All-in-1 consolidation/lack of directional momentum Indicator

Shinthus

Shinthus

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I have been thinking of an all-in-1 indicator that gives a signal for "don't trade" when ADX, TTM Squeeze (Bollinger Bands inside Keltner Channel), DMI, and any other consolidation or neutral-trend indicators fire at the same time or within a certain amount of candles to each other. Horserider was kind in sharing a great indicator here: https://usethinkscript.com/threads/adx-trend-label.403/#post-2740 that is a banner in the top left that tells you if the ADX is high or low. What if someone made a banner with all of the "trend neutral" indicators in existence?

 
Shinthus

Shinthus

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TTM Squeeze is a great way to avoid trades. I just put TTM Sq on my chart in addition to DMI and it crunched everything up so much that its hard on the eyes.
 
markos

markos

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TTM Squeeze is a great way to avoid trades. I just put TTM Sq on my chart in addition to DMI and it crunched everything up so much that its hard on the eyes.
That happens... uncheck fit studies and see what happens. You can see the squeeze at the top of the multicolinearity chart you just saw.
Personally, I dislike the ttm squeeze. It's just ATR of Keltner Channels is less than the Std deviation of Bollinger Bands. Big deal. Wow, ragmuch? , must be past dinner time.
 
Shinthus

Shinthus

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That happens... uncheck fit studies and see what happens. You can see the squeeze at the top of the multicolinearity chart you just saw.
Personally, I dislike the ttm squeeze. It's just ATR of Keltner Channels is less than the Std deviation of Bollinger Bands. Big deal. Wow, ragmuch? , must be past dinner time.
What do you suggest is best for determining congestion or neutrality is going on in a stock in a given moment?
 
markos

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What do you suggest is best for determining congestion or neutrality is going on in a stock in a given moment?
Actually, Battle of the Bands seems to work well for others. (Just contradicted myself) Although I haven't used it, ECI, is quite popular with traders in the Think Script Lounge. Search for it in Universe of TS which is in the Tutorial Section > 03. Technical Analysis > Volatility > Then browse like mad.
 
markos

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BTW, I have a long term project to put a list of label scripts together. No time expectation. If you would like, please continue down the path you are on. We do need an indicator for trendless times like 2015. It's called a CSA for Combined Signal Indicator. Have a Good Weekend.
 
Shinthus

Shinthus

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BTW, I have a long term project to put a list of label scripts together. No time expectation. If you would like, please continue down the path you are on. We do need an indicator for trendless times like 2015. It's called a CSA for Combined Signal Indicator. Have a Good Weekend.
WOW what a wealth of knowledge in there! They even have the code for the indicators. I'm gonna go down so many rabbit holes thanks to you LOL. You have a good weekend as well.
 
markos

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What do you suggest is best for determining congestion or neutrality is going on in a stock in a given moment?
You will see why I'm not a big fan of squeezes for My time frame @16:20
@Shinthus please look at this video from the Sr. Market Technician at stockcharts.com:


 
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horserider

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This has been done in ToS as an example. Here is the code.


Code:
#HINT: educational example of how to create code using ThinkScript. This code creates a chart label denoting when all 3 conditions are met.

 

# this line tells ThinkScript where you want the study to appear on the chart -- your choices are declare upper; or declare lower;

 

declare upper;

 

# input fields allow you to quickly edit your custom strategy without need to alter the ThinkScript code.

 

input BB_period = 20;

input ADX_period = 14;

input SMA_period = 9;

 

# def fields allow you to teach ThinkScript new 'words' to make using your new 'words' later in the code easier and faster

 

def x = BollingerBands(BB_period).UpperBand;

def y = adx(ADX_period);

def z = simpleMovingAvg("length" = SMA_period);

 

def condition = close > x AND y > 25 and z > z[1];

 

 

# this line of code is longer than typical chart label and includes the word Concat (telling ThinkScript I'm about to give you several conditions strung together).  This allows the label to appear with different words and different colors depending on whether condition is true or false (true == 1 and false == 0)

 

# with a label, words between "___" will appear in the label. To create a blank label leave blank space or spaces between the " "

 

AddLabel(yes, Concat( "", Concat(" ", 

if condition == 1 then "All 3 conditions are TRUE: BB, ADX, SMA " else

if condition == 0 then "WAIT until BB, ADX and SMA are all true " else " WAIT ")), 

if condition == 1 then Color.GREEN else

if condition == 0 then Color.PLUM else

Color.PLUM);


Plum colored label at top.

Ok ya'll have at it with labels. Do not get hurt playing.
 
markos

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@horserider How did the RSILg work today? Would you mind sharing the whole chart with all the studies?
At least the Jaime Pinto Study at the bottom.
Greatly appreciate it. Thanks for all you're doin'!(y)
 
markos

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WOW what a wealth of knowledge in there! They even have the code for the indicators. I'm gonna go down so many rabbit holes thanks to you LOL. You have a good weekend as well.
@Shinthus please read my new Rules for Bollinger Bands in the Tutorials.
How's your search coming in the Universe of Thinkscript goldmine?
 
Shinthus

Shinthus

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@Shinthus please read my new Rules for Bollinger Bands in the Tutorials.
How's your search coming in the Universe of Thinkscript goldmine?
It's making me lose sleep lol. I gotta ration my time better. I've found so many nice things in there.
 
markos

markos

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@Shinthus Go slow with the new introductions, if you please. Don't stop, just pace yo' self. 🧐
There are so many things I want to put out there, but, they end up getting drowned out and end up on page 6.

That's what happened with the TMO. Ben put it out there in January, where it drowned until I re-introduced it with the multi-agg stuff. 🙂
Sadly, nobody looks at "page 6" as you've probably noticed.
 
markos

markos

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On the other hand, there's lots of cool stuff on .02 Education
 
markos

markos

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@Shinthus this is the thread where Ehler's COG with ADX label should go, if you choose to create it.
 

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