ATR with Standard Deviation and Average for ThinkorSwim

[skynetgen]

ITs quite revealing about certain market behavior.

thinkScript Code

#skynetgen
#atr with stdev

declare lower;

input length = 14;
input averageType = AverageType.WILDERS;
input avglength=20;

 
def tr = TrueRange(high, close, low);


plot ATR = MovingAverage(averageType, tr, length);
ATR.SetDefaultColor(GetColor(8));
plot avg=expAverage(atr,avglength);
addcloud(atr,avg,color.green,color.red);

#stdev code. put in relvalue which you want measure
input RelDevLength=20;
input numDev = 1.0;
input ExtraDev = 2.3;
input MegaDev=4;
input MinDev=-1.3;
def relvalue=tr;
def rawRelDev = (relvalue - Average(relvalue , RelDevLength)) / StDev(relvalue, RelDevLength);
def base=lowest(relvalue,20); def cutoff=relvalue;
plot relstdev=if rawreldev+base>=cutoff then cutoff else base+rawreldev;

relstdev.setpaintingStrategy(paintingStrategy.SQUARED_HISTOGRAM);
relstdev.assignValueColor(
    if rawreldev>=MegaDev then color.cyan
    else if rawreldev>ExtraDev then color.green
    else if rawreldev>NumDev then color.dark_green
    else if RawRelDev<MinDev then  color.DARK_GRAY
    else color.current
    );

https://tos.mx/O9llhgT

https://imgur.com/a/HEQNGAl

 

[Schmidt42205]

Having trouble scanning for Cyan bars, looking to add the following to the code " cyan. plot go=rawRelDev >= MegaDev;" so that I can scan for "Go to be true" but keep coming up with errors. Does anybody have any ideas on how to make this work? Thank you for everyone's help, this site is very useful!!!

 

[brook0010]

"cyan." this should be erased

You should only have plot go=rawRelDev >= MegaDev;

Then you should be fine.

 

[Schmidt42205]

"cyan." this should be erased

You should only have plot go=rawRelDev >= MegaDev;

Then you should be fine.

Thank you so much, it worked perfectly!!

 

[bspratt22]

ITs quite revealing about certain market behavior.

thinkScript Code

#skynetgen
#atr with stdev

declare lower;

input length = 14;
input averageType = AverageType.WILDERS;
input avglength=20;

 
def tr = TrueRange(high, close, low);


plot ATR = MovingAverage(averageType, tr, length);
ATR.SetDefaultColor(GetColor(8));
plot avg=expAverage(atr,avglength);
addcloud(atr,avg,color.green,color.red);

#stdev code. put in relvalue which you want measure
input RelDevLength=20;
input numDev = 1.0;
input ExtraDev = 2.3;
input MegaDev=4;
input MinDev=-1.3;
def relvalue=tr;
def rawRelDev = (relvalue - Average(relvalue , RelDevLength)) / StDev(relvalue, RelDevLength);
def base=lowest(relvalue,20); def cutoff=relvalue;
plot relstdev=if rawreldev+base>=cutoff then cutoff else base+rawreldev;

relstdev.setpaintingStrategy(paintingStrategy.SQUARED_HISTOGRAM);
relstdev.assignValueColor(
    if rawreldev>=MegaDev then color.cyan
    else if rawreldev>ExtraDev then color.green
    else if rawreldev>NumDev then color.dark_green
    else if RawRelDev<MinDev then  color.DARK_GRAY
    else color.current
    );

https://tos.mx/O9llhgT

https://imgur.com/a/HEQNGAl

@skynetgen @MerryDay - can you please explain how you use your indicator? What the different colored bars represent and what you look for in a setup?

 

[MerryDay]

@skynetgen @MerryDay - can you please explain how you use your indicator? What the different colored bars represent and what you look for in a setup?

Did you know that clicking on a member's avatar will allow you to see when a member was last seen on the uTS forum? @skynetgen has not been seen in a while.

This type of indicator is popular in its use as support & resistance.

 

[Peace2019]

Thank you so much, it worked perfectly!!

the code not working, looking to add this code plot go=rawRelDev >= MegaDev; it keep coming up with error, how did you figure it out do you have any ideas on how to make it work? Thanks for the help.

 

[MerryDay]

the code not working, looking to add this code plot go=rawRelDev >= MegaDev; it keep coming up with error, how did you figure it out do you have any ideas on how to make it work? Thanks for the help.

Are you saying "coming up with error" when you cut and paste the code?
There are no errors. Try again to cut & paste. You should have an image that looks like this:

 

[jhorton56]

Where can I go to find out what these inputs mean?

input RelDevLength=20;
input numDev = 1.0;
input ExtraDev = 2.3;
input MegaDev=4;
input MinDev=-1.3;

Otherwise, this study makes absolutely no sense to me.

 

[armeredtech]

I only use this during market hours so it isn't built to be correct in pre- and post-market

input length = 13;
input averageType = AverageType.WILDERS;
input numDev = 1;
input numDev2 = 2;
input Period = AggregationPeriod.DAY;
plot closeedge = close(period = Period)[1];
def timeopen = SecondsFromTime(0930);
def timeclose = SecondstillTime(1600);

def markethours = if timeopen >= 0 and timeclose > 0 then 1 else 0;
def marketopen = if timeopen == 0 then 1 else 0;

def date = GetYYYYMMDD();
def datecount = CountTradingDays( 20000101, date);

rec dayhigh = if (markethours == 1) then if (marketopen == 1) then high else if high > dayhigh[1] then high else dayhigh[1] else dayhigh[1];

rec daylow = if (markethours == 1) then if (marketopen == 1) then low else if low < daylow[1] then low else daylow[1] else daylow[1];




def ATR = MovingAverage(averageType, TrueRange(high(period = Period), close(period = Period), low(period = Period)), length);

def StdDev = StDev(TrueRange(high(period = Period), close(period = Period), low(period = Period)), length);

def midhigh = if dayhigh - daylow > Max(AbsValue(dayhigh - close(period = Period)[1]), AbsValue( daylow - close(period = Period)[1])) then (daylow + atr) else (if dayhigh < close(period = Period)[1] then (daylow + atr) else close(period = Period)[1] + ATR);


def UpperBandhigh = midhigh + numDev * StdDev;
def LowerBandhigh = midhigh - numDev * StdDev;


def UpperBandhigh2 = midhigh + numDev2 * StdDev;
def LowerBandhigh2 = midhigh - numDev2 * StdDev;



def midlow = if (dayhigh - daylow) > Max(AbsValue(dayhigh - close(period = Period)[1]), AbsValue( daylow - close(period = Period)[1])) then (dayhigh - ATR) else (if daylow > close(period = Period)[1] then (dayhigh - ATR) else close(period = Period)[1] - ATR);

def UpperBandlow = midlow + numDev * StdDev;
def LowerBandlow = midlow - numDev * StdDev;


def UpperBandlow2 = midlow + numDev2 * StdDev;
def LowerBandlow2 = midlow - numDev2 * StdDev;

plot atrhigh = midhigh;
plot atrhighup = UpperBandhigh;
plot atrhighdown = LowerBandhigh;
plot atrhighup2 = UpperBandhigh2;
plot atrhighdown2 = LowerBandhigh2;

plot atrlow = midlow;
plot atrlowup = UpperBandlow;
plot atrlowdown = LowerBandlow;
plot atrlowup2 = UpperBandlow2;
plot atrlowdown2 = LowerBandlow2;

 

[MerryDay]

Where can I go to find out what these inputs mean?

input RelDevLength=20;
input numDev = 1.0;
input ExtraDev = 2.3;
input MegaDev=4;
input MinDev=-1.3;

Otherwise, this study makes absolutely no sense to me.

The OP has not been seen in a while so is not available to explain the thinking behind the original post.
@armeredtech's version perhaps is easier to understand?

 

[bmn]

@brook0010
@MerryDay
Just wondering how to add this as a scanner. I have this stored as a Study "Cm_RelStdDev". How do I scan for that plot?

This is definitely not what you specified: plot go=rawRelDev >= MegaDev;

But if I go to the Thinkscript editor to write, it's also invalid.

"cyan." this should be erased

You should only have plot go=rawRelDev >= MegaDev;

Then you should be fine.

 

[MerryDay]

@brook0010
@MerryDay
Just wondering how to add this as a scanner. I have this stored as a Study "Cm_RelStdDev". How do I scan for that plot?

This is definitely not what you specified: plot go=rawRelDev >= MegaDev;
View attachment 21161

But if I go to the Thinkscript editor to write, it's also invalid.
View attachment 21162

You got all these right:
1. choose your study
2. choose go as your plot
3. is greater than or equal to for your middle column

Change your right-hand column from MegaDev to:
choose 4 as value

Your attempt got an error because MegaDev is not a selectable field.
But you know from your settings that MegaDev == 4
So just put 4 in as your value.