Yohannes24
New member
To whom it may concern,
My name is Issey Yohannes, I am currently a student at the University of Virginia. That being said, I have been using the “Thinkorswim” platform to invest in options/fequities since 2018. After years of practice, I have engineered an idea for a momentum indicator that I would like to make a reality. I will attach a PDF with all the details. requirements, and scripts to be implemented in the indicator. As this program is created for Thinkorswim, I do not require real money orders or automatic investments. I am hoping @BenTen or any other equally skilled coder on this platform can aid me in my execution of the concept. Be warned that the indicators in the program are complex (not created by me), however, the aggregate of the code is unique.
Last but not least, any notions or reactions to this potential idea is much appreciated.
Made a few changes/additions and updated visuals. I think this indicator would heavily shift favor of options/equities investing to the investor at hand. Though it is not always right (as all indicators aren't) I believe it could be powerful if someone has the skill/knowhow to code it as noted. Any insight is much appreciated.
Note : Visual in document is simply there to communicate concept visually (not perfect). In addition, only the green/red arrows along with repainting should be present in final indicator, rest is just for transparency.
Thank you. 06/03/23
@halcyonguy
The code was written by "BenTen" an admin on this site. In short, the code attached to the PDF creates the red, green, and purple bubbles seen on the visual. However, after some use, I found that a lot of false positives were being thrown up. In this sense, I wanted to add SMA crosses as confirmation prior to these bubbles being shown.
In short, I wanted to make the existing indicator (BB) which indicates bubbles due to a set of criteria implemented in its code more accurate while factoring in general market environments. In essence, when the 20 Simple Moving Avg. is below the 200 Simple Moving Avg. (bearish) I wanted to capture the downtrends using the criteria in "Criteria A". Once the 20 SMA is above the 200 SMA I wanted the criteria in "Criteria B" to be used in order to erect a signal.
Ex. Criteria B (True at same time, no particular order)
1. The red/neutral bubble from BB indicator are erected
2. 10 SMA crosses below 20 SMA
This creates a downwards Green arrow indicating the beginning of the downtrend.
In addition every candle form here on outwards is colored red to further indicate this trend.
The Exit criteria as as follows
3. The green/neutral bubbles from BB indicator are erected
4. 10 SMA crosses above 20 SMA
This creates a upwards Red arrow indicating the end of a downtrend
This marks the end of the red candle repainting.
Criteria A is essentially the opposite, capturing uptrends.
The current code for the BB code is fully functional as is, I just wanted to make these additions if possible.
Note : All candles which do not satisfy the appropriate criteria are repainted grey.
I hope this can shed some light on the project. Any insight is much appreciated.
Thank you .
My name is Issey Yohannes, I am currently a student at the University of Virginia. That being said, I have been using the “Thinkorswim” platform to invest in options/fequities since 2018. After years of practice, I have engineered an idea for a momentum indicator that I would like to make a reality. I will attach a PDF with all the details. requirements, and scripts to be implemented in the indicator. As this program is created for Thinkorswim, I do not require real money orders or automatic investments. I am hoping @BenTen or any other equally skilled coder on this platform can aid me in my execution of the concept. Be warned that the indicators in the program are complex (not created by me), however, the aggregate of the code is unique.
Last but not least, any notions or reactions to this potential idea is much appreciated.
Made a few changes/additions and updated visuals. I think this indicator would heavily shift favor of options/equities investing to the investor at hand. Though it is not always right (as all indicators aren't) I believe it could be powerful if someone has the skill/knowhow to code it as noted. Any insight is much appreciated.
Note : Visual in document is simply there to communicate concept visually (not perfect). In addition, only the green/red arrows along with repainting should be present in final indicator, rest is just for transparency.
Thank you. 06/03/23
@halcyonguy
The code was written by "BenTen" an admin on this site. In short, the code attached to the PDF creates the red, green, and purple bubbles seen on the visual. However, after some use, I found that a lot of false positives were being thrown up. In this sense, I wanted to add SMA crosses as confirmation prior to these bubbles being shown.
In short, I wanted to make the existing indicator (BB) which indicates bubbles due to a set of criteria implemented in its code more accurate while factoring in general market environments. In essence, when the 20 Simple Moving Avg. is below the 200 Simple Moving Avg. (bearish) I wanted to capture the downtrends using the criteria in "Criteria A". Once the 20 SMA is above the 200 SMA I wanted the criteria in "Criteria B" to be used in order to erect a signal.
Ex. Criteria B (True at same time, no particular order)
1. The red/neutral bubble from BB indicator are erected
2. 10 SMA crosses below 20 SMA
This creates a downwards Green arrow indicating the beginning of the downtrend.
In addition every candle form here on outwards is colored red to further indicate this trend.
The Exit criteria as as follows
3. The green/neutral bubbles from BB indicator are erected
4. 10 SMA crosses above 20 SMA
This creates a upwards Red arrow indicating the end of a downtrend
This marks the end of the red candle repainting.
Criteria A is essentially the opposite, capturing uptrends.
The current code for the BB code is fully functional as is, I just wanted to make these additions if possible.
Note : All candles which do not satisfy the appropriate criteria are repainted grey.
I hope this can shed some light on the project. Any insight is much appreciated.
Thank you .
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