Triple Exhaustion Indicator For ThinkOrSwim

TroyX said:
Here`s a modified upper study TMO with vertical lines.


# TMO ((T)rue (M)omentum (O)scilator)
# Mobius
# V01.05.2018
# hint: TMO calculates momentum using the delta of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.

declare Upper;

input length = 14;
input calcLength = 5;
input smoothLength = 3;

def o = open;
def c = close;
def data = fold i = 0 to length
with s
do s + (if c > getValue(o, i)
then 1
else if c < getValue(o, i)
then - 1
else 0);
def EMA5 = ExpAverage(data, calcLength);
def Main = ExpAverage(EMA5, smoothLength);
def Signal = ExpAverage(Main, smoothLength);

def zero = if isNaN(c) then double.nan else 0;

def ob = if isNaN(c) then double.nan else round(length * .7);

def os = if isNaN(c) then double.nan else -round(length * .7);
#___________________________________________________________________add_on
def BUYsignal =Main < OS and Main crosses above Signal;
def SELLsignal = Main > OB and Main crosses below Signal;

addverticalline(BUYsignal,"Buy",color.green,curve.short_dash);
addverticalline(SELLsignal,"Sell",color.red,curve.short_dash);

# End Code TMO
Click to expand...

Thank you for this!
 
kvnknpp1 said:
Hello COS251! Your code for Triple Exhaustion is much appreciated. I've been able to use the SCAN code to find triggers, however it's not working on a day timeframe. Any ideas how I could enable this? Thank you!
Click to expand...
Try reducing the "length" to 799 or less for the daily timeframe. When it is set to 1000 there is not enough information on the chart to do the calculation.
 
curranjohn46 said:
Nice indicator. I am very interested in the scan here. I tried adding this custom scan to thinkorswim but the OK button is greyed out. Are you able to add it the same way I am? See https://snipboard.io/4ozJIE.jpg. Thx.
Click to expand...
That´s because you have multiple plots in your scan, you need to have only one for each scan condition so for example, if you want to scan for bull arrow up, remove all the other plots or blank them using # and leave only the arrow up plot. Then your OK button will be avaliable again.
 
@cos251
What's the difference between these 2 pieces of code:

FVO Scanner
# --- Arrows/Triggers
plot RegularBuyArrow = if sellerRegular[1] and !sellerRegular then 1 else Double.NaN;
plot RegularSellArrow = if buyerRegular[1] and !buyerRegular then 1 else Double.NaN;

Triple Indicator Study
# --- Arrows/Triggers
plot RegularBuy = if sellerRegular[1] and !sellerRegular then low else Double.NaN;
plot RegularSell = if buyerRegular[1] and !buyerRegular then high else Double.NaN;

I've noticed the bottom code gives more false arrows, than the top. How does using '1' vs using 'high/low', affect the study?
 
TroyX said:
Here`s a modified upper study TMO with vertical lines.


# TMO ((T)rue (M)omentum (O)scilator)
# Mobius
# V01.05.2018
# hint: TMO calculates momentum using the delta of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.

declare Upper;

input length = 14;
input calcLength = 5;
input smoothLength = 3;

def o = open;
def c = close;
def data = fold i = 0 to length
with s
do s + (if c > getValue(o, i)
then 1
else if c < getValue(o, i)
then - 1
else 0);
def EMA5 = ExpAverage(data, calcLength);
def Main = ExpAverage(EMA5, smoothLength);
def Signal = ExpAverage(Main, smoothLength);

def zero = if isNaN(c) then double.nan else 0;

def ob = if isNaN(c) then double.nan else round(length * .7);

def os = if isNaN(c) then double.nan else -round(length * .7);
#___________________________________________________________________add_on
def BUYsignal =Main < OS and Main crosses above Signal;
def SELLsignal = Main > OB and Main crosses below Signal;

addverticalline(BUYsignal,"Buy",color.green,curve.short_dash);
addverticalline(SELLsignal,"Sell",color.red,curve.short_dash);

# End Code TMO
Click to expand...
For these variables
input length = 14;
input calcLength = 5;
input smoothLength = 3;

Can you explain the logic? I am asking because I was using one with 21, 5, and 3 and I wanted to know what exact data they affect. Thanks.
 
Anyone can help creating custom watchlist columns for the 4 different trend buy & sell conditions and color them according to study?
 
wado729 said:
@cos251
What's the difference between these 2 pieces of code:

FVO Scanner
# --- Arrows/Triggers
plot RegularBuyArrow = if sellerRegular[1] and !sellerRegular then 1 else Double.NaN;
plot RegularSellArrow = if buyerRegular[1] and !buyerRegular then 1 else Double.NaN;

Triple Indicator Study
# --- Arrows/Triggers
plot RegularBuy = if sellerRegular[1] and !sellerRegular then low else Double.NaN;
plot RegularSell = if buyerRegular[1] and !buyerRegular then high else Double.NaN;

I've noticed the bottom code gives more false arrows, than the top. How does using '1' vs using 'high/low', affect the study
Click to expand...

The top one is for the scan (value = true) the second one is for the indicator. Sorry, should have updated the comment as well.
Same result though.
 
cos251 said:
The top one is for the scan (value = true) the second one is for the indicator. Sorry, should have updated the comment as well.
Same result though.
Click to expand...
Thanks for the reply. I'm not getting the same results tho. The FVO top one, triggers the arrow indicator less times then the bottom one.
 
wado729 said:
Thanks for the reply. I'm not getting the same results tho. The FVO top one, triggers the arrow indicator less times then the bottom one.
Click to expand...
Not sure how that is possible, it is the exact same code. I just use a "1" in the scans for simplification. Either the plot has a value (ie. it is "true") or it doesn't and equals Double.NaN.

For the "low" version, the "low" is used so the arrow is plotted under the low of the corresponding candle.
 
Chence27 said:
Triple Exhaustion Indicator For ThinkOrSwim
This is a pretty powerful indicator showing buy and sell exhaustion (MACD, Stochastic and DMI all in an extreme condition). When the exhaustion ends, expect a reversal. Thank you @cos251 for the code!

Code: 
## Triple Exhaustion Indicator
##
##
## CREDITS
## Requested by @Chence27 from criteria listed here https://usethinkscript.com/threads/triple-exhaustion-indicator.9001/
##
##
## Removing the header Credit credits and description is not permitted, any modification needs to be shared.
##
## V 1.0 :    @cos251 - Initial release per request from www.usethinkscript.com forum thread:
##       :    https://usethinkscript.com/threads/triple-exhaustion-indicator.9001/
## V 1.1 : @chence27 - modifcations to better approximate original study
##
##
##

declare upper;

# --- Inputs
input over_bought = 80;
input over_sold = 20;
input KPeriod = 10;
input DPeriod = 10;
input priceH = high;
input priceL = low;
input priceC = close;
input averageType = AverageType.SIMPLE;
input length = 1000;
input paintBars = yes;
input showLabels = yes;


# --- Indicators - StochasticSlow / MACD / MACD StDev / DMI+/-
def SlowK = reference StochasticFull(over_bought, over_sold, KPeriod, DPeriod, priceH, priceL, priceC, 3, averageType).FullK;
def MACD = reference MACD()."Value";
def priceMean = Average(MACD, length);
def MACD_stdev =  (MACD - priceMean) / StDev(MACD, length);
def dPlus = reference DMI()."DI+";
def dMinus = reference DMI()."DI-";
# --- End Indicators

# --- Conditions
def sellerRegular = SlowK < 20 and MACD_stdev < -1 and dPlus < 15;
def sellerExtreme = SlowK < 20 and MACD_stdev < -2 and dPlus < 15;
def buyerRegular = SlowK > 80 and MACD_stdev > 1 and dMinus < 15;
def buyerExtreme = SlowK > 80 and MACD_stdev > 2 and dMinus < 15;
# --- End Conditions

# -- Price Color
AssignPriceColor( if paintBars and sellerExtreme then Color.CYAN else if buyerExtreme and paintBars then Color.MAGENTA else if paintBars and sellerRegular then Color.GREEN else if buyerRegular and paintBars then Color.RED else if paintBars then Color.GRAY else Color.Current);

# --- Arrows/Triggers
plot RegularBuy = if sellerRegular[1] and !sellerRegular then low else Double.NaN;

RegularBuy.SetPaintingStrategy(PaintingSTrategy.ARROW_UP);

RegularBuy.SetDefaultColor(Color.GREEN);


plot RegularSell = if buyerRegular[1] and !buyerRegular then high else Double.NaN;

RegularSell.SetPaintingStrategy(PaintingSTrategy.ARROW_Down);

RegularSell.SetDefaultColor(Color.RED);


# --- Labels
AddLabel(showLabels,"SellerRegular",Color.RED);
AddLabel(showLabels,"SellerExtreme",Color.MAGENTA);
AddLabel(showLabels,"BuyerRegular",Color.GREEN);
AddLabel(showLabels,"BuyerExtreme",Color.CYAN);


VSftwHT.png

3R1WY6H.png
Click to expand...
How do i use this as a scanner filter? Is alrdy added to studies, and i tried selecting buy/sell for plot and condition is true. but no match
 
wado729 said:
For these variables
input length = 14;
input calcLength = 5;
input smoothLength = 3;

Can you explain the logic? I am asking because I was using one with 21, 5, and 3 and I wanted to know what exact data they affect. Thanks.
Click to expand...
Lower input length means faster reaction to price. I would open two instances of the study and compare the results for each input length.
 
At home today so I'm able to watch this perform on the 10 minute charts. I generally don't intraday trade/scalp. When a sell signal appears at the opening of a candle, it takes a lot of patience to wait for that candle to print before entering. From what I am seeing, though, it is definitely worth the patience to wait!
 
cos251 said:
Not sure how that is possible, it is the exact same code. I just use a "1" in the scans for simplification. Either the plot has a value (ie. it is "true") or it doesn't and equals Double.NaN.

For the "low" version, the "low" is used so the arrow is plotted under the low of the corresponding candle.
Click to expand...
I've been going back and forth on this all morning lol, please see the image below.
On the left is the study, on the right is the scan. I only changed the smoothing and added the arrow logic to the Scan so they could match but as you see, they give different results. All the settings are the same too.

The arrow is not printing BUT is that because of high vs 1? Because i'll run the scan and the arrow will be on the chart, but the ticker doesnt show up in the scan.

https://imgur.com/a/4JV0LRt
 
zeek said:
Exactly, it´s the signal you want to wait for to line up on both indicators and i even blanked out the OB & OS part of the code on my TMO study and then overlaid only the signal lines on the upper chart which makes the signals even more clear to see. I like it a lot on the 10min timeframe but also the 4/5min works well.
Click to expand...
Would you be willing to post it or post a link to this?
 
wado729 said:
Would you be willing to post it or post a link to this?
Click to expand...
Sure, here´s the modified TMO code i use with AlertDisplace added if you only want the alert to trigger after candle has closed. Remember to
uncheck all the boxes in plot settings as well.

Code: 
#True (M)omentum (O)scilator)
# Mobius
# V01.05.2018
# hint: TMO calculates momentum using the delta of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.

#declare Lower;

input length = 14;
input calcLength = 5;
input smoothLength = 3;
input AlertDisplace = 0;

def o = open;
def c = close;
def data = fold i = 0 to length
           with s
           do s + (if c > getValue(o, i)
                   then 1
                   else if c < getValue(o, i)
                        then - 1
                        else 0);
def EMA5 = ExpAverage(data, calcLength);
plot Main = ExpAverage(EMA5, smoothLength);
plot Signal = ExpAverage(Main, smoothLength);
     Main.AssignValueColor(if Main > Signal
                           then color.green
                           else color.light_red);
     Signal.AssignValueColor(if Main > Signal
                             then color.green
                             else color.light_red);
     Signal.HideBubble();
     Signal.HideTitle();
#addCloud(Main, Signal, color.green, color.light_red);
plot zero = if isNaN(c) then double.nan else 0;
     zero.SetDefaultColor(Color.gray);
     zero.hideBubble();
     zero.hideTitle();
plot ob = if isNaN(c) then double.nan else round(length * .7);
     ob.SetDefaultColor(Color.gray);
     ob.HideBubble();
     ob.HideTitle();
plot os = if isNaN(c) then double.nan else -round(length * .7);
     os.SetDefaultColor(Color.gray);
     os.HideBubble();
     os.HideTitle();
#addCloud(ob, length, color.light_red, color.light_red, no);
#addCloud(-length, os, color.light_green, color.light_green);

def BUYsignal =Main < OS and Main crosses above Signal;
def SELLsignal = Main > OB and Main crosses below Signal;
addverticalline(BUYsignal,"Buy",color.green,curve.short_dash);
addverticalline(SELLsignal,"Sell",color.red,curve.short_dash);

# Alerts
Alert(BuySignal[AlertDisplace], " ", Alert.Bar, Sound.ding);
Alert(SellSignal[AlertDisplace], " ", Alert.Bar, Sound.chimes);
 
zeek said:
Sure, here´s the modified TMO code i use with AlertDisplace added if you only want the alert to trigger after candle has closed. Remember to
uncheck all the boxes in plot settings as well.

Code: 
#True (M)omentum (O)scilator)
# Mobius
# V01.05.2018
# hint: TMO calculates momentum using the delta of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.

#declare Lower;

input length = 14;
input calcLength = 5;
input smoothLength = 3;
input AlertDisplace = 0;

def o = open;
def c = close;
def data = fold i = 0 to length
           with s
           do s + (if c > getValue(o, i)
                   then 1
                   else if c < getValue(o, i)
                        then - 1
                        else 0);
def EMA5 = ExpAverage(data, calcLength);
plot Main = ExpAverage(EMA5, smoothLength);
plot Signal = ExpAverage(Main, smoothLength);
     Main.AssignValueColor(if Main > Signal
                           then color.green
                           else color.light_red);
     Signal.AssignValueColor(if Main > Signal
                             then color.green
                             else color.light_red);
     Signal.HideBubble();
     Signal.HideTitle();
#addCloud(Main, Signal, color.green, color.light_red);
plot zero = if isNaN(c) then double.nan else 0;
     zero.SetDefaultColor(Color.gray);
     zero.hideBubble();
     zero.hideTitle();
plot ob = if isNaN(c) then double.nan else round(length * .7);
     ob.SetDefaultColor(Color.gray);
     ob.HideBubble();
     ob.HideTitle();
plot os = if isNaN(c) then double.nan else -round(length * .7);
     os.SetDefaultColor(Color.gray);
     os.HideBubble();
     os.HideTitle();
#addCloud(ob, length, color.light_red, color.light_red, no);
#addCloud(-length, os, color.light_green, color.light_green);

def BUYsignal =Main < OS and Main crosses above Signal;
def SELLsignal = Main > OB and Main crosses below Signal;
addverticalline(BUYsignal,"Buy",color.green,curve.short_dash);
addverticalline(SELLsignal,"Sell",color.red,curve.short_dash);

# Alerts
Alert(BuySignal[AlertDisplace], " ", Alert.Bar, Sound.ding);
Alert(SellSignal[AlertDisplace], " ", Alert.Bar, Sound.chimes);
Click to expand...

Thank you very much for this; it looks great! I read through the past posts, but don't understand how I can create a Scan based on this idea. I got the grey "ok" button that someone mentioned before, and you told them only 1 item can be TRUE. I commented out 3 of the 4, but get no results when I run the Scan. I'm new to TOS scans and scripts, so any help is very appreciated!
 
cos251 said:
Triple Exhaustion Indicator SCAN (Scanner)
Ruby: 
## Triple Exhaustion Indicator SCAN
##
##
## CREDITS
## Requested by @Chence27 from criteria listed here https://usethinkscript.com/threads/triple-exhaustion-indicator.9001/
## SCAN requested by @Trader_Andrew
##
## Removing the header Credit credits and description is not permitted, any modification needs to be shared.
##
## V 1.0 :    @cos251 - Initial release per request from www.usethinkscript.com forum thread:
##       :    https://usethinkscript.com/threads/triple-exhaustion-indicator.9001/
##       :    SCAN version requested by @Trader_Andrew
##
##
##


# --- Inputs
input over_bought = 80;
input over_sold = 20;
input KPeriod = 10;
input DPeriod = 10;
input priceH = high;
input priceL = low;
input priceC = close;
input averageType = AverageType.SIMPLE;
input length = 1000;
input paintBars = yes;
input showLabels = yes;


# --- Indicators - StochasticSlow / MACD / MACD StDev / DMI+/-
def SlowK = reference StochasticFull(over_bought, over_sold, KPeriod, DPeriod, priceH, priceL, priceC, 3, averageType).FullK;
def MACD = reference MACD()."Value";
def priceMean = Average(MACD, length);
def MACD_stdev =  (MACD - priceMean) / StDev(MACD, length);
def dPlus = reference DMI()."DI+";
def dMinus = reference DMI()."DI-";
# --- End Indicators

# --- Conditions
def sellerRegular = SlowK < 20 and MACD_stdev < -1 and dPlus < 15;
def buyerRegular = SlowK > 80 and MACD_stdev > 1 and dMinus < 15;
# --- End Conditions

# --- Arrows/Triggers
plot RegularBuyArrow = if sellerRegular[1] and !sellerRegular then 1 else Double.NaN;
plot RegularSellArrow = if buyerRegular[1] and !buyerRegular then 1 else Double.NaN;
plot RegularBuyTrendExists = if sellerRegular then 1 else Double.NaN;
plot RegularSellTrendExists = if buyerRegular then 1 else Double.NaN;
Click to expand...
I've been trying to get this SCAN to work on longer times frames for days now, I think I figured it out. In order for the SCAN to work on daily timeframes, I had to change the SCAN length to 100 to 400 .

On the actual Daily Chart of the Ticker, the study has 799 as the length but for the SCAN, it had to be 100 to 400 for me.
 
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