Repaints AGAIG ZigZag Arrows For ThinkOrSwim

[csricksdds]

I thought I had posted this before but can't find it on my posts. This is a change in direction indicator.
AsGoodAsItGets Trend Arrows:

Here is the code:

#CSR Buy/Sell Arrows with Short/LongHaulFilter Bubbles
#Developed 4-9-22 First Edition
#Modified by C. Ricks to show direction arrows only (Large Yellow Arroews Up/Down

declare upper;

input atrreversal = 2.0;#Hint atrreversal: Turn down for more entries, up for less entries. Purple signal indicates low point reversal and close approaching Kijun. Orange signal indicates the price is crossing the Kijun. Green signal indicates the low of the candle holds over the Kijun. Red signal means reversal at a high point.
def priceh = MovingAverage(AverageType.EXPONENTIAL, high, 5);
def pricel = MovingAverage(AverageType.EXPONENTIAL, low, 5);

def EIL = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = .01, "absolute reversal" = .05, "atr length" = 5, "atr reversal" = atrreversal).lastL;
def EIH = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = .01, "absolute reversal" = .05, "atr length" = 5, "atr reversal" = atrreversal).lastH;

plot signaldown = !isNAN(EIH);
signaldown.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_down);
signaldown.setdefaultcolor (CreateColor (255, 255, 0));



plot signalrevBot = !isNaN(EIL);
signalrevBot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_up);
signalrevBot.setdefaultcolor (CreateColor (255, 255, 0));

#End Code

 

[csricksdds]

Here is the code with vertical lines instead of arrows:

# AsGoodAsItGets Lower Indicator
#CSR Buy/Sell Arrows with Short/Long Bubbles
#Developed 4-23-23 First Edition 8-23-22 Revised
#Updated 3/16/24 by C. Ricks

declare upper;

input atrreversal = 2.5;

def priceh = MovingAverage(AverageType.EXPONENTIAL, high, 5);
def pricel = MovingAverage(AverageType.EXPONENTIAL, low, 5);

def EIL = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = .01, "absolute reversal" = .05, "atr length" = 5, "atr reversal" = atrreversal).lastL;
def EIH = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = .01, "absolute reversal" = .05, "atr length" = 5, "atr reversal" = atrreversal).lastH;

def signaldown = !isNAN(EIH);

AddVerticalLine(signaldown, "EXT UP  +2.5 SD", Color.Red);


def signalrevBot = !isNaN(EIL);

AddVerticalLine(signalrevBot, "EXT DOWN  -2.5 SD", Color.Green);


#End Code

 

[csricksdds]

Here is the code with bubbles instead of arrows:

#CSR Buy/Sell Arrows with Short/LongHaulFilter Bubbles
#Developed 4-9-22 First Edition

declare upper;

input atrreversal = 2.0;#Hint atrreversal: Turn down for more entries, up for less entries. Purple signal indicates low point reversal and close approaching Kijun. Orange signal indicates the price is crossing the Kijun. Green signal indicates the low of the candle holds over the Kijun. Red signal means reversal at a high point.   
def priceh = MovingAverage(AverageType.EXPONENTIAL, high, 5); 
def pricel = MovingAverage(AverageType.EXPONENTIAL, low, 5); 

def EIL = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = .01, "absolute reversal" = .05, "atr length" = 5, "atr reversal" = atrreversal).lastL; 
def EIH = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = .01, "absolute reversal" = .05, "atr length" = 5, "atr reversal" = atrreversal).lastH; 

def signaldown = !isNAN(EIH);
 
AddChartBubble(SignalDown, high, "Short", Color.white, no);

def signalrevBot = !isNaN(EIL);

AddChartBubble(Signalrevbot, low, "Long", Color.White, no);

input usealerts = yes;
alert(usealerts and signaldown[1] == 1, "Short", alert.bar, sound.ring);
alert(usealerts and signalrevbot[1] == 1, "Long", alert.bar, sound.ring);



#End Code

 

[csricksdds]

As a trader (AsGoodAsItGets) I am always looking for Trend Continuation. This ZigZag modification I have made carries the trend out to eight places (since bars usually move 6-10 bars I have added 8-Bar average placement for this). Under studies and strategies you can click on the wheel and undo show plots for mah and mal if you choose. I also select high_low for my setting. I am using CYAN for down arrows (easy for me to see) and GREEN for up arrows. I also can't find who wrote the original code and hope you will let me know in order to credit. Image attached:

https://imgur.com/a/9Tp7VNS

Code:

# used to switch between "zigzag based on high/low of price" and "zigzag based on then high/low of moving averages"
#Not sure who to credit for original code but modified by C. Ricks to show continuing arrows (up to 12) under AGAIG_ZigZag_ContinuationArrows 4/7/24

input method = {default average, high_low};

# data for the built-in zigzag indicator which is referenced in the study. To see the ZigZagHighLow() code, look for it in the built-in TOS studies
def bubbleoffset = .0005;
def percentamount = .01;
def revAmount = .05;
def atrreversal = 2.0;
def atrlength = 5;

# data for the moving averages
def pricehigh = high;
def pricelow = low;
def averagelength = 5;
def averagetype = AverageType.EXPONENTIAL;

# here are the moving averages used for the signals - changed to plots and given colors
plot mah = MovingAverage(averagetype, pricehigh, averagelength);
plot mal = MovingAverage(averagetype, pricelow, averagelength);
mah.setdefaultcolor(color.cyan);
mal.setdefaultcolor(color.cyan);

# continues the switch between the two different zigzag data points
def priceh = if method == method.high_low then pricehigh else mah;
def pricel = if method == method.high_low then pricelow else mal;

# references the built-in zigzag indicator
def EI = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = percentamount, "absolute reversal" = revAmount, "atr length" = atrlength, "atr reversal" = atrreversal);

# not very clear on how this exactly works - but the end result is to plot the zigzag lines
def reversalAmount = if (close * percentamount / 100) > Max(revAmount < atrreversal * reference ATR(atrlength), revAmount) then (close * percentamount / 100) else if revAmount < atrreversal * reference ATR(atrlength) then atrreversal * reference ATR(atrlength) else revAmount;
rec EISave = if !IsNaN(EI) then EI else GetValue(EISave, 1);
def chg = (if EISave == priceh then priceh else pricel) - GetValue(EISave, 1);
def isUp = chg >= 0;
rec isConf = AbsValue(chg) >= reversalAmount or (IsNaN(GetValue(EI, 1)) and GetValue(isConf, 1));
def EId = if isUp then 1 else 0;


# calculates and plots the arrows
def EIL = if !IsNaN(EI) and !isUp then pricel else GetValue(EIL, 1);
def EIH = if !IsNaN(EI) and isUp then priceh else GetValue(EIH, 1);
def dir = CompoundValue(1, if EIL != EIL[1] or pricel == EIL[1] and pricel == EISave then 1 else if EIH != EIH[1] or priceh == EIH[1] and priceh == EISave then -1 else dir[1], 0);
def signal = CompoundValue(1, if dir > 0 and pricel > EIL then if signal[1] <= 0 then 1 else signal[1] else if dir < 0 and priceh < EIH then if signal[1] >= 0 then -1 else signal[1] else signal[1], 0);
def showarrows = yes;
plot U1 = showarrows and signal > 0 and signal[1] <= 0;
U1.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
U1.SetDefaultColor(Color.GREEN);
U1.SetLineWeight(4);
plot D1 = showarrows and signal < 0 and signal[1] >= 0;
D1.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
D1.SetDefaultColor(Color.Cyan);
D1.SetLineWeight(4);

plot D2 = showarrows and signal < 0 and signal[2] >= 0;
D2.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
D2.SetDefaultColor(Color.Cyan);
D2.SetLineWeight(4);

plot D3 = showarrows and signal < 0 and signal[3] >= 0;
D3.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
D3.SetDefaultColor(Color.Cyan);
D3.SetLineWeight(4);

plot D4 = showarrows and signal < 0 and signal[4] >= 0;
D4.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
D4.SetDefaultColor(Color.Cyan);
D4.SetLineWeight(4);

plot D5 = showarrows and signal < 0 and signal[5] >= 0;
D5.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
D5.SetDefaultColor(Color.Cyan);
D5.SetLineWeight(4);

plot D6 = showarrows and signal < 0 and signal[6] >= 0;
D6.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
D6.SetDefaultColor(Color.Cyan);
D6.SetLineWeight(4);

plot D7 = showarrows and signal < 0 and signal[7] >= 0;
D7.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
D7.SetDefaultColor(Color.Cyan);
D7.SetLineWeight(4);

plot D8 = showarrows and signal < 0 and signal[8] >= 0;
D8.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
D8.SetDefaultColor(Color.Cyan);
D8.SetLineWeight(4);



plot U2 = showarrows and signal > 0 and signal[2] <= 0;
U2.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
U2.SetDefaultColor(Color.GREEN);
U2.SetLineWeight(4);

plot U3 = showarrows and signal > 0 and signal[3] <= 0;
U3.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
U3.SetDefaultColor(Color.GREEN);
U3.SetLineWeight(4);

plot U4 = showarrows and signal > 0 and signal[4] <= 0;
U4.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
U4.SetDefaultColor(Color.GREEN);
U4.SetLineWeight(4);

plot U5 = showarrows and signal > 0 and signal[5] <= 0;
U5.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
U5.SetDefaultColor(Color.GREEN);
U5.SetLineWeight(4);

plot U6 = showarrows and signal > 0 and signal[6] <= 0;
U6.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
U6.SetDefaultColor(Color.GREEN);
U6.SetLineWeight(4);

plot U7 = showarrows and signal > 0 and signal[7] <= 0;
U7.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
U7.SetDefaultColor(Color.GREEN);
U7.SetLineWeight(4);

plot U8 = showarrows and signal > 0 and signal[8] <= 0;
U8.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
U8.SetDefaultColor(Color.GREEN);
U8.SetLineWeight(4);



##End Code

 

[jdon01]

This is an interesting indicator. Since the indicator repaints, I would be curious to see what the chart would look like if the first arrow plot of the trend change was kept while continuing to let the indicator repaint its signals. Being able to see intermediate arrows would be nice as well but it is not as significant to view as the original arrow plot. Could someone on this forum please let me know if this is possible. I am still deciding whether to use this to guide me in my manual trading process and a visual would be great in helping me make that decision.

 

[csricksdds]

This is an interesting indicator. Since the indicator repaints, I would be curious to see what the chart would look like if the first arrow plot of the trend change was kept while continuing to let the indicator repaint its signals. Being able to see intermediate arrows would be nice as well but it is not as significant to view as the original arrow plot. Could someone on this forum please let me know if this is possible. I am still deciding whether to use this to guide me in my manual trading process and a visual would be great in helping me make that decision.

You might want to add an oscillator to you chart as the oscillator leaves a footprint behind showing where it has been non-repainting). Also hi/lo pivot lines will show the highest/lowest points achieved thus far.