Indicator for Think or Swim based on Rob Smith's The STRAT

[Prison Mike]

@Rsully2222

Something like this?...

https://twitter.com/i/web/status/1298055132303613952

Maybe check The Strat Facebook page.

Maybe y’all have seen from my other post but I am in LOVE with this trading method. Only found out about The Strat and Rob Smith on Aug. 5th from his fine post. I have been killing it since(so time will tell). I am not affiliated with anyone from The Strat community. It’s just the first thing that has actually worked for me.

Learn it.

 

[Rsully2222]

Yeah that's exactly what I'm looking for I just haven't been able to find anything like that it would greatly appreciated

 

[Prison Mike]

Yeah that's exactly what I'm looking for I just haven't been able to find anything like that it would greatly appreciated

I personally don’t have it, but I have seen people asking for it in his replies. Again maybe check their Facebook.

 

[Timeless]

Yeah that's exactly what I'm looking for I just haven't been able to find anything like that it would greatly appreciated

So after searching today, I found 2 codes for it. Both work as i've tested them both.

#Displays candle type and up or down for the chosen period per the Strat
plot CandleType;
if high[0] > high[1] and low[0] < low[1] then {
#engulfing
CandleType = 3;
} else if high[0] < high[1] and low[0] > low[1] then {
#inside
CandleType = 1;
} else {
CandleType = 2;
}
# Display Candle Type
plot CandleDirection;
if close[0] > open[0] then {
#Price is rising
CandleDirection = 1;
} else if close[0] < open[0] then {
#Price is declining
CandleDirection = 2;
} else {
CandleDirection = 3;
}

#Display candle type and direction
addLabel(yes, if CandleType == 3 then "3" else if CandleType == 1 then "1" else "2", if CandleDirection == 2 then color.white else if CandleDirection == 1 then color.black else color.black);

assignBackgroundColor(if CandleDirection == 1 then color.green else if CandleDirection == 2 then color.red else color.yellow);

Or

def prevHigh = high[1];
def currHigh = high[0];
def prevLow = low[1];
def currLow = low[0];
def currOpen = open[0];
def currClose = close[0];
def prevClose = close[1];

AddLabel(1,
    if  currHigh < prevHigh and  currLow > prevLow then " In " 
    else if currHigh > prevHigh  and currLow < prevLow then " Out " 
    else if currHigh > prevHigh  and currLow > prevLow then " 2Up " 
    else if currHigh < prevHigh  and currLow < prevLow then " 2Dn " 
    else " "
,
    Color.Black
);
AssignBackgroundCOlor(if currClose > currOpen then Color.Green else if currClose < currOpen then Color.Red else Color.White);

Just an FYI: I am not a coder nor did I code either of these. I was just looking for this and found it useful and thought I might share to people who were looking for the same thing. It's for the watchlist columns.

 

[ext99k]

Any luck on the alerts in the original code? would really appreciate it, would be really useful - thanks

 

[Pelonsax]

Is there a watchlist column showing the time frame, what the current number is and direction with colored columns?

I've got some watchlist columns for both STRAT candle condition MTF as well as MTF FTC. I'll post those up soon

 

[Timeless]

I've got some watchlist columns for both STRAT candle condition MTF as well as MTF FTC. I'll post those up soon

The 2nd code I posted above is exactly the one from that Twitter pic

 

[Mbaker333]

if you figure out how to code a broadening formation channel, that would be a game changer... i check back to this thread every other day or so to see how you are coming along. great progress, keep up the great work and thank you!

 

[Axel BobbyRod]

Would it be possible to only show the combo numbers on a tick chart?

 

[Rsully2222]

I've got some watchlist columns for both STRAT candle condition MTF as well as MTF FTC. I'll post those up soon

Awesome looking forward to it, thank you guys much appreciated for everything

 

[Pelonsax]

I've added some watchlist columns the code is at the end of the top post

 

[ashfordtrader]

Not sure why watch list codes are not working for me....I am getting an error "AddLabel is not allowed in this context". Help please.

 

[Pelonsax]

if you figure out how to code a broadening formation channel, that would be a game changer... i check back to this thread every other day or so to see how you are coming along. great progress, keep up the great work and thank you!

There's a study on here called wedge finder or something. Its not exactly the same thing but if you draw out the wedge, you'll see price broadens along those lines very frequently. In the image below, just ignore all the other stuff and focus on the hashed lines that extend outward from the wedges. That's the study I'm talking about. It's a version of the study you'll find in this site (or one very similar to it) that has been modified to draw out the diagonals. I can't share it because it's not mine and the guy who wrote it for me said not to, but I've run both the one on here and this one on the same charts and they indicate wedges in exactly the same places. The only difference is that this one extends the lines for you. If you get the wedge study that is available on this site, you just have to draw them out yourself, but it's essentially the same thing.

 

[Pelonsax]

Not sure why watch list codes are not working for me....I am getting an error "AddLabel is not allowed in this context". Help please.

Did you try the one I posted? I'm not having any trouble with mine.

I posted the code in the top post. It's the last bit of code on that post.

 

[Pelonsax]

if you figure out how to code a broadening formation channel, that would be a game changer... i check back to this thread every other day or so to see how you are coming along. great progress, keep up the great work and thank you!

This is it I believe:
https://usethinkscript.com/threads/automatic-wedge-pattern-detector-for-thinkorswim.1623/#post-19756

 

[waltj]

Is there a way to turn the candle colors off. or get them back to standard red green?

Thanks

 

[Timeless]

anyway to get alerts on arrows?

 

[Joreha]

@Pelonsax , thank you so much for doing this. I don't see arrows for 3-2 up or down. Could you please help?

 

[Lees]

Here's what it looks like when I use @akoplan 's code. But as you can see there are still ones that didn't take out one side or the other. Thoughts?

Which version has this setup?

 

[Prison Mike]

Hope everyone killed it today with The Strat!