Repaints Black Dogs-Elliot Wave Strategy For ThinkOrSwim

[rip78]

Hi everyone. I just put this set up together today. Traded it sporadically throughout the day and made $363.00 . Was paper trading two /MNQ contracts.
If you have success with this set up, please let me know. Hope it helps! Here is the share for the chart : http://tos.mx/ZkwDeUU

 

[rip78]

Good morning fellow traders,

Regarding the YGs_ElliottWave_Bands_v2 study, I found a bug in the AssignPriceColor script. Please replace it with this :

AssignPriceColor(if !Color_Candles
then Color.CURRENT
else if BreakStatus[0] == 2
then GlobalColor("Positive")
else GlobalColor("Negative"));

 

[Moose]

Good morning fellow traders,

Regarding the YGs_ElliottWave_Bands_v2 study, I found a bug in the AssignPriceColor script. Please replace it with this :

AssignPriceColor(if !Color_Candles
then Color.CURRENT
else if BreakStatus[0] == 2
then GlobalColor("Positive")
else GlobalColor("Negative"));

It is giving an error

 

[rip78]

It is giving an error

Moose,

Sorry, here is the corrected version :

# posted to [email protected] - 11/28/2012
# this study was also found on thinkscripter.com circa 11/2013
# author : unknown ( possibly David Elliot, Eric Purdy, or Mobius )
# PaintBars added by ZupDog
# Vertical Lines added by ZupDog


input Color_Candles = No;
input showverticals = no;
input showbackground = no;
input ColoredMobo = yes;
input ColoredFill = yes;
input BreakArrows = yes;
input ShowAlerts = yes;
input SoundType = {default "NoSound", "Bell", "Chimes", "Ding", "Ring"};
input price = close;
input displace = 0;
input length = 10;
input Num_Dev_Dn = -0.8;
input Num_Dev_Up = +0.8;
def lastBar = if (IsNaN(close), 1, 0);
def sDev = stdev(data = price[-displace], length = length);
def MidLine = Average(data = price[-displace], length = length);
def LowerBand = MidLine + num_Dev_Dn * sDev;
def UpperBand = MidLine + num_Dev_Up * sDev;
def MoboStatus =
if close > UpperBand then 2 # Mobo Up
else
if close < LowerBand then -2 # Mobo Down
else 0 ; # between the bands
rec BreakStatus = compoundValue(1,
if BreakStatus[1] == MoboStatus or MoboStatus == 0 then BreakStatus[1]
else
if MoboStatus == 2 then 2
else -2, 0);

plot MidlineP = Midline;
MidLineP.SetDefaultColor(GetColor(1));
MidLineP.hide();

plot UpperBandP = UpperBand;
UpperBandP.AssignValueColor (
if !ColoredMobo then Color.White
else
if BreakStatus[0] == 2 then Color.Green
else Color.Red);
UpperBandP.SetLineWeight(1);

plot LowerBandP = LowerBand;
LowerBandP.AssignValueColor (
if !ColoredMobo then Color.White
else
if BreakStatus[0] == 2 then Color.Green
else Color.Red);
LowerBandP.SetLineWeight(1);

# Breakout/down arrows.

plot BreakOutArrow =
if BreakArrows then
if BreakStatus[0] == BreakStatus[1] then double.NAN
else if BreakStatus[0] == 2 then
close else double.NAN
else double.NAN;
BreakOutArrow.SetPaintingStrategy(PaintingStrategy.Arrow_Up);
BreakOutArrow.SetDefaultColor(Color.Red);
BreakOutArrow.SetLineWeight(3);
plot BreakDownArrow =
if BreakArrows then
if BreakStatus[0] == BreakStatus[1] then double.NAN
else if BreakStatus[0] == -2 then
close else double.NAN
else double.NAN;
BreakDownArrow.SetPaintingStrategy(PaintingStrategy.Arrow_Down);
BreakDownArrow.SetDefaultColor(Color.Green);
BreakDownArrow.SetLineWeight(3);
AssignBackgroundColor(if showbackground && breakstatus == -2 then CreateColor(51, 0, 0) else if showbackground && breakstatus ==2 then CreateColor(0,51,0) else color.current);
# colored clouds
plot GreenUpper = if ColoredFill and BreakSTatus[0] == 2 then
UpperBandP else double.NAN;
GreenUpper.SetDefaultColor(CreateColor(0, 100, 0));
plot GreenLower = if ColoredFill and BreakStatus[0] == 2 then
LowerBandP else double.NAN;
GreenLower.SetDefaultColor(CreateColor(0, 100, 0));
AddCloud (GreenUpper, GreenLower, CreateColor(0, 100, 0), color.red);
plot RedUpper = if ColoredFill and BreakSTatus[0] == -2 then
UpperBandP else double.NAN;
RedUpper.SetDefaultColor(CreateColor(200, 0, 0));
plot RedLower = if ColoredFill and BreakStatus[0] == -2 then
LowerBandP else double.NAN;
RedLower.SetDefaultColor(CreateColor(200, 0, 0));
AddCloud (RedUpper, RedLower, CreateColor(200, 0, 0), color.green);
alert(ShowAlerts and BreakStatus[1] == 2
and (BreakStatus[1] <> BreakStatus[2]), "MoBo BreakOUT", Alert.Bar,
SoundType);
alert(ShowAlerts and BreakStatus[1] == -2
and (BreakStatus[1] <> BreakStatus[2]), "MoBo BreakDOWN", Alert.Bar,
SoundType);

AddVerticalLine(showverticals and BreakOutArrow, " YGs_ElliottWave ", Color.GREEN);
AddVerticalLine(showverticals and BreakDownArrow, " YGs_ElliottWave ", Color.MAGENTA );

DefineGlobalColor("Positive", Color.BLUE);
DefineGlobalColor("Negative", Color.DARK_RED);

AssignPriceColor(if !Color_Candles
then Color.CURRENT
else if BreakStatus[0] == 2
then GlobalColor("Positive")
else GlobalColor("Negative"));

 

[mailbagman2000]

Just tested one stock with it so far. Both long with the stock and with buying calls

 

[Deltapants]

What do the arrows indicate?

 

[Ramesh]

Long/short signals Repaint?

 

[MerryDay]

Long/short signals Repaint?

All ZigZags, Swings, Waves, Reversals, and Pivots are all repainting indicators. Any study that plots highs and lows by definition must repaint. Each High / Low is signaled; until the next higher / lower bar, at which point it repaints.

In answer to your question: Yes, Elliot Waves repaint.

 

[DB01]

Your example shows "long" and "short" bubbles. They don't seem to appear on my screen and there aren't any settings that refer to them. Any help?

 

[BD_TX]

Thanks for sharing. I am trying to understand what this has to do with Elliott Wave.

 

[TechGuy]

Hi everyone. I just put this set up together today. Traded it sporadically throughout the day and made $363.00 . Was paper trading two /MNQ contracts.
If you have success with this set up, please let me know. Hope it helps! Here is the share for the chart : http://tos.mx/ZkwDeUU

 

[TechGuy]

I downloaded your revised script. My chart doesn't look anything like yours. I cant go back to the same day you have above only a current day. Can you post a recent day.

 

[Chris77]

Long/short signals Repaint?

Yes, it repaints.

 

[DB01]

Yes, it repaints.

How do you get the long/short signals to show up on your chart?

 

[DRLEELYNN4391]

Hi everyone. I just put this set up together today. Traded it sporadically throughout the day and made $363.00 . Was paper trading two /MNQ contracts.
If you have success with this set up, please let me know. Hope it helps! Here is the share for the chart : http://tos.mx/ZkwDeUU

Oh I'm going to absolutely cry or jump for joy...I've been looking for this script for weeks. I just installed it on my TOS and it's
PERFECT. Thank you so much.

 

[MerryDay]

Oh I'm going to absolutely cry or jump for joy...I've been looking for this script for weeks. I just installed it on my TOS and it's
PERFECT. Thank you so much.

This is a nice chart setup. But keep in mind, nothing is "perfect". This setup looks so good BECAUSE it repaints.

Repainters are not the 4-letter word that many traders make them out to be.

Repainters are the FASTEST way to find and be alerted to tops and bottoms. But because they are such prolific liars, it is important to use corroborating indicators to weed out the truth. There are many posts in this thread discussing what additional indicators work well with repainters
or
you can combine repainters w/ other price action to "read the chart".
Read more: https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833

 

[DB01]

Oh I'm going to absolutely cry or jump for joy...I've been looking for this script for weeks. I just installed it on my TOS and it's
PERFECT. Thank you so much.

How do you get the long/short signals to show up on your chart?

 

[DRLEELYNN4391]

How do you get the long/short signals to show up on your chart?

I'm not exactly sure what you mean...I just have up and down arrows that showed up when I pasted the code.

 

[DRLEELYNN4391]

This is a nice chart setup. But keep in mind, nothing is "perfect". This setup looks so good BECAUSE it repaints.

Repainters are not the 4-letter word that many traders make them out to be.

Repainters are the FASTEST way to find and be alerted to tops and bottoms. But because they are such prolific liars, it is important to use corroborating indicators to weed out the truth. There are many posts in this thread discussing what additional indicators work well with repainters
or
you can combine repainters w/ other price action to "read the chart".
Read more: https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833

Wow, lots of great useful information here. I know this is going to sound really out of the norm, but I'm not interested in the High's or Low's, I just wanted this indicator as a visual guide, not a buy sell setup; if that makes any sense. I rely mostly on my other TOS studies & indicators: RSI, TTM Squeeze, MacD, New Study4 (high low volume), ZigZag High Low, VWAP and SMA (my most valuable indicator). I do nothing below that line. As I mentioned, this chart setup is more of a visual for overall direction especially when in a 5, 10, 90 or 180 day timeframe.

 

[DB01]

I'm not exactly sure what you mean...I just have up and down arrows that showed up when I pasted the code.

You have a white bubble that says long and a magenta bubble that says short on your chart. It doesn't look that way on mine.