Bid-Ask Spread Lines Indicator for ThinkorSwim

[tearofs]

I have updated this script to show spread in % instead of prices of BID/ASK. I have also fixed a issue that sometime the bar doesn't have BID or ASK (thus causing error a label on chart), if that's the case, it will pull data from 1 bar ago.

def lastPrice = if isnan(close(priceType = "LAST")) then lastPrice[1] else close(priceType = "LAST");
def askPrice = if isnan(close(priceType = "ASK")) then askPrice[1] else close(priceType = "ASK");
def bidPrice = if isnan(close(priceType = "BID")) then bidPrice[1] else close(priceType = "BID");
def spreadPercent = ((askPrice-bidPrice)/lastPrice);

AddLabel(yes, AsPercent(spreadPercent), if spreadPercent <= .02 then Color.CYAN else COLOR.RED);

 

[Mr_Wheeler]

I'm sorry if this a dumb question but what type of investment instruments would you use this type of indicator for?

 

[MerryDay]

I'm sorry if this a dumb question but what type of investment instruments would you use this type of indicator for?

works across all commodities.

 

[pymoondra]

I have updated this script to show spread in % instead of prices of BID/ASK. I have also fixed a issue that sometime the bar doesn't have BID or ASK (thus causing error a label on chart), if that's the case, it will pull data from 1 bar ago.

Does this not work with OnDemand? I am trying right now and I only see 0%.

Thanks.

 

[MerryDay]

Does this not work with OnDemand? I am trying right now and I only see 0%.

Thanks.

OnDemand has limited capability.
The script does work on the ToS live app

 

[ChaChing]

@DojiDude Try this:

# Bid / Ask Dynamic Line
# Mobius
# Chatroom 09.20.2013

Input LineLimit = 200;
Input SizeLabels = yes;

def bid = close(priceType = "Bid");
def ask = close(priceType = "Ask");
def barNumber = barNumber();
def Mark = close(priceType = "Mark");
def Last = close(priceType = "Last");
#Dynamic_Line
script dynamic{
   Input LineLimit = 200;
   input c = close;
   def bar = if IsNaN(c)
             then bar[1]
             else BarNumber();
   def ThisBar = HighestAll(bar);
   def cLine   = if bar == ThisBar
                 then c
                 else Double.NaN;

  plot P = if ThisBar - LineLimit <= bar
           then HighestAll(cLine)
           else Double.Nan;
}

plot B = dynamic(linelimit= linelimit,c = bid);
B .SetDefaultColor(Color.green);
B.SetStyle(Curve.FIRM);
B .SetLineWeight(1);

plot A = dynamic(linelimit = linelimit,c = ask);
A .SetDefaultColor(Color.MAGENTA);
A.SetStyle(Curve.FIRM);
A .SetLineWeight(1);
def Dir = if Last == Bid then 1 else 0;
def NotDir = if (Last != Bid) or (Last != Ask) then 1 else 0;
AddCloud(if Dir then A else Double.NaN, if Dir then B else Double.NaN, color.Green, color.Current);
AddCloud(if !Dir then A else Double.NaN,if !Dir then B else Double.NaN, color.Red, color.Current);
AddCloud(if NotDir then A else Double.NaN, B, Color.Gray, Color.Current);
AddLabel(yes, Concat("BID: ", AsDollars(close(priceType = "BID"))), if Dir then Color.GREEN else Color.RED );
AddLabel(yes, Concat("ASK: ", AsDollars(close(priceType = "ASK"))), if Dir then Color.RED else Color.GREEN);
# End Code Bid Ask Lines

Thanks, just what I was looking for.

 

[MidEvil]

@DojiDude Try this:

# Bid / Ask Dynamic Line
# Mobius
# Chatroom 09.20.2013

Input LineLimit = 200;
Input SizeLabels = yes;

def bid = close(priceType = "Bid");
def ask = close(priceType = "Ask");
def barNumber = barNumber();
def Mark = close(priceType = "Mark");
def Last = close(priceType = "Last");
#Dynamic_Line
script dynamic{
   Input LineLimit = 200;
   input c = close;
   def bar = if IsNaN(c)
             then bar[1]
             else BarNumber();
   def ThisBar = HighestAll(bar);
   def cLine   = if bar == ThisBar
                 then c
                 else Double.NaN;

  plot P = if ThisBar - LineLimit <= bar
           then HighestAll(cLine)
           else Double.Nan;
}

plot B = dynamic(linelimit= linelimit,c = bid);
B .SetDefaultColor(Color.green);
B.SetStyle(Curve.FIRM);
B .SetLineWeight(1);

plot A = dynamic(linelimit = linelimit,c = ask);
A .SetDefaultColor(Color.MAGENTA);
A.SetStyle(Curve.FIRM);
A .SetLineWeight(1);
def Dir = if Last == Bid then 1 else 0;
def NotDir = if (Last != Bid) or (Last != Ask) then 1 else 0;
AddCloud(if Dir then A else Double.NaN, if Dir then B else Double.NaN, color.Green, color.Current);
AddCloud(if !Dir then A else Double.NaN,if !Dir then B else Double.NaN, color.Red, color.Current);
AddCloud(if NotDir then A else Double.NaN, B, Color.Gray, Color.Current);
AddLabel(yes, Concat("BID: ", AsDollars(close(priceType = "BID"))), if Dir then Color.GREEN else Color.RED );
AddLabel(yes, Concat("ASK: ", AsDollars(close(priceType = "ASK"))), if Dir then Color.RED else Color.GREEN);
# End Code Bid Ask Lines

View attachment 6040

Any Idea on how to speed this up?
I've noticed it has a bit of a lag from my digital display of the bid and ask.
I would guess there is a setting to tinker with, but unfortunately, I'm not code savvy.
Any help would be greatly appreciated.
Thanks in advance.

 

[useThinkScript]

Any Idea on how to speed this up?
I've noticed it has a bit of a lag from my digital display of the bid and ask.
I would guess there is a setting to tinker with, but unfortunately, I'm not code savvy.
Any help would be greatly appreciated.
Thanks in advance.

There is nothing in the script causing a lag.
Which sadly means nothing can be added to the script to "speed this up"