Anyone tried coding A Technical Method For Rating Stocks?

mc01439

Well-known member
2019 Donor
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I have been using this rating system as part of a longer term trading strategy on WealthLab.

Would like to use on TOS as well but TDAmeritrade did not summit the code for this Technical Analysis of Stocks & Commodities June 2018 article. Anyone like to take a shot at the code.

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MerryDay

Well-known member
VIP
Technical Stock Rating Labels

This TOS indicator provides labels that are colored blue and only appear when bullish conditions exist
(the blue labels on chart are the default)

GepxtdL.png


With this modified version of the indicator, the labels always appear: green colored for Bullish and Red for Bear.

Also added an additional label "score" which is defined in the TOS Technical Stock Rating Strategy.

Here is the study link: http://tos.mx/N2Wufe3
 
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MerryDay

Well-known member
VIP
@Ronathan Edwards
Computer Gremlins!

Code:
# TOS TechnicalStockRating

input vfiLength = 130;
input averageLength = 100;
input trendQualityLength = 63;
input maxStiffness = 7;
input marketIndex = "SPY";
input weightForMoneyFlow = 1.0;
input weightForTradingAboveAverage = 1.0;
input weightForUptrend = 1.0;
input weightForTrendQuality = 1.0;
input weightForMarketDirection = 2.0;

def vfi = reference VolumeFlowIndicator(length = vfiLength, "max volume cut off" = 2.5);
def sma = Average(close, averageLength);
def ema = ExpAverage(close(marketIndex), averageLength);
def stiffness = Sum(close < sma, trendQualityLength);

def Score;
def MoneyFlow = vfi > 0;
def TradingAboveAverage = close > sma;
def Uptrend = sma > sma[4];
def TrendQuality = stiffness <= maxStiffness;
def MarketDirection = ema >= ema[2];

Score = weightForMoneyFlow * MoneyFlow + weightForTradingAboveAverage * TradingAboveAverage + weightForUptrend * Uptrend + weightForTrendQuality * TrendQuality + weightForMarketDirection * MarketDirection;

DefineGlobalColor("Pre_Cyan", CreateColor(50, 200, 255)) ;
DefineGlobalColor("LabelGreen",  CreateColor(0, 165, 0)) ;
DefineGlobalColor("LabelRed",  CreateColor(225, 0, 0)) ;
AddLabel(yes, "Score=" +score,
         if Score> 5 then GlobalColor("Pre_Cyan") else
         if Score==5 then GlobalColor("LabelGreen") else GlobalColor("LabelRed"));
AddLabel(yes, "Money flow",
         if MoneyFlow then GlobalColor("LabelGreen") else GlobalColor("LabelRed"));
AddLabel(yes, "Trading above average",
         if TradingAboveAverage then GlobalColor("LabelGreen") else GlobalColor("LabelRed") );
AddLabel(yes, "Uptrend",
         if Uptrend then GlobalColor("LabelGreen") else GlobalColor("LabelRed"));
AddLabel(yes, "Trend quality",
         if TrendQuality then GlobalColor("LabelGreen") else GlobalColor("LabelRed"));
AddLabel(yes, "Market direction",
         if MarketDirection then GlobalColor("LabelGreen") else GlobalColor("LabelRed"));
HTH
 
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MerryDay

Well-known member
VIP
@Ronathan Edwards

As per the TOS Technical Stock Rating Strategy:
"The stock symbol receives one point for meeting each of the above criteria if all the weights are set to 1.0. By default, only the "overall market direction" weight is equal to 2.0; however, you are free to assign the weights according to your preferences.
By default, the strategy adds a simulated buy to open order if the currently selected stock receives a rating score of 5.0 or higher"


A 6 is a perfect rating. A 5 is a strong indicator
 
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Gametheory

New member
VIP
Technical Stock Rating Labels

This TOS indicator provides labels that are colored blue and only appear when bullish conditions exist
(the blue labels on chart are the default)

GepxtdL.png


With this modified version of the indicator, the labels always appear: green colored for Bullish and Red for Bear.

Also added an additional label "score" which is defined in the TOS Technical Stock Rating Strategy.

Here is the study link: http://tos.mx/N2Wufe3
Merryday, I wanted to say thank you for these labels. I like my screen cleaned and it really helps out. I'm wondering, do you happen to know how to add IV rank and ATR as labels? Kindly guide me to add these two indicators. I really appreciate your insight.
 

Docbrown83

New member
The code is measure of extreme momentum,.......I am sharing two pieces of information for you and the thinkscript community. If you are a person who hasn't or won't commit to pursue a life of success,....disregard. If you are a bootlicker who follows and enjoys depending on others, disregard. If,.... you.....truly enjoy trading, something that can change your life forever for the better,..... look here, the answer to your question is https://stockbee.biz/blog/ and listen here,... https://chatwithtraders.com/ep-212-kristjan-kullamagi/
I have been in Stockbee from 2011, I'm a success in one career already and now this is my second. These two people can change
your life....

I’ve been reading a lot of posts from Stockbee and am hooked. He has a lot of scans for their trading software, but I’m having a hard time seeing a TOS alternative.

Do you have other Stockbee scans that he uses but that are specifically for Thinkorswim?

Please and thank you!!🙏
 

Thomas

Active member
VIP
I’ve been reading a lot of posts from Stockbee and am hooked. He has a lot of scans for their trading software, but I’m having a hard time seeing a TOS alternative.

Do you have other Stockbee scans that he uses but that are specifically for Thinkorswim?

Please and thank you!!🙏
This guy, Stockbee and QuallMaggie are only two who are teaching freely. Stockbee, in particular, began to teach his success and he's gotten to know many super traders. Quallmaggie was a stockbee member for a couple years before learning his own techniques and MHK, from JackSwagger's recent book. Stockbee has live discussions daily, $100,000.oo a day traders group, scans for tc2000 and TOS. tc2000 is your planning, with scans, etc and execute through TOS. Most trades use both, or some are trying to adapt tradersview. If you are serious, have the discipline to be free of a bootlicker's life,..... begin your journey.
 
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