Intraday Scalping Strategy For ThinkOrSwim

M

mikewest

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VIP
# This strategy counts a number of lower highs then after the last candle that price crosses back above lowest high triggers the buy signal and sell signal if the price crosses below the 9 ema or closes below the close of the last candle.
This is to keep a clean chart for intraday trading on one minute chart so I can have multiple charts open on 1 screen and just see the labels if they red or green and select the one thats green to open on main screen.
Thanks to @Svanoy for the coding help Also Thanks to @koenigbro
Latest Version April3, 2022
http://tos.mx/8sSc848

Code: 
input price = close;
input Length = 9;
input averageType = AverageType.WILDERS;

plot MA = MovingAverage(averageType, price, Length);

input ConsecutiveBarsDown = 2;
input Trigger_Line = high;

input ConsecutiveBarsUp = 2;
input Trigger_Line2 = Low;

def Condition = high < high[1];

def Condition2 = low > low[1];

def CBD = Sum(Condition, ConsecutiveBarsDown);
plot CBDP = if CBD == ConsecutiveBarsDown then CBD else Double.NaN;
CBDP.SetPaintingStrategy(PaintingStrategy.VALUES_BELOW);

def CBU = Sum(Condition, ConsecutiveBarsUp);
plot CBUP = if CBU == ConsecutiveBarsUp then CBU else Double.NaN;
CBUP.SetPaintingStrategy(PaintingStrategy.VALUES_ABOVE);

def BuyLine;
if close[1] > BuyLine[1] {
BuyLine = Double.NaN;
} else if CBD == ConsecutiveBarsDown {
BuyLine = Trigger_Line;
} else {
BuyLine = BuyLine[1];
}

plot BuyLinePlot = BuyLine;
BuyLinePlot.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
BuyLinePlot.AssignValueColor(Color.WHITE);

def Buy = close > BuyLine;
plot BP = Buy;
BP.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
BP.AssignValueColor(Color.UPTICK);
BP.SetLineWeight(5);

def sell = close < close[2] or close crosses below MA;

def SellLine;
if close[1] < SellLine[1] {
SellLine = Double.NaN;
} else if CBU == ConsecutiveBarsUp {
SellLine = Trigger_Line2;
} else {
SellLine = SellLine[1];
}

plot SellLinePlot = SellLine;
SellLinePlot.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
SellLinePlot.AssignValueColor(Color.YELLOW);

def Sell2 = close < SellLine;
plot SL = Sell2;
SL.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
SL.AssignValueColor(Color.DOWNTICK);
SL.SetLineWeight(5);

def Buy2 = close > close[2] or close crosses above MA;

AddOrder(OrderType.BUY_TO_OPEN, condition = Buy,  tradeSize = 1, tickcolor = Color.CYAN, arrowcolor = Color.BLUE, "Buy");
AddOrder(OrderType.SELL_TO_CLOSE, condition = sell,  tradeSize = 1, tickcolor = Color.DARK_ORANGE, arrowcolor = Color.RED, "Sell");

AddLabel(yes, if Buy then "BUY" else if sell then "SELL" else "Nothing",
if sell then Color.RED else if Buy then Color.GREEN else Color.BLACK);


AddOrder(OrderType.SELL_TO_OPEN, condition = Sell2, tradeSize = 1, tickcolor = Color.RED, arrowcolor = Color.PINK, “Sell”);
AddOrder(OrderType.BUY_TO_CLOSE, condition = buy2,  tradeSize = 1, tickcolor = Color.VIOLET, arrowcolor = Color.LIME, “Buy”);

AddLabel(yes, if Sell2 then “SELL” else if buy2 then “BUY” else "Nothing",
if buy2 then Color.LIME else if sell2 then Color.RED else Color.BLACK);

# Alerts

Alert(Buy, "buy to open", Alert.Bar, Sound.Chimes);
Alert(Sell, "sell to close", Alert.Bar, Sound.Bell);

Alert(Buy2, "buy to close", Alert.Bar, Sound.Chimes);
Alert(Sell2, "sell to open", Alert.Bar, Sound.Bell);

FnAQWyf.png
 
Last edited by a moderator:
mikewest said:
# This strategy counts a number of lower highs then after the last candle that price crosses back above lowest high triggers the buy signal and sell signal if the price crosses below the 9 ema or closes below the close of the last candle.
This is a work in progress to keep a clean chart for intraday trading on one minute chart so I can have multiple charts open on 1 screen and just see the labels if they red or green and select the one thats green to open on main screen. I will continue to work on it with help from this group and share my progress here. Thanks to @Svanoy for the coding help which I lack any experience in as I mainly copy and paste. If someone can change the label so it is either buy green or sell red without a black background please post it here thanks.
http://tos.mx/sHUUG8C
Ruby: 
#Intraday Scalping Strategy
#@Svanoy
input price = close;
input Length = 9;
input averageType = AverageType.wilders;

plot MA = MovingAverage(averageType, price, Length);

input ConsecutiveBarsDown = 3;
input Trigger_Line = high;

def Condition = high < high[1];

def CBD = Sum(Condition,ConsecutiveBarsDown);
plot CBDP = if CBD == ConsecutiveBarsDown then CBD else Double.NaN;
CBDP.setPaintingStrategy(PaintingStrategy.VALUES_BELOW);

def BuyLine;
if close[1] > BuyLine[1] {
BuyLine = Double.NaN;
} else if CBD == ConsecutiveBarsDown {
BuyLine = Trigger_Line;
} else {
BuyLine = BuyLine[1];}

plot BuyLinePlot = BuyLine;
BuyLinePlot.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
BuyLinePlot.AssignValueColor(Color.WHITE);

def Buy = close > BuyLine;
plot BP = Buy;
BP.SetpaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
BP.AssignValueColor(Color.UPTICK);
BP.SetLineWeight(5);

def sell = close < close[1] or close crosses below MA;

AddOrder(OrderType.BUY_TO_OPEN, condition = Buy, price = BuyLine[1], tradeSize = 100, tickcolor = Color.CYAN, arrowcolor = Color.BLUE, "Buy");
AddOrder(OrderType.SELL_TO_CLOSE, condition = Sell, price = open, tradeSize = 100, tickcolor = Color.DARK_ORANGE, arrowcolor = Color.RED, "Sell");

Addlabel(yes, if buy then "BUY" else if sell then "SELL" else "Nothing",
if sell then color.red else if buy then color.GREEN else color.black);


FnAQWyf.png
Click to expand...
Great strategies, thank you very much for sharing with us.. i will like to know if you can add the Short version, because i see is only for long entry.. thank you in advance
 
Hello,

I added short trades and also sound alerts as well so you will hear a sound once a trade is either entered or exited according to the strategy.
The code to the entire updated strategy is below:

Code: 
input price = close;
input Length = 9;
input averageType = AverageType.WILDERS;

plot MA = MovingAverage(averageType, price, Length);

input ConsecutiveBarsDown = 2;
input Trigger_Line = high;

input ConsecutiveBarsUp = 2;
input Trigger_Line2 = Low;

def Condition = high < high[1];

def Condition2 = low > low[1];

def CBD = Sum(Condition, ConsecutiveBarsDown);
plot CBDP = if CBD == ConsecutiveBarsDown then CBD else Double.NaN;
CBDP.SetPaintingStrategy(PaintingStrategy.VALUES_BELOW);

def CBU = Sum(Condition, ConsecutiveBarsUp);
plot CBUP = if CBU == ConsecutiveBarsUp then CBU else Double.NaN;
CBUP.SetPaintingStrategy(PaintingStrategy.VALUES_ABOVE);

def BuyLine;
if close[1] > BuyLine[1] {
    BuyLine = Double.NaN;
} else if CBD == ConsecutiveBarsDown {
    BuyLine = Trigger_Line;
} else {
    BuyLine = BuyLine[1];
}

plot BuyLinePlot = BuyLine;
BuyLinePlot.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
BuyLinePlot.AssignValueColor(Color.WHITE);

def Buy = close > BuyLine;
plot BP = Buy;
BP.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
BP.AssignValueColor(Color.UPTICK);
BP.SetLineWeight(5);

def sell = close < close[2] or close crosses below MA;

def SellLine;
if close[1] < SellLine[1] {
    SellLine = Double.NaN;
} else if CBU == ConsecutiveBarsUp {
    SellLine = Trigger_Line2;
} else {
    SellLine = SellLine[1];
}

plot SellLinePlot = SellLine;
SellLinePlot.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
SellLinePlot.AssignValueColor(Color.YELLOW);

def Sell2 = close < SellLine;
plot SL = Sell2;
SL.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
SL.AssignValueColor(Color.DOWNTICK);
SL.SetLineWeight(5);

def Buy2 = close > close[2] or close crosses above MA;

AddOrder(OrderType.BUY_TO_OPEN, condition = Buy,  tradeSize = 1, tickcolor = Color.CYAN, arrowcolor = Color.BLUE, "Buy");
AddOrder(OrderType.SELL_TO_CLOSE, condition = sell, tradeSize = 1, tickcolor = Color.DARK_ORANGE, arrowcolor = Color.RED, "Sell");

AddLabel(yes, if Buy then "BUY" else if sell then "SELL" else "Nothing",
if sell then Color.RED else if Buy then Color.GREEN else Color.BLACK);


AddOrder(OrderType.SELL_TO_OPEN, condition = Sell2,  tradeSize = 1, tickcolor = Color.RED, arrowcolor = Color.PINK, “Sell”);
AddOrder(OrderType.BUY_TO_CLOSE, condition = buy2,  tradeSize = 1, tickcolor = Color.VIOLET, arrowcolor = Color.LIME, “Buy”);

AddLabel(yes, if Sell2 then “SELL” else if buy2 then “BUY” else "Nothing",
if buy2 then Color.LIME else if sell2 then Color.RED else Color.BLACK);

# Alerts

Alert(Buy, "buy to open", Alert.Bar, Sound.Chimes);
Alert(Sell, "sell to close", Alert.Bar, Sound.Bell);

Alert(Buy2, "buy to close", Alert.Bar, Sound.Chimes);
Alert(Sell2, "sell to open", Alert.Bar, Sound.Bell);
 
Last edited by a moderator:
Awesome strategy. Just wondering if the " trigger_line " can use 9 EMA instead of high/low of BAR? I mean if the close price above 9 EMA then triggers buy signal ( shows trigger_ line) , as long as the price above 9 ema ,hold it. until below 9EMA,out. If so, do you know how to change the code? thanks .
 
koenigbro said:
Hello,

I added short trades and also sound alerts as well so you will hear a sound once a trade is either entered or exited according to the strategy.
The code to the entire updated strategy is below:

input price = close;
input Length = 9;
input averageType = AverageType.WILDERS;

plot MA = MovingAverage(averageType, price, Length);

input ConsecutiveBarsDown = 2;
input Trigger_Line = high;

input ConsecutiveBarsUp = 2;
input Trigger_Line2 = Low;

def Condition = high < high[1];

def Condition2 = low > low[1];

def CBD = Sum(Condition, ConsecutiveBarsDown);
plot CBDP = if CBD == ConsecutiveBarsDown then CBD else Double.NaN;
CBDP.SetPaintingStrategy(PaintingStrategy.VALUES_BELOW);

def CBU = Sum(Condition, ConsecutiveBarsUp);
plot CBUP = if CBU == ConsecutiveBarsUp then CBU else Double.NaN;
CBUP.SetPaintingStrategy(PaintingStrategy.VALUES_ABOVE);

def BuyLine;
if close[1] > BuyLine[1] {
BuyLine = Double.NaN;
} else if CBD == ConsecutiveBarsDown {
BuyLine = Trigger_Line;
} else {
BuyLine = BuyLine[1];
}

plot BuyLinePlot = BuyLine;
BuyLinePlot.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
BuyLinePlot.AssignValueColor(Color.WHITE);

def Buy = close > BuyLine;
plot BP = Buy;
BP.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
BP.AssignValueColor(Color.UPTICK);
BP.SetLineWeight(5);

def sell = close < close[2] or close crosses below MA;

def SellLine;
if close[1] < SellLine[1] {
SellLine = Double.NaN;
} else if CBU == ConsecutiveBarsUp {
SellLine = Trigger_Line2;
} else {
SellLine = SellLine[1];
}

plot SellLinePlot = SellLine;
SellLinePlot.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
SellLinePlot.AssignValueColor(Color.YELLOW);

def Sell2 = close < SellLine;
plot SL = Sell2;
SL.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
SL.AssignValueColor(Color.DOWNTICK);
SL.SetLineWeight(5);

def Buy2 = close > close[2] or close crosses above MA;

AddOrder(OrderType.BUY_TO_OPEN, condition = Buy, price = close, tradeSize = 1, tickcolor = Color.CYAN, arrowcolor = Color.BLUE, "Buy");
AddOrder(OrderType.SELL_TO_CLOSE, condition = sell, price = close, tradeSize = 1, tickcolor = Color.DARK_ORANGE, arrowcolor = Color.RED, "Sell");

AddLabel(yes, if Buy then "BUY" else if sell then "SELL" else "Nothing",
if sell then Color.RED else if Buy then Color.GREEN else Color.BLACK);


AddOrder(OrderType.SELL_TO_OPEN, condition = Sell2, price = close, tradeSize = 1, tickcolor = Color.RED, arrowcolor = Color.PINK, “Sell”);
AddOrder(OrderType.BUY_TO_CLOSE, condition = buy2, price = close, tradeSize = 1, tickcolor = Color.VIOLET, arrowcolor = Color.LIME, “Buy”);

AddLabel(yes, if Sell2 then “SELL” else if buy2 then “BUY” else "Nothing",
if buy2 then Color.LIME else if sell2 then Color.RED else Color.BLACK);

# Alerts

Alert(Buy, "buy to open", Alert.Bar, Sound.Chimes);
Alert(Sell, "sell to close", Alert.Bar, Sound.Bell);

Alert(Buy2, "buy to close", Alert.Bar, Sound.Chimes);
Alert(Sell2, "sell to open", Alert.Bar, Sound.Bell);
Click to expand...
I don't get anything here?
The Open Shared Version didn't work either http://tos.mx/sHUUG8C - is there a problem with TOS on Weekends
The Shares function has been slow or had problems for me lately.
 
changed the label to remove the black box.
input price = close;
input Length = 9;
input averageType = AverageType.WILDERS;

plot MA = MovingAverage(averageType, price, Length);

input ConsecutiveBarsDown = 2;
input Trigger_Line = high;

input ConsecutiveBarsUp = 2;
input Trigger_Line2 = Low;

def Condition = high < high[1];

def Condition2 = low > low[1];

def CBD = Sum(Condition, ConsecutiveBarsDown);
plot CBDP = if CBD == ConsecutiveBarsDown then CBD else Double.NaN;
CBDP.SetPaintingStrategy(PaintingStrategy.VALUES_BELOW);

def CBU = Sum(Condition, ConsecutiveBarsUp);
plot CBUP = if CBU == ConsecutiveBarsUp then CBU else Double.NaN;
CBUP.SetPaintingStrategy(PaintingStrategy.VALUES_ABOVE);

def BuyLine;
if close[1] > BuyLine[1] {
BuyLine = Double.NaN;
} else if CBD == ConsecutiveBarsDown {
BuyLine = Trigger_Line;
} else {
BuyLine = BuyLine[1];
}

plot BuyLinePlot = BuyLine;
BuyLinePlot.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
BuyLinePlot.AssignValueColor(Color.WHITE);

def Buy = close > BuyLine;
plot BP = Buy;
BP.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
BP.AssignValueColor(Color.UPTICK);
BP.SetLineWeight(5);

def sell = close < close[2] or close crosses below MA;

def SellLine;
if close[1] < SellLine[1] {
SellLine = Double.NaN;
} else if CBU == ConsecutiveBarsUp {
SellLine = Trigger_Line2;
} else {
SellLine = SellLine[1];
}

plot SellLinePlot = SellLine;
SellLinePlot.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
SellLinePlot.AssignValueColor(Color.YELLOW);

def Sell2 = close < SellLine;
plot SL = Sell2;
SL.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
SL.AssignValueColor(Color.DOWNTICK);
SL.SetLineWeight(5);

def Buy2 = close > close[2] or close crosses above MA;

AddOrder(OrderType.BUY_TO_OPEN, condition = Buy, open[-1], tradeSize = 1, tickcolor = Color.CYAN, arrowcolor = Color.BLUE, "Buy");
AddOrder(OrderType.SELL_TO_CLOSE, condition = sell, open[-1], tradeSize = 1, tickcolor = Color.DARK_ORANGE, arrowcolor = Color.RED, "Sell");

AddLabel(if Sell or buy then yes else no, if Buy then "BUY1" else if sell then "SELL1" else "Nothing",
if sell then Color.RED else if Buy then Color.GREEN else Color.BLACK);


AddOrder(OrderType.SELL_TO_OPEN, condition = Sell2, open[-1], tradeSize = 1, tickcolor = Color.RED, arrowcolor = Color.PINK, “Sell”);
AddOrder(OrderType.BUY_TO_CLOSE, condition = buy2, open[-1], tradeSize = 1, tickcolor = Color.VIOLET, arrowcolor = Color.LIME, “Buy”);

AddLabel(if Sell2 or buy2 then yes else no , if Sell2 then “SELL2” else if buy2 then “BUY2” else "Nothing",
if buy2 then Color.LIME else if sell2 then Color.RED else Color.BLACK);

# Alerts

Alert(Buy, "buy to open", Alert.Bar, Sound.Chimes);
Alert(Sell, "sell to close", Alert.Bar, Sound.Bell);

Alert(Buy2, "buy to close", Alert.Bar, Sound.Chimes);
Alert(Sell2, "sell to open", Alert.Bar, Sound.Bell);
Click to expand...
 
Last edited by a moderator:
FSUTommy said:
Does this repaint?
Click to expand...
The indicator does not repaint.
But the strategy portion of this code was not written correctly.
So favorable results were overstated. All the scripts in this thread have been edited,
You will need to copy & paste the edited version.
The strategy now reflects more realistic returns.
 
Last edited:
samer800 said:
changed the label to remove the black box.
Click to expand...
@samer800, I am getting these errors with this code:

Parameter already defined: arrowcolor
Expected class com.devexperts.tos.thinkscript.data.CustomColor at 67:1
Expected class com.devexperts.tos.thinkscript.data.CustomColor at 68:1
Expected class com.devexperts.tos.thinkscript.data.CustomColor at 74:1
Expected class com.devexperts.tos.thinkscript.data.CustomColor at 75:1
 
METAL said:
@samer800, I am getting these errors with this code:

Parameter already defined: arrowcolor
Expected class com.devexperts.tos.thinkscript.data.CustomColor at 67:1
Expected class com.devexperts.tos.thinkscript.data.CustomColor at 68:1
Expected class com.devexperts.tos.thinkscript.data.CustomColor at 74:1
Expected class com.devexperts.tos.thinkscript.data.CustomColor at 75:1
Click to expand...
Find the fixed code here:
https://usethinkscript.com/threads/intraday-scalping-strategy-for-thinkorswim.10698/#post-99959
 
@all Also, it looks like the Moving average filter does not really work here, which is ok. I suggest take only long trades whenever the Daily chart is in an uptrend and only short trades when it is in a downtrend.
It will prevent unnecessary trades and losses and will put more odds in your favor. It is profitable either way, but it surely shows more profit when you trade with the daily bias.

Good luck.
 
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