3 Days Momentum Reversal Scanner for ThinkorSwim

BenTen

BenTen

Administrative
Staff
VIP
Warehouse
This scanner allows you to scan for potential stocks with momentum gathering to the downside and upside in ThinkorSwim. I also turned these scanners into an indicator that plot up and down arrows on your chart.
  • Bullish signal = 3 days up in price and volume
  • Bullish reversal = 3 days down in price, 3 days down in volume
  • Bearish reversal = 3 days down in price, 3 days up in volume

Import the code below as a Study. Switch over to the StockHacker tab and look up its name. Scan for bullA, bullB, and/or bearC.



thinkScript Code

Code:
# Original code found at https://github.com/hwrdprkns/ThinkOrSwim/blob/master/StockHackerSCAN.ts
# Modified by BenTen to plot arrows on chart

# A. 3 DAYS UP, PRICE AND VOLUME (BULLISH)
def bullishA = (CLOSE > CLOSE[1] AND
CLOSE [1] > CLOSE [2] AND VOLUMEAVG(LENGTH = 20) > VOLUMEAVG(LENGTH = 20)[1] AND VOLUMEAVG(LENGTH = 20)[1] > VOLUMEAVG(LENGTH = 20)[2]);
plot bullA = bullishA;
bullA.AssignValueColor(Color.WHITE);
bullA.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);

# B. 3 DAYS DOWN IN PRICE, 3 DAYS DOWN IN VOLUME (BULLISH REVERSAL)
def bullishB = (CLOSE < CLOSE[1] AND
CLOSE [1] < CLOSE [2] AND
VOLUMEAVG(LENGTH = 20) > VOLUMEAVG(LENGTH = 20)[1] AND
VOLUMEAVG(LENGTH = 20)[1] > VOLUMEAVG(LENGTH = 20)[2]);
plot bullB = bullishB;
bullB.AssignValueColor(Color.CYAN);
bullB.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);

# C. 3 DAYS DOWN IN PRICE, 3 DAYS UP IN VOLUME (BEARISH REVERSAL)
def bearishC = (CLOSE < CLOSE[1] AND
CLOSE [1] < CLOSE [2] AND
VOLUMEAVG(LENGTH = 20) > VOLUMEAVG(LENGTH = 20)[1] AND
VOLUMEAVG(LENGTH = 20)[1] > VOLUMEAVG(LENGTH = 20)[2]);
plot bearC = bearishC;
bearC.AssignValueColor(Color.YELLOW);
bearC.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

Shareable Link

 
N

Nick

Member
VIP
Hi Ben Thanks for sharing. Just to share, pls select the condition " as value" so that it can be saved as your defined scan name.
 

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