Archives: RSM Indicator for ThinkorSwim

[waltj]

Thank you so much for posting this. How do I "use" it? Do I need to copy/paste the code into a scan? I don't know how to create a watchlist from this...I have never done that in TOS. I've only manually built watchlists

https://tos.mx/2LZ667k

 

[Heaven's Calamity]

Reading through the thread I'm not seeing this question answered. I have the watchlist column setup, but it appears to be giving uptrend/downtrend signals based on 1m charts. I mainly trade on the 5m intraday, any way to get it to show 5m trends?

Apologies if I missed the answer to this in the thread previously.

 

[RickAns]

You can adjust the time frame if you go into the custom / thinkscript editor window of the watchlist. Right next to the script name is the button to set time period.

 

[Heaven's Calamity]

You can adjust the time frame if you go into the custom / thinkscript editor window of the watchlist. Right next to the script name is the button to set time period.

Thanks Rick. Fixed instantly. Much appreciated.

 

[rad14733]

Thanks Rick. Fixed instantly. Much appreciated.

Although it is fixed, please be aware the there is a lag in updating of Custom Watchlist Columns due to the fact that they only update every 3 - 7 minutes, not continuously like Standard Watchlist Columns...

 

[cos251]

All, please see FIRST POST for an update to this indicator. Thx.

 

[RickAns]

Nice, cos251. Glad to see you are still working on this.

For what it's worth on the off chance you may be interested. Recently been comparing the MA's from the ToS version here with the free Tradeview version. Seems RSI = Wilders, Stoch = Simple, MACD = Exponential give near the same values along with SlowD. In comparing daily charts the entry exit signals can change by a few days at times.

 

[Csharp]

What is the most efficient way to scan for this?
I see TOS has ADX built in as a study but im getting mixed results. Im trying to find an uptrend thats been ADX Uptrend for the past 3 bars

Added ADX triangle plot to stoploss in either direction. Indicates if ADX is greater than previous ADX[1] and denotes if ADR has crossed above ADXR for trend confirmation/strength

1. ADX Uptrend - White = ADX > ADX[1], RED = ADX crossed above ADXR, CYAN = ADX > 35
2. ADX DownTrend - Purple = ADX > ADX[1], GREEN = ADX crossed above ADXR, YELLOW = ADX > 35
3. Added ability to show ADX triangles without plotting ADR Targets and Shading

 

[cos251]

What is the most efficient way to scan for this?
I see TOS has ADX built in as a study but im getting mixed results. Im trying to find an uptrend thats been ADX Uptrend for the past 3 bars

Added ADX triangle plot to stoploss in either direction. Indicates if ADX is greater than previous ADX[1] and denotes if ADR has crossed above ADXR for trend confirmation/strength

1. ADX Uptrend - White = ADX > ADX[1], RED = ADX crossed above ADXR, CYAN = ADX > 35
2. ADX DownTrend - Purple = ADX > ADX[1], GREEN = ADX crossed above ADXR, YELLOW = ADX > 35
3. Added ability to show ADX triangles without plotting ADR Targets and Shading

If it is just ADX you are looking for I'd use the built in study. It will be more efficient.
ADX > ADX[1] and ADX[1] > ADX[2] and ADX[2] > ADX[3] - something like this.

 

[dominos101]

Does the shade work on weekly chart?

 

[cos251]

Does the shade work on weekly chart?

It appears to work.

 

[dominos101]

It appears to work.

Do you know how to display the arrows? I saw that that it appears on the daily chart, but not on the weekly chart.

 

[cos251]

Do you know how to display the arrows? I saw that that it appears on the daily chart, but not on the weekly chart.

Looks like some of the logic is not allowing to plot the targets and arrows on the weekly. I'll work on fixing that.

 

[dominos101]

Looks like some of the logic is not allowing to plot the targets and arrows on the weekly. I'll work on fixing that.

ok thanks

 

[minijoo]

Hello, everyone. I came across Markus a few days ago and read through the old and new threads which were very interesting. I thank those who worked hard to bring this up. I am looking forward to give this a try in a couple of months when I move to the US and open up a ToS account (Interactive Brokers is crappy when it comes to scripting in my opinion).

I have one question for @barbaros. In the old thread, https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/post-49823, you mentioned that you were looking to implement a performance based scanner. I was wondering if you have shared this anywhere in any of the two threads? I haven't been able to locate it myself, so a link to it will be appreciated.

 

[barbaros]

Hello, everyone. I came across Markus a few days ago and read through the old and new threads which were very interesting. I thank those who worked hard to bring this up. I am looking forward to give this a try in a couple of months when I move to the US and open up a ToS account (Interactive Brokers is crappy when it comes to scripting in my opinion).

I have one question for @barbaros. In the old thread, https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/post-49823, you mentioned that you were looking to implement a performance based scanner. I was wondering if you have shared this anywhere in any of the two threads? I haven't been able to locate it myself, so a link to it will be appreciated.

I have this implemented but outside of ToS. I'm trying to test it here (https://discord.gg/Eb8tYkEF).

 

[minijoo]

I have this implemented but outside of ToS. I'm trying to test it here (https://discord.gg/Eb8tYkEF).

Thank you! I'll give it a read later today. If you don't mind, which chat room do I have to read for it? I don't think bb-strategy-scanner is it.

Also, I would like to help out when I can. I have a bit of coding background, so this will be an interesting personal project.

 

[barbaros]

Thank you! I'll give it a read later today. If you don't mind, which chat room do I have to read for it? I don't think bb-strategy-scanner is it.

Also, I would like to help out when I can. I have a bit of coding background, so this will be an interesting personal project.

It's the kayra-signals

 

[Csharp]

im receiving errors when attempting this. Is there a way to scan for when a RSM breakout occurs and the current value has passed the first or second targets ?

 

[cos251]

im receiving errors when attempting this. Is there a way to scan for when a RSM breakout occurs and the current value has passed the first or second targets ?

Hi @Csharp - I am working on incorporating the Target Levels into the RSM_SCAN code. I have it working but need to verify that it is scanning and reporting correctly. I'll monitor it on Monday and let you know.

For now, be sure to use the RSM SCAN code for scanning.