Archives: RSM Indicator for ThinkorSwim

[ApeX Predator]

Sorry for the basic question. I can't get the script for RSM MTF Labels to display at the top. The labels do not look like the 1st post where all the time frames are displayed at the top. The only thing I see is one label "D". When I go into the settings, I can only choose one time frame, instead of having all of them displayed. I've reset TOS to the default. Thank you for all the wonderful work here!

The Indicator need to be added to your setup multiple times each one set to a different timeframe like @RickAns suggested, and only the labels from the current chart timeframe and above will display.

EX: if you configured every available timeframe and looking at 30m chart only labels from 30m,1H,2H and above will display. In 1m charts all the configured labels will display.

 

[tron]

I'm curious for swing trading if folks are adjusting the ADR and associated profit levels/stop loss when occupying a position for multiple days or does the initial ADR and associated profit levels/stop loss get locked in until exiting the position.

 

[RickAns]

That is why I am trying to find a good way to adapt a trailing stop of some kind to this also. For stocks that have climbed above the original ADR profit targets and continues to run while the trend is still green and strong. Like SPCE for example, $25+ above the last ADR mark and still moving it seems.

 

[thinkscriptnewb]

The Indicator need to be added to your setup multiple times each one set to a different timeframe like @RickAns suggested, and only the labels from the current chart timeframe and above will display.

EX: if you configured every available timeframe and looking at 30m chart only labels from 30m,1H,2H and above will display. In 1m charts all the configured labels will display.

Thank you! I was adding to the day chart and not getting the other labels. If the thinkscript masters think it's possible and worthy, I have a feature request. I am also happy to give it a try if you have some tips for the coding to start it off.

Feature Request for labels:
1. In setup, have yes/no boxes to select the time frame you want displayed (instead of add it multiple times)
2. Be able to show time frames below the current one (i.e. show the min time frame label on the day chart)

 

[alienkiller]

Hi @cos251 ,

I just realized something while coding up a Trailing Stop label and price chart marker for my personal use - not really expecting it to be implemented here. Read back through the PowerX book to verify this because I felt something seemed off. Something got overlooked.

We have been using the Close price of the first green candle as the keystone for calculations of the Trend Start price, Entry Price, Target Points and Stop Loss. The book says that when going Long to Enter on the next candle that is .01c above the High of the first green candle that started the trend. It also uses that Entry point for the ATR / ADR Stop Loss and Target points. The inverse being true when going Short, enter at .01c below the Low of first green candle. We should be using the High (or Low) of that green candle as a keystone instead of the Close.

Depending on how tall the first green trend candle is and where the close lands in relation to the high (or low). It does alter where the Targets and Stop Loss points lie. I know these points are not laid in stone as hard, fast rules. Not sure how close you want your calculations to be to the original idea that spawned this creation. Just thought I would mention this. Am rethinking how I did some of my coding to adapt.

Cheers,
Rick

I have noticed this too. Can this be changed to +/- 1 tick from high/low for entry instead of close? I think it will cut out a lot of false entries...

 

[ApeX Predator]

Thank you! I was adding to the day chart and not getting the other labels. If the thinkscript masters think it's possible and worthy, I have a feature request. I am also happy to give it a try if you have some tips for the coding to start it off.

Feature Request for labels:
1. In setup, have yes/no boxes to select the time frame you want displayed (instead of add it multiple times)
2. Be able to show time frames below the current one (i.e. show the min time frame label on the day chart)

Answers below for your ask,

1. In setup, have yes/no boxes to select the time frame you want displayed (instead of add it multiple times)

1) It is possible, but you would have to repeat code and variables, for each timeframe. any change to the logic has to coded for each of the time frames, that is 16 -18 timeframes and easy to make a mistake and blow up the results.
We had a version and figured this is better both from a coding point of view and performance. As simple as, you don't use a timeframe you don't configure it and not have to overload your system.

2. Be able to show time frames below the current one (i.e. show the min time frame label on the day chart)

2) Not possible, TOS script can't access data from a lower timeframe. That said the version mentioned for point 1 might show for some timeframes, I have found that to be unreliable.

-S

 

[patelhe]

How do I show the ADR, like the RSI, sK, Macd displays on the labels

 

[ApeX Predator]

How do I show the ADR, like the RSI, sK, Macd displays on the labels

RSM_UPPER Indicator has properties you need to set to "Yes".

Show Trend Labels
Show ADR Labels
Show Indicator Labels

 

[RickAns]

Just noticed he uses SlowD instead of SlowK on the Stochastics. About the 4:30 mark.

 

[ApeX Predator]

Just noticed he uses SlowD instead of SlowK on the Stochastics. About the 4:30 mark.

I have seen that earlier, but higher timeframes though there isn't much difference K or D on most tickers. I do have to test this out on some of the non volatile tickers to see if there is any advantage of D or K.

-Surya

 

[dominos101]

@SuryaKiranC Hi, how did you get the profit target and stop loss labels to appear?

The Profit target X and stoploss X ones.

 

[ApeX Predator]

@dominos101 that was @RickAns code, I had in previous (Dev/Test Version), check with him, he should be able to help out integrating that code here.

 

[dominos101]

@RickAns Hi, do you have the profit target x and stoploss x labels?

 

[RickAns]

I did notice a difference in a few (but not all) situations @SuryaKiranC between the SlowK(14) and SlowD(3). I should have taken screencaps but was busy with something else at the time. The exits seemed the same for both but occasionally the SlowD entered a position a few bars later than the SlowK. Which is opposite of what I would have thought would happen. An instance that sticks out in my mind is SlowK got in just before a small dip of a few bars and SlowD got in just after the dip. I want to go back and examine it more to see if I can recreate that. I have modified some coding since then. Will keep you updated if you are interested.

Thanks for asking @dominos101. My original stop marker labels display differently depending on if using ATR or ADR for the calculations. How are you mostly using this.... daily or intraday? I have a few ideas I am working on to see what works best. Will let you know.

 

[Fluideng]

What indicators time frames or strategies do you all like to add to this strategy to increase the winning Percentage?
I like longs only when price is above the 200 EMA and not pulled to far away from 20 EMA.

 

[Hosseinfr]

Hello
I have a question the lower RSM just shows the RSI and doesn't show the MACD and Stochastic. can you help me with that

thank you

 

[ApeX Predator]

Hello
I have a question the lower RSM just shows the RSI and doesn't show the MACD and Stochastic. can you help me with that

thank you

You need to add 3 instances of the same indicator, each one set to RSI, Stoch & MACD.

 

[dominos101]

You need to add 3 instances of the same indicator, each one set to RSI, Stoch & MACD.

Is it possible to get a label for the entry price?

 

[ApeX Predator]

Is it possible to get a label for the entry price?

Please look at the screenshot in the original post, there is a label that shows the price where the Trend Started (for both up and down). you may have to enabled those labels in properties. Please spend sometime with Indicator properties, enabled/disable each options and personalize the look and feel of the setup to your liking.

 

[dominos101]

Please look at the screenshot in the original post, there is a label that shows the price where the Trend Started (for both up and down). you may have to enabled those labels in properties. Please spend sometime with Indicator properties, enabled/disable each options and personalize the look and feel of the setup to your liking.

Ok thanks I saw its called open instead of entry.