Repaints Bill Murray Indicator: Intraday for ThinkOrSwim

[Playstation]

Just as I finished posting, price really rebounded. I think the 0% and 100% is really helpful to predict a high probability of reversal, the question is how soon it will be, because after all, it is measuring the buying pressure. When it reaches 0 or 100%, there isn't much steam(or coal?) left to push the train further and hence the reversal potential is extremely high.

 

[Playstation]

And to add on, I zoomed in at a level that I'm comfortable with on intraday. Then I stopped zooming, and scrolled left to right to minimize, not prevent, the skewing, that's about it. Wish you guys good luck and thanks again for this @BillMurray

 

[Ramesh16]

@Playstation I learned of that combo from a trader on twitter named https://twitter.com/deafdaytrader . He passed away late last year. He was an older guy, and was REALLY deaf. I bought his PDF for 10 bucks long ago, and it changed my trading life forever. I learned that little system, tweaked it to my liking. His english was not that good, but in countless email exchanges with him back and forth, I learned the nuances of his thinking and the way he looked at the setup. Most importantly. DO NOT ZOOM It will catch tops and bottoms with incredible, spooky, accuracy.

I use the flexible grids below quite a bit. The first is for intraday. The 2nd is for swings.

https://tos.mx/0qXMaIh - Flexible Grid - INTRADAY - Reversal. - You'll note that each time frame is set to 2 days and their timeframe. DO NOT zoom.

https://tos.mx/7wNIPbV - Flexible Grid - SWING TRADE - Reversal - This is meant for swing trades. Pretty much flawless. Weekly is best for me here.

FWIW, and being that the man has passed, I've put a link to his PDF below. (I have it in my OneDrive). He was a genuine, helpful, successful small trader. He scalped the hell out of SPX daily using this system. Just small grabs on the trades he did. I use it on everything, it's an equal opportunity system. It just works.

My Favorite Indicator - DeafDayTrader

are you sure TRIN have positive and negative range

 

[BillMurray]

I'm not writing this to "defend" the AccumDistBuyPr / Slow Stoch combo indicator. I learned it from a lot of back and forth by DDD and screen time using it. MACD is also an important component of the little "system" and learning the nuances takes practice (screen time).

IMHO, there is NO "indicator" or "system" which is the silver bullet to trading success. Whatever gets one into and out of a trade consistently with a reasonable win/loss ratio respecting one's risk might be quite different for everyone.

I don't "write" thinkscript. I'm a skilled scalper / trader though. I've experimented with, and learned quite a few combos that work extremely well "FOR ME" and my style, respecting my rules. What looks like garbage to one, might consistently pay the bills for another. I tend to keep things very simple, I don't over complicate my screens. I don't trade "all stocks". I have a list of favorites and I only trade those because I know how they move on a day to day basis. Futures are my bread and butter. ( /CL /NG and /ES )

While it's tempting to goof around with "the next cool thing" it really comes down to what works for each of us individually.

@Ramesh16 I completely disregard TRIN. I pay very close attention to $TICK, $ADPSD, and /VX Those internals aren't used for /NG scalping, and to a lesser extent for /CL but are very important for scalping /ES and big caps for me. I spent a lot of time on my internals grid. $TICK is an extremely useful tool to me when viewed as a bar chart on the 1 minute time frame. Patterns, Kick Offs, and Divergences can be seen with practice and definitely influence my trading decisions.

You can see the melt down yesterday starting around 3:30 as tick high accurately indicated price high. Before that, starting around 2:45, the pattern on the TICK was consistent with a spike and dump (based on a LOT of screen time using it). The pattern setup a SWEET short on /ES for me. I shorted on the break of the MovingAvgAdaptive (KAMA) and based on watching the tick pattern as well as the /VX and correlated $ADSPD movement held it past the close.

 

[Ramesh16]

Thank you so much, I am studying it for the last two days. Could you please share the above grid. Thank you- Ramesh

 

[MatthewA]

This is great, as @YungTraderFromMontana has pointed out this could capture the original purpose as a "PeakApproching" indicator... What is the opposite complement to AccDist? Could we watch your weighted AccDistByPr approach a SchaffTrendCycle type indicator at it's high 100% value and know we are 3/4th into the Bull trend etc.

For example your uptrend is signaled by any trend indicator (Schaff, Stoch RSI, etc.) then your weighted AccDistByPr and/or AccDistByVol chase after the 100% at a rate scaled with a velocity and momentum type style (EaseofMovement, DetrendedPriceOscillator, etc...)
Now you know you are 3/4ths to a potential local top etc...

I am back testing now help me pick out the best indicators @horserider @mashume ... originally the Deaf Man looked for MACD bounce and VIX direction but which indicators should I hard code in??? Why SlowStoch??
I am apologize in advance if I am not communicating the idea very well as I am also very new and am writing out indicator calculations by hand...

 

[MatthewA]

In other words there is potential for a "PeakBuying" indicator in the code @horserider & @mashume have written... As @YungTraderFromMontana reminds us all our indicators are based on price and time and there is nothing new under the sun... We all already have dozens of indicators that reliably call direction a little more reliably than the default MACDs

I see potential for this to be used to call how long ETA until the next peak...

For instance maybe this would work with the Accumulation Distribution Line ADL
1. Money Flow Multiplier = [(Close - Low) - (High - Close)] /(High - Low)

2. Money Flow Volume = Money Flow Multiplier x Volume for the Period

3. ADL = Previous ADL + Current Period's Money Flow Volume

This will give accurate early indicators such as the approach to a peak "PeakApproaching" but it is also very removed from price so while buying pressure can increase overall prices could be decreasing and this would need a dynamic price component for weight... (like be scaled to TOS dynamic momentum, or the price changes directly)
Maybe I have had to much fun tonight my 1st post is to long @YungTraderFromMontana what do you think?

 

[YungTraderFromMontana]

@MattATM I like your ideas, you have the motivation like many on here to nitpick and innovate on existing indicators. Personally I don't think adding onto this strategy is viable because from my backtesting the scaling manipulates signals after the fact unless they call a top. Instead I'd work with indicators that don't find success for undeterminable reasons. Make your thinkscripts a science that you can easily test and improve. I'm currently working on a strategy using these indicators because I've learned that the hardest but most rewarding thing to be able to do in the market is to catch moves before or right as they start to happen. I focus on indicators that predict with minimal lag. I am personally a big fan of moneyflow as well as toss's demand index.

 

[we29125]

@Jim Klopp

Tried this... but the pointers look weird. Anyone can assist... to improve.

======================


declare lower;

def data = if close > close[1] then close - Min(close[1], low) else if close < close[1] then close - Max(close[1], high) else 0;

plot AccDist = TotalSum(data);
AccDist.SetDefaultColor(GetColor(1));

def price = accdist;

input deviations = 1.68;
input fullRange = Yes;
input length = 20;

input widthOfChannel = 80.0;

plot MiddleLR;
if (fullRange)
then {
MiddleLR = InertiaAll(price);
} else {
MiddleLR = InertiaAll(price, length);
}

def dist = HighestAll(AbsValue(MiddleLR - price)) * (widthOfChannel / 100.0);

plot UpperLR = MiddleLR + dist;
plot LowerLR = MiddleLR - dist;

def upsign = price <= LowerLR ;
def downsign = price >= UpperLR ;

plot signalup = upsign;
signalup.SetDefaultColor(Color.White);
signalup.SetPaintingStrategy(PaintingStrategy.POINTS);

plot signaldown = downsign;
signaldown.SetDefaultColor(Color.Red);
signaldown.SetPaintingStrategy(PaintingStrategy.POINTS);

 

[we29125]

@Jim Klopp

Tried this... but the pointers look weird. Anyone can assist... to improve.

======================


declare lower;

def data = if close > close[1] then close - Min(close[1], low) else if close < close[1] then close - Max(close[1], high) else 0;

plot AccDist = TotalSum(data);
AccDist.SetDefaultColor(GetColor(1));

def price = accdist;

input deviations = 1.68;
input fullRange = Yes;
input length = 20;

input widthOfChannel = 80.0;

plot MiddleLR;
if (fullRange)
then {
MiddleLR = InertiaAll(price);
} else {
MiddleLR = InertiaAll(price, length);
}

def dist = HighestAll(AbsValue(MiddleLR - price)) * (widthOfChannel / 100.0);

plot UpperLR = MiddleLR + dist;
plot LowerLR = MiddleLR - dist;

def upsign = price <= LowerLR ;
def downsign = price >= UpperLR ;

plot signalup = upsign;
signalup.SetDefaultColor(Color.White);
signalup.SetPaintingStrategy(PaintingStrategy.POINTS);

plot signaldown = downsign;
signaldown.SetDefaultColor(Color.Red);
signaldown.SetPaintingStrategy(PaintingStrategy.POINTS);

Figured it out..


declare lower;

def data = if close > close[1] then close - Min(close[1], low) else if close < close[1] then close - Max(close[1], high) else 0;

plot AccDist = TotalSum(data);
AccDist.SetDefaultColor(GetColor(1));

def price = accdist;

input deviations = 1.68;
input fullRange = Yes;
input length = 20;

input widthOfChannel = 80.0;

plot MiddleLR;
if (fullRange)
then {
MiddleLR = InertiaAll(price);
} else {
MiddleLR = InertiaAll(price, length);
}

def dist = HighestAll(AbsValue(MiddleLR - price)) * (widthOfChannel / 100.0);

plot UpperLR = MiddleLR + dist;
plot LowerLR = MiddleLR - dist;

def upsign = price <= LowerLR ;
def downsign = price >= UpperLR ;

input showBreakoutSignals = yes;

plot signalup = if price <= LowerLR then LowerLR else Double.NaN;
signalup.SetHiding(!showBreakoutSignals);
signalup.SetDefaultColor(Color.Green);
signalup.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
signalup.HideTitle();

plot signaldown = if price >= UpperLR then UpperLR else Double.NaN;
signaldown.SetHiding(!showBreakoutSignals);
signaldown.SetDefaultColor(Color.Red);
signaldown.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
signaldown.HideTitle();

 

[Cleartarget]

Figured it out..


declare lower;

def data = if close > close[1] then close - Min(close[1], low) else if close < close[1] then close - Max(close[1], high) else 0;

plot AccDist = TotalSum(data);
AccDist.SetDefaultColor(GetColor(1));

def price = accdist;

input deviations = 1.68;
input fullRange = Yes;
input length = 20;

input widthOfChannel = 80.0;

plot MiddleLR;
if (fullRange)
then {
MiddleLR = InertiaAll(price);
} else {
MiddleLR = InertiaAll(price, length);
}

def dist = HighestAll(AbsValue(MiddleLR - price)) * (widthOfChannel / 100.0);

plot UpperLR = MiddleLR + dist;
plot LowerLR = MiddleLR - dist;

def upsign = price <= LowerLR ;
def downsign = price >= UpperLR ;

input showBreakoutSignals = yes;

plot signalup = if price <= LowerLR then LowerLR else Double.NaN;
signalup.SetHiding(!showBreakoutSignals);
signalup.SetDefaultColor(Color.Green);
signalup.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
signalup.HideTitle();

plot signaldown = if price >= UpperLR then UpperLR else Double.NaN;
signaldown.SetHiding(!showBreakoutSignals);
signaldown.SetDefaultColor(Color.Red);
signaldown.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
signaldown.HideTitle();

How can i created a scanner with this indicator ,showing when the upper signal or down signal are in play.?
If you have the scanner can you share?
Thanks

 

[we29125]

@Cleartarget

Create a scan query in TOS. Do a Study. Use below code and choose yr own timeframe. Mine is 5min.

You can use the code to do Custom Quote.

declare lower;

def data = if close > close[1] then close - Min(close[1], low) else if close < close[1] then close - Max(close[1], high) else 0;

def AccDist = TotalSum(data);
#AccDist.SetDefaultColor(GetColor(1));

def price = accdist;

input deviations = 1.68;
input fullRange = Yes;
input length = 20;

input widthOfChannel = 80.0;

def MiddleLR;
if (fullRange)
then {
MiddleLR = InertiaAll(price);
} else {
MiddleLR = InertiaAll(price, length);
}

def dist = HighestAll(AbsValue(MiddleLR - price)) * (widthOfChannel / 100.0);

def UpperLR = MiddleLR + dist;
def LowerLR = MiddleLR - dist;

def upsign = price <= LowerLR ;
def downsign = price >= UpperLR ;

#input showBreakoutSignals = yes;

plot signal = if upsign then 2 else if downsign then 1 else 0;

signal.AssignValueColor(if signal == 2 then Color.Green else if signal == 1 then Color.Red else Color.Black);

AssignBackgroundColor(if signal == 2 then Color.Green else if signal == 1 then Color.Red else Color.Black);

 

[Cleartarget]

@we29125 Thank you ,I was checking some tickers they came out in the scanner, but when look at the chart there is not signal? Did you have this issue too?

 

[we29125]

@we29125 Thank you ,I was checking some tickers they came out in the scanner, but when look at the chart there is not signal? Did you have this issue too?

Set yr intraday chart with 2 days of 5min data or whatever intraday Timeframe for TOS.

 

[Cleartarget]

Set yr intraday chart with 2 days of 5min data or whatever intraday Timeframe for TOS.

I got it now ,I was using the 2d 5m chart,but I changed to 5d 5m and it work worderful,thanks so much i was looking for this scanner for a while also the indicator I was using it ,but now with yours it much better,thanks again.

 

[Thomas]

Just tested this indicator and it isn't as magical as some of you think. The reason it looks so appealing is because when you view a timeframe you are only left with the successful signals. If a signal goes past the overbought of oversold ranges it will just expand the y axis to adjust to this increase. When the AccumDistBuyPr reaches a top the axis will stop expanding and you are left with a perfect signal but you only see the perfect signals not any of the failed ones. This will only work if the stock is consistently ranging between two price zones, if not the signals can't be trusted.

The instructions said, "Don't Zoom," and the PDF was a great gift...

 

[manishji]

How to add option for look within certain bar in scanner code. Thanks

 

[Thomas]

How to add option for look within certain bar in scanner code. Thanks

Elbow grease through the option list, but TOS is not capable of doing what you ask....

 

[we29125]

How to add option for look within certain bar in scanner code. Thanks

If u trade options, it is better to have a watchlist of 10-20 to trade regularly. No point to keep searching for new stocks to trade options.

Most of the time, only 20-30 options are liquid enough for daytrade. For others, u can swing trade even though less liquid.

https://marketchameleon.com/Reports/optionVolumeReport
1) Sort the "90-Day Avg Volume". Trade those ETF or stocks(big caps) with at least 100K avg volume. Mainly SPY. QQQ and those Tech Giants and Banks + XOM..

2) For those more adventurous. Sort the "Total Volume" column. You would see the most recently IN PLAY stocks if u monitor carefully. In normal time, you would rarely see the Airlines and Cruise Lines stocks in high volume. But they do in recent weeks. U can put them in yr watchlist. They usually fade out after sometimes.

Just look at Top 50 listing will do

 

[realcul]

@BillMurray @Thomas @johntermotto can one you share the PDF on the deafdaytrader system. I have download the setup you shared but pretty lost on where to begin or see or the right way to consume it - to help my trading. It would be great if you share the content or atleast point me to a video or instructions on how to use the setups you had shared.