Blast Off Indicator for ThinkorSwim

T

TOSTrader

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Hi @BenTen ! I'm trying to understand how to use this:

At the close of the trading day, I will have either a pink or white candle which signals that on the following day, expect a big move. However, if I wait until the closing of the current day, then I can't open a position because the market is closed. Does that make sense?

Or will this indicator allow me to see a pink candle one hour before the trading day is over, so I can make a play for the following day. Did I miss something?
 
BenTen

BenTen

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@TOSTrader You should be trading it the following day. You still need to wait for the current day to close to confirm whether we get a blast off day or not.
 
T

TOSTrader

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@TOSTrader You should be trading it the following day. You still need to wait for the current day to close to confirm whether we get a blast off day or not.

Thanks Ben. Got it figured out. Do you know how I would add a trend or price action to determine the likely movement of the blast off?
 
BenTen

BenTen

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@TOSTrader There are so many out there that identify momentum and trend. You would have to take them for a spin and see which one will provide additional confirmation for your bias.
 
L

lex_sanity

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@BenTen can you help with scanner setting? I saved the study, and set up the following parameters. I am seeing a big set of results, and even though i have set my 'bar' within 1, i am seeing the purple candle from few days before. So it is not showing purple candle on the last day. Also, if I was running this scan after EOD, how can I return results from today?

Offset = 0
Plot - hh
inputs - trig - 20

is true

within 1 bar


I'm having the same problem smh. Help please??



 
L

lex_sanity

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@BenTen I did, and followed it exactly? I inserted the code and the chart setup works fine but I’m having issues using it for the scanner. I’m scanning the S&P 500 but it’s not filtering out anything
 
BenTen

BenTen

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@lex_sanity Based on the screenshot you uploaded above, you didn't use the correct code. The plot should be arrow not hh. Please use the original Blast off script, not the modified version.
 
L

lex_sanity

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@lex_sanity Based on the screenshot you uploaded above, you didn't use the correct code. The plot should be arrow not hh. Please use the original Blast off script, not the modified version.

Thank you so much! I spent so much time wondering what I did wrong and it was because I picked the fancy version
 
BC1106

BC1106

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@BenTen I watched your video and i was trying to set up the scan however mine was different when i tried to add the condition. The left side for me was blank where as yours have filters, any thoughts what im doing wrong?

Edit: nevermind i figured it out
 
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J

jezzer46

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On lower time frames this highlights what I call tiny trigger bars. The small indecision bar before a move up or down. In theory the smaller the bar the less you risk if you use a risk reward based on bars height. From what I see so far in the right setup can give you really good entries even @ 5min. Awesome work @ Benten
 
F

fiatmoney006

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When I try to add this as a scan I don't have the same screen

I'm trying to add an image, however, the place where I'm stuck is after the Add Condition screen and Edit Condition.
 
D

devrimogun

New member
Hello Everyone,

I have designed a very good blastoff scanner.
It is not very complicated and I should be able to supply the tricky part of the code.
I am looking for partners here to code the scanner.

Please give me a holler if you're interested.

Please let me ask you what is the charting SW you are basing your scripts on and what languages are being used?
Thank you!
 
Last edited:
BenTen

BenTen

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@devrimogun Please be more specific about your request. Post the scanner's condition, and our community will take a look to help you out.
 
N

Neel

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Hi ! Need some help here. Can someone please point me to the final code with arrows. I have the older version I guess (without arrows) and hence unable to set up the scanner. Thanks in advance
 
MattATM

MattATM

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Hello @BenTen I limited the yellow blast off range bars to 3 bars... I think I need to add some sort of Fractal Energy or Wave Alignment? Or something. The idea being to use this for a scanner to tell me when which of several Highly Liquid products to intraday trade.
Code:
# Blast Off Indicator
# Should use on the Daily chart
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/V9Mi6eOO-CM-Blast-Off-V1-Alerts-Ready/
# Modified version: added line to high and low of blast off candle.
def NAN =double.NaN;
input EnableBlastOffIndicator=yes;
input trig = 20;
input BlastOffConsolidationLength=3;
def val = absValue(close - open);
def range = high - low;
def blastOffVal = (val / range) * 100;
def trigger = trig;
def alert1 = blastOffVal < trig;
def blast_candle = blastOffVal < trig;
def blast_candle_count = if blast_candle then 1 else blast_candle_count[1]+1;
def b_high = if blast_candle then high else b_high[1];
def b_center = if  blast_candle then hl2 else b_center[1];
def b_low = if  blast_candle then low  else b_low[1];
plot BlastOffHigh   = if EnableBlastOffIndicator && blast_candle_count <= BlastOffConsolidationLength then b_high else NAN;
plot BlastOffCenter = if EnableBlastOffIndicator && blast_candle_count <= BlastOffConsolidationLength then b_center else NAN;
plot BlastOffLow    = if EnableBlastOffIndicator && blast_candle_count <= BlastOffConsolidationLength then b_low else NAN;
BlastOffHigh.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
BlastOffCenter.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
BlastOffLow.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
BlastOffHigh.SetDefaultColor(Color.YELLOW);
BlastOffCenter.SetDefaultColor(Color.YELLOW);
BlastOffLow.SetDefaultColor(Color.YELLOW);

 
Last edited:
Joseph Patrick 18

Joseph Patrick 18

Member
@HighBredCloud are you talking about something like this chart where the grey bars are stagnant (no momentum)??

 

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