Big 3 Signals
This two-part update includes the Big 3 Signals and the Big 3 Signals MTF (multi time frame) studies. This update simplifies the indicator and produces signals aligned with what Taylor wants to catch. Aka, more A+ Trades!
In this recent update for the first script, the 10x bars have been removed as criteria, and MACD has been added as its replacement. This allows the Big 3 to catch negative momentum divergence in crazy market conditions. Inputs on the MACD have been removed and cannot be changed in the settings.
The Big 3 Signals
The Big 3 Signals MTF
In addition to the arrows, we added colored bars, with the buy signal being a green bar, sell red, and neutral dark gray.
Another tweak to the first indicator is that there are no longer “multi-time frame signals.” This means that a buy or sell signal (on a given time frame) is based solely on that time frame.
The MTF version of the script allows “Multi-time frame signals” with the addition of a weekly signal to catch larger moves but doesn't allow a scan due to the Multi-time frame signals. Scans are compatible with use of the first script.
Big 3 Scans
Scan scripts are imported via shared links from the Big 3 download page HERE, or use the scan script below.
ST_Big3Signals() == 1
ST_Big3Signals() == -1
ST_Big3Signals() == 0
Set the time frame to whatever you want, and you can layer together multiple time frames by adding additional rows in the scanner.
Indicator Updates & Settings :
New buy signal = positively stacked EMAs, bullish MACD (value > avg), with current price above the 50SMA.
New sell signal = 8EMA < 21EMA, bearish MACD (value<avg), with current price below 50SMA.
MACD settings use fast length 21, slow length 34, MACD length 34, avg type
Big 3 takes Taylor's checklists and favorite indicators, and combines them to create the Big 3 signals. Checking the Big 3 labels can help gauge in a matter of seconds whether the market is very bullish, very bearish, neutral, or transitioning from one to the other.
Note on Big 3 MTF: Like any multi-time frame study in TOS, labels will only show for the time frame that the chart is currently set to and higher. In other words, in order to see a 5 minute label, the chart would need to be set to a 5 minute or lower time frame.
Green arrows = bullish criteria is met
Red arrows = bearish criteria met
In order to get a buy or sell signal on any time frame, the time frame ABOVE it must also meet the bullish/bearish criteria. This means, we can ONLY get a buy signal on the daily chart if the weekly chart also fits the bullish criteria.
No bullish weekly chart? No daily buy signal!
Big 3 stands for Trend, Structure, and Momentum. Criteria that when met can lead to powerful directional moves.
The direction price is moving
The behavior and current flow of the market, letting us know if price is moving in a consistent and aligned pattern.
The velocity or power of price moving in a certain direction.
We want bullish structure inside of bullish structure, and bearish structure inside of bearish structure. Bullish 30 minute charts don’t tend to fare well inside of bearish 60 minute charts!
The Big 3 indicator helps avoid:
Looking at multiple indicators at once
Unnecessarily switching between different time frames
Not seeing moves on lower time frames
Missing a good setups or taking setups we shouldn’t be taking
Benefits of Big 3 Signals:
More confidence & confirmation on setups
Finding cleaner setups in a messy market
Faster – Cut prep time!
See opportunities objectively
Easier to use
Kill FOMO and Greed
Signal arrows appear in the following times frames: W, D, 4hr, 2hr, 1hr, 30m, 15m, and 5m.
How do I get all of my Multi Time Frame Label studies to display?
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