signal whenever a wide range bar trading strategy setup appears, and plots the 40% line as well.

Trading It

Most of the parameters can be customized, but are set by default to those explained in the course, except for the minimum volume multiplier, which I just set myself since no specific rule was stated in the course.

The rules are pretty straightforward, but if you want to learn more about how to trade this strategy, you’ll need to sign up for the class at TradeSmart University.

I’m making these available for FREE for a limited time to all my TOS friends, so please help yourself!

UPDATE 12/21/2016 — I’ve been especially productive lately and decided to go ahead and code this into a mechanical strategy that can be backtested on any chart you want! That file will be included now as well.

NOTE: Since I did a bunch more work on this and included a new strategy file now, I’ll have to increase the price from free to a more typical price for a backtest-enabled strategy. Get it while it’s still free!

Use Promo Code: alphonso

$69.99 $49.99 Add to cart

 

A chart of the Wide Range Bar Trading Strategy for ThinkOrSwim.
Wide Range Bar Trading Strategy for ThinkOrSwim. Example signal from the chart study showing the 40% retracement line and the signal arrow.
A stock chart with an example of Alphonso Esposito's Wide Range Bar Trading Strategy for ThinkOrSwim.
Alphonso Esposito’s Wide Range Bar Trading Strategy for ThinkOrSwim. Example entry signal on GPS.
A screenshot of Alphonso Esposito's Wide Range Bar Trading Strategy for ThinkOrSwim properties window.
Alphonso Esposito’s Wide Range Bar Trading Strategy for ThinkOrSwim. Properties window for the chart study.
Alphonso Esposito's Wide Range Bar Trading Strategy for ThinkOrSwim example scan.
Alphonso Esposito’s Wide Range Bar Trading Strategy for ThinkOrSwim. Stock hacker scanner screen with custom code plus average volume filter to make sure avg. volume is greater than 1 million shares/day.
Alphonso Esposito's Wide Range Bar Trading Strategy for ThinkOrSwim.
Alphonso Esposito’s Wide Range Bar Trading Strategy for ThinkOrSwim

 

[youtube https://www.youtube.com/watch?v=hvF6dZDjE1g]

$69.99 $49.99 Add to cart