Confirmation Candles Indicator For ThinkorSwim

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

I'm going to post the full code below. When I toggle the settings, the big up and down arrows are labelled "UpPivotLow" and "DownPivotHigh" in the plots section. Since I **** at coding I have no real idea what section of code produces the big arrows, but you struck gold by including it, so I hope you can point me in the right direction on how to create a scan.

#Confirmation Candles developed 04/15/2021 by Christopher Wilson
#Select the level of agreement among the 13 indicators included.

#MACD with Price

declare upper;
def price = close;
def fastLength = 12;
def slowLength = 26;
def MACDLength = 9;
input MACD_AverageType = {SMA, default EMA};
def MACDLevel = 0.0;

def fastEMA = ExpAverage(price, fastLength);
def slowEMA = ExpAverage(price, slowLength);
def Value;
def Avg;

switch (MACD_AverageType) {
case SMA:
Value = Average(price, fastLength) - Average(price, slowLength);
Avg = Average(Value, MACDLength);
case EMA:
Value = fastEMA - slowEMA;
Avg = ExpAverage(Value, MACDLength);}
def Diff = Value - Avg;
def Level = MACDLevel;

def condition1 = Value >= MACDLevel;

#RSI

input RSI_length = 14;
input RSI_AverageType = AverageType.WILDERS;

def NetChgAvg = MovingAverage(RSI_AverageType, price - price[1], RSI_length);
def TotChgAvg = MovingAverage(RSI_AverageType, AbsValue(price - price[1]), RSI_length);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
def RSI = 50 * (ChgRatio + 1);

def condition2 = RSI >= 50;

#MFI

input MFI_Length = 14;
def MFIover_Sold = 20;
def MFIover_Bought = 80;
def movingAvgLength = 1;
def MoneyFlowIndex = Average(moneyflow(high, close, low, volume, MFI_Length), movingAvgLength);
def MFIOverBought = MFIover_Bought;
def MFIOverSold = MFIover_Sold;

def condition3 = MoneyFlowIndex > 50;

#Intermediate Forecast

def na = Double.NaN;
def MidLine = 50;
def Momentum = MarketForecast().Momentum;
def NearT = MarketForecast().NearTerm;
def Intermed = MarketForecast().Intermediate;
def OB = 80;
def OS = 20;
def upperLine = 110;

def condition4 = Intermed[3] <= Intermed;

#Nearterm Forecast

def condition5 = NearT >= MidLine;

#VWAP_Pivot Signals
def n = 20;
def ticks = 2.0;
def bnOK = barNumber() > n;
def isHigher = fold i = 1 to n + 1 with p = 1 while p do high > GetValue(high, -i);
def HH = if bnOK and isHigher and high == Highest(high, n)then high else Double.NaN;
def isLower = fold j = 1 to n + 1 with q = 1 while q do low < GetValue(low, -j);
def LL = if bnOK and isLower and low == Lowest(low, n) then low else Double.NaN;
def PivH = if HH > 0 then HH else Double.NaN;
def PivL = if LL > 0 then LL else Double.NaN;

plot UpPivotLow = !isNaN(PivL);
UpPivotLow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
UpPivotLow.SetLineWeight(3);
UpPivotLow.SetDefaultColor(Color.GREEN);

plot DownPivotHigh = !isNaN(PivH);
DownPivotHigh.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
DownPivotHigh.SetLineWeight(3);
DownPivotHigh.SetDefaultColor(Color.RED);

def condition6 = !isNaN(PivL);

#EMA_1
input EMA_length = 20;
def displace = 0;
def AvgExp = ExpAverage(price[-displace], EMA_length);

def condition7 = price >= AvgExp;

#EMA_2
input EMA_2length = 50;
def displace2 = 0;
def AvgExp2 = ExpAverage(price[-displace2], EMA_2length);

def condition8 = price >= AvgExp2;

#DMI Oscillator
input DMI_length = 10;
input DMI_averageType = AverageType.WILDERS;

def diPlus = DMI(DMI_length, DMI_averageType)."DI+";
def diMinus = DMI(DMI_length, DMI_averageType)."DI-";

def Osc = diPlus - diMinus;
def Hist = Osc;
def ZeroLine = 0;

def condition9 = Osc > ZeroLine;

#Trend_Periods

input TP_fastLength = 7;
input TP_slowLength = 15;

def Periods = sign(ExpAverage(close, TP_fastLength) - ExpAverage(close, TP_slowLength));

def condition10 = Periods > 0;

#Polarized Fractal Efficiency

input PFE_length = 10;
input smoothingLength = 5;

def PFE_diff = close - close[PFE_length - 1];
def val = 100 * Sqrt(Sqr(PFE_diff) + Sqr(PFE_length)) / sum(Sqrt(1 + Sqr(close - close[1])), PFE_length - 1);

def PFE = ExpAverage(if PFE_diff > 0 then val else -val, smoothingLength);
def UpperLevel = 50;
def LowerLevel = -50;

def condition11 = PFE > ZERoLine;

#Bollinger Bands PercentB

input BBPB_averageType = AverageType.Simple;
input BBPB_length = 20;
def Num_Dev_Dn = -2.0;
def Num_Dev_up = 2.0;

def upperBand = BollingerBands(price, displace, BBPB_length, Num_Dev_Dn, Num_Dev_up, BBPB_averageType).UpperBand;
def lowerBand = BollingerBands(price, displace, BBPB_length, Num_Dev_Dn, Num_Dev_up, BBPB_averageType).LowerBand;

def PercentB = (price - lowerBand) / (upperBand - lowerBand) * 100;
def HalfLine = 50;
def UnitLine = 100;

def condition12 = PercentB > 50;

#Chaikin Oscillator

input ChaikinOsc_longLength = 10;
input ChaikinOsc_shortLength = 3;

def accDist = AccDist();
def COSC = ExpAverage(accDist, ChaikinOsc_shortLength) - ExpAverage(accDist, ChaikinOsc_longLength);

def condition13 = COSC > zeroline;

#Trend Confirmation
#Confirmation_Factor range 1-13.

input Confirmation_Factor = 6;
#Use for testing conditions individually. Remove # from line below and chang Confirmation_Factor to 1.
#def Agreement_Level = condition1;
def Agreement_Level = condition1 + condition2 + condition3 + condition4 + condition5 + condition6 + condition7 + condition8 + condition9 + condition10 + condition11 + condition12 + condition13;

input coloredCandlesOn = yes;
def UP = Agreement_Level >= Confirmation_Factor;
def DOWN = Agreement_Level < Confirmation_Factor;

AssignPriceColor(if coloredCandlesOn and UP then Color.LIGHT_GREEN else if coloredCandlesOn and DOWN then Color.RED else Color.YELLOW);

#Additional Signals

plot UPSignal = Agreement_Level crosses above Confirmation_Factor;
UPSignal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
UPSignal.SetLineWeight(1);
UPSignal.SetDefaultColor(Color.green);

plot DOWNSignal = Agreement_Level crosses below Confirmation_Factor;
DOWNSignal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
DOWNSignal.SetLineWeight(1);
DOWNSIGNAL.SetDefaultColor(Color.red);
It is this section of code that is providing the big PIVOT arrows (VWAP Pivots)

Code:
#VWAP_Pivot Signals
def n = 20;
def ticks = 2.0;
def bnOK = barNumber() > n;
def isHigher = fold i = 1 to n + 1 with p = 1 while p do high > GetValue(high, -i);
def HH = if bnOK and isHigher and high == Highest(high, n)then high else Double.NaN;
def isLower = fold j = 1 to n + 1 with q = 1 while q do low < GetValue(low, -j);
def LL = if bnOK and isLower and low == Lowest(low, n) then low else Double.NaN;
def PivH = if HH > 0 then HH else Double.NaN;
def PivL = if LL > 0 then LL else Double.NaN;

plot UpPivotLow = !isNaN(PivL);
UpPivotLow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
UpPivotLow.SetLineWeight(3);
UpPivotLow.SetDefaultColor(Color.GREEN);

plot DownPivotHigh = !isNaN(PivH);
DownPivotHigh.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
DownPivotHigh.SetLineWeight(3);
DownPivotHigh.SetDefaultColor(Color.RED);
 
It is this section of code that is providing the big PIVOT arrows (VWAP Pivots)

Code:
#VWAP_Pivot Signals
def n = 20;
def ticks = 2.0;
def bnOK = barNumber() > n;
def isHigher = fold i = 1 to n + 1 with p = 1 while p do high > GetValue(high, -i);
def HH = if bnOK and isHigher and high == Highest(high, n)then high else Double.NaN;
def isLower = fold j = 1 to n + 1 with q = 1 while q do low < GetValue(low, -j);
def LL = if bnOK and isLower and low == Lowest(low, n) then low else Double.NaN;
def PivH = if HH > 0 then HH else Double.NaN;
def PivL = if LL > 0 then LL else Double.NaN;

plot UpPivotLow = !isNaN(PivL);
UpPivotLow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
UpPivotLow.SetLineWeight(3);
UpPivotLow.SetDefaultColor(Color.GREEN);

plot DownPivotHigh = !isNaN(PivH);
DownPivotHigh.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
DownPivotHigh.SetLineWeight(3);
DownPivotHigh.SetDefaultColor(Color.RED);
Yep that's what it looked like, thanks. Any idea on how to create a scan for the big arrow events? Sorry I keep asking - going through tons of tickers right now trying to find them manually but it's super time-consuming.

Any help is appreciated, thanks.
 
Yep that's what it looked like, thanks. Any idea on how to create a scan for the big arrow events? Sorry I keep asking - going through tons of tickers right now trying to find them manually but it's super time-consuming.

Any help is appreciated, thanks.
I'm pretty sure this signal qualifies as repainting. I've watched it for the last 30 minutes and the signal does not come until a future pivot happens. The calculation is taking the value of a bar and looking 20 bars ahead to make a determination on a pivot. I'll keep watching it.
 
I'm going to post the full code below. When I toggle the settings, the big up and down arrows are labelled "UpPivotLow" and "DownPivotHigh" in the plots section. Since I **** at coding I have no real idea what section of code produces the big arrows, but you struck gold by including it, so I hope you can point me in the right direction on how to create a scan.
Here is a code to find the green arrows (as close as I can get the code without the too complex error). This is not the pivot arrows that you had previously mentioned. These are the arrows indicating the Agreement Level has crossed above the Confirmation Factor producing a green candle. Install this as a study, then reference it in the scan setup.
kRWGNZd.png

Code:
#Confirmation Level Scan created 06/09/2021 by Christopher Wilson
#Select the level of agreement among the 15 indicators included.

#MACD with Price
declare lower;
def price = close;
def fastLength = 12;
def slowLength = 26;
def MACDLength = 9;
input MACD_AverageType = {SMA, default EMA};
def MACDLevel = 0.0;

def fastEMA = ExpAverage(price, fastLength);
def slowEMA = ExpAverage(price, slowLength);
def Value;
def Avg;

switch (MACD_AverageType) {
case SMA:
    Value = Average(price, fastLength) - Average(price, slowLength);
    Avg = Average(Value, MACDLength);
case EMA:
    Value = fastEMA - slowEMA;
    Avg = ExpAverage(Value, MACDLength);}
def Diff = Value - Avg;
def Level = MACDLevel;

def condition1 = Value[1] <= Value;

#RSI
input RSI_length = 14;
input RSI_AverageType = AverageType.WILDERS;

def NetChgAvg = MovingAverage(RSI_AverageType, price - price[1], RSI_length);
def TotChgAvg = MovingAverage(RSI_AverageType, AbsValue(price - price[1]), RSI_length);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
def RSI = 50 * (ChgRatio + 1);

def condition2 = (RSI[3] < RSI) is true or (RSI >= 80) is true;

#MFI
input MFI_Length = 14;
def MFIover_Sold = 20;
def MFIover_Bought = 80;
def movingAvgLength = 1;
def MoneyFlowIndex = Average(moneyflow(high, close, low, volume, MFI_Length), movingAvgLength);
def MFIOverBought = MFIover_Bought;
def MFIOverSold = MFIover_Sold;

def condition3 = (MoneyFlowIndex[2] < MoneyFlowIndex) is true or (MoneyFlowIndex > 85) is true;

#Forecast
def na = Double.NaN;
def MidLine = 50;
def Momentum = MarketForecast().Momentum;
def NearT =  MarketForecast().NearTerm;
def Intermed = MarketForecast().Intermediate;
def FOB = 80;
def FOS = 20;
def upperLine = 110;

def condition4 = (Intermed[1] <= Intermed) or (NearT >= MidLine);

#Change in Price
def lengthCIP = 5;
def displace = 0;
def CIP = (price - price[1]);
def AvgCIP = ExpAverage(CIP[-displace], lengthCIP);
def CIP_UP = AvgCIP > AvgCIP[1];
def CIP_DOWN = AvgCIP < AvgCIP[1];

def condition5 = CIP_UP;

#EMA_1
input EMA_length = 12;
def AvgExp = ExpAverage(price[-displace], EMA_length);

def condition6 = (price >= AvgExp) and (AvgExp[2] <= AvgExp);

#EMA_2
input EMA_2length = 20;
def displace2 = 0;
def AvgExp2 = ExpAverage(price[-displace2], EMA_2length);

def condition7 = (price >= AvgExp2) and (AvgExp2[2] <= AvgExp2);

#DMI Oscillator
input DMI_length = 5;
input averageType = AverageType.WILDERS;

def diPlus = DMI(DMI_length, averageType)."DI+";
def diMinus = DMI(DMI_length, averageType)."DI-";

def Osc = diPlus - diMinus;
def Hist = Osc;
def ZeroLine = 0;

def condition8 = Osc >= ZeroLine;

#Trend_Periods
input TP_fastLength = 3;
input TP_slowLength = 4;

def Periods = sign(ExpAverage(close, TP_fastLength) - ExpAverage(close, TP_slowLength));

def condition9 = Periods > 0;

#Polarized Fractal Efficiency
input PFE_length = 5;
input smoothingLength = 2.5;

def PFE_diff = close - close[PFE_length - 1];
def val = 100 * Sqrt(Sqr(PFE_diff) + Sqr(PFE_length)) / sum(Sqrt(1 + Sqr(close - close[1])), PFE_length - 1);

def PFE = ExpAverage(if PFE_diff > 0 then val else -val, smoothingLength);
def UpperLevel = 50;
def LowerLevel = -50;

def condition10 = PFE > ZERoLine;

#Bollinger Bands PercentB
input BBPB_averageType = AverageType.Simple;
input BBPB_length = 20;
def Num_Dev_Dn = -2.0;
def Num_Dev_up = 2.0;

def upperBand = BollingerBands(price, displace, BBPB_length, Num_Dev_Dn, Num_Dev_up, BBPB_averageType).UpperBand;
def lowerBand = BollingerBands(price, displace, BBPB_length, Num_Dev_Dn, Num_Dev_up, BBPB_averageType).LowerBand;

def PercentB = (price - lowerBand) / (upperBand - lowerBand) * 100;
def HalfLine = 50;
def UnitLine = 100;

def condition11 = PercentB > 50;

#STARC Bands
def ATR_length = 15;
def SMA_lengthS = 6;
def multiplier_factor = 1.25;
def valS = Average(price, SMA_lengthS);
def average_true_range = Average(TrueRange(high, close, low), length = ATR_length);
def Upper_BandS = valS[-displace] + multiplier_factor * average_true_range[-displace];
def Middle_BandS = valS[-displace];
def Lower_BandS = valS[-displace] - multiplier_factor * average_true_range[-displace];

def condition12 = (Upper_BandS[1] <= Upper_BandS) and (Lower_BandS[1] <= Lower_BandS);

#Projection Oscillator
def ProjectionOsc_length = 30;#Typically 10
def MaxBound = HighestWeighted(high, ProjectionOsc_length, LinearRegressionSlope(price = high, length = ProjectionOsc_length));
def MinBound = LowestWeighted(low, ProjectionOsc_length, LinearRegressionSlope(price = low, length = ProjectionOsc_length));
def ProjectionOsc_diff = MaxBound - MinBound;
def PROSC = if ProjectionOsc_diff != 0 then 100 * (close - MinBound) / ProjectionOsc_diff else 0;
def PROSC_OB = 80;
def PROSC_OS = 20;

def condition13 = (PROSC > 50);

#Trend Confirmation
#Confirmation_Factor range 1-13.
plot Confirmation_Factor = 7;
#Use for testing conditions individually.
#def Agreement_Level = condition1;
plot Agreement_Level = condition1 + condition2 + condition3 + condition4 + condition5 + condition6 + condition7 + condition8 + condition9 + condition10 + condition11 + condition12 + condition13;

plot UpArrow = Agreement_Level crosses above Confirmation_Factor;
plot DownArrow = Agreement_Level crosses below Confirmation_Factor;
 
Last edited:
It is this section of code that is providing the big PIVOT arrows (VWAP Pivots)

Code:
#VWAP_Pivot Signals
def n = 20;
def ticks = 2.0;
def bnOK = barNumber() > n;
def isHigher = fold i = 1 to n + 1 with p = 1 while p do high > GetValue(high, -i);
def HH = if bnOK and isHigher and high == Highest(high, n)then high else Double.NaN;
def isLower = fold j = 1 to n + 1 with q = 1 while q do low < GetValue(low, -j);
def LL = if bnOK and isLower and low == Lowest(low, n) then low else Double.NaN;
def PivH = if HH > 0 then HH else Double.NaN;
def PivL = if LL > 0 then LL else Double.NaN;

plot UpPivotLow = !isNaN(PivL);
UpPivotLow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
UpPivotLow.SetLineWeight(3);
UpPivotLow.SetDefaultColor(Color.GREEN);

plot DownPivotHigh = !isNaN(PivH);
DownPivotHigh.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
DownPivotHigh.SetLineWeight(3);
DownPivotHigh.SetDefaultColor(Color.RED);
This is from the original code and hasn't been a part of the code in awhile. I would caution anyone against using it. There's a reason it's not part of the current code.
 
Here is a code to find the green arrows (as close as I can get the code without the too complex error). This is not the pivot arrows that you had previously mentioned. These are the arrows indicating the Agreement Level has crossed above the Confirmation Factor producing a green candle. Install this as a study, then reference it in the scan setup.
aHuof08.png
@Christopher84 Thanks. The image you attached is for the Squeeze. I tried Agreement Level crosses above Confirmation Factor but I get an error. Is that how one would setup?
 
Chris, any ETA on when you can include arrows for the latest c3 candles indicator?

Thanks
Not yet unfortunately. Try to remember that the arrows and change in candle color are equivalent. So having an arrow is essentially seeing the same information twice. Another idea in the interim, is to use the Confirmation Candles for the arrows only while using the C3 study.
 
Hi Everyone!
I have just posted C3 v6 on pg.1 of the thread. Most notable change, arrows are back! The arrows will be triggered by the Agreement Level crossing the Confirmation Factor (now an adjustable input). Please note that this is not the same as the Consensus Level. It will be similar to the arrows in Confirmation Candles v10. The SPX and FOREX Version have also been updated.
 
Last edited:
Here is a custom watchlist column for the Confirmation Candles. If you sort the column, it makes it easier to see OB/OS conditions. Especially when grouped with the Super OB/OS custom watchlist column which is also posted below.
Hi Christopher. Love your CC chart! How do you set up the watchlist column? I don't see the columns shown in your image as an option when I paste script into my Scan. Is there another way to do this?
 
Last edited:
Hi Christopher. Love your CC chart! How do you set up the watchlist column? I don't see the columns shown in your image as an option when I paste script into my Scan. Is there another way to do this?
Hi sectorsailor!
Based on your description I’m not really sure. Can you share a screenshot of what’s going on when you try to setup the scan?
 
All I get are the default columns. See image attached. Queried for "Confirm_Level" but nothing shows up. Is there a way to query the scan/study for all stocks that get a new up arrow/buy signal at time of query or within specified number of candles?
wNkTTvj.jpg
 
Last edited:

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
390 Online
Create Post

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top