Repaints Bill Murray Indicator: Intraday for ThinkOrSwim

[MerryDay]

Interesting chart... do the upper reversal indicator repaint?

yes

 

[newtrader324]

@BillMurray : there link you shared for the PDF is not valid. Can you please share it again?

 

[Piper2808t]

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;

may i ask to see how we can get assignbackgroundcolor when the accdist is greater then upperlr or below lowerlr thanks

 

[MerryDay]

may i ask to see how we can get assignbackgroundcolor when the accdist is greater then upperlr or below lowerlr thanks

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;

DefineGlobalColor("Bottom", CreateColor(0, 75, 100));
DefineGlobalColor("Top", CreateColor(80, 50, 0));
input paintBackground = yes;
AssignBackgroundColor(if paintBackground and accdist > upperlr then GlobalColor("Top") else
if paintBackground and accdist < lowerlr then GlobalColor("Bottom") else color.current );

 

[Piper2808t]

Not to take anything away from what @horserider put together, but here's an alternative. It WILL keep itself pegged if higher highs continue to be made. It will drop from 1 when the price is no longer making a higher high. Same goes for Lower Lows. This is because I chose to normalize the data over the range of 0 to 1. If you make a higher high, it's still 1 and everything before gets compressed.

I did not take time to put inputs on this. everything is hard coded. Feel free to adapt as you see fit.

Of course, I'm not party to the VIP chat, but just combining two indicators can be done this way.

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 AD = TotalSum(data);
plot AccDist = (AD - lowestall(AD)) /(highestall(AD) - lowestall(AD));
AccDist.SetDefaultColor(GetColor(1));

def stoch = StochasticSlow("over bought" = 100, "over sold" = 0, "k period" = 14, "d period" = 1).SlowD;

plot SlowD =  (stoch - lowestall(stoch)) /(highestall(stoch) - lowestall(stoch));

plot one = 1;
plot zero = 0;

Happy Trading
-mashume

Any way to use candles on this rather then the accdist?

 

[mashume]

depending on how you want to go about it change either this:

def AD = CLOSE;
plot AccDist = (AD - lowestall(AD)) /(highestall(AD) - lowestall(AD));

or this:

def AD = TotalSum(data);
plot AccDist = (OPEN - lowestall(CLOSE)) /(highestall(HIGH) - lowestall(LOW));

or some other change that makes us not use the TotalSum(data) as the main thing going forward.

-mashume

 

[Freddie_CM]

Hello all! I have come across a script
https://usethinkscript.com/threads/...nting-signal-for-thinkorswim.1981/#post-18808
that works well for me and my trading style. I only think this script could be improved by adding an uparrow when both the "AccDist" and the "SlowD" lines are equal to zero at the same time. I am by no means a coder and have not got the slightest clue on where to start to input an uparrow. Is there anyone who can help with this? Thank you all so much in advance. Below is the script:

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 AD = TotalSum(data);

plot AccDist = (AD - lowestall(AD)) /(highestall(AD) - lowestall(AD));

AccDist.SetDefaultColor(GetColor(1));



def stoch = StochasticSlow("over bought" = 100, "over sold" = 0, "k period" = 14, "d period" = 1).SlowD;



plot SlowD =  (stoch - lowestall(stoch)) /(highestall(stoch) - lowestall(stoch));



plot one = 1;

plot zero = 0;

 

[Svanoy]

@Freddie_CM

Had to also round down your plots to 2 decimal places as you rarely get absolute zero.

https://imgur.com/eXfhM2h

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 AD = TotalSum(data);
def stoch = StochasticSlow("over bought" = 100, "over sold" = 0, "k period" = 14, "d period" = 1).SlowD;

plot AccDist = RoundDown((AD - lowestall(AD)) /(highestall(AD) - lowestall(AD)),2);
AccDist.SetDefaultColor(GetColor(1));

plot SlowD =  RoundDown((stoch - lowestall(stoch)) /(highestall(stoch) - lowestall(stoch)),2);;

plot one = 1;
plot zero = 0;

plot BothZero = if !AccDist and !SlowD then 0 else double.nan;
BothZero.SetPaintingStrategy(PaintingStrategy.ARROW_UP);

 

[Piper2808t]

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;

Is there any way possible to add a couple other deviation lines to this or mtf this indicator i know it repaints ; however if another deviation may be an area to add too @samer800 . Also knowing it repaints is there any human possibility not to make it repaint? i was in deafdaytrader's discord room and this guy . may he rest in peace now . made a living doing SPX puts and calls from this setup . Thank you in advance

 

[samer800]

Is there any way possible to add a couple other deviation lines to this or mtf this indicator i know it repaints ; however if another deviation may be an area to add too @samer800 . Also knowing it repaints is there any human possibility not to make it repaint? i was in deafdaytrader's discord room and this guy . may he rest in peace now . made a living doing SPX puts and calls from this setup . Thank you in advance

check the below for MTF

declare lower;

input useChartTimeframe = {default "Yes", "No"};
input ManualTimeframe   = AggregationPeriod.FIFTEEN_MIN;   # "Resolution"
input smoothing = yes;
input source = FundamentalType.CLOSE;
input deviations1 = 0.236;
input deviations2 = 0.500;
input fullRange = Yes;
input length = 200;
input widthOfChannel = 80.0;

def tfSrc = Fundamental(FundamentalType = source);
def tfH  = high;
def tfL  = low;
def mtfSrc = Fundamental(FundamentalType = source, Period = ManualTimeframe);
def mtfH = high(Period = ManualTimeframe);
def mtfL = low(Period = ManualTimeframe);

def c;
def h;
def l;
switch (useChartTimeframe) {
case "No":
    c = mtfSrc;
    h = mtfH;
    l = mtfL;
Default :
    c = tfSrc;
    h = tfH;
    l = tfL;
}
def data = if c > c[1] then c - Min(c[1], l) else
           if c < c[1] then c - Max(c[1], h) else 0;
def src = data;
def smoothPrice = EhlersSuperSmootherFilter(src);
def price = if smoothing then smoothPrice else src;
 
plot AccDist;

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

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


plot UpperLR1 = MiddleLR + dist;
plot LowerLR1 = MiddleLR - dist;

plot UpperLR2 = MiddleLR + dist * deviations1;
plot LowerLR2 = MiddleLR - dist * deviations1;

plot UpperLR3 = MiddleLR + dist * deviations2;
plot LowerLR3 = MiddleLR - dist * deviations2;

AccDist.SetLineWeight(2);
AccDist.SetDefaultColor(GetColor(1));

MiddleLR.SetStyle(Curve.SHORT_DASH);
MiddleLR.SetDefaultColor(Color.GRAY);

UpperLR1.SetDefaultColor(Color.GREEN);
LowerLR1.SetDefaultColor(Color.RED);

UpperLR2.SetDefaultColor(Color.DARK_GREEN);
LowerLR2.SetDefaultColor(Color.DARK_RED);

UpperLR3.SetDefaultColor(Color.DARK_GREEN);
LowerLR3.SetDefaultColor(Color.DARK_RED);

#-- END of CODE

 

[MerryDay]

Also knowing it repaints is there any human possibility not to make it repaint?

This is a prolific repainting indicator. The logic in this study is written to continuously trigger false signals until it goes back and finally repaints the one good signal.
Because the code is dependent on the repainting, the answer is no. It can't be written to not repaint.
read more: https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/

Also, it should be noted that using the default of fullRange = yes (chosen in the input settings), the results will be wildly discrepant depending on the total number of bars on your chart.

But even if you turn off fullRange, the results will vary based on your chart length; as it is still dependent on the logic that looks for the HighestAll bar; which is based on viewable bars.

Finally, it's important to note that the study no longer updates in real time.
The functions within this script significantly consume system resources. To conserve resources and optimize performance, Schwab has decided to limit these functions update frequency to once per bar.
Read more: https://usethinkscript.com/threads/...in-real-time-in-thinkorswim.8794/#post-116082

 

[Piper2808t]

check the below for MTF

declare lower;

input useChartTimeframe = {default "Yes", "No"};
input ManualTimeframe   = AggregationPeriod.FIFTEEN_MIN;   # "Resolution"
input smoothing = yes;
input source = FundamentalType.CLOSE;
input deviations1 = 0.236;
input deviations2 = 0.500;
input fullRange = Yes;
input length = 200;
input widthOfChannel = 80.0;

def tfSrc = Fundamental(FundamentalType = source);
def tfH  = high;
def tfL  = low;
def mtfSrc = Fundamental(FundamentalType = source, Period = ManualTimeframe);
def mtfH = high(Period = ManualTimeframe);
def mtfL = low(Period = ManualTimeframe);

def c;
def h;
def l;
switch (useChartTimeframe) {
case "No":
    c = mtfSrc;
    h = mtfH;
    l = mtfL;
Default :
    c = tfSrc;
    h = tfH;
    l = tfL;
}
def data = if c > c[1] then c - Min(c[1], l) else
           if c < c[1] then c - Max(c[1], h) else 0;
def src = data;
def smoothPrice = EhlersSuperSmootherFilter(src);
def price = if smoothing then smoothPrice else src;
 
plot AccDist;

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

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


plot UpperLR1 = MiddleLR + dist;
plot LowerLR1 = MiddleLR - dist;

plot UpperLR2 = MiddleLR + dist * deviations1;
plot LowerLR2 = MiddleLR - dist * deviations1;

plot UpperLR3 = MiddleLR + dist * deviations2;
plot LowerLR3 = MiddleLR - dist * deviations2;

AccDist.SetLineWeight(2);
AccDist.SetDefaultColor(GetColor(1));

MiddleLR.SetStyle(Curve.SHORT_DASH);
MiddleLR.SetDefaultColor(Color.GRAY);

UpperLR1.SetDefaultColor(Color.GREEN);
LowerLR1.SetDefaultColor(Color.RED);

UpperLR2.SetDefaultColor(Color.DARK_GREEN);
LowerLR2.SetDefaultColor(Color.DARK_RED);

UpperLR3.SetDefaultColor(Color.DARK_GREEN);
LowerLR3.SetDefaultColor(Color.DARK_RED);

#-- END of CODE

Thank you @samer800

 

[dart966]

@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

Remembering the incredible @deafdaytrader. His insights and teachings will always be remembered. May he rest in peace.