Beep Boop Indicator for ThinkorSwim

[andre.muhammad]

@barbaros ...I just wanted you to know that this has become my number 1 indicator! Many thanks! I now need to figure out how to scan for bullish or bearish scenarios.

 

[barbaros]

@andre.muhammad I'm glad this indicator is helpful to you.

In order to scan for changes, you can create a custom filter and look for value changes for hist plot. Since the values are 0.1 and 0.09, you can look for value crossing below and above the valid values. I can also add value change indicators to make it a pretty much yes/no scan.

But, for now, you can do the following for bullish:

and for bearish:

Results for bullish on daily:

 

[mashume]

I turned this one into a candle-colouring upper study. Seems an interesting approach.

 

[andre.muhammad]

I turned this one into a candle-colouring upper study. Seems an interesting approach.

@mashume What does it look like? Do you have a picture?

 

[barbaros]

@andre.muhammad how are you using this indicator? What type of assets? Timeframes?

 

[andre.muhammad]

@barbaros I've been using this with a 15-minute time frame mainly...Sometimes I venture into lower frames, but I find that 15 minutes gives the best chances with big tech companies.

 

[mashume]

@mashume What does it look like? Do you have a picture?

This is on a 5 day 30 min chart.

/ES on 1000 ticks. Seems much better here than the first example. Just goes to show there's no easy single-indicator that works everywhere all the time.

happy trading
-mashume

 

[barbaros]

Very interesting. What are the 2 lines @mashume?

 

[mashume]

Very interesting. What are the 2 lines @mashume?

ITF Stochastic on the left y axis.

 

[barbaros]

Here is a version that paints the price bars, if anyone is interested. @mashume's chart looks good.

# Beep Boop
# Converted from TradingView
# v1 - 20210115 barbaros
# v2 - 20210117 barbaros - Added filter to show only in long term direction
# v3 - 20210122 barbaros - Added price bar painting

declare lower;
declare zerobase;

input FastLength = 12;       # Fast Length
input SlowLength = 26;       # Slow Length
input EMATrend = 50;         # EMA Trend
input EMAFilter = no;        # Only show in the direction of the trend
input EMAFilterPeriod = 200; # EMA Filter Trend Period
input Source = close;        # Source
input SignalLength = 9;      # Signal Smoothing, minval = 1, maxval = 50
input SMASource = no;        # Simple MA(Oscillator)
input SMASignal = no;        # Simple MA(Signal Line)
input ShowLabel = yes;       # Show indicator label
input PaintBars = no;       # Paints the price bars

def fast_ma = if SMASource then SimpleMovingAvg(Source, FastLength) else MovAvgExponential(Source, FastLength);
def slow_ma = if SMASource then SimpleMovingAvg(Source, SlowLength) else MovAvgExponential(Source, SlowLength);
def macd = fast_ma - slow_ma;
def signal = if SMASignal then SimpleMovingAvg(macd, SignalLength) else MovAvgExponential(macd, SignalLength);
def histVal = macd - signal;
def fastMA = MovAvgExponential(Source, EMATrend);
def longtermMA = MovAvgExponential(Source, EMAFilterPeriod);

plot hist = if histVal > 0 and (!EMAFilter or low > longtermMA) then 0.1
            else if histVal < 0  and (!EMAFilter or high < longtermMA) then 0.09
            else if EMAFilter then Double.NaN else histVal;


hist.defineColor("col_grow_above", CreateColor(38, 166, 154));
hist.defineColor("col_grow_below", CreateColor(255, 0, 0));
hist.defineColor("col_fall_above", CreateColor(255, 255, 255));
hist.defineColor("col_fall_below", CreateColor(255, 255, 255));
hist.defineColor("col_macd", CreateColor(0, 148, 255));
hist.defineColor("col_signal", CreateColor(255, 106, 0));

hist.setPaintingStrategy(PaintingStrategy.HISTOGRAM);
hist.assignValueColor(if hist == 0.1 then
                        if (hist == 0.1) and (close > fastMA) and (open > fastMA) and (low > fastMA) then
                            hist.Color("col_grow_above")
                        else
                            hist.Color("col_fall_above")
                      else
                        if (hist == 0.09) and (close < fastMA) and (open < fastMA) and (high < fastMA) then
                            hist.Color("col_grow_below")
                        else
                            hist.Color("col_fall_below"));

AssignPriceColor(
    if PaintBars then
        if hist == 0.1 then
        if (hist == 0.1) and (close > fastMA) and (open > fastMA) and (low > fastMA) then
            hist.Color("col_grow_above")
        else
            hist.Color("col_fall_above")
        else
        if (hist == 0.09) and (close < fastMA) and (open < fastMA) and (high < fastMA) then
            hist.Color("col_grow_below")
        else
            hist.Color("col_fall_below")
    else
        Color.CURRENT
);

AddLabel(ShowLabel,
        if hist == 0.1 then
            if (hist == 0.1) and (close > fastMA) and (open > fastMA) and (low > fastMA) then
                "Grow Above"
            else
                "Fall Above"
        else
            if (hist == 0.09) and (close < fastMA) and (open < fastMA) and (high < fastMA) then
                "Grow Below"
            else
                "FallBelow",
        if hist == 0.1 then
            if (hist == 0.1) and (close > fastMA) and (open > fastMA) and (low > fastMA) then
                hist.Color("col_grow_above")
            else
                hist.Color("col_fall_above")
        else
            if (hist == 0.09) and (close < fastMA) and (open < fastMA) and (high < fastMA) then
                hist.Color("col_grow_below")
            else
                hist.Color("col_fall_below")
);

 

[barbaros]

ITF Stochastic on the left y axis.

I’m not familiar with it. Is it custom?

 

[mashume]

I’m not familiar with it. Is it custom?

I don't believe so. I've modded it a bit:

#
# TD Ameritrade IP Company, Inc. (c) 2012-2020
# Modded Mashume 2020
#

declare zerobase;

input price = close;
input threshold = 0.5;
input length = 30;
input slowingLength = 5;
input over_bought = 90;
input over_sold = 60;

def rainbow = reference RainbowAverage(price = price, averageType = AverageType.WEIGHTED);
plot Stochastic = sum(rainbow - Lowest(rainbow, length), slowingLength) / (sum(Highest(rainbow, length) - Lowest(rainbow, length), slowingLength) + 0.0001) * 100;

def normStochRainbow = 0.1 * (Stochastic - 50);
plot IFT = 100 / (1 + exp(-2 * normStochRainbow));
plot OverBought = over_bought;
plot OverSold = over_sold;

Stochastic.SetDefaultColor(GetColor(2));
IFT.SetDefaultColor(GetColor(1));
OverBought.setDefaultColor(GetColor(5));
OverSold.setDefaultColor(GetColor(5));

def smalldip = if
        IFT > IFT[1]
    and IFT[1] < IFT[2]
    and IFT - IFT[1] >= threshold
    and IFT[7] > IFT
    and IFT[7] > 95
    and IFT[1] <= 92.5
    and IFT > over_sold
    then IFT ELSE DOUBLE.NAN;

plot small_dip = smalldip;
small_dip.SetPaintingStrategy(paintingStrategy = PaintingStrategy.ARROW_UP);
small_dip.SetDefaultColor(getColor(3));

but I left the original copyright.

EDIT:
I should explain the small_dip plot. The idea with this one is that, in a trending market (where the IFT is pegged near 100), a small dip in the IFT can indicate a place to 'get in on the momentum' if you will. Sometimes it fails and after a brief rebound, things fall flat -- Note the small blue arrow at the right of the LIFE chart above? That's the small dip being triggered... and then failing to maintain. Here's an example of it in action:

You can see the small blue arrow near the left, and the trend just continues going... The small dip showed a reasonable entry point.
happy trading
-mashume

 

[andre.muhammad]

@barbaros I ran the candle-coded version and I noticed a difference between the colored candles and the version I originally downloaded. I just wanted to let that be known.

 

[barbaros]

@barbaros I ran the candle-coded version and I noticed a difference between the colored candles and the version I originally downloaded. I just wanted to let that be known.

Make sure you have the same parameters selected for both. It is the same code that paints the bars on both.

 

[andre.muhammad]

Make sure you have the same parameters selected for both. It is the same code that paints the bars on both.

@barbaros I did...I think I used the very first version

 

[BillW]

I've been trying to apply to Futures /NQ, /YM, /GC, /HG, etc.. Doesn't seem to work well, at least with my calibrations. Any suggestions? I guess for forex it seems fairly justified

It's a trend trade above or below the 50EMA. It resonates well with me on 5 minute.
look at MACD weighted with a MACD line of 3 and you'll see why BEEP-BOOP is IMO better on a 5 min than 1 min

 

[ButtonDownBobby]

I"m using the "Beep Boop" as my entry into ThinkScript. I planned on adding the RSI as the height of the bars. I know the colors depend on the height but, if I can do it, then I'm learning. I added the counting part at the end.

I'd like to fix my lower studies range along the vertical axis to a range of 1 to 100. Currently it is taking on the value of the upper studies price...

# Beep Boop MTF
# Converted from TradingView
# v1 - 20210115 barbaros
# v2 - 20210117 barbaros - Added filter to show only in long term direction
# v3 - 20210121 barbaros - Added MTF, Removed Source

declare lower;
declare zerobase;
declare once_per_bar;


input FastLength = 12;                  # Fast Length
input SlowLength = 26;                  # Slow Length
input EMATrend = 50;                    # EMA Trend
input EMAFilter = no;                   # Only show in the direction of the trend
input EMAFilterPeriod = 200;            # EMA Filter Trend Period
input Agg = AggregationPeriod.FIVE_MIN; # Aggregation Period
input SignalLength = 9;                 # Signal Smoothing, minval = 1, maxval = 50
input SMASource = no;                   # Simple MA(Oscillator)
input SMASignal = no;                   # Simple MA(Signal Line)
input ShowLabel = yes;                  # Show indicator label

def fast_ma = if SMASource then SimpleMovingAvg(close(period = Agg), FastLength) else MovAvgExponential(close(period = Agg), FastLength);
def slow_ma = if SMASource then SimpleMovingAvg(close(period = Agg), SlowLength) else MovAvgExponential(close(period = Agg), SlowLength);
def macd = fast_ma - slow_ma;
def signal = if SMASignal then SimpleMovingAvg(macd, SignalLength) else MovAvgExponential(macd, SignalLength);
def histVal = macd - signal;
def fastMA = MovAvgExponential(close(period = Agg), EMATrend);
def longtermMA = MovAvgExponential(close(period = Agg), EMAFilterPeriod);

#plot asdf = RSI(200);


def histResult =      if histVal > 0 and (!EMAFilter or low > longtermMA) and (close > fastMA) and (open > fastMA) and (low > fastMA) then 10
            else if histVal < 0 and (!EMAFilter or high < longtermMA)and (close < fastMA) and (open < fastMA) and (high < fastMA) then 9
            # else if EMAFilter then Double.NaN else histVal;
            else 8;

plot hist =  histResult;


hist.defineColor("col_grow_above", CreateColor(38, 166, 154));
hist.defineColor("col_grow_below", CreateColor(255, 0, 0));
hist.defineColor("col_fall_above", CreateColor(255, 255, 255));
hist.defineColor("col_fall_below", CreateColor(255, 255, 255));
hist.defineColor("col_macd", CreateColor(0, 148, 255));
hist.defineColor("col_signal", CreateColor(255, 106, 0));

hist.setPaintingStrategy(PaintingStrategy.HISTOGRAM);
hist.assignValueColor(if hist == 10 then
                          hist.Color("col_grow_above")
                      else if (hist == 9) then
                          hist.Color("col_grow_below")
                      else
                          hist.Color("col_fall_below"));

AddLabel(ShowLabel,
        if hist == 10 then
            if (hist == 10) and (close > fastMA) and (open > fastMA) and (low > fastMA) then
                "Grow Above"
            else
                "Fall Above"
        else
            if (hist == 9) and (close < fastMA) and (open < fastMA) and (high < fastMA) then
                "Grow Below"
            else
                "FallBelow",
        if hist == 10 then
            if (hist == 10) and (close > fastMA) and (open > fastMA) and (low > fastMA) then
                hist.Color("col_grow_above")
            else
                hist.Color("col_fall_above")
        else
            if (hist == 9) and (close < fastMA) and (open < fastMA) and (high < fastMA) then
                hist.Color("col_grow_below")
            else
                hist.Color("col_fall_below")
);








def fall = 1;
plot pFall = fall;
pFall.SetDefaultColor(Color.WHITE);
def upLine = 1;
plot pUp = upLine;
pUp.SetDefaultColor(Color.GREEN);
def downLine = 1;
plot pDown = downLine;
pDown.SetDefaultColor(Color.RED);

def countUp = hist == 10; #color changed
def countDOWN = hist == 9; #color changed
def countFALL = hist == 8; #color changed


def barCount = CompoundValue(1,
     if countFALL and hist[1] != 8 then barCount[1] - barCount[1] + 1 else if countFALL and hist[1] == 8 then barCount[1] + 1
else if CountDOWN and hist[1] != 9 then barCount[1] - barCount[1] + 1 else if countDOWN and hist[1] == 9 then barCount[1] + 1
else if CountUP   and hist[1] != 10 then barCount[1] - barCount[1] + 1 else if countUP   and hist[1] == 10 then barCount[1] + 1
else 0, 0);

plot pBarDownCount = barCount;
pBarDownCount.SetPaintingStrategy(PaintingStrategy.VALUES_ABOVE);
pBarDownCount.AssignValueColor(Color.YELLOW);

 

[Joseph Patrick 18]

Here you go.

# Beep Boop MTF
# Converted from TradingView
# v1 - 20210115 barbaros
# v2 - 20210117 barbaros - Added filter to show only in long term direction
# v3 - 20210121 barbaros - Added MTF, Removed Source

declare lower;
declare zerobase;

input FastLength = 12;                  # Fast Length
input SlowLength = 26;                  # Slow Length
input EMATrend = 50;                    # EMA Trend
input EMAFilter = no;                   # Only show in the direction of the trend
input EMAFilterPeriod = 200;            # EMA Filter Trend Period
input Agg = AggregationPeriod.FIVE_MIN; # Aggregation Period
input SignalLength = 9;                 # Signal Smoothing, minval = 1, maxval = 50
input SMASource = no;                   # Simple MA(Oscillator)
input SMASignal = no;                   # Simple MA(Signal Line)
input ShowLabel = yes;                  # Show indicator label

def fast_ma = if SMASource then SimpleMovingAvg(close(period = Agg), FastLength) else MovAvgExponential(close(period = Agg), FastLength);
def slow_ma = if SMASource then SimpleMovingAvg(close(period = Agg), SlowLength) else MovAvgExponential(close(period = Agg), SlowLength);
def macd = fast_ma - slow_ma;
def signal = if SMASignal then SimpleMovingAvg(macd, SignalLength) else MovAvgExponential(macd, SignalLength);
def histVal = macd - signal;
def fastMA = MovAvgExponential(close(period = Agg), EMATrend);
def longtermMA = MovAvgExponential(close(period = Agg), EMAFilterPeriod);

plot hist = if histVal > 0 and (!EMAFilter or low > longtermMA) then 0.1
            else if histVal < 0  and (!EMAFilter or high < longtermMA) then 0.09
            else if EMAFilter then Double.NaN else histVal;


hist.defineColor("col_grow_above", CreateColor(38, 166, 154));
hist.defineColor("col_grow_below", CreateColor(255, 0, 0));
hist.defineColor("col_fall_above", CreateColor(255, 255, 255));
hist.defineColor("col_fall_below", CreateColor(255, 255, 255));
hist.defineColor("col_macd", CreateColor(0, 148, 255));
hist.defineColor("col_signal", CreateColor(255, 106, 0));

hist.setPaintingStrategy(PaintingStrategy.HISTOGRAM);
hist.assignValueColor(if hist == 0.1 then
                        if (hist == 0.1) and (close > fastMA) and (open > fastMA) and (low > fastMA) then
                            hist.Color("col_grow_above")
                        else
                            hist.Color("col_fall_above")
                      else
                        if (hist == 0.09) and (close < fastMA) and (open < fastMA) and (high < fastMA) then
                            hist.Color("col_grow_below")
                        else
                            hist.Color("col_fall_below"));

AddLabel(ShowLabel,
        if hist == 0.1 then
            if (hist == 0.1) and (close > fastMA) and (open > fastMA) and (low > fastMA) then
                "Grow Above"
            else
                "Fall Above"
        else
            if (hist == 0.09) and (close < fastMA) and (open < fastMA) and (high < fastMA) then
                "Grow Below"
            else
                "FallBelow",
        if hist == 0.1 then
            if (hist == 0.1) and (close > fastMA) and (open > fastMA) and (low > fastMA) then
                hist.Color("col_grow_above")
            else
                hist.Color("col_fall_above")
        else
            if (hist == 0.09) and (close < fastMA) and (open < fastMA) and (high < fastMA) then
                hist.Color("col_grow_below")
            else
                hist.Color("col_fall_below")
);

Hi @barbaros instead of using all of the lower real estate up is it feasible to set up a MTF label for this? Thanks in advance!

 

[barbaros]

Hi @barbaros instead of using all of the lower real estate up is it feasible to set up a MTF label for this? Thanks in advance!

Sure, you can drag it up to the upper chart and hide all the plot.

 

[Joseph Patrick 18]

Sure, you can drag it up to the upper chart and hide all the plot.

Hi @barbaros, Awesome worked like a charm thanks for taking the time appreciate it!