Archives: RSM Indicator for ThinkorSwim

[ApeX Predator]

is there a way to scan for No Trend?

Just Try UpTrend and DownTrend is false. I will try and workout a query for you later in the day. But curious what are you trying to play at? there is always the script for the Watch List you asked for with barcount.

 

[Csharp]

Just Try UpTrend and DownTrend is false. I will try and workout a query for you later in the day. But curious what are you trying to play at? there is always the script for the Watch List you asked for with barcount.

the false one didnt work for some odd reason. i did a basic 5 min downtrend false search. 0 results
im messing with a bunch of search variables to try and pin point when the huge spikes happen for day trading.

 

[ApeX Predator]

the false one didnt work for some odd reason. i did a basic 5 min downtrend false search. 0 results
im messing with a bunch of search variables to try and pin point when the huge spikes happen for day trading.

If you are looking for massive spike, you should be looking at rVOL or Volume in general with 2 or 3x of standard deviation. There are few threads here on that. Do a quick search.

 

[dominos101]

Not sure what you trying to achieve with that query, but the syntax should be

RSM_Scan()."DownTrend" is false within 1 bars

Hello, have you had the chance to take a look at the weekly time period?

 

[tome10]

I have the scanner code working, but I can't seem to scan for the Stochastics signals alone. How do I set up a scan for the stochastics using the lower study, as I apparently can't figure it out.

 

[Tbean]

Hello,

I have question for RSM Watchlist Code. What time frame does it use? I did not any option to set time frames. I want to add it to my eatchlist 4 times (15min, 5min, 3min and 1min) frames.

Regards.

 

[Csharp]

is it possible to create a 'notrend' so i can search that?
seems the false search criteria doesnt work

 

[rad14733]

is it possible to create a 'notrend' so i can search that?
seems the false search criteria doesnt work

Are you referring to "Neutral", which would be multiple prices identically the same rather than increasing or decreasing...??? It seems that this would be an extreme rarity...

 

[Csharp]

Are you referring to "Neutral", which would be multiple prices identically the same rather than increasing or decreasing...??? It seems that this would be an extreme rarity...

I’m trying to search the 2nd bar after the uptrend starts
Everything I try doesn’t seem to work correctly

 

[Csharp]

Trying to search the black candle

 

[rad14733]

Trying to search the black candle

Well, realistically, there is no such thing as a "black candle", just a condition that causes on to be painted black... What you are searching for is a "reversal"... Something like: close > close[1] and close[2] > close[1], which is also considered a Fractal Pattern... I wrote a Study some time ago that looked for a five candle fractal reversal using: close > close[1] and close[1] > close[2] and close[3] > close[2] and close[4] > close[3]...

 

[stormy77]

After quite a bit of collaboration from several members - we wanted to provide a central reference point for this indicator. The original request for this write up came from @Joseph Patrick 18 to replicate a well known strategy known as Power X. For the purposes of this indicator, it is being referred to as RSM (RSI, Stochastic,MACD) Indicator.

I'd like to thank the following members for their contributions: @Joseph Patrick 18 , @SuryaKiranC, @RickAns, @TradeUp (and many others, sorry if I forgot you)

Basic requirements for this indicator:

1. Use RSI, Stochastic and MACD standard indicators (with minor settings tweak) to identify trends
2. RSI - Set to 7, EXPONENTIAL MOVING AVERAGE
3. Stochastic Slow- Set to 14 and 3, WILDERS AVERAGE
4. MACD - Set to 12,26,9 - WEIGHTED AVERAGE
5. Paint Candles accordintly - (GREEN/UP, RED/DOWN)

Trend Identification


Reference material for strategy: https://rockwell-files.s3.amazonaws.com/PXCompanionGuide2ndEd_cover.pdf

Indicators Available (See below for code). The following scripts are provided for this indicator:

1. RSM Upper - works on any TF and TICK Charts
   1. Color candles, Plots Arrows and displays informational labels
   2. Most settings can be turned off if desired
2. RSM Lower
   1. 3 Indicators in 1 - can be added to chart seperatly and choose indicator desired
   2. Can plot RSI, Stochastic, RSI & Stochastic, or MACD Only as lower study with shading and candle painting
3. RSM MTF
   1. Adds Labels for ALL TF's to show current status of RSM Signal
4. RSM SCAN - Use to scan for the following:
   1. Stocks currently in UpTrend
   2. Stocks just starting UpTrend
   3. Stocks currently in DownTrend
   4. Stocks just starting DownTrend

* - Quick personal note - thanks so much for letting me work on this project and for you patience. I had a chance to learn quite a bit and hopefully improve my trading in the process. Great community here!!!!!!!!!!!

Disclaimer
This indicator may or may not be suitable for you. Constructive criticism welcomed in order to improve. Please report any bugs so we can continue to improve it.

RSM Upper

Features

1. Paint Bars (Green, Red, Gray)
2. Shade chart area per trend
3. Select between trade type (Long,Short,Both)
4. Dynamic calculation of ADR/ATR at moment of trend start
5. Select between ADR/ATR for target and stop loss calculations
6. Plot ADR/ATR target lines while trend is active (on/off)
   1. Plot 3 targets up/down by default
7. Plot additional targets (4-6) if desired (on/off)
8. Shade the ADR/ATR zones (on/off)
9. Stop loss multiplier selection
10. Show Labels for first 3 targets
11. Show Labels for Trend info

#START OF RSI/Stochastic/MACD Confluence Strategy for ThinkOrSwim
#RSM_STANDARD_UPPER
#
#CHANGELOG
#
# 2021.01.15 V1.6 @SuryaKirnaC
#                         - Modifed ADR Zonse shading colors
#                         - Adjusted Indicator and target labels for space
#                         - Made audible alerts user configurable via settings
#
# 2021.01.04 V1.5 @cos251 - Fixed long, short ADR Zone plots to match TradeType selection (Long, Short, BOTH) - will only plot as selected
#
# 2020.12.21 V1.4 @cos251 - Added input "plotADR"
#                            - plots dynamic ATR/ADR targets- default plots 3 targets - can be turned off by setting "plotADR" to no
#                         - Added input "showExtraTargets"
#                            -  - plots dynamic ATR/ADR targets- for targets 4, 5, and 6
#                         - Added input "showADRZones"
#                            - Dynamic shading of ATR/ADR targets - can be turned off in settings using "showADRZones"
#                         - Added dynamic calculation of both ATR and ADR. User can select between ATR and ADR in settings
#                         - Added input "showADRLabels"
#                            - Added Dynamic Target labels for UpTrend or DownTrend; they will be green or red depending on Up or Down trend
#                         - Added input "showTodayOnly"
#                            - Added option to display shaded ADR/ATR zones for today only "showTodayOnly"
#                            - if set to no - ADR/ATR plots will be plotted for all available data on chart
#                         - Added ability to plot ATR or ADR on DAY chart - MUST TURN OFF "showTodayOnly"
#                         - Added Labels that can be used for "debug" - MUST change "debug" setting to yes
#                         - Added Trend information labels that can be turned on/off
#                  
#
# 2020.11.30 V1.3 @cos251 - Stripped down TICK Version; No ADR since time based aggregation period do not work on TICK #                           Charts
#
# 2020.11.30 V1.2 @cos251 - Add ADR plots and shading per request; will tweak these settings to improve overall
#                           options
# 2020.11.12 V1.1 @cos251 - Changed from strategy to standard study. Added Green Arrow UP
#                           and Red Arrow down when trend starts.  Added option to change to high
#                           timeframe but this WILL repaint; if used, should be used with other
#                           indicators to confirm an entry/exit.
#
# 2020.10.27 V1.0 @cos251 - Added RSI, StochasticSlow and MACD to same indicator
#                         - also calculates MACD;
#                         - Will shade the lower plot area of the following conditions are met
#                           Shade GREEN = RSI > 50 and SlowK > 50 and (macd)Value > (macd)Avg
#                           Shade RED = RSI < 50 and SlowK < 50 and (macd)Value < (macd)Avg
#
#          
#REQUIREMENTS - RSI Set to 7, EXPONENTIAL
#               Stoch Slow 14 and 3 WILDERS
#               MACD 12,26,9 WEIGHTED

declare upper;
################################################################
##########                 Variables                   #########
################################################################

input paintBars = yes;
input showRSMShade = no;
input tradetype = { "long", "short", default "both" };
input rangeType = { default "ADR", "ATR" };
input stopLossMultiplier = 1.0;
input plotADR = yes;
input showADRZones = yes;
input showTodayOnly = yes;
input showTrendLabels = no;
input showADRLabels = no;
input showExtraTargets = no;
input showIndicatorLabels = no;
input audibleAlerts = yes;
input debug = no; # change to "NO" after testing

################################################################
##########              ATR/ADR Calc                   #########
################################################################
input ATRlength = 14;
input ATRaverageType = AverageType.WILDERS;
def Range;
if rangeType == rangeType.ATR {
    Range = MovingAverage(ATRaverageType, TrueRange(high, close, low), ATRlength);
} else {
    Range = Average(high - low, 7);
}

################################################################
##########         Booleans Set for Plot Use           #########
################################################################
def afterStart = GetTime() > RegularTradingStart(GetYYYYMMDD());
def beforeEnd = GetTime() < RegularTradingEnd(GetYYYYMMDD());
def today = if GetLastDay() == GetDay() then 1 else Double.NaN;
def dailyO = if today and afterStart and beforeEnd then DailyOpen() else Double.NaN;
plot openPrice = if dailyO then DailyOpen() else Double.NaN;
AddLabel(if debug then yes else no,"Day = :"+today);
AddLabel(if debug then yes else no,"Day = :"+GetDay());

################################################################
##########                 RSI                         #########
################################################################
input lengthRSI = 7;
input price = close;
input averageTypeRSI = AverageType.EXPONENTIAL;
def NetChgAvg = MovingAverage(averageTypeRSI, close - close[1], lengthRSI);
def TotChgAvg = MovingAverage(averageTypeRSI, AbsValue(close - close[1]), lengthRSI);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
def RSI = 50 * (ChgRatio + 1);

################################################################
##########                 Stochastic Slow             #########
################################################################
input over_boughtSt = 80;
input over_soldSt = 20;
input KPeriod = 14;
input DPeriod = 3;
input averageTypeStoch = AverageType.WILDERS;
def SlowK = reference StochasticFull(over_boughtSt, over_soldSt, KPeriod, DPeriod, high, low, close, 3, averageTypeStoch).FullK;
def SlowD = reference StochasticFull(over_boughtSt, over_soldSt, KPeriod, DPeriod, high, low, close, 3, averageTypeStoch).FullD;

################################################################
##########                  MACD                       #########
################################################################
input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;
input averageTypeMACD = AverageType.WEIGHTED;
def Value = MovingAverage(averageTypeMACD, close, fastLength) - MovingAverage(averageTypeMACD, close, slowLength);
def Avg = MovingAverage(averageTypeMACD, Value, MACDLength);
def Diff = Value - Avg;

################################################################
##########         Assign Price Color                  #########
################################################################
AssignPriceColor(if paintBars and RSI >= 50 and SlowK >= 50 and Value > Avg then Color.GREEN else if paintBars and RSI < 50 and SlowK < 50 and Value < Avg then Color.RED else if paintBars then Color.DARK_GRAY else Color.CURRENT);

#################################################################
#####   Up/Down Trend Check/SCAN Variables              #########
#################################################################
plot UpTrend = if RSI >= 50 and SlowK >= 50 and Value > Avg then 1 else 0;
plot DownTrend = if RSI < 50 and SlowK < 50 and Value < Avg then 1 else 0;
UpTrend.Hide();
DownTrend.Hide();
plot upArrow = if UpTrend == 1 and UpTrend[1] == 0 and (tradetype == tradetype.long or tradetype == tradetype.both) then low else Double.NaN;
upArrow.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
upArrow.SetDefaultColor(Color.GREEN);
upArrow.SetLineWeight(4);
plot downArrow = if DownTrend == 1 and DownTrend[1] == 0 and (tradetype == tradetype.short or tradetype == tradetype.both) then high else Double.NaN;
downArrow.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
downArrow.SetDefaultColor(Color.RED);
downArrow.SetLineWeight(4);

def bnumUp;
def bnumDown;
def closeUpTrendStart;
def closeDownTrendStart;
def UpTrendBarCount;
def DownTrendBarCount;
if UpTrend and (!UpTrend[1] or DownTrend[1]) {
    bnumUp = BarNumber();
    bnumDown = 0;
    closeUpTrendStart = close;
    closeDownTrendStart = 0;
    UpTrendBarCount = 1;
    DownTrendBarCount = 0;
} else if UpTrend {
    bnumUp = bnumUp[1];
    bnumDown = 0;
    closeUpTrendStart = closeUpTrendStart[1];
    closeDownTrendStart = 0;
    UpTrendBarCount = UpTrendBarCount[1] + 1;
    DownTrendBarCount = 0;
} else if DownTrend and (!DownTrend[1] or UpTrend[1]) {
    bnumUp = 0;
    bnumDown = BarNumber();
    closeDownTrendStart = close;
    closeUpTrendStart = 0;
    UpTrendBarCount = 0;
    DownTrendBarCount = 1;
} else if DownTrend {
    bnumDown = bnumDown[1];
    closeDownTrendStart = closeDownTrendStart[1];
    DownTrendBarCount = DownTrendBarCount[1] + 1;
    bnumUp = 0;
    closeUpTrendStart = 0;
    UpTrendBarCount = 0;
} else {
    bnumUp = 0;
    bnumDown = 0;
    closeUpTrendStart = 0;
    closeDownTrendStart = 0;
    UpTrendBarCount = 0;
    DownTrendBarCount = 0;
}
def c;
if BarNumber() == bnumUp or BarNumber() == bnumDown {
    c = Range;
} else if UpTrend or DownTrend {
    c = c[1];
} else {
    c = 0;
}
AddLabel(if debug then yes else no, "Current Bar:" + BarNumber());
AddLabel(if debug then yes else no, "C:" + c);
AddLabel( if debug then yes else no, "PlotADR: "+plotADR);
AddLabel( if debug then yes else no, "TodayOnly: "+showTodayOnly);


#################################################################
############        ADR/ATR Targets Shading              #########
#################################################################
# - UpTrend Targets and StopLoss
plot UpTrendStopLoss = if (tradetype == tradetype.both or tradetype == tradetype.long) and UpTrend and plotADR and !showTodayOnly then closeUpTrendStart - (c * stopLossMultiplier) else if (tradetype == tradetype.both or tradetype == tradetype.long) and UpTrend and plotADR and showTodayOnly  and today and afterStart and beforeEnd then closeUpTrendStart - c else Double.NaN;
plot oneADRPlus = if (tradetype == tradetype.both or tradetype == tradetype.long) and UpTrend and plotADR and !showTodayOnly then closeUpTrendStart + (c * 1) else if (tradetype == tradetype.both or tradetype == tradetype.long) and UpTrend and plotADR and showTodayOnly  and today and afterStart and beforeEnd then closeUpTrendStart + c else Double.NaN;
plot twoADRPlus = if (tradetype == tradetype.both or tradetype == tradetype.long) and UpTrend and plotADR and !showTodayOnly then closeUpTrendStart + (c * 2) else if (tradetype == tradetype.both or tradetype == tradetype.long) and UpTrend and plotADR and showTodayOnly  and today and afterStart and beforeEnd then closeUpTrendStart + (c * 2) else Double.NaN;
plot threeADRPlus = if (tradetype == tradetype.both or tradetype == tradetype.long) and UpTrend and plotADR and !showTodayOnly then closeUpTrendStart + (c * 3) else if (tradetype == tradetype.both or tradetype == tradetype.long) and UpTrend and plotADR and showTodayOnly  and today and afterStart and beforeEnd then closeUpTrendStart + (c * 3) else Double.NaN;
plot fourADRPlus = if (tradetype == tradetype.both or tradetype == tradetype.long) and UpTrend and plotADR and !showTodayOnly and showExtraTargets then closeUpTrendStart + (c * 4) else if (tradetype == tradetype.both or tradetype == tradetype.long) and UpTrend and plotADR and showTodayOnly  and today and afterStart and beforeEnd and showExtraTargets then closeUpTrendStart + (c * 4) else Double.NaN;
plot fiveADRPlus = if (tradetype == tradetype.both or tradetype == tradetype.long) and UpTrend and plotADR and !showTodayOnly and showExtraTargets then closeUpTrendStart + (c * 5) else if (tradetype == tradetype.both or tradetype == tradetype.long) and UpTrend and plotADR and showTodayOnly  and today and afterStart and beforeEnd and showExtraTargets then closeUpTrendStart + (c * 5) else Double.NaN;
plot sixADRPlus = if (tradetype == tradetype.both or tradetype == tradetype.long) and UpTrend and plotADR and !showTodayOnly and showExtraTargets then closeUpTrendStart + (c * 6) else if (tradetype == tradetype.both or tradetype == tradetype.long) and UpTrend and plotADR and showTodayOnly  and today and afterStart and beforeEnd and showExtraTargets then closeUpTrendStart + (c * 6) else Double.NaN;
# - DownTrend Targets and StopLoss
plot DownTrendStopLoss = if (tradetype == tradetype.both or tradetype == tradetype.short) and DownTrend and plotADR and !showTodayOnly then closeDownTrendStart + (c * stopLossMultiplier) else if (tradetype == tradetype.both or tradetype == tradetype.short) and DownTrend and plotADR and showTodayOnly  and today and afterStart and beforeEnd then closeDownTrendStart + c else Double.NaN;
plot oneADRMinus = if (tradetype == tradetype.both or tradetype == tradetype.short) and DownTrend and plotADR and !showTodayOnly then closeDownTrendStart - c else if (tradetype == tradetype.both or tradetype == tradetype.short) and DownTrend and plotADR and showTodayOnly  and today and afterStart and beforeEnd then closeDownTrendStart - c else Double.NaN;
plot twoADRMinus = if (tradetype == tradetype.both or tradetype == tradetype.short) and DownTrend and plotADR and !showTodayOnly then closeDownTrendStart - (c * 2) else if (tradetype == tradetype.both or tradetype == tradetype.short) and DownTrend and plotADR and showTodayOnly  and today and afterStart and beforeEnd then closeDownTrendStart - (c * 2) else Double.NaN;
plot threeADRMinus = if (tradetype == tradetype.both or tradetype == tradetype.short) and DownTrend and plotADR and !showTodayOnly then closeDownTrendStart - (c * 3) else if (tradetype == tradetype.both or tradetype == tradetype.short) and DownTrend and plotADR and showTodayOnly  and today and afterStart and beforeEnd then closeDownTrendStart - (c * 3) else Double.NaN;
plot fourADRMinus = if (tradetype == tradetype.both or tradetype == tradetype.short) and DownTrend and plotADR and !showTodayOnly and showExtraTargets then closeDownTrendStart - (c * 4) else if (tradetype == tradetype.both or tradetype == tradetype.short) and DownTrend and plotADR and showTodayOnly  and today and afterStart and beforeEnd  and showExtraTargets then closeDownTrendStart - (c * 4) else Double.NaN;
plot fiveADRMinus = if (tradetype == tradetype.both or tradetype == tradetype.short) and DownTrend and plotADR and !showTodayOnly and showExtraTargets then closeDownTrendStart - (c * 5) else if (tradetype == tradetype.both or tradetype == tradetype.short) and DownTrend and plotADR and showTodayOnly  and today and afterStart and beforeEnd  and showExtraTargets then closeDownTrendStart - (c * 5) else Double.NaN;
plot sixADRMinus = if (tradetype == tradetype.both or tradetype == tradetype.short) and DownTrend and plotADR and !showTodayOnly and showExtraTargets then closeDownTrendStart - (c * 6) else if (tradetype == tradetype.both or tradetype == tradetype.short) and DownTrend and plotADR and showTodayOnly  and today and afterStart and beforeEnd  and showExtraTargets then closeDownTrendStart - (c * 6) else Double.NaN;

UpTrendStopLoss.SetDefaultColor(Color.LIGHT_RED);
oneADRPlus.SetDefaultColor(Color.LIGHT_GREEN);
twoADRPlus.SetDefaultColor(Color.LIGHT_GREEN);
threeADRPlus.SetDefaultColor(Color.LIGHT_GREEN);
fourADRPlus.SetDefaultColor(Color.LIGHT_GREEN);
fiveADRPlus.SetDefaultColor(Color.LIGHT_GREEN);
sixADRPlus.SetDefaultColor(Color.LIGHT_GREEN);

DownTrendStopLoss.SetDefaultColor(Color.LIGHT_GREEN);
oneADRMinus.SetDefaultColor(Color.LIGHT_RED);
twoADRMinus.SetDefaultColor(Color.LIGHT_RED);
threeADRMinus.SetDefaultColor(Color.LIGHT_RED);
fourADRMinus.SetDefaultColor(Color.LIGHT_RED);
fiveADRMinus.SetDefaultColor(Color.LIGHT_RED);
sixADRMinus.SetDefaultColor(Color.LIGHT_RED);


#################################################################
############          ADR/ATR Zone Shading              #########
#################################################################
def u = if UpTrend then closeUpTrendStart else Double.NaN;
def d = if DownTrend then closeDownTrendStart else Double.NaN;
def bnumUpCheck = if bnumUp != 0 then 1 else Double.NaN;
def bnumDownCheck = if bnumDown != 0 then 1 else Double.NaN;
AddCloud(if showADRZones and UpTrend and bnumUpCheck and showExtraTargets then sixADRPlus else if showADRZones and UpTrend and bnumUpCheck then threeADRPlus else Double.NaN, if showADRZones and UpTrend and bnumUpCheck then u else Double.NaN , CreateColor(213,252,213));
AddCloud(if showADRZones and UpTrend then u else Double.NaN, if showADRZones and UpTrend then UpTrendStopLoss else Double.NaN , CreateColor(255,174,174));
# - Shade Downtrend ADR/ATR zones
AddCloud(if showADRZones and DownTrend and bnumDownCheck then d else Double.NaN, if showADRZones and DownTrend and bnumDownCheck and showExtraTargets then sixADRMinus else if showADRZones and DownTrend and bnumDownCheck then threeADRMinus else Double.NaN , CreateColor(213,252,213));
AddCloud(if showADRZones and DownTrend then DownTrendStopLoss else Double.NaN, if showADRZones and DownTrend then d else Double.NaN, CreateColor(255,174,174));


#################################################################
####    RSM shade areas based on criteria; adjust as needed  ####
#################################################################
AddCloud(if showRSMShade and RSI >= 50 and SlowK >= 50 and Value > Avg then Double.POSITIVE_INFINITY else Double.NaN, if RSI >= 50 and SlowK >= 50 and Value > Avg then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_GREEN);
AddCloud(if showRSMShade and RSI < 50 and SlowK < 50 and Value < Avg then Double.POSITIVE_INFINITY else Double.NaN, if RSI < 50 and SlowK < 50 and Value < Avg then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_RED);


#################################################################
############   Labels disable/blockout as needed        #########
#################################################################
# - Trend Labels
AddLabel(showTrendLabels and (bnumDown != 0 or bnumUp != 0), "Trend BAR#: " + (if bnumUp > 0 then bnumUp else + bnumDown), if bnumUp > 0 then Color.GREEN else Color.RED);
AddLabel(showTrendLabels and (bnumDown != 0 or bnumUp != 0), "Trend @ $:" + (if bnumUp > 0 then closeUpTrendStart else  + closeDownTrendStart), if bnumUp > 0 then Color.GREEN else Color.RED);
AddLabel(showTrendLabels, "Tot Bars:" + (if bnumUp > 0 then UpTrendBarCount else DownTrendBarCount), if bnumUp > 0 then Color.GREEN else Color.RED);
AddLabel(showTrendLabels, "RSM:" + (if UpTrend == 1 then "L" else if DownTrend == 1 then "S" else "I"), if UpTrend == 1 then Color.GREEN else if DownTrend == 1 then Color.RED else Color.GRAY);

# - ADR/ATR Labels Targets
AddLabel(showADRLabels, "Open:" + dailyO, Color.ORANGE);

AddLabel(showADRLabels and (UpTrend or DownTrend), "Target #1: " + (if UpTrend then round(oneADRPlus,2) else if DownTrend then round(oneADRMinus,2) else Double.NaN)+ " ", if UpTrend then Color.GREEN else if DownTrend then Color.RED else Color.GRAY);
AddLabel(showADRLabels and (UpTrend or DownTrend), "Target #2: " + (if UpTrend then round(twoADRPlus,2) else if DownTrend then round(twoADRMinus,2) else Double.NaN)+ " ", if UpTrend then Color.GREEN else if DownTrend then Color.RED else Color.GRAY);
AddLabel(showADRLabels and (UpTrend or DownTrend), "Target #3: " + (if UpTrend then round(threeADRPlus,2) else if DownTrend then round(threeADRMinus,2) else Double.NaN)+ " ", if UpTrend then Color.GREEN else if DownTrend then Color.RED else Color.GRAY);

# - Indicator Label
AddLabel(if showIndicatorLabels then yes else no, "RSI:" + Round (RSI, 2) + " | sK:" + Round(SlowK, 2) + " | Macd:" + Round(Value, 4) + "  ", Color.ORANGE);

#### ALERTS Sound
alert(audibleAlerts and upArrow,"RSM UpTrend Started",alert.BAR,sound.DING);
alert(audibleAlerts and downArrow,"RSM DownTrend Started",alert.BAR,sound.DING);

RSM Lower

Features

1. 3 Indicators in 1
   1. RSI - Only
   2. Stochastic - Only
   3. RSI & Stochastic
   4. MACD - Only
2. Will shade lower area when trend is confirmed for each indicator individually
3. All settings for each indicator made avaiable in settings for user configuration
4. Paint Bars if not used with upper study - user configurable

#RSM_Lower_v1.3
#
#CHANGELOG
#
# 2021.01.11 V1.3 @cos251 - Addjusted lower shading to shade trends when individual indicator crosses respective midline
#                           Shading will match if stochPlots is set to "Both" (RSI & Stochastci)
#
# 2020.11.30 V1.2 @cos251 - Added quick option to select plot(s) (RSI, Stochastic, Both or MACDOnly), set SlowD to enabled,
#                           user can uncheck SlowD plot if desired; adjusted coloring and shading to work with
#                           any plot selected; Combined plots for ease of use.
#
# 2020.10.30 V1.1 @cos251 - Added UpTrend and DownTrend variables that can be used for a SCAN (HAS BEEN REMOVED)
# 2020.10.27 V1.0 @cos251 - Added RSI, StochasticSlow and MACD to same indicator; this
#                           will plot only RSI and Stochastic but also
#                         - calculates MACD; Will shade the lower plot area of the following conditions are met
#                           Shade GREEN = RSI > 50 and SlowK > 50 and (macd)Value > (macd)Avg
#                           Shade RED = RSI < 50 and SlowK < 50 and (macd)Value < (macd)Avg
#          
#REQUIREMENTS - RSI Set to 7, EXPONENTIAL
#               Stoch Slow 14 and 3 WILDERS
#               MACD 12,26,9 WEIGHTED
#
#
#CREDITS
# requesed by "@Joseph Patrick 18"
#
#LINK
# https://rockwell-files.s3.amazonaws.com/PXCompanionGuide2ndEd_cover.pdf
# Markus Heikoetter who is the author of the Power X Strategy
# https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/
#
#USAGE
#



declare lower;

input paintBars = yes;
input selectPlots = { default "RSI", "Stochastic", "Both", "MACDOnly" };

################################################################
##########                 RSI                         #########
################################################################

input lengthRSI = 7;
input over_BoughtRSI = 80;
input over_SoldRSI = 20;
input price = close;
input averageTypeRSI = AverageType.EXPONENTIAL;
input showBreakoutSignalsRSI = no;
input showRSI_obos = no;


def NetChgAvg = MovingAverage(averageTypeRSI, price - price[1], lengthRSI);
def TotChgAvg = MovingAverage(averageTypeRSI, AbsValue(price - price[1]), lengthRSI);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
def calcRSI = 50 * (ChgRatio + 1);

plot RSI = if selectPlots == selectPlots.RSI or selectPlots == selectPlots.Both then calcRSI else Double.NaN;
plot OverSold_RSI = if (selectPlots == selectPlots.RSI or selectPlots == selectPlots.Both) and showRSI_obos then over_SoldRSI else Double.NaN;
plot OverBought_RSI = if (selectPlots == selectPlots.RSI or selectPlots == selectPlots.Both) and showRSI_obos then over_BoughtRSI else Double.NaN;
plot UpSignalRSI = if RSI crosses above OverSold_RSI then OverSold_RSI else Double.NaN;
plot DownSignalRSI = if RSI crosses below OverBought_RSI then OverBought_RSI else Double.NaN;
UpSignalRSI.SetHiding(!showBreakoutSignalsRSI);
DownSignalRSI.SetHiding(!showBreakoutSignalsRSI);
RSI.DefineColor("OverBought", GetColor(5));
RSI.DefineColor("Normal", Color.YELLOW);
RSI.DefineColor("OverSold", GetColor(1));
#RSI.AssignValueColor(if RSI > rsiover_Bought then RSI.Color("OverBought") else if RSI < rsiover_Sold then RSI.Color("OverSold") else RSI.Color("Normal"));
OverSold_RSI.SetDefaultColor(GetColor(8));
OverBought_RSI.SetDefaultColor(GetColor(8));
UpSignalRSI.SetDefaultColor(Color.UPTICK);
UpSignalRSI.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
DownSignalRSI.SetDefaultColor(Color.DOWNTICK);
DownSignalRSI.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);


################################################################
##########                 Stochastic Slow             #########
################################################################
input over_boughtSt = 80;
input over_soldSt = 20;
input KPeriod = 14;
input DPeriod = 3;
input priceH = high;
input priceL = low;
input priceC = close;
input averageTypeStoch = AverageType.WILDERS;
input showBreakoutSignalsStoch = {default "No", "On SlowK", "On SlowD", "On SlowK & SlowD"};
input showStochastic_ob_os = no;

def calcSlowK = reference StochasticFull(over_boughtSt, over_soldSt, KPeriod, DPeriod, priceH, priceL, priceC, 3, averageTypeStoch).FullK;
def calcSlowD = reference StochasticFull(over_boughtSt, over_soldSt, KPeriod, DPeriod, priceH, priceL, priceC, 3, averageTypeStoch).FullD;
plot SlowK = if selectPlots == selectPlots.Stochastic or selectPlots == selectPlots.Both then calcSlowK else Double.NaN;
plot SlowD = if selectPlots == selectPlots.Stochastic or selectPlots == selectPlots.Both then calcSlowD else Double.NaN;
plot OverBoughtSt = if (selectPlots == selectPlots.Stochastic or selectPlots == selectPlots.Both) and showStochastic_ob_os then over_boughtSt else Double.NaN;
plot OverSoldSt = if (selectPlots == selectPlots.Stochastic or selectPlots == selectPlots.Both) and showStochastic_ob_os then over_soldSt else Double.NaN;

def upK = SlowK crosses above OverSoldSt;
def upD = SlowD crosses above OverSoldSt;
def downK = SlowK crosses below OverBoughtSt;
def downD = SlowD crosses below OverBoughtSt;

plot UpSignalSt;
plot DownSignalSt;
switch (showBreakoutSignalsStoch) {
case "No":
    UpSignalSt = Double.NaN;
    DownSignalSt = Double.NaN;
case "On SlowK":
    UpSignalSt = if upK then OverSoldSt else Double.NaN;
    DownSignalSt = if downK then OverBoughtSt else Double.NaN;
case "On SlowD":
    UpSignalSt = if upD then OverSoldSt else Double.NaN;
    DownSignalSt = if downD then OverBoughtSt else Double.NaN;
case "On SlowK & SlowD":
    UpSignalSt = if upK or upD then OverSoldSt else Double.NaN;
    DownSignalSt = if downK or downD then OverBoughtSt else Double.NaN;
}
UpSignalSt.SetHiding(showBreakoutSignalsStoch == showBreakoutSignalsStoch."No");
DownSignalSt.SetHiding(showBreakoutSignalsStoch == showBreakoutSignalsStoch."No");
SlowK.SetDefaultColor(Color.WHITE);
SlowD.SetDefaultColor(Color.DARK_ORANGE);
OverBoughtSt.SetDefaultColor(GetColor(1));
OverSoldSt.SetDefaultColor(GetColor(1));
UpSignalSt.SetDefaultColor(Color.UPTICK);
UpSignalSt.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
DownSignalSt.SetDefaultColor(Color.DOWNTICK);
DownSignalSt.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);


#################################################################
#MACD Calculation
input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;
input averageTypeMACD = AverageType.WEIGHTED;
input showBreakoutSignalsMACD = no;
def calcValue = MovingAverage(averageTypeMACD, close, fastLength) - MovingAverage(averageTypeMACD, close, slowLength);
def calcAvg = MovingAverage(averageTypeMACD, calcValue, MACDLength);
def calcDiff = calcValue - calcAvg;
plot ZeroLine = if selectPlots == selectPlots.MACDOnly then 0 else Double.NaN;
plot Value = if selectPlots == selectPlots.MACDOnly then calcValue else Double.NaN;
plot Avg = if selectPlots == selectPlots.MACDOnly then calcAvg else Double.NaN;
plot Diff = if selectPlots == selectPlots.MACDOnly then calcDiff else Double.NaN;
plot UpSignalMACD = if calcDiff crosses above 0 then 0 else Double.NaN;
plot DownSignalMACD = if calcDiff crosses below 0 then 0 else Double.NaN;

UpSignalMACD.SetHiding(!showBreakoutSignalsMACD);
DownSignalMACD.SetHiding(!showBreakoutSignalsMACD);

Value.SetDefaultColor(Color.GREEN);
Avg.SetDefaultColor(Color.RED);
Diff.SetDefaultColor(GetColor(5));
Diff.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
Diff.SetLineWeight(4);
Diff.DefineColor("Positive and Up", Color.CYAN);
Diff.DefineColor("Positive and Down", Color.BLUE);
Diff.DefineColor("Negative and Down", Color.RED);
Diff.DefineColor("Negative and Up", Color.YELLOW);
Diff.AssignValueColor(if Diff >= 0 then if Diff > Diff[1] then Diff.Color("Positive and Up") else Diff.Color("Positive and Down") else if Diff < Diff[1] then Diff.Color("Negative and Down") else Diff.Color("Negative and Up"));
ZeroLine.SetDefaultColor(GetColor(0));
UpSignalMACD.SetDefaultColor(Color.UPTICK);
UpSignalMACD.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
DownSignalMACD.SetDefaultColor(Color.DOWNTICK);
DownSignalMACD.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);


# Check Each Signal for over 50 and MACD for Value > Avg
def rsiGreen = if calcRSI > 50 then 1 else Double.NaN;
def rsiRed = if calcRSI < 50 then 1 else Double.NaN;
def stochGreen = if calcSlowK >= 50 then 1 else Double.NaN;
def stochRed = if calcSlowK < 50 then 1 else Double.NaN;
def macdGreen = if calcValue > calcAvg then 1 else Double.NaN;
def macdRed = if calcValue < calcAvg then 1 else Double.NaN;
def green = if rsiGreen and stochGreen and macdGreen then 1 else Double.NaN;
def red = if rsiRed and stochRed and macdRed then 1 else Double.NaN;


#RSI Color Assignment per requeset
RSI.AssignValueColor(if calcRSI > 50 and calcSlowK > 50 and calcValue > calcAvg then Color.GREEN else if calcRSI < 50 and calcSlowK < 50 and calcValue < calcAvg then Color.RED else Color.DARK_GRAY);

#AssignPriceColor
AssignPriceColor(if paintBars and calcRSI > 50 and calcSlowK > 50 and calcValue > calcAvg then Color.GREEN else if paintBars and calcRSI < 50 and calcSlowK < 50 and calcValue < calcAvg then Color.RED else if paintBars then Color.DARK_GRAY else Color.CURRENT);

#################################################################
############  Shade areas based on criteria; adjust as needed  ##
#################################################################
AddCloud(if rsiGreen and stochGreen and selectPlots == selectPlots.Both then Double.POSITIVE_INFINITY else Double.NaN, if rsiGreen and StochGreen and selectPlots == selectPlots.Both then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_GREEN);
AddCloud(if rsiRed and stochRed and selectPlots == selectPlots.Both then Double.POSITIVE_INFINITY else Double.NaN, if rsiRed and stochRed and selectPlots == selectPlots.Both then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_RED);

AddCloud(if rsiGreen and selectPlots == selectPlots.RSI then Double.POSITIVE_INFINITY else Double.NaN, if rsiGreen and selectPlots == selectPlots.RSI then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_GREEN);
AddCloud(if rsiRed and selectPlots == selectPlots.RSI then Double.POSITIVE_INFINITY else Double.NaN, if rsiRed and selectPlots == selectPlots.RSI then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_RED);

AddCloud(if stochGreen and selectPlots == selectPlots.Stochastic then Double.POSITIVE_INFINITY else Double.NaN, if stochGreen and selectPlots == selectPlots.Stochastic then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_GREEN);
AddCloud(if stochRed and selectPlots == selectPlots.Stochastic then Double.POSITIVE_INFINITY else Double.NaN, if stochRed and selectPlots == selectPlots.Stochastic then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_RED);

AddCloud(if macdGreen and selectPlots == selectPlots.MACDOnly then Double.POSITIVE_INFINITY else Double.NaN, if macdGreen and selectPlots == selectPlots.MACDOnly then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_GREEN);
AddCloud(if macdRed and selectPlots == selectPlots.MACDOnly then Double.POSITIVE_INFINITY else Double.NaN, if macdRed and selectPlots == selectPlots.MACDOnly then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_RED);

plot fifty = if selectPlots == selectPlots.RSI or selectPlots == selectPlots.Stochastic or selectPlots == selectPlots.Both then 50 else Double.NaN;
fifty.SetDefaultColor(Color.RED);

RSM MTF (Labels)

Features

1. Provides chart labels (upper left corner of price chart) with current status of MTF RSM Trend for the following TF's
   1. 1m, 2m, 3m, 4m, 5m, 10m, 15m, 20m, 30m, 1h, 2h, 4h, 1d, 2d, 3d, 4d, 1wk, 1mnth
   2. Add indicator for each time frame you would like shown

#START OF RSI/Stochastic/MACD Confluence Strategy for ThinkOrSwim
# RSM_MTF_Labels
#
#CHANGELOG
# 2020.12.30 V2.1 @SuryaKiranC - Fork from @cos251 Version, to reduce the number of lines in code and optimize for performance.
#
# 2020.12.11 V1.1 @cos251 - Added 2D, 3D, 4D, 1WK, 1MNTH Agg Period Labels
#
# 2020.12.02 V1.0 @cos251 - Added RSM signal calculation for following timeframes:
#                         - 1m, 2m, 5m, 15m, 30m, 1h, 2h, 4h, D
#                         - Label will be added to top of chart for every allowed TF
#                         - Label will read "TF:L(Long):S(Short):I(Idle)"
#                         - Label Color will be green, red or gray accordingly
#
#       
#REQUIREMENTS - RSI Set to 7, EXPONENTIAL
#               Stoch Slow 14 and 3 WILDERS
#               MACD 12,26,9 WEIGHTED
#
#ORIGINAL REQUEST - @Joseph Patrick 18
#                 - Link: https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/
#
#

input period = AggregationPeriod.DAY;

DefineGlobalColor("UpTrend", Color.Green);
DefineGlobalColor("DownTrend", Color.RED);
DefineGlobalColor("NoTrend", Color.GRAY);

script RSM_ {

    input aP = AggregationPeriod.DAY;
    # RSI
    def lengthRSI = 7;
    def averageTypeRSI = AverageType.EXPONENTIAL;
    # Stochastic
    def over_boughtSt = 80;
    def over_soldSt = 20;
    def KPeriod = 14;
    def DPeriod = 3;
    input averageTypeStoch = AverageType.WILDERS;
    # MACD
    def fastLength = 12;
    def slowLength = 26;
    def MACDLength = 9;
    def averageTypeMACD = AverageType.WEIGHTED;

    ###############################################################
    ##########                 RSI                         #########
    ################################################################

    def NetChgAvg = MovingAverage(averageTypeRSI, close(period = aP) - close(period = aP)[1], lengthRSI);
    def TotChgAvg = MovingAverage(averageTypeRSI, AbsValue(close(period = aP) - close(period = aP)[1]), lengthRSI);
    def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
    def RSI_ = 50 * (ChgRatio + 1);

    ################################################################
    ##########                 Stochastic Slow             #########
    ################################################################

    def SlowK_ = reference StochasticFull(over_boughtSt,  over_soldSt,  KPeriod,  DPeriod,  high(period = aP),  low(period = aP),  close(period = aP),  3, if (averageTypeStoch == 1) then AverageType.SIMPLE else AverageType.EXPONENTIAL).FullK;
    def SlowD_ = reference StochasticFull(over_boughtSt,  over_soldSt,  KPeriod,  DPeriod,  high(period = aP),  low(period = aP),  close(period = aP),  3, if (averageTypeStoch == 1) then AverageType.SIMPLE else AverageType.EXPONENTIAL).FullD;

    ################################################################
    ##########                 MACD                      ###########
    ################################################################

    def Value_ = MovingAverage(averageTypeMACD, close(period = aP), fastLength) - MovingAverage(averageTypeMACD, close(period = aP), slowLength);
    def Avg_ = MovingAverage(averageTypeMACD, Value_, MACDLength);
    def Diff_ = Value_ - Avg_;

    #################################################################
    ##########          Trend  & Labels                   #########
    #################################################################
    def UpTrend_ = if RSI_ >= 50 and SlowK_ >= 50 and Value_ > Avg_ then 1 else 0;
    def DownTrend_ = if RSI_ < 50 and SlowK_ < 50 and Value_ < Avg_ then 1 else 0;
    plot Trend_ = if UpTrend_ then 1 else if DownTrend_ then 0 else -1;

}

def currentPeriod = GetAggregationPeriod();
def RSM;

if period >= currentPeriod {
    RSM = RSM_(aP = period);

} else {
    RSM = Double.NaN;

}

AddLabel(!IsNaN(RSM), if period == AggregationPeriod.MONTH then "M"
else if period == AggregationPeriod.WEEK then "W"
else if period == AggregationPeriod.FOUR_DAYS then "4D"
else if period == AggregationPeriod.THREE_DAYS then "3D"
else if period == AggregationPeriod.TWO_DAYS then "2D"
else if period == AggregationPeriod.DAY then "D"
else if period == AggregationPeriod.FOUR_HOURS then "4H"
else if period == AggregationPeriod.TWO_HOURS then "2H"
else if period == AggregationPeriod.HOUR then "60m"
else if period == AggregationPeriod.THIRTY_MIN then "30m"
else if period == AggregationPeriod.TWENTY_MIN then "20m"
else if period == AggregationPeriod.FIFTEEN_MIN then "15m"
else if period == AggregationPeriod.TEN_MIN then "10m"
else if period == AggregationPeriod.FIVE_MIN then "5m"
else if period == AggregationPeriod.FOUR_MIN then "4m"
else if period == AggregationPeriod.THREE_MIN then "3m"
else if period == AggregationPeriod.TWO_MIN then "2m"
else if period == AggregationPeriod.MIN then "1m"
else "", if RSM == 1 then GlobalColor("UpTrend") else if RSM == 0 then GlobalColor("DownTrend") else GlobalColor("NoTrend"));

RSM SCAN

• Scanner Setup Instructions:
  1. Click Create (Create New Study)
  2. Remove the default plot statement and past the code block from RSM_SCAN.
  3. Save the study with name "RSM_SCAN", make sure it is not loaded in your studies on the right, if it is loaded by default when you saved it, please remove we don't need this on chart study.
  4. Go to Scan, Remove all the filters and add a new filter, select "Study" as a filter, Default study selected will be "ADXCrossOver", Click on Pencil Icon next to Default TimeFrame "D" and click "ThinkScript Editor".
  5. Here you can past one of the scan query RSM_SCAN().UpTrendJustStarted or RSM_SCAN().DownTrendJustStarted.
  6. You can even limit the scan results, select a default narrowed down list as "S&P 500" under "Scan In, on the scan tab itself.
  7. Finally you can save the scan query with a name.
  8. Repeat Step 4 to 7, for other scan queries.
• The following scan queries are available
  1. RSM_Scan().UpTrend (UpTrend in Progress, in the selected timeframe for Scan)
  2. RSM_Scan().UpTrendJustStarted (Uptrend Just started, in the selected timeframe for Scan)
  3. RSM_Scan().DownTrend (DownTrend in Progress, in the selected timeframe for Scan)
  4. RSM_Scan().DownTrendJustStarted (DownTrend Just started, in the selected timeframe for Scan)
  5. RSM_Scan().UpTrendJustEnded (UpTrend finished, in the selected timeframe for Scan)
  6. RSM_Scan().DownTrendJustEnded (DownTrend finished, in the selected timeframe for Scan)
• As always, please match the chart timeframe to your Scanner Settings for review.

#START OF RSI/Stochastic/MACD Confluence combo for ThinkOrSwim
#
# RSM_SCAN
#
#CHANGELOG
# 2020.12.05 - V1.0 @cos251 - RSM SCANS study - to be used to scan for following conditions:
#            - Stocks currently in UpTrend
#            - Stocks currently in DownTrend
#            - Stocks where UpTrendJustSarted - first bar of UpTrend for scanend TF
#            - Stocks where DownTrendJustStarted - first bar of DownTrend for scanned TF
#            - Stocks where UpTredJustEnded - first NO Trend bar after UpTrend
#            - Stocks where DownTrendJustEnded - first NO Trend bar after DownTrend
#            - Recommend using default studies for SCANS of RSI, Stochastics or MACD for efficiency
#           
#REQUIREMENTS - RSI Set to 7, EXPONENTIAL
#               Stoch Slow 14 and 3 WILDERS
#               MACD 12,26,9 WEIGHTED
#
#
#CREDITS
# requesed by "@Joseph Patrick 18"
#
#LINK
# https://rockwell-files.s3.amazonaws.com/PXCompanionGuide2ndEd_cover.pdf
# Markus Heikoetter who is the author of the Power X Strategy
# https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/
#
#USAGE
#
declare lower;

plot fiftyLine = 50;
################################################################
##########                 RSI                         #########
################################################################

input lengthRSI = 7;
input over_BoughtRSI = 80;
input over_SoldRSI = 20;
input price = close;
input averageTypeRSI = AverageType.EXPONENTIAL;
def NetChgAvg = MovingAverage(averageTypeRSI, price - price[1], lengthRSI);
def TotChgAvg = MovingAverage(averageTypeRSI, AbsValue(price - price[1]), lengthRSI);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
def RSI = 50 * (ChgRatio + 1);


################################################################
##########                 Stochastic Slow             #########
################################################################
input over_boughtSt = 80;
input over_soldSt = 20;
input KPeriod = 14;
input DPeriod = 3;
input priceH = high;
input priceL = low;
input priceC = close;
input averageTypeStoch = AverageType.WILDERS;
def SlowK = reference StochasticFull(over_boughtSt, over_soldSt, KPeriod, DPeriod, priceH, priceL, priceC, 3, averageTypeStoch).FullK;
def SlowD = reference StochasticFull(over_boughtSt, over_soldSt, KPeriod, DPeriod, priceH, priceL, priceC, 3, averageTypeStoch).FullD;


#################################################################
############           MACD Calculation                 #########
#################################################################
input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;
input averageTypeMACD = AverageType.WEIGHTED;
def Value = MovingAverage(averageTypeMACD, close, fastLength) - MovingAverage(averageTypeMACD, close, slowLength);
def Avg = MovingAverage(averageTypeMACD, Value, MACDLength);
def Diff = Value - Avg;


#################################################################
############          SCAN Variables                    #########
#################################################################

# If you want to scan for stocks that are not in either trend you can add two filters and scan for false for both conditions

# The UpTrend and DownTrend plots can be used to scan for stocks that are currently in that trend
plot UpTrend = if RSI > 50 and SlowK > 50 and Value > Avg then 1 else Double.NaN;
plot DownTrend = if RSI < 50 and SlowK < 50 and Value < Avg then 1 else Double.NaN;
UpTrend.Hide();
DownTrend.Hide();

# The UpTrendJustStarted and DownTrendJustStarted plots can be used to find stocks that have just started
# a trend in either direction
def UpTrendJustStartedBool = if RSI > 50 and SlowK > 50 and Value > Avg then 1 else 0;
def DownTrendJustStartedBool = if RSI < 50 and SlowK < 50 and Value < Avg then 1 else 0;
plot UpTrendJustStarted = if UpTrendJustStartedBool == 1 and UpTrendJustStartedBool[1] == 0 then 1 else Double.NaN;
plot DownTrendJustStarted = if DownTrendJustStartedBool == 1 and DownTrendJustStartedBool[1] == 0 then 1 else Double.NaN;
UpTrendJustStarted.Hide();
DownTrendJustStarted.Hide();
plot UpTrendJustEnded= if UpTrendJustStartedBool[1] == 1 and UpTrendJustStartedBool == 0 then 1 else Double.NaN;
plot DownTrendJustEnded= if DownTrendJustStartedBool[1] == 1 and DownTrendJustStartedBool == 0 then 1 else Double.NaN;
UpTrendJustEnded.Hide();
DownTrendJustEnded.Hide();

STRATEGY

Below is code for a basic start to a strategy. Please use as you wish.
The orders are set to only open and close during RTH. Please adjust for what you may be looking for. Thanks.

#START OF RSI/Stochastic/MACD Confluence Strategy for ThinkOrSwim
# RSM Strategy - BASIC
#CHANGELOG
# 2020.10.27 V1.0 @cos251 - Added RSI, StochasticSlow and MACD to same indicator
#             - also calculates MACD;
#               Will shade the lower plot area of the following conditions are met
#                    Shade GREEN = RSI > 50 and SlowK > 50 and (macd)Value > (macd)Avg
#                    Shade RED = RSI < 50 and SlowK < 50 and (macd)Value < (macd)Avg
#                 
#REQUIREMENTS - RSI Set to 7, EXPONENTIAL
#               Stoch Slow 14 and 3 WILDERS
#               MACD 12,26,9 WEIGHTED

declare upper;


################################################################
##########            AddOrder Prep                    #########
################################################################
def bar = BarNumber();
def CloseAllCondition = SecondstillTime(1558) == 0;
def EOD = if SecondsTillTime(1558) == 0 and SecondsFromTime(1558) == 0 then 1 else 0;
def NotActive = if SecondsFromTime(1550) > 0 then 1 else 0;
def Active1 = if SecondsFromTime(0930) > 0 then 1 else 0;
def notrades = if SecondstillTime(1500) > 0 then 1 else 0;


################################################################
##########                 RSI                         #########
################################################################
input paintBars = yes;
input showShade = no;
input tradetype = { default "long", "short", "both" };
input lengthRSI = 7;
input price = close;
input averageTypeRSI = AverageType.EXPONENTIAL;
def NetChgAvg = MovingAverage(averageTypeRSI, price - price[1], lengthRSI);
def TotChgAvg = MovingAverage(averageTypeRSI, AbsValue(price - price[1]), lengthRSI);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
def RSI = 50 * (ChgRatio + 1);


################################################################
##########                 Stochastic Slow             #########
################################################################
input over_boughtSt = 80;
input over_soldSt = 20;
input KPeriod = 14;
input DPeriod = 3;
input priceH = high;
input priceL = low;
input priceC = close;
input averageTypeStoch = AverageType.WILDERS;
def SlowK = reference StochasticFull(over_boughtSt, over_soldSt, KPeriod, DPeriod, priceH, priceL, priceC, 3, averageTypeStoch).FullK;
def SlowD = reference StochasticFull(over_boughtSt, over_soldSt, KPeriod, DPeriod, priceH, priceL, priceC, 3, averageTypeStoch).FullD;



#################################################################
#MACD Calculation
input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;
input averageTypeMACD = AverageType.WEIGHTED;
def Value = MovingAverage(averageTypeMACD, close, fastLength) - MovingAverage(averageTypeMACD, close, slowLength);
def Avg = MovingAverage(averageTypeMACD, Value, MACDLength);
def Diff = Value - Avg;


#AssignPriceColor
AssignPriceColor(if paintBars and RSI >= 50 and SlowK >= 50 and Value > Avg then Color.GREEN else if paintBars and RSI < 50 and SlowK < 50 and Value < Avg then Color.RED else if paintBars then Color.DARK_GRAY else Color.CURRENT);

#################################################################
############  Shade areas based on criteria; adjust as needed  ##
#################################################################
AddCloud(if showShade and RSI >= 50 and SlowK >= 50 and Value > Avg then Double.POSITIVE_INFINITY else Double.NaN, if RSI >= 50 and SlowK >= 50 and Value > Avg then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_Green);
AddCloud(if showShade and RSI < 50 and SlowK < 50 and Value < Avg then Double.POSITIVE_INFINITY else Double.NaN, if RSI < 50 and SlowK < 50 and Value < Avg then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_RED);



#################################################################
############          SCAN Variables                    #########
#################################################################
plot UpTrend = if RSI >= 50 and SlowK >= 50 and Value > Avg then 1 else 0;
plot DownTrend = if RSI < 50 and SlowK < 50 and Value < Avg then 1 else 0;
def LongBuy = if UpTrend == 1 and UpTrend[1] == 0 then 1 else 0;
def LongExit = if UpTrend[1] == 1 and UpTrend == 0 then 1 else 0;
def ShortSell = if DownTrend == 1 and DownTrend[1] == 0 then 1 else 0;
def ShortExit = if DownTrend == 0 and DownTrend[1] == 1 then 1 else 0;
UpTrend.Hide();
DownTrend.Hide();
AddLabel(yes, if UpTrend == 1 then "::RSM-Signal:LONG" else if DownTrend == 1 then "::RSM-Signal:SHORT" else "::RSM-Signal:IDLE", if UpTrend == 1 then Color.GREEN else if DownTrend == 1 then Color.RED else Color.GRAY);

plot upArrow = if UpTrend == 1 and UpTrend[1] == 0 then low else Double.NaN;
upArrow.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
upArrow.SetDefaultColor(Color.GREEN);

plot downArrow = if DownTrend == 1 and DownTrend[1] == 0 then high else Double.NaN;
downArrow.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
downArrow.SetDefaultColor(Color.RED);


### BUY
#AddOrder(OrderType.BUY_TO_OPEN, LongBuy == 1 and (tradetype == tradetype.long or tradetype == tradetype.both), open, tickcolor = GetColor(9), #arrowcolor = GetColor(9), name = "LONG");

#AddOrder(OrderType.SELL_TO_CLOSE, LongExit == 1 and (tradetype == tradetype.long or tradetype == tradetype.both), open, tickcolor = #GetColor(9), arrowcolor = GetColor(9), name = "LONG_EXIT");

AddOrder(OrderType.BUY_AUTO, LongBuy == 1 and (tradetype == tradetype.long or tradetype == tradetype.both) and Active1 and notrades, price = close, tickcolor = Color.ORANGE, arrowcolor = Color.ORANGE, name = "BUY");

AddOrder(OrderType.Sell_To_Close, LongExit == 1 and (tradetype == tradetype.long or tradetype == tradetype.both), price = open[-1], tickcolor = Color.ORANGE, arrowcolor = Color.ORANGE, name = "Sell To Close");


AddOrder(OrderType.Sell_TO_CLOSE, EOD or closeAllCondition, price = close, tickcolor = Color.ORANGE, arrowcolor = Color.ORANGE, name = "SELL EOD");

### SELL
#AddOrder(OrderType.SELL_TO_OPEN, ShortSell == 1 and (tradetype == tradetype.short or tradetype == tradetype.both), open, tickcolor = #GetColor(9), arrowcolor = GetColor(8), name = "SHORT");
#AddOrder(OrderType.BUY_TO_CLOSE, ShortExit == 1 and (tradetype == tradetype.short or tradetype == tradetype.both), open, tickcolor = #GetColor(9), arrowcolor = GetColor(8), name = "Short_EXIT");

AddOrder(OrderType.SELL_AUTO, ShortSell == 1 and (tradetype == tradetype.short or tradetype == tradetype.both)  and Active1 and notrades , price = close, tickcolor = Color.YELLOW, arrowcolor = Color.YELLOW, name = "SELL");

AddOrder(OrderType.Buy_To_Close, ShortExit == 1 and (tradetype == tradetype.short or tradetype == tradetype.both), price = open[-1], tickcolor = Color.ORANGE, arrowcolor = Color.ORANGE, name = "Buy To Close");

AddOrder(OrderType.BUY_TO_CLOSE, EOD or closeAllCondition, price = close, tickcolor = Color.ORANGE, arrowcolor = Color.ORANGE, name = "BUY EOD");

Greetings!
On the RSM Lower, how can I change the gray and black background bars and gray section on the RSI chart? I'm using the chinese dark theme and the colors get blended in. Thank you!!

 

[ApeX Predator]

Greetings!
On the RSM Lower, how can I change the gray and black background bars and gray section on the RSI chart? I'm using the chinese dark theme and the colors get blended in. Thank you!!

Take out or comment the following line in the RSM_Lower Script.

RSI.AssignValueColor(if calcRSI > 50 and calcSlowK > 50 and calcValue > calcAvg then Color.GREEN else if calcRSI < 50 and calcSlowK < 50 and calcValue < calcAvg then Color.RED else Color.DARK_GRAY);

Alternatively, you can change to whatever colors you want in your setup.

 

[Esvee/SV]

@SuryaKiranC ... Hi Surya, need a bit of help/guidance. It may be weird, but wanted to check.
I am using UpTrendJustStartedBool==1 (along with RSI_Fractal Energy script)to trigger a custom buy condition. I manually enter the Order along with the trigger condition, in ToS, so that the order gets executed when the condition is fulfilled at Market price. But wanted to check Is there is a possible way to capture the price that got executed (generated for the given condition within the script) and use it in recursion to generate a Sell order condition. [Like add x% to price bought and generate a Sell condition]..

 

[ApeX Predator]

@SuryaKiranC ... Hi Surya, need a bit of help/guidance. It may be weird, but wanted to check.
I am using UpTrendJustStartedBool==1 (along with RSI_Fractal Energy script)to trigger a custom buy condition. I manually enter the Order along with the trigger condition, in ToS, so that the order gets executed when the condition is fulfilled at Market price. But wanted to check Is there is a possible way to capture the price that got executed (generated for the given condition within the script) and use it in recursion to generate a Sell order condition. [Like add x% to price bought and generate a Sell condition]..

Can you post the code?
-S

 

[Esvee/SV]

Can you post the code?
-S

def MidBuy = ((UpTrend is false) and (DownTrend is false) and Diff > Diff[1]);
def Trend = (UpTrendJustStartedBool == 1 and diff > diff[1]);

plot Buy = Trend or (Midbuy and RSI > .2)

rec SellValue = price crosses 1.01* entryprice();

Plot Sell = Buy and SellValue is true;


I am using Plot Buy condition to trigger the Buy order, and not sure if the 'entryprice() in rec Sellvalue' can capture the price that was triggered in plot Buy...
Btw, the RSI value captured from Fractal energy code...

 

[BigMiniFridge]

Amazing work you have done with this @cos251 , top notch! Thanks for all your hard work on this. Appreciate the mention as a contributor, glad to be of some small help in the larger scheme of things.


I got his book too because of all this . Have you seen Markus' latest video (Jan 20, 2021) on his PowerX book / strategy? It goes into more detail than an earlier video he did.

I knew this was PowerX just wasn't sure you were using it because of PowerX. Its pretty much my foundation now for ES. Just looking for things to add.

 

[bhaskar_madugula]

Anyone tested this strategy?
I tested 5 years QQQ and SPY Winners 60 Losers 30.
Please advice if it sounds good?
How do we get a trigger start of green zone and exit when black zone or red zone started?

 

[trendr]

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.

I use 1.5ATR for the stop and I don’t not adjust the anything after entering the position.

 

[trendr]

Does anyone use this indicator to trade live? It looks nice backtesting but when I tested it in real time I found that you have to wait three bars after the initial signal for confirmation that the signal is actually valid. By that time you're usually too late. If anyone does use it, I'd be interested to know how you are able to compensate for this disadvantage.

I use it live to swing trade. I use the daily timeframe as my entry as originally designed also W would be in trend as well for a better entry I use the 65min/30min also in trend as the signal to enter the trade.