Repaints AGAIG ZigZag Lower Verticals For ThinkOrSwim

Repaints

csricksdds

Active member
VIP
Several have asked if there is a way to make the vertical line edition of this indicator thicker, but of course there is not. I would like them thicker as well. In addition to using my upper vertical lines I made a lower Histogram to more easily catch the eye. Even though this indicator will repaint it has been the most accurate indicator I use. I typically day trade the SPY and/or QQQs on a 5 min. Daily Chart, although this is AsGoodAsItGets on most stocks or ETFs you trade.
yrLt6k0.png


Here is the code:
Ruby:
# 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 lower;

input atrreversal = 2.0;

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.SQUARED_HISTOGRAM);
signaldown.DefineColor("signaldown", Color.Red);
AddVerticalLine(!isNAN(EIH),"SHORT", color.red,curve.long_dash);

plot signalrevBot = !isNaN(EIL);

Signalrevbot.SetPaintingStrategy(PaintingStrategy.SQUARED_HISTOGRAM);
signalrevBot.DefineColor("signalrevBot", Color.GREEN);
AddVerticalLine(!isNAN(EIL),"LONG", color.Green,curve.long_dash);

##End Code
 
Last edited by a moderator:
Looks amazing for options trading.

.

I made substantial improvements!!!!!!!!!!

I added labels that tell you how many shares you can purchase with your budget at the plot lines.

I added Long & Short profit labels that tell you how much money you'll make if you buy with your budget at the bullish plot line, and how much money you would have made by shorting with your budget on the bearish plot line.


I also made the plot lines say what price they're at.

http://tos.mx/!Mho7uhTb

Code:
# 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
# Enhanced to continuously display profit labels for both buy and sell signals
# and to show companion labels for the starting prices of shorting and longing

declare lower;

input atrreversal = 2.0;
input sharePurchaseBudget = 5000; # Adjusted your budget to $5000
input showProfitLabels = yes; # Toggle the display of profit labels

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.SQUARED_HISTOGRAM);
signaldown.SetDefaultColor(Color.white);
AddVerticalLine(!isNAN(EIH),"SHORT @ " + AsDollars(priceh), Color.white, Curve.firm);
AddLabel(!isNAN(EIH) and showProfitLabels, "SHORT Signal Price: " + AsDollars(priceh), Color.WHITE);

plot signalrevBot = !isNaN(EIL);
signalrevBot.SetPaintingStrategy(PaintingStrategy.SQUARED_HISTOGRAM);
signalrevBot.SetDefaultColor(Color.cyan);
AddVerticalLine(!isNAN(EIL),"LONG @ " + AsDollars(pricel), Color.cyan, Curve.FIRM);
AddLabel(!isNAN(EIL) and showProfitLabels, "LONG Signal Price: " + AsDollars(pricel), Color.CYAN);

# Detect signal appearances to control profit calculations
def newBuySignal = Crosses(!IsNaN(EIL), 0.5, CrossingDirection.ABOVE);
def newSellSignal = Crosses(!IsNaN(EIH), 0.5, CrossingDirection.ABOVE);

def lastBuyPrice = if newBuySignal then pricel else lastBuyPrice[1];
def lastSellPrice = if newSellSignal then priceh else lastSellPrice[1];
def lastCoverPrice = if newBuySignal then pricel else lastCoverPrice[1];

# Calculate potential profits and update continuously
def sharesToShort = Round(sharePurchaseBudget / lastSellPrice);
def sharesToBuy = Round(sharePurchaseBudget / lastBuyPrice);

# Correcting the short profit calculation based on new entry and exit points
def shortEntryPrice = if newSellSignal then lastSellPrice else shortEntryPrice[1];
def shortExitPrice = if newBuySignal then lastCoverPrice else shortExitPrice[1];
def shortProfit = (shortEntryPrice - shortExitPrice) * sharesToShort;
def updatedShortProfit = if newBuySignal then shortProfit else updatedShortProfit[1]; # Update profit only on exit signal

# Adding Long Entry and Exit Prices, and Long Profit Calculation
def longEntryPrice = lastBuyPrice;
def longExitPrice = if newSellSignal then lastSellPrice else longExitPrice[1];
def longProfit = (longExitPrice - longEntryPrice) * sharesToBuy;
def updatedLongProfit = if newSellSignal then longProfit else updatedLongProfit[1]; # Update profit only on exit signal

# Corrected Short Profit display based on entry at signaldown and exit at signalrevBot
AddLabel(showProfitLabels, "Short Entry Price: " + AsDollars(shortEntryPrice) + ", Exit Price: " + AsDollars(shortExitPrice), Color.WHITE);
AddLabel(yes, "Shares to short @ GO-Short plot: " + sharesToShort + " shares", Color.WHITE);
AddLabel(showProfitLabels, "Short - Profit: " + AsDollars(updatedShortProfit), if updatedShortProfit > 0 then Color.white else Color.RED);

# Adding Labels for Long Position
AddLabel(showProfitLabels, "Long Entry Price: " + AsDollars(longEntryPrice) + ", Exit Price: " + AsDollars(longExitPrice), Color.CYAN);
AddLabel(yes, "Shares to Buy @ Go-Long plot: " + sharesToBuy + " shares", Color.CYAN);
AddLabel(showProfitLabels, "Long - Profit: " + AsDollars(updatedLongProfit), if updatedLongProfit > 0 then Color.CYAN else Color.RED);
 

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