Repaints AGAIG A Choice Chart Setup for Trading or Scalping with ThinkOrSwim

[july142]

@csricksdds
Thank you for the code, im excited to run it this week. 2 questions.
What do the ORB lines mean ?
What do the yellow dots in some candles signify ?

 

[csricksdds]

@csricksdds
Thank you for the code, im excited to run it this week. 2 questions.
What do the ORB lines mean ?
What do the yellow dots in some candles signify ?

ORB = Opening Range Breakout and the Yellow dots in some candles means more than normal activity taking place, i.e. extra volume. The opening range breakout frequently acts as a pivot point during the day and at the end of day stocks tend to finish trading towards whichever level it's trading above or below that line (not always but frequently).

 

[AJH18]

Hi. You're a genius! Is there a watchlist column script for the green/red painted bar that we could use to signal a watchlist trade?

 

[IceCode]

Sadly no. You cannot be notified when the 'short' and 'long' symbols appear by using scans or alerts.
The "long" and "short" signals are repainters. Appearing and Disappearing.
You would never ever take a trade based solely on a repainting signal.

Sadly no, they can't be made to not repaint. Which is why they are called repainters
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-149342
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833
All threads on the forum preceded with a repaint prefix and all the AGAIG Chart Setups repaint.


The AGAIG chart setups are an excellent representation on the correct use of repainting indicators as part of an overall price action analysis.
This setup only works when you analyze the interaction of ALL the indicators on the whole chart.


@csricksdds recommends using the repainters as a confirming indicator when used with these non-repainters:
https://usethinkscript.com/threads/agaig-trading-guide-summary-in-thinkorswim.19935/
https://usethinkscript.com/threads/...ses-repaint-indicators-for-thinkorswim.20126/
https://usethinkscript.com/threads/agaig-daytrading-scalping-for-success-in-thinkorswim.20383/

I don't think that's what he is asking. I believe there is a way to allow TOS to send you a text message as an alert once a condition is met but I'm not sure how to do it.
I'm still studying this whole script but I believe the "shared_AGAIG_TrendArrows0" study generates the arrows for those histograms.

 

[FellowTrader]

Great work, based on the labels , can we get long/short alerts ?

 

[useThinkScript]

The long / shorts, green / red painted bars are based on the ToS zigzag.

This is a repainter.
ZigZags declares a signal at the lower low at that moment. As the stock continues to fall; the zigzag erases that signal and paints it on the next lower low.
This repainting continues until the stock does actually reverse, making the final signal repainted true.

On VST, there were >30 repainted signals that the stock was at its lowest.

The only way to stop the repainting; is to be able to predict the future; know which lowest low is the last lowest low and know the next bar that occurs is going to be higher. Unfortunately, the ToS app does not have a crystal ball function, so zigzag will forever repaint.

Yes, @IceCode You are correct; it is functionally possible to create watchlists, alerts, scans, conditional orders for repainters.
However, it is against forum guidelines to do so; given it provides no useful information and the possible disastrous consequences of a new member using repainters as stand-alone buy/sell signals.

Sadly no, they can't be made to not repaint. Which is why they are called repainters
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-149342
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833
All threads on the forum preceded with a repaint prefix and all the AGAIG Chart Setups repaint.


The AGAIG chart setups are an excellent representation on the correct use of repainting indicators as part of an overall price action analysis.
This setup only works when you analyze the interaction of ALL the indicators on the whole chart.


@csricksdds recommends using the repainters as a confirming indicator when used with these non-repainters:
https://usethinkscript.com/threads/agaig-trading-guide-summary-in-thinkorswim.19935/
https://usethinkscript.com/threads/...ses-repaint-indicators-for-thinkorswim.20126/
https://usethinkscript.com/threads/agaig-daytrading-scalping-for-success-in-thinkorswim.20383/

@antwerks sadly no.
Because none of the losing trades are factored in; backtesting results of repainters have no value


@AJH18 @FellowTrader @IceCode