Repaints Zero Lag Zig - Zag For ThinkOrSwim

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This was converted from TradingView. After a few enhancements I find it useful. I use it on 4 hour, D and W time frames. Let me know if you find it to be useful.

Code: 
#////////////
#// Inputs //
#////////////

# "------ ZigZag settings ------"
input source = ohlc4;
def src = source;
input Length = 10;
input phase  = 50;
input power  = 2;
input color_up_and_down_moves = yes;
def   do_col =color_up_and_down_moves;


# "---------- Alerts ----------"
input Buy_Alert = yes;
def   do_buy_alert = Buy_Alert;
input Sell_Alert = yes;
def   do_sell_alert = Sell_Alert;

#///////////////
#// Functions //
#///////////////
#//{
#// definition of "Jurik Moving Average", by Everget
script nz{
    input x = close;
    input y = 0;
    plot result = if isnan(x) then y else x;
}

script rising{
    input src = close;
    input len = 5;
    plot result = if len == 1 then src > src[1] else fold i = 0 to len -1 with p = no while src[i] > getvalue(src, i+1) do getvalue(src,i+1) > getvalue(src, i+2);
}

script falling{
    input src = close;
    input len = 5;
    plot result = if len == 1 then src < src[1] else fold i = 0 to len -1 with p = no while src[i] < getvalue(src, i+1) do getvalue(src,i+1) < getvalue(src, i+2);
}

script fixnan{
    input source = close;
    def fix = if !isnan(source) then source else fix[1];
    plot result = fix;

}

script valuewhen{
    input condition = close;
    input source = close;
    input occ = 0;
    def   count = compoundValue(1,if condition and count[1] + 1 < occ then count[1] + 1 else if condition and count[1] + 1 >= occ then 0 else count[1],0) ;
    def   prevalue = if (count[1] + 1 >= occ) and condition then source else prevalue[1];
    def   value = if condition then prevalue[1] else value[1];
    plot  result = value;
   
}


script jma{
    input _src = close;
    input _length = 14;
    input _phase = 50;
    input _power = 2;
   
    def phaseRatio = if  _phase < -100 then 0.5 else if _phase > 100 then  2.5 else _phase / 100 + 1.5;
    def beta = 0.45 * (_length - 1) / (0.45 * (_length - 1) + 2);
    def alpha = power(beta, _power);
    def jma;
 
    def e0 = compoundValue(1,(1 - alpha) * _src + alpha * nz(e0[1]), 0.0);
    def e1 = compoundValue(1,(_src - e0) * (1 - beta) + beta * nz(e1[1]), 0.0);
    def e2 = compoundValue(1,(e0 + phaseRatio * e1 - nz(jma[1])) * power(1 - alpha, 2) +
       power(alpha, 2) * nz(e2[1]), 0.0);
    jma = compoundValue(1, e2 + nz(jma[1]), 0.0);
    plot result = jma;
   
}

#/////////////////
#// Main Script //
#/////////////////
#//{
#//calculate jma turning point
def jma_price   = jma(src, length, phase, power);
def turn_down   = rising(jma_price[1], 1) and !rising(jma_price, 1);
def turn_up     = falling(jma_price[1], 1) and !falling(jma_price, 1);

#pivot       = float(na)
def highest_1   = highest(high, 5);
def lowest_1    = lowest(low, 5);

def lastbar = isNaN(close[-1]) and !isNaN(close);

def pivot       = if turn_down then highest_1 else if turn_up   then  lowest_1 else double.nan;
def fixnan_1    = fixnan(pivot);

#pivot_color = do_col ? pivot < fixnan_1[1] ? color_dn : color_up : color.yellow

#def higheqfix = high == fixnan_1;
#def loweqfix = low == fixnan_1;
#def bar_index = barnumber();
#def pivot_bar  = compoundValue(1, if turn_down then valuewhen(higheqfix, bar_index, 0) else if turn_up   then  valuewhen( loweqfix, bar_index, 0) else double.nan, 0);

#///////////
#// Plots //
#///////////
#//{
#plot(pivot, linewidth = 2, color = pivot_color, offset = -2, transp = 0)

def colcond = if isNaN(pivot) then colcond[1] else if pivot < fixnan_1[1] then no else yes;

plot pivot_zigzag = if lastbar then close else pivot[-2];
pivot_zigzag.setLineWeight(2);
pivot_zigzag.enableApproximation();
pivot_zigzag.defineColor("Down", color.red);
pivot_zigzag.defineColor("Up", createColor(0, 230, 118));
pivot_zigzag.assignValueColor(if do_col then (if colcond[-1] then pivot_zigzag.color("Down") else pivot_zigzag.color("Up")) else color.yellOW);


plot top = if turn_down then fixnan_1 else double.nan;
top.setpaintingStrategy(paintingStrategy.ARROW_DOWN);
top.setdefaultColor(color.red);
top.setLineWeight(3);

plot bottom = if turn_up then fixnan_1 else double.nan;
bottom.setPaintingStrategy(paintingStrategy.ARROW_UP);
bottom.setdefaultColor(createColor(0, 230, 118));
bottom.setLineWeight(3);

#////////////
#// Alerts //
#////////////
#//{
def buyalert  = turn_up;
def sellalert = turn_down;


alert(buyalert and do_buy_alert, "Buy alert", alert.BAR, sound.Nosound);
   
alert(sellalert and do_sell_alert, "Sell Alert", alert.bar, sound.Nosound);

#-----------------------------------------------------------------------
#def pivotcount = compoundValue(1,if !isNAN(pivot) then pivotcount[1] + 1 else pivotcount[1],0);
def fixcount = compoundValue(1,if fixnan_1 != fixnan_1[1] then fixcount[1] + 1 else fixcount[1], 0);
def swingsum = compoundValue(1,if fixnan_1 != fixnan_1[1] then swingsum[1] + absValue(fixnan_1 - fixnan_1[1]) else swingsum[1], 0);
def swingavg = swingsum / fixcount;

def swingsumpercent = compoundValue(1,if fixnan_1 != fixnan_1[1] then swingsumpercent[1] + absValue(fixnan_1 - fixnan_1[1])/fixnan_1 else swingsumpercent[1], 0);
def swingavgpercent = swingsumpercent / fixcount;

#addlabel(yes, "Piv : " + pivotcount);
#addlabel(yes, "Swings : " + fixcount, color.blue);
#addlabel(yes, "Swing Avg : " + asDollars(swingavg), color.blue);
#addlabel(yes, "Swing Avg % : " + asPercent(swingavgpercent), color.blue);

#-------------------------------------------------------------------------
input show_percent_bubbles = yes;
def changepercent = if fixnan_1 != fixnan_1[1] then round((fixnan_1 - fixnan_1[1])/fixnan_1,2) else double.nan;
def ispivot = fixnan_1 != fixnan_1[1];
addchartBubble(show_percent_bubbles and ispivot[-2],pivot[-2], aspercent(changepercent[-2]), color.yellow, if changepercent[-2] > 0 then yes else no);

Here are the settings I use.

Source (O+H+L+C)/4

Length 19

Phase 72

Power 2

Use the dropdowns for the rest of the settings.

Any developers here can feel free to enhance or change this code to make it better.

I use this in conjunction with another TV to TS conversion (done by the same developer) called UT Bot. UT Bot provides Buy / Sell bubbles based on a fairly complex calculation.

If interested here is the Thread: https://usethinkscript.com/threads/ut-bot-for-thinkorswim.12640/

I think it's important to not rely on any one or two indicators, but rather to validate a potential trade with multiple indicators on multiple time frames before trading. Also be sure to paper trade before using real money.
 
Last edited:
ttsdmagic said:
This was converted from TradingView. After a few enhancements I find it useful. I use it on 4 hour, D and W time frames. Let me know if you find it to be useful.

Code: 
#////////////
#// Inputs //
#////////////

# "------ ZigZag settings ------"
input source = ohlc4;
def src = source;
input Length = 10;
input phase  = 50;
input power  = 2;
input color_up_and_down_moves = yes;
def   do_col =color_up_and_down_moves;


# "---------- Alerts ----------"
input Buy_Alert = yes;
def   do_buy_alert = Buy_Alert;
input Sell_Alert = yes;
def   do_sell_alert = Sell_Alert;

#///////////////
#// Functions //
#///////////////
#//{
#// definition of "Jurik Moving Average", by Everget
script nz{
    input x = close;
    input y = 0;
    plot result = if isnan(x) then y else x;
}

script rising{
    input src = close;
    input len = 5;
    plot result = if len == 1 then src > src[1] else fold i = 0 to len -1 with p = no while src[i] > getvalue(src, i+1) do getvalue(src,i+1) > getvalue(src, i+2);
}

script falling{
    input src = close;
    input len = 5;
    plot result = if len == 1 then src < src[1] else fold i = 0 to len -1 with p = no while src[i] < getvalue(src, i+1) do getvalue(src,i+1) < getvalue(src, i+2);
}

script fixnan{
    input source = close;
    def fix = if !isnan(source) then source else fix[1];
    plot result = fix;

}

script valuewhen{
    input condition = close;
    input source = close;
    input occ = 0;
    def   count = compoundValue(1,if condition and count[1] + 1 < occ then count[1] + 1 else if condition and count[1] + 1 >= occ then 0 else count[1],0) ;
    def   prevalue = if (count[1] + 1 >= occ) and condition then source else prevalue[1];
    def   value = if condition then prevalue[1] else value[1];
    plot  result = value;
   
}


script jma{
    input _src = close;
    input _length = 14;
    input _phase = 50;
    input _power = 2;
   
    def phaseRatio = if  _phase < -100 then 0.5 else if _phase > 100 then  2.5 else _phase / 100 + 1.5;
    def beta = 0.45 * (_length - 1) / (0.45 * (_length - 1) + 2);
    def alpha = power(beta, _power);
    def jma;
 
    def e0 = compoundValue(1,(1 - alpha) * _src + alpha * nz(e0[1]), 0.0);
    def e1 = compoundValue(1,(_src - e0) * (1 - beta) + beta * nz(e1[1]), 0.0);
    def e2 = compoundValue(1,(e0 + phaseRatio * e1 - nz(jma[1])) * power(1 - alpha, 2) +
       power(alpha, 2) * nz(e2[1]), 0.0);
    jma = compoundValue(1, e2 + nz(jma[1]), 0.0);
    plot result = jma;
   
}

#/////////////////
#// Main Script //
#/////////////////
#//{
#//calculate jma turning point
def jma_price   = jma(src, length, phase, power);
def turn_down   = rising(jma_price[1], 1) and !rising(jma_price, 1);
def turn_up     = falling(jma_price[1], 1) and !falling(jma_price, 1);

#pivot       = float(na)
def highest_1   = highest(high, 5);
def lowest_1    = lowest(low, 5);

def lastbar = isNaN(close[-1]) and !isNaN(close);

def pivot       = if turn_down then highest_1 else if turn_up   then  lowest_1 else double.nan;
def fixnan_1    = fixnan(pivot);

#pivot_color = do_col ? pivot < fixnan_1[1] ? color_dn : color_up : color.yellow

#def higheqfix = high == fixnan_1;
#def loweqfix = low == fixnan_1;
#def bar_index = barnumber();
#def pivot_bar  = compoundValue(1, if turn_down then valuewhen(higheqfix, bar_index, 0) else if turn_up   then  valuewhen( loweqfix, bar_index, 0) else double.nan, 0);

#///////////
#// Plots //
#///////////
#//{
#plot(pivot, linewidth = 2, color = pivot_color, offset = -2, transp = 0)

def colcond = if isNaN(pivot) then colcond[1] else if pivot < fixnan_1[1] then no else yes;

plot pivot_zigzag = if lastbar then close else pivot[-2];
pivot_zigzag.setLineWeight(2);
pivot_zigzag.enableApproximation();
pivot_zigzag.defineColor("Down", color.red);
pivot_zigzag.defineColor("Up", createColor(0, 230, 118));
pivot_zigzag.assignValueColor(if do_col then (if colcond[-1] then pivot_zigzag.color("Down") else pivot_zigzag.color("Up")) else color.yellOW);


plot top = if turn_down then fixnan_1 else double.nan;
top.setpaintingStrategy(paintingStrategy.ARROW_DOWN);
top.setdefaultColor(color.red);
top.setLineWeight(3);

plot bottom = if turn_up then fixnan_1 else double.nan;
bottom.setPaintingStrategy(paintingStrategy.ARROW_UP);
bottom.setdefaultColor(createColor(0, 230, 118));
bottom.setLineWeight(3);

#////////////
#// Alerts //
#////////////
#//{
def buyalert  = turn_up;
def sellalert = turn_down;


alert(buyalert and do_buy_alert, "Buy alert", alert.BAR, sound.Nosound);
   
alert(sellalert and do_sell_alert, "Sell Alert", alert.bar, sound.Nosound);

#-----------------------------------------------------------------------
#def pivotcount = compoundValue(1,if !isNAN(pivot) then pivotcount[1] + 1 else pivotcount[1],0);
def fixcount = compoundValue(1,if fixnan_1 != fixnan_1[1] then fixcount[1] + 1 else fixcount[1], 0);
def swingsum = compoundValue(1,if fixnan_1 != fixnan_1[1] then swingsum[1] + absValue(fixnan_1 - fixnan_1[1]) else swingsum[1], 0);
def swingavg = swingsum / fixcount;

def swingsumpercent = compoundValue(1,if fixnan_1 != fixnan_1[1] then swingsumpercent[1] + absValue(fixnan_1 - fixnan_1[1])/fixnan_1 else swingsumpercent[1], 0);
def swingavgpercent = swingsumpercent / fixcount;

#addlabel(yes, "Piv : " + pivotcount);
#addlabel(yes, "Swings : " + fixcount, color.blue);
#addlabel(yes, "Swing Avg : " + asDollars(swingavg), color.blue);
#addlabel(yes, "Swing Avg % : " + asPercent(swingavgpercent), color.blue);

#-------------------------------------------------------------------------
input show_percent_bubbles = yes;
def changepercent = if fixnan_1 != fixnan_1[1] then round((fixnan_1 - fixnan_1[1])/fixnan_1,2) else double.nan;
def ispivot = fixnan_1 != fixnan_1[1];
addchartBubble(show_percent_bubbles and ispivot[-2],pivot[-2], aspercent(changepercent[-2]), color.yellow, if changepercent[-2] > 0 then yes else no);

Here are the settings I use.

Source (O+H+L+C)/4

Length 19

Phase 72

Power 2

Use the dropdowns for the rest of the settings.
Click to expand...
Can you help to add addchartbubble for high low price instead of changepercent? Thanks,
 
I am not a Thinkscript programmer. But there are many excellent developers here, and maybe they can enhance it.
 
ttsdmagic said:
This was converted from TradingView. After a few enhancements I find it useful. I use it on 4 hour, D and W time frames. Let me know if you find it to be useful.

Code: 
#////////////
#// Inputs //
#////////////

# "------ ZigZag settings ------"
input source = ohlc4;
def src = source;
input Length = 10;
input phase  = 50;
input power  = 2;
input color_up_and_down_moves = yes;
def   do_col =color_up_and_down_moves;


# "---------- Alerts ----------"
input Buy_Alert = yes;
def   do_buy_alert = Buy_Alert;
input Sell_Alert = yes;
def   do_sell_alert = Sell_Alert;

#///////////////
#// Functions //
#///////////////
#//{
#// definition of "Jurik Moving Average", by Everget
script nz{
    input x = close;
    input y = 0;
    plot result = if isnan(x) then y else x;
}

script rising{
    input src = close;
    input len = 5;
    plot result = if len == 1 then src > src[1] else fold i = 0 to len -1 with p = no while src[i] > getvalue(src, i+1) do getvalue(src,i+1) > getvalue(src, i+2);
}

script falling{
    input src = close;
    input len = 5;
    plot result = if len == 1 then src < src[1] else fold i = 0 to len -1 with p = no while src[i] < getvalue(src, i+1) do getvalue(src,i+1) < getvalue(src, i+2);
}

script fixnan{
    input source = close;
    def fix = if !isnan(source) then source else fix[1];
    plot result = fix;

}

script valuewhen{
    input condition = close;
    input source = close;
    input occ = 0;
    def   count = compoundValue(1,if condition and count[1] + 1 < occ then count[1] + 1 else if condition and count[1] + 1 >= occ then 0 else count[1],0) ;
    def   prevalue = if (count[1] + 1 >= occ) and condition then source else prevalue[1];
    def   value = if condition then prevalue[1] else value[1];
    plot  result = value;
  
}


script jma{
    input _src = close;
    input _length = 14;
    input _phase = 50;
    input _power = 2;
  
    def phaseRatio = if  _phase < -100 then 0.5 else if _phase > 100 then  2.5 else _phase / 100 + 1.5;
    def beta = 0.45 * (_length - 1) / (0.45 * (_length - 1) + 2);
    def alpha = power(beta, _power);
    def jma;
 
    def e0 = compoundValue(1,(1 - alpha) * _src + alpha * nz(e0[1]), 0.0);
    def e1 = compoundValue(1,(_src - e0) * (1 - beta) + beta * nz(e1[1]), 0.0);
    def e2 = compoundValue(1,(e0 + phaseRatio * e1 - nz(jma[1])) * power(1 - alpha, 2) +
       power(alpha, 2) * nz(e2[1]), 0.0);
    jma = compoundValue(1, e2 + nz(jma[1]), 0.0);
    plot result = jma;
  
}

#/////////////////
#// Main Script //
#/////////////////
#//{
#//calculate jma turning point
def jma_price   = jma(src, length, phase, power);
def turn_down   = rising(jma_price[1], 1) and !rising(jma_price, 1);
def turn_up     = falling(jma_price[1], 1) and !falling(jma_price, 1);

#pivot       = float(na)
def highest_1   = highest(high, 5);
def lowest_1    = lowest(low, 5);

def lastbar = isNaN(close[-1]) and !isNaN(close);

def pivot       = if turn_down then highest_1 else if turn_up   then  lowest_1 else double.nan;
def fixnan_1    = fixnan(pivot);

#pivot_color = do_col ? pivot < fixnan_1[1] ? color_dn : color_up : color.yellow

#def higheqfix = high == fixnan_1;
#def loweqfix = low == fixnan_1;
#def bar_index = barnumber();
#def pivot_bar  = compoundValue(1, if turn_down then valuewhen(higheqfix, bar_index, 0) else if turn_up   then  valuewhen( loweqfix, bar_index, 0) else double.nan, 0);

#///////////
#// Plots //
#///////////
#//{
#plot(pivot, linewidth = 2, color = pivot_color, offset = -2, transp = 0)

def colcond = if isNaN(pivot) then colcond[1] else if pivot < fixnan_1[1] then no else yes;

plot pivot_zigzag = if lastbar then close else pivot[-2];
pivot_zigzag.setLineWeight(2);
pivot_zigzag.enableApproximation();
pivot_zigzag.defineColor("Down", color.red);
pivot_zigzag.defineColor("Up", createColor(0, 230, 118));
pivot_zigzag.assignValueColor(if do_col then (if colcond[-1] then pivot_zigzag.color("Down") else pivot_zigzag.color("Up")) else color.yellOW);


plot top = if turn_down then fixnan_1 else double.nan;
top.setpaintingStrategy(paintingStrategy.ARROW_DOWN);
top.setdefaultColor(color.red);
top.setLineWeight(3);

plot bottom = if turn_up then fixnan_1 else double.nan;
bottom.setPaintingStrategy(paintingStrategy.ARROW_UP);
bottom.setdefaultColor(createColor(0, 230, 118));
bottom.setLineWeight(3);

#////////////
#// Alerts //
#////////////
#//{
def buyalert  = turn_up;
def sellalert = turn_down;


alert(buyalert and do_buy_alert, "Buy alert", alert.BAR, sound.Nosound);
  
alert(sellalert and do_sell_alert, "Sell Alert", alert.bar, sound.Nosound);

#-----------------------------------------------------------------------
#def pivotcount = compoundValue(1,if !isNAN(pivot) then pivotcount[1] + 1 else pivotcount[1],0);
def fixcount = compoundValue(1,if fixnan_1 != fixnan_1[1] then fixcount[1] + 1 else fixcount[1], 0);
def swingsum = compoundValue(1,if fixnan_1 != fixnan_1[1] then swingsum[1] + absValue(fixnan_1 - fixnan_1[1]) else swingsum[1], 0);
def swingavg = swingsum / fixcount;

def swingsumpercent = compoundValue(1,if fixnan_1 != fixnan_1[1] then swingsumpercent[1] + absValue(fixnan_1 - fixnan_1[1])/fixnan_1 else swingsumpercent[1], 0);
def swingavgpercent = swingsumpercent / fixcount;

#addlabel(yes, "Piv : " + pivotcount);
#addlabel(yes, "Swings : " + fixcount, color.blue);
#addlabel(yes, "Swing Avg : " + asDollars(swingavg), color.blue);
#addlabel(yes, "Swing Avg % : " + asPercent(swingavgpercent), color.blue);

#-------------------------------------------------------------------------
input show_percent_bubbles = yes;
def changepercent = if fixnan_1 != fixnan_1[1] then round((fixnan_1 - fixnan_1[1])/fixnan_1,2) else double.nan;
def ispivot = fixnan_1 != fixnan_1[1];
addchartBubble(show_percent_bubbles and ispivot[-2],pivot[-2], aspercent(changepercent[-2]), color.yellow, if changepercent[-2] > 0 then yes else no);

Here are the settings I use.

Source (O+H+L+C)/4

Length 19

Phase 72

Power 2

Use the dropdowns for the rest of the settings.

Any developers here can feel free to enhance or change this code to make it better.

I use this in conjunction with another TV to TS conversion (done by the same developer) called UT Bot. UT Bot provides Buy / Sell bubbles based on a fairly complex calculation.

If interested here is the Thread: https://usethinkscript.com/threads/ut-bot-for-thinkorswim.12640/

I think it's important to not rely on any one or two indicators, but rather to validate a potential trade with multiple indicators on multiple time frames before trading. Also be sure to paper trade before using real money.
Click to expand...
Thank you. I appreciate you sharing the code with us. According to what I saw today, your settings (length 19 and phase 72) appear to be producing better signals on the 1 minute time frame than the initial input values (length 14 and phase 50)
 
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