input Mkt_Start = 0930;#hint Mkt_Start:Show market start time e.g. AddLabel(1, "Green is HH cloud", Color.GREEN); . - The use of the word 'reference' is optional but, if 'reference' is omitted, the () must always follow the studys name. Scan for price crossing the upper/lower line of the Standard Deviation Channel (SDC). Futures and Forex are a different story. Also configure the chart to synchronize the cursor across all grid charts via Chart settings/general tab/Synchronize crosshair position. For an example, let us create an exponential moving average on our BTC data: Labels are boxes of info placed at the top-left of a study. Left extension. This section holds questions and support requests related to our premium ThinkorSwim indicators. Clicking as shown will take you to 'Chart settings/time axis' where you set theexpansion bars to the right'. Past performance of a security or strategy is no guarantee of future results or investing success. LevelLine.SetDefaultColor(GetColor(7)); "Span A", Ichimoku(). means that the data is variable 'inputted' data defined by the user. else if price == VWAP then "VWAP" Defines the color of the label box. Vol.SetPaintingStrategy( PaintingStrategy.HISTOGRAM ); Start a new thread and receive assistance from our community. This means that 'nice' is the with that fold has been keeping tract of internally and '+ idx3' is the current loops calculated value that is to be added to nice. Another example that you may try as a work-around is as follows: Realize also that overly complex if-conditions are only one aspect that generates the 'too complex' error. "UpperBand" is greater than KeltnerChannels(). However,EachBar.setHiding hides that point when its condition is true i.e. The defaults parameters are price = close, length1 = 15, length2 = 30. Specify begin and end points of regression line: these will be snapped to the closest bars. Granted that not all personal preferences are the same. That is literally just a copy and paste job on the linear regression channel that comes free in TOS anyway, at multiples of 0.375. This RSI is in conjunction with a MACD. Using the charts lower-right symbol to keep track of what agg you are currently using. scan.SetDefaultColor(Color.White); "Span A", Ichimoku(). Input ShowBubbles = yes; def MovAvg50 = Average(close (period = "Day"), MA1_length); As converting from PDF is a lot of work, This is a work in Example: Thanks to everyone here i was able to create a strategy i use into a tos strategy to backtest. advances = close("$ADVA"); VolAlert.SetDefaultColor( Color.GREEN ); Below is the code to do normalization and an example. Comment: The 200-day and 50-day are popular moving averages used to determine bullish or bearish movement. Traders of . onceperchartup.setLineWeight(3); This fold counts the number of times, in the last 20 bars, the SDr (std dev of the change ratio) has fallen below the SD. Click 'studies' then 'Add Study' then 'Compare With', If none of the ready-made comparisons have what you want, then click 'Custom Symbol.'. Frequently Asked Questions. Using multiple time frames to plan entries is smart ( See Article ). Then plot each condition. Forex trading involves leverage, carries a high level of risk and is not suitable for all investors. case "Advance/Decline Spread (Issues)": If you are new, or just looking for guidance, here are some helpful links to get you started. Set it too high and you may unnecessarily be wasting server capacity. Comment: There are times when one wants to use a study-within-a-study, The LinearRegressionCurve and ProjectionBands are builtins used here to plot the linear regression of the upper projection band. A simple example is: plot MyMACD = reference MACDHistogram; Occasionally a study and a function may have the same name e.g. TOS-and-Thinkscript-Snippet-Collection. input price = close;#hint price:This is the variable (11 choices) that will be plotted. Market volatility, volume and system availability may delay account access and trade executions. No matter what the timeframe, in those contexts (scans, etc. Fold will normally work in a scan and custom columns. Since it is in brackets, it is optional if there is a with . SecondsFromTime and SecondsTillTime use a HHMM format. define a recursive variable. You cannot operate on other variables or do anything within the fold. Example 11 #hint: Uses the DMI to scan the up-trending ADX, Example 12 # by Pacodeveux in Mr. Otherwise, you may not get an error but an 'ifthenelse' statement may not print. Dynamic scans are particularly vulnerable and will become ineffective if a custom referenced study is renamed. "Upper_Band"[1] and MACD() > 0 and MACD() > MACD()[1]. else if price == low then "low" For value1 = 85 and value2 = 38 then: 85 /38 = 2.24; 2.24 X 100 = 224%. Any suggestion for improvement or inclusion are welcome. If the index was to be 1 thru 10, the current value of price would not be included in the average because the first value would be price[1]. At times coloring may also be used to do the same. Comment: If you are learning TS, this is a good example of a study-of-a-study i.e. Complexity may become an issue especially if the servers are loaded up. Be sure to set the time aggregation you desired i.e. This will create an error. is the description you want displayed when the bubble is clicked. The header text color is set to the first color definition found in the code. Comment: Using the Hull moving average in the MACD in lieu of the SMA or EMA produces a more sensitive/responsive Naturally the aggregation is set to what you want to count like days, hours, 15 min bars, etc. Comment: This is an excellent example of a simple recursive that counts, Comment1: Pre-market scan and chart may be had by changing 'End' to 'Begin' in the above code, Comment2: To display pre and post- market chart displays, click the wrench to open 'Chart Settings' and then go to 'equities' and check 'Show Extended Session'. Before I make any adjustments to the code, I also wanted to look at some different settings. Comment: If the above code was in a saved study named 'MyPriceTrend', you would run it by entering the following code in the custom scan location. "Span B"), Ichimoku scan for crossing below the cloud, close crosses below Min(Ichimoku(). LazyBear Custom Indicators for TradingView *** Keep scrolling, there are more than 6 pages of indicators listed :) *** If you use any of these indicators regularly, appreciate a small donation :) DAYS AGO, Return 'the day-of-the-week' of the first bar of the chart, SecondsFromTime() & SecondsTillTime() & others, C-'BATTLE OF THE BANDS' RE IMPLIED VOLATILITY, C-VOLUME LABEL AS A PERCENT OF AN INPUTTED X-DAYS-AVG-VOLUME, T&C-EXAMPLES OF THE USAGE OF THE 'SUM' FUNCTION, C-HOW TO SHOW WHEN A CANDLE PATTERN EXISTS ON A CHART, C- IMP_VOLATILITY() PERCENTILE PLOT WITH LABELS, C-MINUTES-AGO SINCE A TURN-UP OF A MOVING AVERAGE, C- NORMALIZED MACD AND STOCHASTIC PLOTTED WITH A SQUEEZE INDICATION, C-ILLUSTRATION OF SAME RESULT WITH DIFFERENT CODING, C&S-FLEXIBLE 200-DAY MOVING AVERAGE PLOT AND SCAN, C-AN ALTERED 'PERCENTCHG' TO MAKE IT MORE USEFUL, C-LINEAR REGRESSION OF THE PROJECTIONBANDS STUDY, C-CLARIFICATION OF THE FOLLOWING THREE COMPARISON STUDIES, C-COMPARISON OF ALL SECTORS OF THE S&P 500 (SPX), C-PERCENTAGE PRICE OSCILLATOR (PPO) WITH COMPARISON SYMBOL, C-'Ichi_TK_Exit_Warning' --- AN EARLY ICHIMOKU T-K EXIT STUDY, C-'IchiOneGlance'--ALL MAIN ICHIMOKU CRITERIA IN DASHBOARD FORMAT, C-'Ichi_Signals'IDENTIFIES ALL MAJOR ICHIMOKU SIGNALS FOR LEARNING OR USE, WLC-PRICE-TO-EARNINGS (P/E) RATIO FOR A WATCHLIST COLUMN, WLC-WHEN A DIVERGENCE EXISTS BETWEEN PRICE AND THE MACD, S-DMI_OSCILLATOR SCAN FOR TRENDING-UP STOCKS, S-SCAN RSI UNDER 20 & CLOSE > 200-DAY SMA, S-SCAN CROSS OF STANDARD DEVIATION CHANNEL, S-NOTEWORTHY RESOURCE FOR PREDEFINED SCANS, S-NEW BULLISH CLOSE ABOVE THE ICHIMONU CLOUD, S-CROSSING ABOVE & BELOW THE ICHIMOKU CLOUD, T-A REFERENCE RECALL OF A STRATEGYS RULES (SETUP), T-USING MULTIPLE TIME FRAMES TO PLAN ENTRIES, T-WIZARD ACCESS FOR EDITING EXISTING STUDIES, T- VERTICAL LINES AT MARKET OPEN AND CLOSED TIMES, T-EASILY VIEWING CHARTS OF STOCKS IN A LIST, T-NAVIGATION VIA KEYBOARD HOTKEYS vs THE MOUSE, T-DEFINING AND APPLYING CONDITIONS IN A STUDY, http://demo.thinkorswim.com:7001/manual/metal/thinkscript/reference/Functions/Others/If.html, http://demo.thinkorswim.com:7001/manual/metal/thinkscript/reference/Reserved%20Words/if.html, https://tlc.thinkorswim.com/center/charting/thinkscript/reference/Functions/Look---Feel/GetColor.html, https://www.thinkorswim.com/tos/thinkScriptHelp.jsp?laf=dark#constants, http://en.wikipedia.org/wiki/List_of_colors:_A%E2%80%93F, http://en.wikipedia.org/wiki/X11_color_names, http://tda.thinkorswim.com/manual/metal/thinkscript/tutorials/advanced/referencing/other%20study.html, https://tlc.thinkorswim.com/center/charting/thinkscript/tutorials/Chapter-13---Past-Offset-and-Prefetch.html, http://groups.yahoo.com/neo/groups/TOS_thinkscript/info. else if price == hl2 then "The price-variable selected is hl2 = " + Round(hl2,2) `AddLabel(yes, weeks + " Weeks till expiration", color.YELLOW);` produces the same label as above. crossUp.setLineWeight(3); Using the 'pan' tool This is the abridged version using a simple moving average for the nine price choices. : where ???? When the counter gets to 5, fold stops and there is no results related to loop 5. You will need to use a recursive variable for the counter. I find that frequently changing the timeframe of charts is much easier to read when I have vertical lines as market start and end times. Mobile compatible. While 'percentage view' is activated, place the cursor-line over the desired bar and right click. Note: this action will not recalculate the whole channel, but just extend the existing lines. BollingerBandsSMA(). NOW/B4 is the "RATIO", In words, final value divided by the original value; minus one; times 100. Line, Bar, Candle, or the color. AddLabel is an excellent tool to observe a value for debugging purposes. Defines the time scale value corresponding to the begin point. useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. to this work for ideas and techniques. The volume histogram; 2. are different from the normal chart aggs. If your definition of the label text involves long and multiple 'ifthenelse' statements, to insure that they all print, enclose each 'ifthen else' statement in parentheses e.g. '(ifthenelse)'. #The 'Inputted Parameter' has a choice of eleven different parameters The use of the TOS 'SequenceCounter', for intra-day trading, has an advantage when the count can be viewed to multiple aggregations simultaneously. It is included here for its presentation value. Style. Additional examples will be added as they may surface online and in the chatroom. Working perfect now! In order to add the regression channel to chart, choose it from the Active Tool menu. input pct = 25.0;#hint pct:Plots an arrow when volume exceeds the average by this percent stock currently is. You would use 'CompoundValue' to prevent the longest reference being used by initializing the affected calculation with the 'CompoundValue' function. I thought it might be interesting to share a very basic Linear Regression Trading Strategy, and then see if we can build on it to improve results. First of all, anything within brackets is optional. To avoid that, you can plot a line at the top of the chart at a value above the plots data. Coefficient. The user may select any polynomial factor between 1 (a straight line) and 6. range (low to high). Comment: Clouds create nice looking charts. In the above HMA>HMA[1] is the condition that says IF the current HMA is greater than the previous value of the HMA, i.e. useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. By the way, you can identify a recursive variable definition when the variable itself, in this case 'count', also appears on right side of the equal sign/equation like, in this case, 'count[1]'. Returns the date of the current bar. switch (choice) { Return to 'drawings' and Standard deviations follow the 689599.7 rule. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. HMA > HMA[1] , THEN paint the plot with the Up color which is defined as color(1) OTHERWISE/ELSE paint the plot with the Down color which is defined as color (2). Definition = 'Linear regression' is a mathematical procedure know as the 'least-squares method', used for drawing the best straight line thruogh a group of data points. Code related to such a bar is below: Comment: HideBubble() Makes the last value bubble of a plot invisible. You can tweak it in the input or the code how you see fit for you. The people on the ThinkScript Lounge and Yahoo TOS_ThinkScript generously contribute much time and effort helping those learning and using ThinkOrSwim and ThinkScript. declines = close("$DECA"); This is interesting because it illustrates the concept of the fold and def being applied to every bar. If most datapoints are close to the average, the SD will be low (i.e. === below items not needed for a scan # 'Pre-defined' and 'built-in' are synonymous when referring to studies that are provided by TOS within the program. Comment: The builtin 'PercentChg' has been altered to allow inputs for loAlert and hiAlert to be less than one. If that trendline holds it will CIT stock to bounce from here but if it breaks that will be a mjor reversal to downside . Lower.HideBubble(); Otherwise it is false (0). Comment 2: Thinly trader stocks may not have a bar at the time defined. An aside: A calculated value of -0.0331 will be formatted with 'AsPercent' to show the below label in cyan. The default parameters are BollingerBandsSMA(). Giving the grid a name allows you to call it up whenever you want. input GapPct = 0.5;#Hint GapPct: The gap-up percent Trading higher timeframes in futures can be rather inefficient for many traders as they do not have access, capital, and/or the stomach to trade positions for that long. Specify begin and end points of regression line . RSIWilderCrossover: The RSI Wilder Crossover scans for an overbought-oversold indicator of specified levels. FIRM, LONG_DASH, MEDIUM_DASH, SHORT_DASH, POINTS, SHORT_DASH is the default value of 'SetStyle'. Set agg = day. Fast Stochastics; 2. TOS has defined ten colors corresponding to index numbers on two different background colors as below: The colors are used via the function 'GetColor(index number);' Example: GetColor(1) as used in the HullMovingAvg previous topic. The first value is getValue(price,n) or price[0] . Also if the "RATIO" (NOW/B4) is less than zero then the percent change will be negative. The default length = 12; plot FallingMomentum = MomentumCrossover(crossingType == CrossingType. Also the look-back and the look-forward lengths do not need to be the same. Alternate 3: Plot a dot below the bar that crosses and only that bar. This procedure is applicable for all saved custom studies. This subject is about including existing studies in your code 'by reference' in lieu of duplicating its actual code. MA50.SetDefaultColor(Color.ORANGE); That is, that a data distribution with a 1 standard deviation (SD) contains 68% of all data. Description. For more information, please see our The following code will establish those markers. The names assigned and are persistent variables. For example 4-days is a column agg choice but is not a choice of the chart TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. Only the right-most parameters may be dropped off and those will then take on their default values. Clients must consider all relevant risk factors, including their own personal financial situation, before trading. In general, success in terms of and algorithm of actions, and not some magic scripts. Main Phone Number: 248-960-7060 | Email: building@commercetwp.com. You may also assign a text-name, for later use, to any color you create via. Here is where highlighting hoovering is set: TOS has many valuable resources that may, for some, be hard to keep track of. def barnumber = barnumber(); Notice that the colon is placed after the input variable name (in this case Length). else if price == IMP_VOLATILITY then "imp_volatility is not a valid choice" Also, this is a simple clear example of how the 'switch; function operates. The word 'double' is often vague in its meaning in ThinkScript but it means a floating-decimal-point-number of double precision in programming terminology. It would be OK to set it a little higher than you know is needed. The script below may be useful. All four below produce the same result and also illustrate the ways to use references. def HighestHigh = If(price > HighestHigh[1] and MktIsOpen, price, If(MktIsOpen and !Bar1, HighestHigh[1], price)); This code that will check for "daily" average volume greater than 200,000 in the last 20 days, meaning that the stock should have traded at least 200,000 shares every single day for at least the last 20 days. The emphasis herein is for learning TOS and ThinkScript from the ground up. Here is the situation in a Edit Studies example. This form is a function and returns a type of double that is very useful for the if-then-else statements/expressions when you are processing numbers and nesting. The coding of these may be copied and reused in your own studies but built-ins cannot be changed. That scenario gave rise to a request for a custom column that tells the minutes since a stock made a turn up. Likewise 2 SD contains 95% and 3 SD contains 99.7%. declare lower; def Lowest_Low = If(MktIsOpen and Show, LowestLow, Double.NaN); plot HH_LL_Pct = ((Highest_High / Lowest_Low) - 1) * 100; scan = chg -percent; 930 addLabel(!ShowBubble,"%-value-bubbles available when above " + Ref_val + "% reference line", Color.white); Arrow.SetLineWeight(5); "Span B"). The following code, placed as the top lines in your study, will reset the header text color and affect nothing else except a shown below in 'edit studies'. Inside the red box you can trade off both sides of the channel. onceperchartdown.hidetitle(); If each item in the enums list i.e. A swing low is the lowest low looking a few bars back and a few bars forward. The above is a study named Bar_Number_Plot_Interval.txt available at http://mytrade.com/StanL. An example is -- input Length = 10 #hint Length: The number of bars used to calculate the average. To enhance the looks of a histogram, plot the same histogram data as a line and format that line as follows. As discussed in GetValue below, studies may be used in the Fold function especially in the do . else if type == type. this recursive variable. The most expeditious search is looking over the TOC or using 'find' in the TOC as opposed to using 'find' throughout the body of the document. So when is it needed? Use of '' and "" Often the single and double quotes are used to identify precise coding, words or statements whose use is not intended to include the quote marks themselves. Example 5: Uses sum to look for a divergence. The procedure for charting the stock is different in the two locations: In the left panel, highlighting the stock will chart it: In 'Market Watch/ Quotes', clicking on the 'Send To' button (in this case the green square) will chart the stock. Conditions may be nested as in this example: Note in the above, since color.green, color.white, color.red and color.black are constants and not double variables, the if-expression must be used and that requires the presence of all IF..THEN..ELSE parts. Comment: This counter can be easily converted to counting whatever you want. For example, you may want this to show based on 2 weeks in lieu of 3 weeks. If the close equals the open then plot the (low + high)/2 . EMAs are great but so many times a fast line will cross a slow line but then turn right around and un-cross. Comment: 'NumberFormat.TWO_DECIMAL_PLACES', 'NumberFormat.THREE_DECIMAL_PLACES' and 'NumberFormat.DOLLAR' are the three choices that can be used with 'AsText'. The Learning Centers 'charting/ThinkScript' ( Click here to see it ) is a must read for all newcomers to ThinkScript. This is useful when assessing price changes and comparisons. Uses the data of the entire plot. Use a month agg and it will tell where in the last months range the stock currently is. #def AggPeriod = getAggregationPeriod(); def Pct_Avg = Volume(period = AggregationPeriod.DAY) / Average(volume(period = AggregationPeriod.DAY), length) * 100; AddLabel(yes, "Todays Vol = " + round(Pct_Avg,1) + " % of the " + length + "-day-average" ,color.PINK); #Hint: Shows a label of current Volume as a % of the input Period Average Volume\n Colors Label based on current Volume being > or < Average Volume. StanL did to live on. ', ParabolicSARCrossover: Scans for the Parabolic SAR crossing the price plot close. Clicking the 'finger up pointer' as shown below: Clicking 'style' then 'Chart Scale' to bring up the same menu as above. This code can be used by having two custom columns with different aggregations like 5-mins and 15-mins. The do may be of numerous types. Join useThinkScript to post your question to a community of 21,000+ developers and traders. Comment: The AddChartBubble has coding worth studying. You may have a label take on the same color as a plot. to +100, or whatever you want. Using the chart settings directly This free tool will help you to get the RGB values for any color you desire to compose. If you compare this to the LinearRegCurve be sure to use the same number of bars input for each study. This can be a 'yes' or 'no', or any condition statement or a reference to: (1) a previously defined condition statement; or (2) an input true/false value. The study by default only shows the latest crossing to free up screen space for more awesome studies.\n Enjoy - Jesse (author on the Mr. The '[then]' above means that it is optional but it is recommended that it always be used for clarity. Hey everyone. Clusters are powerful points for buy/sell decisions. As initially said, it could be superfluous lines in your code retained when converting a study into a custom column. def crossingdown = price crosses below avg; If most datapoints are widely scattered, the SD will be larger (i.e. def count = if crossingdown or crossingup then barnumber else 0; plot onceperchartup = if MostRecentOnly and crossingUP and count == highestall(count) then low else double.nan; plot onceperchartdown = if MostRecentOnly and crossingdown and count == highestall(count) then high else double.nan; onceperchartdown.setPaintingStrategy(paintingStrategy.BOOLEAN_ARROW_down); Much credit and thanks are due those people. The labels will then have their centerline equal to the value of the line. }. So if 'isnan(close)' is true i.e. A plot of the ADX is optionable. advnDecl = AbsValue(advances - declines); For example, this symbol indicates when scan code is included. def = fold = to [ with [ = ] ] [ while ] do ; Each component of the fold function will be explained separately. plot d = Doji();# If a Doji is present Doji() is true.The below lines format what to show at that location. The space you panned for will be recorded in 'Chart settings/time axis/expansion area'. Length. The label function is AddLabel(boolean visible, Any text, CustomColor color); and has three components. ' RefLine.SetLineWeight(2); addlabel(yes,"Vol as % of " + VolAvgLength + " agg-bar avg volume = " + aspercent(Round(data,2)),if data < 0 then color.RED else color.GREEN); #hint: Plots: 1. The user found those time differences between the two custom columns pertinent in his decision making. A horizontal 0% line will appear accross the chart at the value of the selected bars close. Defines whether the line should be drawn as solid, long-dashed, or short-dashed. else if price == open_interest then "The price-variable selected is Open_interest = " + Round(open_interest,0) level = 1; To comprehend a recursive statement, start with the simplest in concept. else if price == hlc3 then "The price-variable selected is hlc3 = " + Round(hlc3,2) You are using an out of date browser. Plot PAC_below = PriceAverageCrossover( averageType = "Exponential", crossingType = "below").signal; The above reads 'scan for when the 15 bar exponential moving average crosses below the close'. The text font color is always black. scan.SetLineWeight(5); However, there are a number of places in TOS like Study Filters, Study Alerts, Custom Quotes, and Conditional orders that are allowed to use referenced studies. Def Example1 = sum(low > Average(close, 21), 5) == 5;# Is true when the 21-bar-average-of-the-close exists (is true) for the last 5 consecutive bars. ` A time is always associated with a bar. There are three forms of if statements. crossup.setPaintingStrategy(paintingStrategy.BOOLEAN_ARROW_UP); Characteristics and Risks of Standardized Options, Trading Forex: What Investors Need to Know. When you want to move a plotted arrow you can place it with the 'values_above' or 'values_below' painting strategy constants. I think the settings I use are the best ones, I have tried different values over the last several years, but these seem to work the best across all time frames. We'll run it in the context of three different indicators. Wouldnt it be nice to move thru the list looking at a chart for any stock that you want. Multi variable linear regression model with 50 percent of the data used for training. Def Example 8: The following code is used to scan for stocks having future earnings. ( exclamation mark called "bang" ) is a logical NOT perator. input type = {default "Advance/Decline Line", "Advance/Decline Line (Breadth)", "Advance/Decline Line (Daily)", input MA2_length = 200;#hint MA2_length:Input a MA2 length : There are two ways of referencing constant inputs : smoothingType = "SMA" and smoothingType == smoothingType.SMA are equivalent.The first is the short syntax ("SMA"), while the second is the full syntax . Comment: Use the DMI along with the ADX. advances = close("$ADVN"); berlin wi high school basketball,
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