Adding breakouts and DSS to MACD indicator for ThinkorSwim?

netarchitech

netarchitech

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The gray line is the PercentR showing the OB condition in red...and OS in cyan...
Yes...Would you like to customize the coloring of the various elements? Let me know when you have a chance...I put my crayons away...Remember? :ROFLMAO:
...the GREEN is the 5 and the RED is the 8?
Yes...
But what are those yellow dots for?
The Yellow Dots represent an extended trend losing energy...The user should start thinking about exiting when they start showing up...They don't necessarily mean THE Top or Bottom...more like an Early Warning System...no, more like the Siren...Does that make sense?
 
netarchitech

netarchitech

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EDIT: When you mean turn off option...do you mean that the end user has the option to turn off both the PercentR smoothing factor along with the moving averages separately OR is this turn off all or turn on all type of a deal?
They are all in it together...
 
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HighBredCloud

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Yes...Would you like to customize the coloring of the various elements? Let me know when you have a chance...I put my crayons away...Remember? :ROFLMAO:

Yes...

The Yellow Dots represent an extended trend losing energy...The user should start thinking about exiting when they start showing up...They don't necessarily mean THE Top or Bottom...more like an Early Warning System...no, more like the Siren...Does that make sense?
@netarchitech just saw the code...didn't appear before...so will test after this reply...I am sure I can change the colors on my own...but if I can't I'll let you now...I actually like what you picked out so might just leave them as is...AND I really like the idea about the yellow dots too. Brilliant! Now lets just see how it works in real life and hope its as good as it looks on paper...
 
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HighBredCloud

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They are all in it together...
@netarchitech That's the part that I really want to play with...because I don't know what the better results would be...regular PercentR with SuperSmootherFiler on the 5 and 8 MA's or ALL SuperSmootherFilter including the PercentR...The issue becomes how the SuperSmootherFilter on PercentR reacts on higher timeframes? Is it late to the party as compared with the regular PercentR or just as effective? I guess I will keep you posted once I successfully load the code and do some testing to answer those "unknown factors."
 
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HighBredCloud

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Again, thanks so much for your kind words and "support"...It makes it all worthwhile!
@netarchitech OK...first glance...I like it a lot! The look the and the overall smoothness...can't beat it. BUT now comes the intention of the indicator and its effect ability...

For the test I have used the "OG" PercentR_MAC titled PR2MAC and the below it is the PRMACSSF with the filter SuperSmootherFilter OFF and to the right is with the SuperSootherFilter ON...I also put the SMIDSSEUO to see how that compares with the PercentR...

I don't know what type of an average period is on the PercentR with SuperSmootherFilter OFF setting is on the PRMACSSF but it looks to hit a lot faster than the "OG" version...I like that. As you can see in the pix below...It might be to the benefit IF you could also make the actual PercentR line able to be turned OFF or ON independently from the MA's...as the user pleases.

Personally I feel that the best of both worlds would be the SuperSmootherFilter applied to the 5 and 8 MA's (which I still need to test if I can use lower MA's that hit a bit faster while still maintain the smoothness of the lines) with whatever setting is used in the PercentR when the SuperSmootherFilter is turned OFF...

The smoothness of the MA's will indicate the overall trend while the jagged lines of the PercentR will indicate possible pullbacks...We are not getting that when both the PercentR and the MA's have the SuperSmootherFilter ON setting on both of them.






https://imgur.com/a/jIB1NIy

Let me know if that is possible what I am suggesting...
 
netarchitech

netarchitech

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OK...first glance...I like it a lot! The look the and the overall smoothness...can't beat it. BUT now comes the intention of the indicator and its effect ability...
Uh oh... I feel like I'm being told to go to the Principal's Office because I just got caught spitballing, even though someone told me it was OK to do it ;)

Silliness aside, I hope you'll bear with me...it's been a long day and I tend to try to use humor as a way to keep my spirits going...

Anywho, I hear ya, @HighBredCloud ...Thank you again for the kind words and confidence-building sentiments expressed...it means more than you know...

As for "...the intention of the indicator and its effect ability...", I'm a little fuzzy on that...feel free to elaborate if you feel so inclined...

It might be to the benefit IF you could also make the actual PercentR line able to be turned OFF or ON independently from the MA's...as the user pleases.
Hmmm...Great idea AND I really like how you push my envelope with these ideas and suggestions...I will just say at this point that I will do the best I can and see how it turns out...

Personally I feel that the best of both worlds would be the SuperSmootherFilter applied to the 5 and 8 MA's (which I still need to test if I can use lower MA's that hit a bit faster while still maintain the smoothness of the lines) with whatever setting is used in the PercentR when the SuperSmootherFilter is turned OFF...
OK...I think what you're saying is apply the SuperSmootherFilter to the MA's and keep the PercentR "rough", so to speak...Does that make sense? Let me know when you have a chance...

Oh, one last thing...thanks so much for the images...it really helps to envision what you are trying to convey when you have the visuals to go with it... :cool:
 
netarchitech

netarchitech

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@HighBredCloud Please refer to the code below:

# plot and smooth PercentR
plot "%R" = if applySmoothing then EhlersSuperSmootherFilter(if divisor equals 0 then 0 else 100 - 100 * (highest - close) / divisor, LowBand) else rough_it;
"%R".DefineColor("OverBought", GetColor(9));
"%R".DefineColor("Normal", GetColor(7));
"%R".DefineColor("OverSold", GetColor(1));
"%R".AssignValueColor(if "%R" > over_Bought then "%R".Color("OverBought") else if "%R" < over_Sold then "%R".Color("OverSold") else "%R".Color("Normal"));
"%R".SetLineWeight(3);


# plot the PercentR Moving Averages
def PercentRMA5 = MovingAverage(PercentRAverageType, "%R", PercentRMALength5);
plot PercentRMovAvg5 = PercentRMA5;
PercentRMovAvg5.SetDefaultColor(Color.GREEN);
PercentRMovAvg5.SetLineWeight(3);

def PercentRMA8 = MovingAverage(PercentRAverageType,
"%R", PercentRMALength8);
plot PercentRMovAvg8 = PercentRMA8;
PercentRMovAvg8.SetDefaultColor(Color.RED);
PercentRMovAvg8.SetLineWeight(3);

You'll notice the three "%R"s...this is what ties these three elements together...As such, they are inseparable...The moving averages derive their data from PercentR...With that said, I will do the requisite research and find out for sure whether or not we will be able to do as you suggest...
 
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HighBredCloud

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Uh oh... I feel like I'm being told to go to the Principal's Office because I just got caught spitballing, even though someone told me it was OK to do it ;)

Silliness aside, I hope you'll bear with me...it's been a long day and I tend to try to use humor as a way to keep my spirits going...

Anywho, I hear ya, @HighBredCloud ...Thank you again for the kind words and confidence-building sentiments expressed...it means more than you know...

As for "...the intention of the indicator and its effect ability...", I'm a little fuzzy on that...feel free to elaborate if you feel so inclined...


Hmmm...Great idea AND I really like how you push my envelope with these ideas and suggestions...I will just say at this point that I will do the best I can and see how it turns out...


OK...I think what you're saying is apply the SuperSmootherFilter to the MA's and keep the PercentR "rough", so to speak...Does that make sense? Let me know when you have a chance...

Oh, one last thing...thanks so much for the images...it really helps to envision what you are trying to convey when you have the visuals to go with it... :cool:
@netarchitech I hear ya...Both of us seem to get caught up with what we do that sometimes we need to humor ourselves to keep going...Spitballing is what leads to good ideas which turn into great inventions...LOL...

What I meant with the intention of the indicator is that you don't want to turn it into an oscillator and its effectability is that by nature the RSI type indicators are never smooth but jagged in their volatile nature...That's why I never liked them to be frank. But they can work wonders when paired with other type of smooth indicators. When you're using a higher timeframe like 1 hour or more...any slight movement displayed by an RSI type indicator will typically lead in that direction...IF you wanna see crazy check out Stochastics RSI...lol...but it can be effective when used on the correct timeframe and a total disaster if not.

And to your last part...That's exactly what what I mean...Keep the smoothness of the moving averages with the jagged PercentR as by having those two indicators together they will balance out one another hopefully. You seem to be able to do everything that I am suggesting and more...so you're just proving it to yourself that YOU CAN DO IT! BTW: this indicator can really serve two functions even as an oscillator type once the SuperSmootherFilter is turned on...AND that is actually pretty cool.
 
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HighBredCloud

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@HighBredCloud Please refer to the code below:


You'll notice the three "%R"s...this is what ties these three elements together...As such, they are inseparable...The moving averages derive their data from PercentR...With that said, I will do the requisite research and find out for sure whether or not we will be able to do as you suggest...
@netarchitech hmmm...what about if the %R that ties all the moving averages together can simply be "unclicked" from the show plot section...and you add a stand alone %R to the equation that is all jagged and such? Would that in theory work?
 
netarchitech

netarchitech

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IF you wanna see crazy check out Stochastics RSI...lol...
I'm gonna take you up on that Invitation because I'm always interested in things that are crazier than myself ;)

so you're just proving it to yourself that YOU CAN DO IT! BTW: this indicator can really serve two functions even as an oscillator type once the SuperSmootherFilter is turned on...AND that is actually pretty cool.

That is pretty cool! :cool:

...what about if the %R that ties all the moving averages together can simply be "unclicked" from the show plot section...and you add a stand alone %R to the equation that is all jagged and such? Would that in theory work?
Hmmm...interesting idea...but you have a lot of those...I think we need to get you scripting...

Forget the furrowed brow, the UI and HFT's will be wetting "their" pants :ROFLMAO:

I'll give it a go just as soon as I brew up another pot of coffee 👍
 
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HighBredCloud

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I'm gonna take you up on that Invitation because I'm always interested in things that are crazier than myself ;)



That is pretty cool! :cool:


Hmmm...interesting idea...but you have a lot of those...I think we need to get you scripting...

Forget the furrowed brow, the UI and HFT's will be wetting "their" pants :ROFLMAO:

I'll give it a go just as soon as I brew up another pot of coffee 👍
@netarchitech me scripting? I am too ADHD for that...I can't sit still and that's what gets me in trouble when I am trading...For once I need to learn to sit on my hands and just wait. Besides someone needs to think of crazy ideas and another needs to make such crazy ideas come to life...One simply cannot offset the balance in the universe...LOL...

I have so many ideas that I thought of simply by browsing through the scripts that hopefully I can toss at you one at a time to see what can be done...As for me I really need to come up with a solid trading strategy that is easy and profitable...and the indicators that you're making need to be the foundation for that. I really think we are on to something here.
 
netarchitech

netarchitech

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I really think we are on to something here.

...and the indicators that you're making...
Strike the "you're" because these indicators are a result of our aforementioned teamwork...therefore, I say "...and the indicators that we're making... ;)

...One simply cannot offset the balance in the universe...LOL...
Tomorrow the AI and the HFT's...The day after that the Universe...Who needs 7 days to get a job done these days :ROFLMAO:
 
netarchitech

netarchitech

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me scripting? I am too ADHD for that...
If I could offer you a little advice...from one who easily gets distracted...think about moving away from 1/3/5/etc. minute or fibonnaci tick charts. They will amplify the ADHD because you're being bombarded by a virtual assault of information...Step out to a 30 minute or 1 hour chart...It won't be easy because the slowing of/waiting for the data will feel like an eternity...but you will feel better after doing so...I promise ;)

With that said, I must admit that I wrestle with impatience all the time and it's easy to fall into the time trap...I think I said before that music is the key for me...A good playlist goes a long way :cool: This one's for you, @HighBredCloud :

 
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horserider

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True. Just pointing out data can only be manipulated in so many ways. Pretty much matched your project by just changing a few lengths in a stochastic study
 
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HighBredCloud

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If I could offer you a little advice...from one who easily gets distracted...think about moving away from 1/3/5/etc. minute or fibonnaci tick charts. They will amplify the ADHD because you're being bombarded by a virtual assault of information...Step out to a 30 minute or 1 hour chart...It won't be easy because the slowing of/waiting for the data will feel like an eternity...but you will feel better after doing so...I promise ;)

With that said, I must admit that I wrestle with impatience all the time and it's easy to fall into the time trap...I think I said before that music is the key for me...A good playlist goes a long way :cool: This one's for you, @HighBredCloud :

@netarchitech yeah tell me about it...I used to trade a 34Tk because the 1 minute seemed like an eternity. That's why I am here...literally trying to change my ways and evolve as a trader...

I told myself that I would need to at least trade a 5 min with a 3 min entry and exit...and or 15 min with a 5 min entry...I would love to trade the 30 min or 1 hour...I just need to take it one step at a time...I really find myself not knowing when to get out on higher timeframes and I just see my P/L deplete itself if I don't get out on a 5 min when trading the 15 min chart...or get out on 3 min when trading the 5 min chart...

Its really hard especially when your scalping and moving away from that mentality into even a 5 min chart let alone swing trading...BUT the longer the chart the bigger the move...and it's even harder not to over trade.

And I agree on music...keeps you calm...Pink Floyd...ALL DAY EVERYDAY for me...lol.
 
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HighBredCloud

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@horserider IF you really think about it a lot of studies are redundant in what they are...I don't know if really comparing Slow Stochastics to this is even fair...I'd say its more like comparing it to Stochastics RSI when its fully finished...The RSI indicators are not meant to be pretty by nature...way too volatile for that...Having it pleasing to the eye while it does the job its meant to do is the real challenge here...but I think when done the way its intended to be it should be an alternative for RSI or PercentR...its making a good indicator better...That's all.
 
netarchitech

netarchitech

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The following is 25 minutes long...Sit back, relax and enjoy...I'll be here when you're done...I'm working on a prototype of the UI and logic for the PercentR - MovingAverages "to smooth or not to smooth" enhancement ;)

 

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